As I went through the news articles on my phone this morning there were three articles touting challenges in the housing market and one mentioning that Zillow is re-forecasting appreciation for the year to 2.4% from 7.8%. This reinforces my thoughts from an earlier post that there is a major tug of war going on with buyers and sellers, but the fundamentals of the housing market are much stronger today versus the bust of 2008. Based on what I am reading, I can, with confidence, state that I am bullish on the Citrus County Real Estate Market today and into the future. Here’s why:
Citrus County offers incredible value when it comes to real estate. Your money goes farther here than any other area in the state of Florida that has comparable amenities. I expect this to continue as Marion County, The Villages, and everything south are appreciating at a higher rate.
There is a lot more to do here than most people realize. Accessible areas for kayaking, and other water activities, incredible sunsets at our beach, the Withlacoochee Bike Trail, plus all of our planned communities with the numerous high-quality amenities each one offers. The list keeps growing…
Many people complain that there isn’t enough retail but with the growth of online shopping, it has become less of an objection to the buyers coming into the market. Plus, all of the new retail that is planned.
Our nightlife is improving. Have you been to Inverness on a weekend evening? Great fun with lots of music and festivities. Crystal River is also getting better, especially first Fridays. I know we need more restaurants……
Let’s talk about Crystal River. The city has made major strides. As the spotlight of the county, it needed improvement. Granted, it has been much slower than most of us would like, but the addition of the visitor center at Three Sisters was a big asset. It has increased tourism and day trip activity which in turn increases visibility to what we have to offer. My theory has always been: The more people that visit Crystal River equals more restaurants and other infrastructure coming to the area to service those visitors. We need a Crumps Landing in Crystal River.
Side Note- I wrote this article in 2014 concerning what had to be done in Crystal River to help all homeowners in Citrus County. Eight years later, a bit of it has come to fruition and we will see more. Yes, the county moves at a snail’s pace but ultimately they are doing What Needs to Be Done.
As mentioned, the rest of the state has become much more expensive, so more buyers are looking for more value. Citrus County offers that value and not just to the Northeasterners that have always come to FL to retire. There is an ever-growing number of people from other, more expensive/crowded, areas of FL who are retiring. These folks have a great deal of equity in their homes and want to retire to somewhere quieter. When they get here to look, they see Citrus County’s appeal. We don’t have to sell them on why quiet is better, they are looking for what we have. It is a very easy conversation, and we are having it more and more. I will also mention that Marion County is one of the fastest growing counties in the state and since we are neighbors, it will seep into Citrus County.
The Suncoast Highway is here and will extend. Real Estate Development is one the top three economic drivers in the state of Florida. This area along with our neighboring counties north of us are prime candidates for growth. Most people moving to the state do not need careers or can work from home and can live in more remote areas. Developers are taking advantage of this trend. Look at the proposed expansions of the Suncoast and Turnpike, making this area of the state more accessible.
I could go on and on but I am going to land the plane here on why I am still bullish on Citrus County. It will hold its own through this tug of war market and will be a bright spot in Real Estate for years to come.
If you have any questions or comments, please reach out to me via email or call me. 352-422-5297
