Things seem to be looking up! But the Prices are coming down!

By
Real Estate Agent with Coldwell Banker Vanguard Realty Inc. SL659208

After months and months of no showings on listings, things seem to be picking up here in North Florida.  We are seeing more homes going in to pending and a whole lot more showings.  YEA!  The sellers and Realtors are finally realizing what the buyers have been telling us for months: that our prices were just too high.  I have been getting price reductions from sellers like crazy, and guess what, it was a the prices that I thought they should be  at the start of the listing. 

It seems to me that things are moving, just not at the pace and pricing we had from a year ago.  For those of us who have been in the real estate industry for at least five or even ten years, already knew that it was price that would bring this market to a screaching halt.  People are only willing to pay so much for a home, and if it is not what they feel is a good value they will sit on the sidelines.  If you really take out all of the active homes and look at Pendings and Solds, you might be very surprised to find that only a VERY few sold at the ultra high prices.  Even I ( sometimes I think I know it all) was swayed by the active listings vs the sold listings. 

I believe that 2007 is the year to get back to basics and price homes right!  You have to be in the bottom third to get a home sold in this market.  The consumer is extremely educated and they don't have to buy over priced homes.  There is about a 10-12 month inventory in my market and there are new homes coming available daily.  IT IS ALL ABOUT PRICE!

Comments (3)

Mario Levesque
Advantage Avenue Real Estate - Wesley Chapel, FL
Tampa Realtor

Hi Eden,

Welcome to the ActiveRain Blog network. 
When you get a chance, visit the post below for tips, info and features of ActiveRain.

http://activerain.com/blogsview/37303/For-Newbies-Getting-Started

Cheers,
Mario

 

--

Mario Levesque,
Engineer, Wesley Chapel Realtor , Broker Associate
People's Choice Realty Services,  Tampa, Florida
cell:  813-857-6918
fax: 866-252-9511
Web:  http://www.ajmasters.com/
Web:  http://www.agentfreebies.com/
Friendly, professional services always

Looking for homes for Sale near Tampa Florida? As a  Tampa Realtor I help customers in Tampa, Wesley Chapel, Lutz, New Tampa, Land O'Lakes, Zephyrhills, Clearwater when selling or buying real estate.

 

 

Feb 02, 2007 08:28 AM
Colleen Irwin
Retired - Irondequoit, NY
Creative Real Estate Solutions...
Eden -- Congratulations on your first post here at Active Rain and Welcome!  
Feb 02, 2007 11:18 PM
Eden Jordan
Coldwell Banker Vanguard Realty Inc. - Fleming Island, FL
CRS, GRI
Thank You.  This looks like fun!
Feb 03, 2007 12:00 AM

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