Let's Get REAL Estate

Maybe...Maybe Not...

A lot of people think because of the real estate collapse that means it is a buyer's market. In a normal market, that may be true, but as we know...this is not a normal market. Here's the issue...Our inventory is at historic lows. What does this mean? In a regular buyer's market, the reason you can negotiate is because if you can't reach an agreement for a lower price, there is always something else to bid on. In THIS market, that is not usually an option. For now, the people that HAD to sell already have! The number of short sales is way down and the number of foreclosures has slowed dramatically. Banks have figured out that they usually do better to price low and expect a bidding war. This is evident as one of our zip codes (33311) had the highest sale price over asking price in the nation.

So is it a buyer's market? Maybe...but not the typical kind. Because of our inventory levels we are seeing prices inching up...NOT DOWN. Don't be fooled by incomplete media reports or sites like Zillow. They are good to use as just ONE tool in your search for property. As your Realtor for the complete picture.