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Taking Time to Smell the Sea Air
Happy Junel!
Those of you that know me well will perhaps be proud of me for actually taking a 3 day vacation HAHA. My daughter came in from Italy and we took a few days to go down to Key Largo (great suggestion from my Broker, Mike) to celebrate my Birthday (age undisclosed). Possibly the Universe was protesting my turning older as the journey to the Keys involved hazardous routing past roaring flames burning in the Everglades (not kidding) and the fear that the "Enormous Sargassum Belt" would obliterate the beaches there. Florida is SO dramatic LOL. But, no, we emerged unscathed into the fabulous paradise that is the Keys. Ironically NAPLES was the only part of Florida withOUT the Sargassum yet we dove into a 100% afflicted area. Every time I leave Naples I forget that I already was IN Paradise, why did I leave? 😂
So I really enjoyed Mother-Daughter time, especially with a glass of wine in hand, lying on the beach, pondering the world, at Sunset. Actually my daughter was on Italy time and still working so she got up at 5am for 2 weeks and got on Zoom calls! CRAZY! I guess like Mother, like Daughter 😄.
Generally, Florida Realtors take their vacations in the Summer when it gets quiet finally but THIS year we don't dare put our phones away during vacation! Downing-Frye has beaten last year's sales month after month this year and now in a time when we are usually so quiet, the Buyers are HERE and buying! They're catching a lot of adjusted and negotiable pricing BUT the LOWBALL days are over (for now at least). Our Inventory has been reduced just about to Pre-Pandemic levels again after such a Busy Spring. We actually are seeing multiple offers on some properties! It appears we are now in a more BALANCED market after a couple of years of strong BUYER market. My personal opinion for Sellers that are trying to Sell, is to be sure you're priced to the current MARKET, not to what you WISH the market was, and then to stay still - the Summer Buyers are especially Active!!!
BTW, I get asked about HEADLINES
all the time, i.e.,
"Mortgage rates headed back to 3.5%" and
"Crazy High Inventory Levels..."
I've got to advise that you take those with a grain of Salt- so many of them are SO completely wrong like those 2! The best source of information is your Realtor, who has eyes, ears and feet ON THE GROUND 24/7.
Despite rising Mortgage rates back to mid 6's, we are at about 44% Mortgage/56% Cash - surprising numbers when this NorthWest Luxury area is usually around 90% Cash. I'm guessing folks are riding the stock market for now.
BUYERS, if you're STILL waiting, START YOUR ENGINES and come on down (or call your favorite Agent 😁) because there is still plenty to pick from and many Sellers who are eager to start a discussion!
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