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The Sarasota/Manatee county market from a Broker's eyes
The way that real estate is now bought and sold has changed so much over the past few years. Buyers now choose from foreclosures and short sales with the seller owned homes being the minority.
Working in the Sarasota/Bradenton real estate market today is like being back in 2005 again with the multiple offers pushing the price over asking and all this within hours of the home being listed. Buyers have to be educated on how to actually get one of these bank owned deals!
The other part of the market is still moving slowly with homes collecting days on the market and price reductions until they are more competitively priced to the foreclosures.
The first time homebuyer is once again having a hard time securing their dream home because there are so many cash buyers in their price range. The cash buyers are second homebuyers that have patiently waited for these prices and our investors are back too!
Short sales are finally moving but not without a lot of grief along the way. The documentation required from the seller is lengthy. The banks are spending so much time with BPO's when they need to just be doing an appraisal. It's still up ... more
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