I think someone patched the bubble!

Real Estate Agent with Sato Real Estate, Inc

A lot of discussion lately about the economy. Have we hit bottom, are we turning around, are the home prices stable, is it time to jump in and see how the market fares? I read a lot blogs, financial columns and of course the newsletters from our Multiple Listing service. All are contradicting each other, its hard sometimes to ferret out the truth. Sometimes we have to rely on what we see with our own two eyes.

According to our own MLS:

Single Family Homes listed Active-211

Under contract-21

Sold in last 3 months-23

Condos Listed-254

Under contract-29

Sold in last 3 months-29

What does this mean to us? The biggest thing that pops out at me is inventory is down from almost 800 homes 3 years ago. This is a very good thing. The amount of pending and closings are in a normal range, not the bubble range, that is what got us into this mess.  For someone who is not familiar with Anna Maria Island, its 7 miles long and at the widest 10 blocks.

What I know is in the last few weeks we have had more showings that we have had in a long time. We are getting calls everyday, and it's interest from people who want to live in a house rather than investors.

Anna Maria Island does have short sales going on, we do have foreclosures, but luckily we have not been hit as hard as the rest of Manatee County. We are in a special place that people will always want, our beaches, our atmosphere, our community. Its hard to feel lucky when so many are suffering, but I do!

Debi Varelis

Sato Real Estate


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