The market in Tampa continues to be very challenging (what an understatement). The hardest thing these days seem to be those listing appointments. Folks that bought 2, 3, 4 years ago have lost ground. This is a shocker for them.
It is tough to have to tell someone who DIDN'T buy at the peak of the market that they have no equity or that they have negative equity. Some of these would be sellers didn't do any of the big no-no's. They didn't suck the perceived equity out with a HELOC. They didn't take out interest only mortgages. They were traditional home buyers who now find themselves upside down.
After numerous listing appointments over the past month, I have only found 1 in 10 that actually comped for more than they paid for the home even 3 or 4 years ago. So now I really ask..."Must you list?"
If you must list, be prepared to be totally committed to selling, no body buys a half baked cake.
Market perspective from: www.HomesTampaFLA.US
Rick Fifer, 813-758-7444
Florida Executive Realty
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