Fort Lauderdale, Florida.
The year 2010, not that great, but better than 2008 and 2009. Now that sellers and buyers are looking eye to eye in relation to property values, the upcoming year looks filled with promises for a balance in inventory.
After the brutal correction of values we have been experiencing in the last couple of years,
we are finally starting to see signs of stagnant values around the beach areas and some other inland areas such as Coral Springs. To the end buyer, this may not be noticeable -just a pinch out of the amount of properties to choose from.
"Stagnant values" is not a bad thing if you are a seller, because you know what the real worth of your property is. By now, you are convinced that you do not own the Taj Mahal and if it's price right, it will compete with distressed sales -REO's and SHORT SALES. You will have an advantage and be in a better position due to the fact that an occupied home almost always looks better, is well maintained and more amenable to accept an FHA or VA offers.
It's also not a bad thing if you are buyer because if you have been looking for your Taj Mahal at a discount price, you know now this is probably the best fire sale you will see. Interest rates are as low as I ever seen them in 20 years in the business, and that of course brings along a little more self assurance that your timing is right.
It's also good for Real Estate agents that have experience similar markets before knowing that you are about to enter the beautiful ‘dance of a balance real estate market’ in which Sellers and Buyers are very close in value perception and you are just there to referee a meeting of the minds. Needless to say, you no longer have to show-show-show and you no longer have to scratch your head trying to explain to your seller every week why there are no buyers showing interest in their property.
Happy New Year!
Marina Sarabia. Realtor
1 thought on “Wishing a Happy New Year filled with a Balanced Property Values”
January 3, 2011
So true Marina! I’ve actually been looking at homes for a friend. Over the past few months, we haven’t seen prices rise or fall to any great amount. Knowing the true worth of a home is making it more comfortable for people to buy them. My friend is still looking for that gem.