Take the Plunge
Everyday, I get asked, “How’s Real Estate?”. Well, I gotta say that I still love my work. Sure, it’s still a difficult market for some Sellers, but my Buyers are having a field day! And, believe it or not, some of my Buyers are still facing some pretty steep competition to purchase homes in the under $125,000 range. Sellers, if you have a 3/2 or larger in a decent neighborhood for under $125,000 give me a call!
So, where are the “deals” right now? Mostly in the Luxury and higher price range homes. Want a beachfront condo? Have I got a bargain or 200 for you! How about a Penthouse Perdido Key Waterfront condo that listed in June of 2006 for $799,900 now on the market for $339,000? (Can you say “Short-sale?”)
One might consider this Portofino condo that sold for $990k in May 2005 a good deal now at $800k (unless you are the lender who currently holds the mortgage-sorry guys, guess you shouldn’t have made that loan!).
Prefer a luxury waterfront home on Pensacola Beach? How about 3900+ sq ft originally listed for $3.25 million, now offered at a “discount” rate of only $1.825 million!
Is every luxury home a bargain right now? Of course not. But overall the prices are getting back into a more reasonable range after a few years of inflation due to investors and speculators. The main reason you will be able to find a more acceptably priced luxury home right now is because of supply. The more luxury homes on the market, the lower the prices and the more bargaining power the Buyers have. If you are leery of buying a short-sale, don’t worry- those are a very small percentage of the luxury homes and condos currently on the market. But, if you are looking to buy a luxury or beachfront home, now is really the time to take the plunge. If you wait for prices to decline further, then the mortgage rates may go higher making any “savings” you might get from that slightly lower price meaningless.
If you’d like more information on local market conditions, please email me at BrokerTrish@gmail.com or call 850-449-0908. You can also visit my website at www.ShadyTreeHomes.com for free homes searches, foreclosure lists & more!
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