This summer has been great for the Tallahassee real estate market. We have seen some signs of improving conditions. By that I mean homes have been selling a little bit faster than previously because there has been more buyer activity. There has also been a small retraction of the total number of homes for sale which is also a good sign. However there has been no sign of prices going back up just yet, as we still an over supply of homes for sale and the foreclosures and short sales are still putting downward pressure on prices.
Here is what to watch for... The next 4 months are generally the slowest for the market so we have that to face at the same time that the first time home buyer tax incentive comes to an end. Some say the end of the year could bring about a sharp decline in prices to reach the bottom and start seeing more "natural" buyer activity on a continuing basis once that happens.
Overall the Tallahassee market has fared well compared to other markets and it is fair to say that if we are nat the bottom we are near it and it is only a matter of time before tides change and we start the long road to recovery.
Til next post-
Mike
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Mike Carlos
REALTOR, CHMS, AHWD
Mike Carlos & Associates
Keller Williams Town & Country Realty
(850) 251-7397 Phone
(850) 531-8362 Fax
www.MakeYourMoveWithMike.info
***If you know anyone looking to buy or sell real estate, please call me so I can help them. I can also help people avoid foreclosure on their home so please think of me when you talk real estate.
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