No one knows for certain what this year will bring. We do know that nation wide there are approximately 2M homes on the market, interest rates are extremely desirable, many potential buyers have been waiting a long time to make their purchase, many sellers are motivated, "foreclosure" prices are creating the new market pricing etc. etc.
We expect that great buying opportunities will continue during 2009 with the best possibilities existing through the earlier portion of the year.
This will put things in perspective: In North Port a 3/2/2, 2004 constructed home, with all appliances and in move in condition was listed at $64,500 and sold in three days. This is a price that doesn't cover the materials......Was it the right time to buy? Would the price have dropped more by waiting?
There is one thing for certain, waiting will definitely provide greater clarity but not necessarily the best opportunity. Finding the best opportunity is up to the buyers individual interests and needs.
There are currently over 1,700 "short sale" and "foreclosures" in Sarasota County that represent sinerios similar to the one previously mentioned. We would be happy to share additional information as needed.
The Eckler Team
Michael Saunders & Company