Sarasota Homes For Sale - 9 House-hunting Tips!
Sarasota homes for sale jumped off the market in the last few months
, thanks to generous tax breaks pushing reluctant home buyers off the fence.
How beautiful to see all the SOLD signs and encouraging sales numbers.
For a moment there, some agents, sellers & buyers actually thought we are out of woods and that distressed property sales are over.
Whoa, hold your horses. Take off those rose-colored glasses for a moment and look at the market and economy in general.
Savvy Sarasota real estate experts know better. They anxiously await the next two months sales reports, fully aware of shadow inventory lurking in the shadows.
Did $8,000 and $6,500 artificially boost Sarasota sales? Regardless, the market must stand on its own now as buyers demand bargains.
More than ever, buyers want to study comps. Just the other day, I showed a property to a North Carolina couple interested in a bargain-priced 2nd homeuntil they retire to be near grandkids.
These buyers were very well informed.
1. They already knew the $362,500 sales price back in 2005 made no difference on todays $189,000 list price.
2. They knew what properties had sold in the last 6 months and at what price.
3. They knew to ask about sales price minus seller concessions.
4. They knew how many listed properties in the comp area.
5. They knew to ask about the percent of rentals in the area.
6. They knew to ask me about percent of value loss each month.
Clearly, these savvy buyers demanded a smart buy. They werent falling for the day-old chatter about 30-50% off 2006 home prices.
They also didnt want to consider short sales. To them, short sales are unpredictable at best. Before I could commiserate, they understand:
1. Buyers agents have no control in a short sale. The process heavily relies on the list agents proven experience with distressed properties.
2. The Seller must have a qualifying hardship before the banks will even consider a short sale. Simply being upside-down does not qualify as a hardship.
3. The loan being considered must be seasoned (12+ months old).
4. Just because the Listing Agent lists a property at a certain price, there is no guarantee the bank will accept list price or any kind of fair market offer. Touch. Leave it to banks to foreclose, allow the property to sit abandoned for months longer before eventually selling for $1,000s LESS than the fair market offers previously put into the banks conniving hands.
These buyers demanded the best deal they could get, or they werent buying. They didnt buy in to the Sarasota real estate experts claiming market stability and recovery.
Sarasota homes for sale Buyers are not lemmings. Dont try to fool a buyer with platitudes about the great bargain priced at list. Show me the proof! is what my buyers are saying. They fear buying into a negative position and will body slam any realtor suggesting any negative position is temporary as market returns to the good ole days. Good ole days? I hope theyre not suggesting 2002-2006. If so, aint gonna happen. If you or someone you know wants (or needs) to buy or sell a house in or around Sarasota, Florida, please contact me now. I want to be your realtor.
by: Mike Payne
Utilizing Green House Cleaning Products Renovate Your House 5 Keys to Making Your House More Eco Friendly General Savings Pointers For Your Entire Household Guide To Implement A Household Budget Template Typical Energy Resources For Common House Repairs How To Build An Outhouse? Things You Have To Know Before Hiring House Cleaners Points For House Mold Removal House Painting In The Orlando Area - We've Got You Covered! Effective Ways For Soundproofing Your House How to sell your house fast for cash when there are no buyers in the market Top Tips For House Training Puppies