Recently, I had a buyer tell me,"what is wrong with you agent's in Orlando, you don't want to work!" She was talking about buying a home. Better yet she was upset because although she is buying with "Cash" she has made several offers with other newer agents and was frustrated that she can't get the homes she really likes. I explained to her that our market has changed dramatically, how we have gone from over 3 years worth of inventory on the market down to only 2.6 months. This is about where it was in 2005 before the bubble.
This is not what she was wanting to hear and she is not alone. As the leads are increasing with excited investors wanting to buy in central Florida so comes the education that it is NO longer a buyers market...... What? That is right........it is NO longer a buyers market. "But Cliff I want a foreclosure" ok, but beware the banks aren't dumb or desperate or let me put it this way they know that they don't have to deal and there are plenty of buyers with cash ready to pay asking or above asking price.
Let me say this for all of you who don't believe that there is such a thing due to the economy or what you have heard or read. Florida is a hot market right now...ahemmmm no pun intended. With a hugh push in the international buying market, retiriees and second home owners has absorbed most of the excess inventory. New home building is off the charts. So when you have little inventory and lots of buyers sellers don't need to give their homes away in other words, if priced right they will move their homes in under 90 days. Most of my listing have moved in under 30 days.
Are you too late...? NO, Â there are still great deals and no they are not short sales or bank owned foreclosures they are sellers that need to sell. So the longer you wait the more it will cost and when it comes to our economy that is a good sign here in Florida. "But Cliff I only want to get a good deal......" I always ask, "what does that mean a good deal?"
I loved the show Columbo when he would play stupid but really knew the answer. Don't get me wrong I would love to get gas at $ 1.50 per gallon but reality is $3.29 for now. I need or want gas so I can't low ball BP that won't get my wheels moving. Â "But Cliff I am only interested in buying a home where someone wants to deal."
I understand, that is why they have it on the market for you to buy either get an appraisal if you are a cash buyer and worried you are going to pay to much or get a mortgage where it has to appraise or just don't buy at all, it is your choice at the end of the day it is between the buyer and seller but the days of the deep crazy discounts are over at least for now.
If you buy smart right now it is money in the bank. Did you know that many investment hedge funds are buying up as much of the Florida real estate market as they can. Hmmmmm maybe they know something. Oh and by the way they are paying list price or close to it. That may tell you something. Good luck with your house hunting, of course if you would like a list of the best priced home in the Orlando/ Kissimmee Florida area write me at email@example.com or call me direct 321.229.5890.