My prediction. The market is going to bounce back this spring! Unofficial of course, but in my 8 years of selling real estate in Manatee County the colder the winter is the more people want to buy a Florida home.
Now of course, it was 32 degrees this am.. Brrrrr!! But, that's here in Florida. It's colder up north. A longer winter helps our economy since snow-birds, vacationers, and of course second home buyers have more incentive to buy a Florida home.
With 3 years of below average sales, there is plenty of people crowding on the fence. Some are going to be decide to jump in the market. Better get moving. Inventory is down to less than 1/2 of the levels of 18 months ago.
What about all the foreclosures? Well most of the foreclosures are types of properties that second home buyers tend to pass on. The beach condos, golf course, country club homes are typically owned by people that can afford them. So those owners are either holding firm, or are just taking their homes off the market.
When you are ready to get a home in the sun, give me a call. There has not been a better time to buy a Florida home in the past 7 years. Many properties are priced at 2001-2002 prices. Interest rates are super low, and of course we have sunshine, and warm weather (most of the time).
Joe Murphy, Broker-Associate
Coldwell Banker Residential Real Estate
941-780-3260
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