Sales Trends
Buyer's Market with
stablizing market in the near future
More About 2008 Sales Trends
After enjoying a few years of fast sales and rising equity, the
pendulum has swung and now it is back to being a buyer's market in
the Tampa Bay and surrounding areas. A Seller’s market is one where
the number of inventory supply does not meet the buyer’s demand and,
a Buyer's market is one
where the inventory supply exceeds the number of Buyer’s demand.
We are currently in a Buyer’s market allowing the Buyers time to do
due diligence and evaluate their decisions and to chose the home
that best suits their needs. The first slow down in the market had
builders with an over supply of inventory. The market has absorbed
the extra inventory, but now a new over supply exists with the
foreclosure market. Once the market absorbs the supply, the market
will stabilize.
The best strategy for a Buyer is to work with a buyer’s agent. A
Buyer’s agent will look out for your best interests, representing
you through the entire transaction.
In most cases, the seller
pays the brokerage fees, BUT in all cases, you benefit from working
with our company by receiving
$$$cash at closing.
A good source for shopping deals could be builder’s inventory or
with your Realtor looking at short sales. Builders have built in to
their cost of paying the Realtor’s commission and they definitely do
not discount your price if you are not represented.
Currently home prices are
varied for the same product. Again, the best advice is to
work with a professional. If you are looking to purchase a home in
an established neighborhood, an experienced Realtor will have
knowledge of the current market price. If you are driving through
the neighborhoods and checking out any open house, keep in mind that
the Realtor present will be representing the seller(s) and may not
have your best interest in a potential transaction.
Looking to Buy?
Are you looking to buy a house? Let us help you. Just fill out as
much of the information below that you want and we'll get right back
to you, with no obligation to you. We guarantee your privacy.
|
