Multiple Offers are back!

Posted by Jane Ebury on Thursday, August 23rd, 2018 at 7:08pm.

Lets all raise a glass to all us Mom's out there that completed another successful summer break! And managed to get our children back to school on the right day, wearing the right clothes - phew!!
Red Tide has been prominent in the news recently. Although it's been severe this year, the State is actively dealing with the situation and our beaches are returning to their pristine conditions.  For more information, Michael Saunders Blog explains the causes of Red Tide and what the County and State are doing about it.
The market to date is amazing!!  Typically, July is quiet and you will see some decrease in activity in the stats below.  However, personally, I am actively working with buyers who can't find the perfect home because of a lack of inventory. Correctly priced homes are experiencing multiple offers, however, sellers that have listed their homes at inflated prices hoping a super hot market will deliver a buyer willing to pay the price to secure the home, are now realizing that ship has sailed.  
Are prices decreasing? No.   
Here's whats happening - For example, a seller lists their house at $325,000 hoping to maximize their sale price, however, the market value for that home is $300,000. After a period of time on the market without an offer, the seller decides its time to reduce the price. This does not mean there is a drop in prices. The value is still $300,000 - it just means that buyers are informed and have no appetite for over priced homes.
We are currently in a Neutral Market - this is the best market to be in if you are looking to buy and/or sell. However, if you are looking to flip or invest short term, I recommend you consult with me before making that purchase. Depending on how long you are planning to hold the property, could make an impact on your return on investment.
If you want to know more details about the current real estate market or have questions regarding the area. Please feel free to text, email or call me - happy to help!

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