Just when all the "nay-sayers" were predicting another year of a blique year of real estate, I have found myself feeling like I am in a time warp when the market was competitive -- which is essential to a rebounding market place. In one instance, there was a foreclosure property, 3/2 in Coconut Creek, priced at $180,000. The first day of the house being on the market, 20 agents (and counting) descended upon the home with their anxious home buyers. The home wasn't in the greatest shape, but for a handy person, it was a heck of a deal. There are many great opportunities to find these deals but the buyer needs to be very active in seeking them out and not afraid to put in multiple offers until one finally sticks.
Interestingly enough, too, I am seeing homes for sale that are receiving multiple offers; plenty of cash buyers; an astounding number of investors, and an overall anxious market atmosphere. What is happening then? Is it the tax credit creating all of this buzz? Maybe it is the interest rates.
Personally, I believe that buyers finally think they're receiving a fair or fantastic deal. The prices are now at a level where buyers can actually afford them. Taxes have gone down proportionately, as well. People that I'm working with are feeling the positive momentum of the market place. I am too! The tax credit is certainly an incentive, but it is not everything. The buyers appear to be most concerned about receiving some of the best interest rates in history. For those who can receive both of these incentives, the opportunity is now!
Call me or email me with your real estate questions or observations. I'd love to hear from you!
Barbara.Bellani@gmail.com or reach me by cell at 954-818-1275.