Real Estate June 2021

Jun 1, 2021

June brings the start of hurricane season. While we can use the rain to keep our lawns green, I hope we don’t see any major storms. Did you know there are homes in Deercreek which are actually in a flood zone that requires flood insurance? Even if your home does not require flood insurance, it could be a smart decision for minimal cost to protect the large investment in your home.

Only three homes are currently on the market (according to the 5/19/21 NEFAR MLS). The homes have been on the market for between 5 and 58 days. The homes are listed at $569,000-$844,000 and range in size from 3300-4125 square feet. The homes on the market are 7701 Watermark Ln ($569,000), 9953 Watermark Ln ($749,900), and 8232 Bay Tree ($844,000). One challenge that has arisen lately is appraisal issues. The market has been increasing so rapidly that the price of comparable homes used in appraisals does not always keep up. If the appraisal comes in lower than the contract price, the seller has to reduce the price; the buyer has to bring more money to closing; or, the buyer and seller meet somewhere in the middle between the appraisal value and the contract price. There are 7 homes under contract. The homes under contract have been on the market from 1 to 75 days and ranged in size from 1898 to 3231 square feet. The homes are listed from $379,900 to $719,500, with a price per square foot ranging from $180.89 to $222.69.
Six homes sold over the last three months. Ranging in price from $375,000-$675,000, the homes range in size from 1955 – 3586 square feet. The sales price per square foot varied from a low of $153.69 to a high of $229.64. The homes sold were on the market from 9 to 32 days, a very short time. 9977 Chelsea Lake sold for $595,000, 10393 Cypress Lake sold for $625,000, and 8275 Persimmon Hill sold for $375,000.

Hurricane preparedness is always a good thing. It is a bit like preparing for a pandemic. Water bottles, non-perishable items, and batteries for flashlights are among some of the needed items. One of the best things about Deercreek is if the need arises during a hurricane, or other emergency, neighbors will always be there to see each other through!

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