Sarasota Real Estate at the Bottom?

Recently, one of our clients complained that although there are many homes on the market, that there didn't seem to be much of interest. She is not alone - many folks have begun to realize that many of the best properties have indeed been scooped up.

This anecdotal evidence dovetails nicely into the recent news from the AP stating that we are at the bottom of the real estate market. Sales are up, inventory is down - and as mentioned, the really good inventory is dwindling quickly.

Over the last couple of years, when I was asked when the bottom of the real estate market would be, I spoke what I felt to be the truth. The market will be at the bottom when the media declares it to be so. The reason is that people in general wait for the indicators to tell them it is "safe" to buy. Once we are told we are at the bottom, the actual validity of that statement matters little - it becomes a self fulfilling prophesy. With consumer confidence up, the numbers backing up the recovery and the added bonus of the first time homebuyers tax credit - I expect sales to ramp up considerably in the coming months fueling the Sarasota recovery.

This realtor sees things looking up.