It's a great time! With the value of the euro/dollar and the declining prices, it doesn't get much better for you. I bought a 2nd home in Sarasota in April and bought for $50,000 less than the previous owner did 2 years ago. I had a fabulous agent. If you would like her information with the Michael Saunders Company, email me.
good luck! It's a really beautiful place to live or just visit.... more
Housing markets are local and 15% may be true as an average in one market, while another market may have totally different averages. Even if your market reflected that most sellers overpriced their homes, the same may or may not be true for the specific home you are considering. The home you are considering may be priced aggressively and applying a standard method to pricing may cause you to make a decisoin that results in someone else being the buyer. In other words, use real data and real comps in arriving at your offer price, versus a generalized news report. The news report has its place and serves a valuable role in discussing trends and informing the public, but is not the best method for arriving at an offer price. The macro as well as the micro view are important, with the micro view carrying greater importance in determining an offer price.
Yes, many sellers are having a hard time of letting go of what they want their properties to command in today's market. Although more markets across the US are buyers markets right now, there are locations that are currently sellers markets where properties are appreciating and sales prices exceed list.
Deborah Madey - Broker
Peninsula Realty Group, Inc.
(732) 530-7755... more
I agree with your assessment. There are many overpriced properties--especially in beach related communities and ponte verde. However, I have seen reductions as high as 200K over the course of 6 months and newer listings seem much more appropriately priced. The bottom line is that the market sets the price; if sellers wish to sell they are going to have reduce the price to meet demand. That is a subjective call on the part of the seller--i think many have yet to appreciate the market down turn and only over time when the property stalls for months does reality set it. It is a mixed bag for buyers because no one wants to over pay and thus, in a way, it is better to sit out and watch as prices progressively decline.... more