NOW IS THE TIME TO BUY in Southwest Florida
This is the perfect time to buy real estate in Southwest Florida. The inventory is generous so there's more product to choose from - smart buyers will take advantage of this prime time.
Sellers may be more receptive to consider offers. (Note: that does not mean desperate!) Right now, we are seeing sellers reducing their prices to be competitive and responsive to what the market is telling them. Overpriced homes do not sell.
The cost to rent a home continues to move upward and costs as much as a mortgage payment, however, not everyone is able to purchase and some people prefer to rent. Although the short sale and foreclosure market has been reduced in our area, buyers are still finding good deals and picking up rental properties. I've seen a couple of agents buying properties because real estate is still a good investment.
The median price is rising. According to a recent RealtyTrac report, the number of people who owe more on their mortgage than their home is worth is slowly decreasing.
Average days on market are still less than 100 days. If you are planning to put your house on the market, price it right and get ready to move!
Don't forget, seasonal buyers will be returning in just a few months. This is our northern friends selling season and according to the reports, homes are selling and in short supply.
Written By: Kathy Zorn