Should I buy or sell?

Commercial Real Estate Agent with Martin Realty Fla

by: Mac Martin, ALC (Accredited Land Consultant)

What a tough position to be in! My company, Martin Realty FLA, is in the business of marketing property. With over 300 years of combined sales experience under our belts, our team of 13 professional realtors is the best at selling for customers around the state.  So, what's the deal with this market?

We all see the headlines that say "sales hit 10-year bottom". The TV constantly shows maps of the US with huge price drops and slow sales statistics across the country. Some pundits fear an economic recession that is going to be driven by the high rate of mortgage defaults and foreclosures. I think real estate has been in a recession for about a year now.

Florida is especially hard hit because of the run-up in land and housing prices of 2004-2005. Investors were buying everything and bidding-up prices on speculation. Record low interest rates and easy financing were available. Many people were flipping (reselling the property for a higher price) and making big profits in very short periods of time.

As prices kept rising, the buyers started balking. Many people paid high prices - expecting to resell or develop the property. Insurance has skyrocketed because of natural disasters (remember Charley and Katrina?) and property taxes went up higher based on new appraised values. To compound the problem, new homebuilders over-shot the market and have many brand new homes and condos to sell.

Now, property is worth less money than was paid and some of these investors are not paying the mortgages. This has set the stage for a huge snowball of possible economic events. If there is less building, then there is less employment, which means less income for people to spend, causing less demand for consumer products, which means that manufacturers (world-wide) don't make as much stuff so they don't need workers, and so on and so on.

However, recently, Hank Fiskind, the famous Florida economist, came out with his predictions, among which was that the real estate market would be flat for the next year or two. Yippie-i-o-ki-ay!  Actually, that is the best news we could ask for. Under this scenario, prices won't go up or down much. Now, with a flat market, you can start planning ahead and stay ahead.

I am watching many high-priced properties leave the market. At the same time, if a property is still available, that means the owner really wants to sell. In other words, even if the price seems high, the owner still wants, or needs, to sell... so make an offer.  Both Hank and I believe the market is stabilizing and prices are leveling off. So now is a great time to buy!

For those of you thinking of selling - be smart about it. Consult a real estate professional. Ask about current market conditions, how similar properties are being priced, as well as any "innovative" methods being used to move the property. If you want or need to sell, be competitive. For the right reasons, people are still moving and changing and upgrading and investing. Best wishes.

For this and other real estate information, contact Gordon Mac Martin, ALC Owner/Broker Martin Realty FLA at 207 East Magnolia St, Arcadia, Fl. 34266, (863) - 494-2100 or

Comments (10)

Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Mac - Welcome to Active Rain and congrats on your first post.  Be sure to spend some time looking around at what and how others are blogging here.  It is a great education and lots of fun.  Looks like you're off to a great start...keep it up!

Aug 20, 2008 04:53 AM
Brad Andersohn
Retired Executive Director of Education at eXp - Boulder Creek, CA
ActiveBrad - 707.646.1876

Welcome Mac,

Glad you found ActiveRain. I'd like to welcome you with a "getting started" link that will hopefully get you off to a fast and succesful start here.  I'm Looking forward to your contributions and reading about your successes here in the rain.  :-)

Aug 20, 2008 05:39 AM
Dwayne West
Atlanta Real Estate - Canton, GA
Canton Georgia Real Estate

Welcome to the Active Rain community. You have chosen a great site with tons of information you can learn from.

Aug 20, 2008 06:15 AM
Stefan Geyer
SOA Realty - Aurora, CO

I agree...make an offer.  I advise my clients to make an offer that makes sense, and to disregard the list price, in some cases.  This applies especially in the higher price tiers.

Aug 20, 2008 12:06 PM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Mac,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!


Aug 20, 2008 01:42 PM
Ron Brown NMLS #270845
NMLS ID: 40831 - Federal Way, WA


Welcome to Active Rain! Congratulations on your first blog.  You'll find this is a great site for sharing ideas, networking, and growing your business.  If you ever have a question about VA loans, or FHA loans I'd be happy to help!

Ron Brown

VA Loan & FHA Loan Specialist

First Mortgage Company of Washington

Puyallup, WA

Aug 20, 2008 03:23 PM
Connie Rice
Keller Williams Greenville Central - Simpsonville, SC
Connie Rice & Partners - Greenville, SC Real Estat

Welcome to the rain! You've joined a great place to network, make and meet new friends and discuss lots of interesting topics. I see you are already off to a great start! Stop by if you get a chance. I would love to hear your feedback on our thoughts! Well, have great time and ENJOY. Look forward to seeing you around.

Aug 21, 2008 02:45 AM
Ginger Ryals
Prudential C Dan Joyner and Young Realtors - Spartanburg, SC

Welcome to Active Rain!! This is a great site to network and share ideas!! Have fun with it!!

Aug 21, 2008 08:14 AM
Lorena Westervelt
Van West Realty - Greenville, SC

Hello, welcome to Active Rain! This seems like a wonderful environment to network as well as learn from others. I hope you enjoy yourself and participate often in the Active Rain environment!

Aug 21, 2008 09:38 PM
Peg Gilliland
Charlottesville Solutions - Charlottesville, VA
Broker, GRI, CDPE

I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.

Aug 22, 2008 07:02 AM