Wednesday, July 20, 2011
Ok People, the Bottom is Clearly Here
Ask anyone who has bought real estate in Broward County this year, or any Realtor currently working in this market. The market has tightened up dramatically as people have come into the market with a determination to buy that we haven't seen since Early 2005. Multiple offers, offers over list price on foreclosures. Today I put a house under contract for a buyer who hasn't even seen it. Earlier this week, a new listing of mine sold in hours for cash, over list, with multiple offers and a back up offer. While we are far from the heady days of 2000-2005, and prices are not increasing, there is now a price that buyers will strike with confidence. If you have been on the sidelines of this market concerned that values are declining, I am confident that that is no longer the case. Well-priced properties are finding eager buyers.