First time Sarasota home buyers are now eligible for an $8,000 tax credit for a home purchased in 2009.
Inventory, low rates, bargaining power, and a tax credit? Seems like the perfect storm of home buying. We can help.
Saturday, April 11, 2009
Let's Be Honest
Sarasota real estate is attractive right now. You know the story about the interest rates, the great deals, the home buyer's incentives. (don't know about those? Write to me and I'll fill you in)
But I am continually concerned on the social media sites when a buyer asks a question about a certain home, and the best response the realtors can muster is "I'll show it to you!"
Of course they will show a home. Its our job. The inquiry comes from a potential new client. But as a realtor who works for an agency that values our customers as lifetime clients, I cant help but feel a little awkward.
Oftentimes,the property in question is SUCH a good deal that it seems to good to be true. That's what is prompting the inquiry. If in fact the property is a good deal, let's go get it. But too often, clients are not being clued into WHY it is such a good deal.
There are communities in Sarasota which are locked in lawsuits, with an uncertain outcome for HOA fees. Others have so many REOS its like a ghost town. Still others may be great places to live, but have no children in sight for your kids to play with. I've even had people told that "every home in Sarasota is less than 10 minutes to the beach". What?
I am all about getting my clients a great deal. But it is only a good deal if the community is sound and represents a solid opportunity for recovery. Selling a home is not my goal - selling a home that is a good deal in EVERY way is.
But I am continually concerned on the social media sites when a buyer asks a question about a certain home, and the best response the realtors can muster is "I'll show it to you!"
Of course they will show a home. Its our job. The inquiry comes from a potential new client. But as a realtor who works for an agency that values our customers as lifetime clients, I cant help but feel a little awkward.
Oftentimes,the property in question is SUCH a good deal that it seems to good to be true. That's what is prompting the inquiry. If in fact the property is a good deal, let's go get it. But too often, clients are not being clued into WHY it is such a good deal.
There are communities in Sarasota which are locked in lawsuits, with an uncertain outcome for HOA fees. Others have so many REOS its like a ghost town. Still others may be great places to live, but have no children in sight for your kids to play with. I've even had people told that "every home in Sarasota is less than 10 minutes to the beach". What?
I am all about getting my clients a great deal. But it is only a good deal if the community is sound and represents a solid opportunity for recovery. Selling a home is not my goal - selling a home that is a good deal in EVERY way is.
Saturday, April 04, 2009
The Times, They Are A-Changin'...
The Sarasota real estate market is changing yet again. With a couple of years of "bubble burst" under our belt, we are once again having to re-group and employ new strategies to find the best deals.
Just 6 months ago there was still room in list pricing to lower it quite a bit, situation permitting of course. We are finding that at this point, list price is alot closer to the ultimate sales price, because sellers have simply gone as low as they will go.
Although buyers have long felt that the game was to get as much off list price as possible, in todays market we are finally getting down to what is really important - which homes are a good value??
A well priced home might be worth paying full price for. There, I said it. This is completely counter to what every buyers mindset is - but I have seen too many people lose a fantastic home at a fantastic price because they wanted "just a little more off".
Let's assume there are two identical properties, each worth $200K. If one is priced at $250K, and one is priced at $175K, you obviously do better buying the lower priced home at full price than getting 20% off the higher priced home. And yet, I actually had someone say the other day "I would feel more satisfied buying the higher priced home, because psychologically I won the negotiating war"
This market demands that we stop playing games, and take a long hard look at the value of the home - if you get a deal, you get a deal. That's all that matters.
Just 6 months ago there was still room in list pricing to lower it quite a bit, situation permitting of course. We are finding that at this point, list price is alot closer to the ultimate sales price, because sellers have simply gone as low as they will go.
Although buyers have long felt that the game was to get as much off list price as possible, in todays market we are finally getting down to what is really important - which homes are a good value??
A well priced home might be worth paying full price for. There, I said it. This is completely counter to what every buyers mindset is - but I have seen too many people lose a fantastic home at a fantastic price because they wanted "just a little more off".
Let's assume there are two identical properties, each worth $200K. If one is priced at $250K, and one is priced at $175K, you obviously do better buying the lower priced home at full price than getting 20% off the higher priced home. And yet, I actually had someone say the other day "I would feel more satisfied buying the higher priced home, because psychologically I won the negotiating war"
This market demands that we stop playing games, and take a long hard look at the value of the home - if you get a deal, you get a deal. That's all that matters.
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