Come on In, the Market's Fine!

posted by Regina Brassil

Enough of the so-called "bad news" - here is the GOOD NEWS about Sarasota area real estate:

Inventory in Southwest Florida is at an all time historic high. Prices, therefore, have fallen, creating a classic Buyer's Market. By definition, a market that is favorable to the buyer.

While I would never recommend "buy and flip" type investing in these conditions, there are those who should absolutely consider buying. The classic rule of investing in anything is to "buy low, sell high".

* If someone is looking for a primary residence in which to live for many years, conditions are favorable.

* If someone wants to buy their dream retirement home in the near future, this is a great time.

* If an investor is looking to buy and hold long term, what better time than when prices are low?

What if the market goes lower? No one , of course has a crystal ball. But for the long term investor or buyer, history would dictate that eventually, the market WILL go up. We live in SW Florida. The baby boomers are getting ready to retire. People still want to live in the paradise that is Sarasota, and will come here.

Don't forget, when considering a purchase, all the factors are important - what if the market goes lower, but interest rates go up? You may ultimately pay more. Interest rates are currently at an 8 month low.

Buyer's Markets don't last forever. Just as many Sellers are regretting not selling when the market was hot...I fear many people looking to buy a home are going to regret not buying when they could have bought low.

For those in the market to buy in the near future, now may be a perfect time.

Consult a Sarasota Real Estate Agent and claim your piece of the Gulf Coast.