---
title: "Andrew Linn of ERA ONETEAM heads to WSOS 103.9 FM for an Interview"
url: https://stacklist.com/card/952a7cd8-79a8-4e66-9f06-f0b81b15bf34
stack: https://stacklist.com/stack/e0aa7518-e055-42ed-8cd9-cf54197d1077
summary: "Andrew ERA discusses real estate market trends showing declining median sales prices (down 2.2% monthly), increased inventory, and rising days on market, indicating a shift toward a buyer's market with 3.6 months of inventory. He emphasizes affordability concerns, mortgage rate impacts at 7%, and negotiation strategies for buyers to secure better deals from sellers."
tags: "real-estate, market-analysis, housing-trends, mortgage-rates, buyer-market"
key_entities: "Andrew ERA (person), buyer's market (concept), absorption rate (concept), mortgage rates (concept), inventory (concept), affordability crunch (concept), 2008 financial crash (event)"
classification: "video"
acp_version: "0.2"
token_counts_approximate: 5597
visibility: public
agent_accessible: true
status: "final"
---

# Andrew Linn of ERA ONETEAM heads to WSOS 103.9 FM for an Interview

[00:00] the medium sales price in the area is down 2.2% from last month. So yes, there is a downward trend. Um, and compared to this same time last year is down 0.2%. So not as much from this time last year, but it is on a downward trend. Um, closings are down 9.2%. So activity on the market. The medium days on the market, uh, is up 5.2% compared to last month. Um, and that it but it's down from 20% from this time last year. Now what does that mean? Just means homes are staying on the market longer compared to last year and they're going up, which means which is equivalent to the number of listings, uh, as well hitting the market. So we are definitely seeing the inventory, uh, tick up, um, which is giving buyers more options, uh, as they move through the market.
[00:56] Yeah. Certainly not a, uh, a market crash or something terminal for the market in any shape or form. This is still one of the top 10 places, I would argue, in America that people want to move to, right?
[01:07] Absolutely. The the demand's still there. And just to wrap up on that, I want to come back to what you just said. Um, but the absorption rate, which is the number of homes that are on the market at a given time, is down to 3.6 months of inventory. Now what that means again to your listeners is back in the crash of 08, we had 22 months of supply, which means there's tons of supply. We're not there yet. And historically, economically, what uh economists look at for trends as far as a buyer's market compared to a seller's market, typically, it's a seller's market when it's between three to six months of inventory. Anything above the six, five or six is moving into more of a buyer's market. I would just from being in the street, being in the market, it does feel like it's more of a buyer's market because of the negotiating power that a buyer has to negotiate, uh, and pick which home that they want to pursue. Um, so I definitely I it's a it's a mixed market based off where you are. I still there is still a, um, affordable affordability crunch. And just to give your listeners some list, some other stats on that, um, condos in the area, um, the medium sales price has gone up 4.4% from last month and it's gone up from this time last year to from 6.8%. So, and the at medium sales price is 235,000 for a condo. Now what does that mean? It tells me again, buyers are looking at affordability and what they can afford, what they, what they can get into. And that stat jumps out to me that says people are looking in the market, they want to buy, they want to transact, um, but they're looking at the affordability number.
[02:51] Yeah. Uh, that mortgage rate, 30-year fixed mortgage rate that's crossed over 7% here in the last few weeks and seems to have, you know, now be stuck there. And then of course, with the Fed raising rates by a quarter point, two puts a little bit more pressure on mortgage rates, although they're not necessarily, they don't necessarily track perfectly. Um, with all that being said though, there are ways to deal with this issue, right? I mean, uh, people shouldn't just say, oh, well, I just can't afford a mortgage because rates are at 7% instead of 5 and a half.
[03:18] That's correct. Yeah. And you know, there's old saying, if you don't ask, you don't receive. Right. Right? So as a, as a buyer, I would definitely team up with your, your realtor, find out what the seller situation is, find out why they're moving, what's motivating them, and negotiate, ask, ask for rent assistance, ask for, um, to buy, down the rate, ask for more repairs, ask for things that you want to need. Every buyer situation is completely different. Every situation is different. So I can tell you, uh, firsthand, uh, clients that we represent are getting things from the seller that they're asking for and getting it. Example of that is getting their rent paid, getting their lease, uh, paid for so they can move in, buying down the rate. That makes it more affordable. Paying off or paying down the CDD or HOA fees for a period of time. There are things that you can do, which is, yes, is cash from one pocket to the other pocket. But there's things that you can ask for to negotiate and there's also Lending Pro. There's also programs out down there. There's home, um, um, uh, first time Home Buyers assistance. There's, um, 100% VA lookalike loans that saves for veterans eligibility if they want to go through a, um, a certain lender that has the same type of program that doesn't use their eligibility. So there's definitely programs out there. So, um, definitely, definitely get with a realtor that you, that can that you trust and know that's been in the business for a while to represent you on where you want to go.
[04:51] That's Andrew Lynn, by the way, and, uh, he directs a team of those professionals that he just described at ERA One Team with offices right here in St. John's County and throughout our part of Northeast Florida and Southeast Georgia. Uh, ERA1team.com is the website, ERA1team.com. Their phone number, too, if you're in a position to put it into your cell phone, give them a call. 904-641-1400. If you know someone who is considering relocating to our part of the world or you're thinking of selling or you're in the market to potentially buy, even if it's a few months from now, now's a good time to get a sense from Andrew or a member of his team exactly what you're getting ready to get involved with. Can be a fun experience, right, Andrew?
[05:32] It can be.
[05:33] Yeah. So don't I mean, everybody, don't be scared.
[05:35] Yeah, don't get scared. We'll be back.
[05:37] My mind. And I'm going to Carolina. In my mind. It's just James Taylor. I wonder if he's listening this morning. He should be, right?
[06:06] He should be. That is the, uh, I'm a fan of this this era and he's one of my top top singers.
[06:12] Yeah. James Taylor. Great. One of the probably the first concert I ever saw in my life. And, uh, Andrew Lynn would, uh, recognize, uh, us. I went to see him at at South Carolina. It was the old Frank McGuire Arena back in the day. And that was one of my very first concerts. The first time in my life because I've been fairly, uh, innocent that I ever smelled marijuana because it was everywhere at that concert. That concert was like in the late 70s with him and there's something about his his shows, but, um, but anyway, he is speaking of which, and Andrew suggested we play him and it was a really good idea. He's in concert tonight at the St. Augustine Amphitheater and again tomorrow night. I was just looking online. There are limited seats available, which means I.E. single seats available, but definitely go, go get him. JT is a legend and he is, uh, in our town.
[06:59] Yeah. We heard from folks. I think he was up in Jacksonville within the last year. I think he did a show over at Veterans Arena. But he, uh, everybody said he's great. So I know a lot of times our listeners get concerned about, you know, as these artists get a little older, you know, some of them are really, really still great on stage. Some of them are not. But James Taylor is widely considered just as awesome today on stage as he was 30 years.
[07:20] I'm going to go ahead and pitch. You should, if he's listening, you should intro him. You should introduce him to the concert tonight.
[07:26] Oh, yeah, that'd be awesome. That would be an honor right there.
[07:29] Well, if, uh, JT, if you're listening, you can give us a call, too. 481-8852. And better yet, better yet, James Taylor, if you obviously you're at the amphitheater, so you know, it's beautiful here. This is the place to come and live.
[07:41] Absolutely.
[07:42] Andrew Lynn and his team will be happy to get you set up with appropriate real estate. I'm thinking, you know, Ponte Vedra, one of those new, uh, homes on the water. Not new homes, but homes that are available lately that are selling for 18, 19 million.
[07:52] Yeah. Or just downtown St. Augustine.
[07:54] Oh, yeah, yeah. I live in Lincolnville. That's more his speed, I think.
[07:58] I don't see him being kind of a beach guy.
[08:00] We do work with a lot of, uh, we've sold homes to high net worth individuals and celebrities and corporate people as well. So definitely, definitely can do it. But, uh, welcome, uh, to town if you are listening and hope, uh, you enjoy our, our town.
[08:13] We're going to have pretty good weather, too, for the concert tonight and, uh, and for tomorrow should be okay. Andrew Lynn is here with us. He heads the show at ERA One Team. He's a big part of our family. He's a real estate resource for us here at WSOS and for our listeners. If you are thinking of selling, uh, perhaps you're downsizing, upsizing, doesn't matter, uh, they can help you out. Uh, this is a interesting, we'll use our air quotes here because they work really well on the radio, an interesting real estate market, but, uh, he can navigate you through it and make sure that you get the best value for your home or that you get the best deal on a new home.
[08:48] Absolutely, we can help you. Again, we have got relationships with, uh, a lot of the major banks and, um, corporations, relocations and so we can definitely service you. You can also help you on the rental department as well while you wait. Uh, if you do even decide to purchase a home, that is something that we can help you with as well and educate you on the rental market, the purchase market, um, and assist you with your closings as well.
[09:12] One of the things we've been talking about and I pitched, uh, throughout the morning that Andrew would be joining us, uh, because there's a lot of concern out there. Even when I talk to my neighbors and such, even though they're comfortable in their homes and aren't thinking necessarily of selling, just the topic of high quote, high interest rates always comes up, especially when you start thinking about your adult kids and so forth. And it is an issue when an interest rate is at 7% 30-year fixed versus 3%. Obviously, you're looking at a few hundred bucks more a month on your on your home mortgage payment. And that's impactful for families that are on a budget, no doubt about it. But sometimes you need a little perspective. You know, I think we got, you know, ruined, or as they would say in South Carolina, ruined by what happened coming, uh, out of COVID, right? When we, I remember we used, I had a client came in here for years, um, who was able to get a 30-year fixed for 2.8. It was like that weird December of 2020 where it like dropped this ridiculous number. It only lasted like 10 days. But there was a long period, relatively long, about a year where you could get a mortgage rate under four. But that was such an aberration. That was, that was going back to pre-Leave It to Beaver on TV days, right? We haven't had, we did not have interest rates that low for a while.
[10:18] It's called a unicorn rate.
[10:19] Yeah, right?
[10:20] Yeah.
[10:20] I was telling Andrew, my first mortgage rate was like 11 and a half percent.
[10:23] In what year?
[10:24] 1987.
[10:25] Okay.
[10:26] And I was right out of school. Uh, it was in D.C. I was getting a little co-op apartment. It was, you know, so I'm sure I paid more than I should have because it was, you know, not a, not a standalone single family home. But yeah, our mortgage rates have not been high, but they've been historically manageable and in this 7% plus range, more often in the last 25 years than they have not been, right?
[10:50] Yeah, absolutely. And just to, just to piggyback off of that on, in 1986, the average, the medium, um, excuse me, the medium home sold was $80,000. Right. So to translate that, or I mean, just kind of go through this. 1976 average rate was 8.8, 1986 was 10%, 1996 was 7%. 2006, the average was 6.4%. 2016, 3.65%. And in 2026, the medium, or the average, uh, percent on the interest rate was 6.4%. So that, that has gone up and down, up and down. But the trend line for the average home price from 1976 was 38,000. 1986, 80,000. 1996, uh, 120,000. 2006, another 10 years was 221,000. 2026, $420,000. So that trend line has gone up every 10 years.
[12:09] Yeah.
[12:10] Every 10 years, but then again, the mortgage rates have gone up and gone up and down, up and down.
[12:14] That's Andrew Lynn, by the way. Uh, and of course, he's with ERA One Team with offices right here in St. John's County and throughout Northeast Florida. Go to ERA1team.com. What's interesting when you go back and look back to when I first got my first mortgage, we were talking in the late 80s and you were saying the average rate was somewhere around 10%. So think about that. 10% though, those interest rates stayed at that point and our incomes were much lower then, right? So, you know, even arguably even more impactful, right? A 7% mortgage rate today given our incomes versus a 10% mortgage rate in the late 80s. Um, you know, you can get more house for the money today than you could back then.
[12:54] That's right.
[12:54] And I would argue, you know, every situation is different. Um, I would say in 1976, we didn't have iPhones, we didn't have the DoorDash where we want it, we want it now, right? The instant gratification. So, but this, this does show you trend lines that over time, if you can enter the market, enter the market. Just to add to this, I just got back from a conference not too long ago and they were talking about this. Obviously, rates are a big, uh, big topic in affordability. We have rates have been historically higher for longer through the last eight years. They're going to change. They historically can historically, if you look at economic data, cannot stay much higher for longer. And with the Fed raising the rate recently, and for your listeners, the 30-year mortgage is tied to the 10-year, right? So what we saw is we did see a small tick up, but the 30-year didn't change that much because the market has already kind of baked in that that the Fed was going to do what they did. Um, that being said, I I don't do not and do not claim to have a crystal ball, but I again, if you find a home and you can negotiate what you can for your monthly payments, get into the home, if you can do it, and you and secure the home that you pick with the inventory where it is and being, um, the market that it is. And then over time, then reduce, you know, renegotiate, um, refinance your mortgage. Um, these rates will, they will adjust.
[14:26] Yeah, the odds are, will come down. Obviously, the Fed is trying to fight inflation and because of the ongoing Iran war and other pressures, you know, that's probably going to be the case for the next year, but that doesn't mean that certainly by the end of next year and then certainly in 28 with an election year and so on and so forth, there's a lot of pressure for interest rates to come down at some point and then you refinance.
[14:45] And I would just, I would just give you historically buyers, um, transact in nine months roughly is the kind of the average. So if you're looking or thinking you're going to look, get with a professional, start the process, get educated on what's out there. Get educated on the area. But start that process now. And get truly get, get in the, um, start previewing some homes and start understanding what's out there and where the market's going.
[15:10] Yeah, yeah. And also get a sense of what you can afford, you know, get pre-qualified and all that sort of thing. It will not be, we promise you, it will not be as discouraging as you may think as you sit here considering it. Once again, if you're someone out there thinking of buying or selling your home at any point in the next year, I would argue now is the time to at least reach out. Start that process with Andrew Lynn and his team at ERA One Team. ERA One Team with offices right here in St. John's County and throughout Northeast Florida. Go to ERA1team.com. We'll be back. Drop things up with Andrew. Stay tuned.
[15:55] That's Toto here on 139 WSOS. We're live from St. Augustine. Three minutes after 11:00, 82 degrees. The National Weather Service now saying that we'll top off at about 86 degrees, a little warmer than we thought.
[16:06] It's getting better.
[16:07] Yeah, we'll keep a 20% chance of rain around. Our best chance of rain this week is coming on Thursday, Andrew Lynn, a 70% chance of rain, not just in the afternoon, all day long. Um, I guess that's bad news, but we can always use the rain. The good news on that though is that behind that rain is some much cooler, drier temperatures with high temperatures only getting to about 80 degrees on Friday, Saturday and Sunday. And very little chance of rain. The weekend is looking absolutely stunning.
[16:35] Well, I don't know. I'm not going to say I'm ashamed of this, but I'm starting to put my pumpkin stuff out. So getting that that time of year.
[16:41] You get your first pumpkin, uh, latte yet?
[16:44] Oh, gosh, yeah.
[16:45] Oh, yeah. You like pumpkin. I love pumpkin stuff, too.
[16:47] Yeah, I'm tempted all the time. You know, when you go to Costco and they have the $5 pumpkin pie that's like, you know, as big as your dining room table if it's circular. And I'm always I always walk by that pie because I love pumpkin pie. I'm like, I can't do that. But I think one day, you know, it'd be nice to have just a spoon and just go get one.
[17:05] Yeah, let's go get it.
[17:06] Yeah, just go get it. I'm always scratching my head, too, because I'm like, how do they make that big old pumpkin pie for $5.69?
[17:12] I know. I know. We, you know, I've got all girls at the house and so they love pumpkin season. We were actually down in Daytona for some basketball tournaments this weekend and went to a Seven Bridges coffee shop or whatever. Never been there and just everything pumpkin and holiday and all the different flavors is That's what we do.
[17:31] That's awesome.
[17:32] Yeah, Andrew Lynn, of course, uh, dad of some young girls and yeah, that's probably interesting at your home, right?
[17:38] Oh, yeah. One guy, three ladies.
[17:40] It's exciting. It it's good to have that many folks to keep you on track.
[17:45] I've never heard it that way, but yes. I and I've always needed some guidance there.
[17:50] There you go.
[17:50] But I have, uh, yes, I am. I I am never, well, I'm not saying I'm never off track, but I am I'm kept I'm constantly reminded where I'm going.
[18:00] Well, he's got a beautiful family and we're appreciate him being a part of our community.
[18:04] Andrew Lynn, of course, uh, at the time team at ERA One Team. Hey, if you have any questions about real estate, uh, you know, send us a note on Facebook. Just go to WSOS 1039. Uh, leave me a message. You guys, we do that a lot. I hear from people, by the way, all the time. They usually are asking me about our advertisers and how to get in touch with them or they have questions for when we do these interviews for the next time they're coming on. And so I can either relay that, well, I will. I'll relay the question directly to Andrew if it needs to be addressed immediately. Or maybe we'll use it as a general topic question for the next time he comes on. He tries to join us here once a month.
[18:36] Yeah. And I would just, I just add to, uh, that, that, you know, question comes up about rates. We talked a lot about rates in this last couple of segments and the market trends where they, where it's going. If you have any questions or doubts or thoughts, again, yes, love to answer your questions. No sales pitch whatsoever, but just to understand and best to understand, um, where things are and where they're going. Happy to help wherever I can. And again, that's from purchase, rental, sales, um, title, all that stuff.
[19:03] Yeah. Andrew, uh, along with his dad and others, his whole family, they've been involved in residential real estate in our part of the world for really for generations now at this point. So he knows his stuff. So you might as well tap into that. It's not going to cost you anything and I can attest there won't be any high pressure sales. So we encourage you to reach out to him.
[19:19] Yeah, we're not, we're not as old as, uh, St. Augustine, but we've been around 50 years. This is our 50th year. So, uh,
[19:25] They didn't sell, you know, Pedro Menendez his first home, but they they caught him on the second one.
[19:29] My wife's, uh, is related to Geronimo Alvarez, the oldest house in St. Augustine. So, yeah, so you know, our roots go very deep. That's that thing. That's her fourth her fourth great-grandfather.
[19:40] That's pretty cool. I did not know that.
[19:42] Yeah, that's really awesome. Well, one day we'll get your wife in here.
[19:45] Absolutely.
[19:46] And we try to do that this summer just with, uh, plans and trips and stuff. Didn't didn't pan out.
[19:52] Well, we'll make that happen. Once again, Andrew Lynn, ERA One Team. They're also, uh, always out there, you know, willing to consider, you know, new members of their team. If you've ever thought about, uh, potentially being involved in real estate here in our part of the world, that obviously, you live in one of the hottest markets in America for real estate. So it could be a very good career move for you, right, Andrew? And you'll be happy to talk to people.
[20:12] Yeah, absolutely. We'd love to engage you in in the questions as far as entering the market to get your license. Um, again, I would always encourage people to talk. If you are going down that path, talk to multiple brokerages. They all do things completely different. Find what works for you. Um, we are a full service brokers. We have a full-time trainer, uh, non-competing broker. Um, we have lead sources through all the major banks and, um, major corporations coming and going from from, uh, Jacksonville to St. Augustine, to Palm Coast, to Daytona, and also up to Southeast Georgia. Um, so we do cover the the gamut as far as the market, uh, in in in Northeast Florida.
[20:53] Yeah, well, take advantage of that. Once again, you can reach them at ERA1team.com. They're very active on social media as well. ERA1team. The phone number here in St. John's County and throughout Northeast Florida, 904-641-1400. 904-641-1400. Andrew Lynn, we appreciate you, man. Thanks for coming by.
[21:15] Thank you for having me.