Searching for 1 year all over FL. Every realtor tells me MARKET IS HOT yet houses flood the market.

Asked by Scott, veness Thu Jan 22, 2009

I have been looking at waterfront property for the last year. Every agent in ALL markets tells me the same thing MARKET IS HOT. This can't be true because most of the homes I have seen are still on the market even though the prices have been reduced. I think the realtors all say this trying to get people to buy in a very bad market and getting worse. Whats up with this--am I correct?

Help the community by answering this question:

+ web reference
Web reference:


Deborah Madey, Agent, Brick, NJ
Thu Jan 22, 2009
Hi Scott,

Realtors can’t predict the future. What Realtors have told you over the last year is that the prices are very low and the interest rates are very low. These are 2 conditions that logically sound like it should make purchasing very favorable. Buying at a low price with inexpensive loan money is attractive.

Based upon past conditions of a market with higher prices and interest rates which where similar or even higher, the Realtors were reporting better prices.
Many Realtors bought and invested in real estate, seeing these favorable conditions. Realtors believe in real estate.

No one knows where the bottom is, and the only way we ever know is when the bottom is behind us. There will come a time when many people say, “I should have bought when……..” I can’t mark that date now, nor can anyone else; not even the brightest economists or futurists. Prices can remain low, but if interest rates rise, the cost of ownership increases. Most people do not expect interest rates to significantly rise in the short term. Rates are predicted to remain low, and prices are expected to remain stable or decrease in most markets. The pressure to buy today for fear of losing out on cheap money or cheap prices is minimal. For some, now is the right time to sell or buy. It’s a much better time to buy than sell. For those who have reason to sell, it’s the right time for them.

For buyers and sellers in my marketplace, I will provide a candid opinion based upon information I gather about their circumstances. The truth is, most buyers do not contact Realtors and individually ask for counsel. Most buyers contact Realtors and just want to know about “Property A” or “Property B”. Many consumers would benefit from interviewing several prospective buyer agents, discussing their objectives, choosing one buyer agent and pursuing their endeavors with a trusted advisor.

Good luck in choosing a trusted advisor with whom you can have candid discussions.

Deborah Madey - Broker/New Jersey/Florida
Peninsula Realty Group
0 votes
Bill Eckler, Agent, Venice, FL
Thu Jan 22, 2009

The reality is there are over 1.5 million homes currently for sale in the US and Florida is one of the hardest hit by the real estate "slow down." Prices have dropped in Florida in some locations to the pre-2000 era and we are seeing homes selling for less that the cost of building materials. Property is selling but it's the deals that are being sold....If there's a "Hot" market sector, it foreclosure sales. Today's serious buyers are looking for the "best deal" they can find and when they find the deal, it's inevitable they will try to negotiate the price even lower.

Scott, the true Florida market is neither hot nor dead but somewhere in between. Our advice is to keep looking because there is the righr agent and the perfect home for's a matter of finding them.

Good luck

Bill Eckler
Michael Saunders & Company
0 votes
Scott Riddle, Agent, Naples, FL
Thu Jan 22, 2009

It all depends on where you are looking. I work Marco a lot of waterfront property and the market in that area is on fire. There are going to be more closed sales by March then we had all of last year. Give me a call and we can talk about your wants and desires for a water front property.



This is a short sale and is not prices realistic. I have been on every gulf access home in the past week that is under 900k on Marco. Please let me know what you are looking for and I can put together a custom home search for you. I look forward speaking to you.


Scott Riddle, (CSP) Certified Short Sale Professional
Sand Castle Realty Group
239-390-0027 fax
0 votes
Search Advice
Ask our community a question
Home Buying in Marco Island Zip Codes

Email me when…

Learn more