After a less than vibrant December and January, the sales reports for February have clearly shown an uptick in sales for our area. But it is important to note that new home construction inventory, when located near resales have definitely had an impact on pricing.
From a Florida Realtors report:
- If you're hunting for a house this spring, say goodbye to frenzied bidding wars. And if you're selling, get ready for good, old-fashioned negotiations.
- While real estate brokers aren't declaring a buyer's market just yet, demand has definitely cooled since last summer and the upper hand sellers once enjoyed largely has disappeared.
- Escalating prices and higher interest rates convinced buyers to step to the sidelines in the fall, slowing the once-runaway market.
- As 2019's buying season gets underway, several factors are now in the buyer's corner: moderating mortgage rates compared with just months ago and more homes for sale, easing competition.
Here's how I can help: If you have looked up your home's "Zestimate" and been less than delighted, there are two things that can be done to bring your home up to current market value. You can claim your home on Zillow and add any improvements with $$ spent or you can send me a list of those improvements with an approximate cost and I will add to the Realtors Property Resource. Once entered, this information will stay with your property and will provide the most accurate valuation outside of a licensed appraiser.
Any questions, please call me at 941-350-2833.
P.S., Congratulations to Pat Leblanc and Renee and Scott Lewis! Welcome to Sarasota!