Real Estate Blog - Are you missing the bottom?

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Are you missing the bottom?

Are you missing the bottom?

If you want to buy in south Florida...you may want to call me soon...

Prices are holding and since March they have gone up by 6% according to Trulia.com.

The general public needs to stop listening to TV stations who are reporting information that they think is correct. After all, how many of these individuals have Real Estate licenses and really have an idea of the market trends.

Probably none. If you do...please post.

At least in south Florida, east of Federal Highway (US 1), prices are holding their own...prices on the beach are stable. Direct ocean prices have not changed as much as those west.

If you want a great deal, call me, there are a select few great deals left here...

HOW'S your market?

http://www.KarenMonsour.com, 954-464-4194 cell

Posted by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! on 05/25/2009 11:15 PM

Comments (10)

Mansions on the Beach in South East Florida in the ActiveRain Channel

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10 Comments on Are you missing the bottom?

MAY

We have got to be bouncing on the bottom Karen I agree!!

I think the general public has to stop paying attention to Trulia and Zillow...they sgould be paying attention to statistics provided by their local Realtors from the MLS.

Gary,

I'm pretty sure we are there, the lowest priced properties are gone...

I have let my buyer's on this end know that if they want to buy...they need to act now!

What is the nicest thing you can get as close to the water as possible for the $300k range.

Is such a thing possible in Florida? I'm looking to buy some investment property and I've heard Florida prices are some of the most competitive right now.

But I've also heard it's really hard to get insurance in Florida. Is that true?

Michael,

I totally agree. The customer's need to start trusting those of us who are still in the real estate business! We are here because we know the market.

It's a real shame that they don't understand...then again they may understand...however, they need us!

Ralph,

I know of two properties on the beach right now under $300K...one has a great ocean view...one has a slight view...in a great location. If you want to rehab...other than that...the next price up is in the 4's...

I'm quoting you 2/2's..which is what most people want.

Give me a call and I'll email you what is available. I'm talking about ocean front...there are some great deals on the Intracoastal...

Insurance...we can get it. I have connections for that.

MAY

Karen

The same is true here- we hit the bottom in December in my market of St. Cloud/Kissimmee Florida. SInce then, there has been an increase in sales for the past 5 months consecutively. As the sales increase so do the asking prices and multiple offers on weel priced properties have made a come back in a big way.

The bottom was here and gone in Cape Coral and Fort Myers. New listings are about 8% or more higher and we have to submit offers of list price or over, sometimes well over in order to "win the bid" on foreclosure property. Buyers just don't want to hear it. They listen to the media and the comment I hear most from buyers is that I just want them to submit higher offers in order to "boost" my commission. After they lose out on a couple of offers they usually come around.

I show the buyers proof of the area sales, but they still insist on "low-balling their first few offers. How to get them to believe our current market conditions and not believe the media that tells them they can still "steal" properties in SW Florida is the question. They always have to lose a couple of deals before they get the picture.

I think I agree too, (think) because we can only know for sure when the prices start getting higher and there are not a lot of choices again... It does appear that the First time buyer credit is helping but the upper price range is still slow in my area.

Karen, it seems like we're there her in Middle Tennesee, but who really knows.

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