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Amazing What Happens When The Market Changes...
 
Amazing what happens when the market changes....
What happened to all of those homes for sale in Sarasota? Only a few years ago, all I could find for my clients were short sales and REOs. The regular sales seemed mostly overpriced and the sellers out of touch with the market. Buyers mostly chose to buy short sales and REOs because they could get a bargain on a home. Homes were typically updated and sold under value.
Bargains and high inventory
In addition to the bargains that could be had, there was also a ton of inventory on the market. There was no urgency for the buyers and they were in a position to visit house after house after house and then come back to their favorite home months later and it was still on the market. Many buyers simply waited it out - were on the fence. They were worried that the market would continue to drop and they'd loose their equity as well and be "under water".
Then came the Fall of 2012. It seemed all the buyers that were previously on the fence got the memo that the market was changing and the time to buy was NOW. We witnessed quiet a buying ... more

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