September, 2006 Issue -
(Past Issues may be found on my GulfCoastPropertiesforSale.com website under "For Buyers" Button)
The Tampa to Sarasota area of the Gulf Coast of Florida has been in a buyer's market and it’s continuing into September. The properties on the market are adjusting to the current pricing. This leveling out of the market will continue with over-priced properties being reduced to the current levels. Up to a 10% reduction in pricing has occurred on some properties. Will it go lower – I don’t think so. I personally think we’re at the adjusted level. Of course, I can make no guarantees. There are homes under-priced also – homes that the sellers and investors need to sell fast. These homes are priced to sell. And, there are sellers who are not pressured to sell and these homes are priced at the adjusted level. Realtors will be able to identify the under-priced homes. Ask your realtor® to help you. I’d be happy to assist you in my area of the Gulf or refer you to a realtor® in your area.
If you are from another state or country, this is the perfect opportunity to purchase a Florida home or condo at a fantastic price. There are still new home and condo incentives being offered at this time. The builders are offering the incentives to generate interest in their new home or condo communities. Take advantage of the incentives if you can! If you have a property to sell before you can buy, the incentives may outweigh the price of your home sale. Or, it may not – consult with a professional before you jump into a deal and be certain it works for you before you give a deposit.
Florida homebuyers buy a lifestyle, not just a home What’s your present lifestyle or your dream lifestyle: a golf course community where you can play golf and sit on your lanai watching other golfers; or, a boating community with a cruising club so you can boat to other areas on the Gulf, Tampa Bay or the Intracoastal Waterway with friends; or, live on 5 acres in the “country” and still be close to the beautiful Gulf beaches; or, live in a planned community full of activities and clubs for all ages; or, live in a 55+ community with a community center and activities. Florida has it all! Realtors know their marketplace and can recommend communities that fit the lifestyle of the buyer.
Builders are working with investors again now that the frenzied market of huge double digit increases is over. The mortgage rates are higher and flipping is more difficult than before. An investor should plan to hold their property for at least a year to avoid the short term capital gains. Talk to your accountant too and learn the IRS rules on property ownership and sales. If you’re an investor or interested in becoming an investor in the real estate arena, evaluate a property and use the tools available before you purchase. If you don’t know how to evaluate a property, ask a realtor® who has investment experience.
Watch for the October issue. I’m going to talk about investing in real estate versus investing in the stock market.
Give me a call (941) 725-2486 or email (Kristin@KristinTriolo.com) with questions or comments. My website: http://GulfCoastPropertiesForSale.com has a wealth of information for buyers and sellers of real estate.
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