Friday, August 8, 2014

Sarasota and Venice Real Estate Market Buyer's Update

A recent conversation with a home buyer reminded me that buyer and seller perception of the real estate market is rarely on the same page.

In the past few weeks I've worked with buyers who submitted low offers and did not receive counter-offers back from the sellers, either from a bank or from a home owner in a traditional sale.  Obviously, the market of two and three years ago when it was a buyer's market no longer exists.

I've been telling buyers we are in a strong seller's market.  If a property is priced correctly, you can possibly expect to negotiate in a range between 3 to 5% off listing price.  Sellers are no longer accepting or negotiating with low offers.

Sales data for the last 5 years show sales prices gradually climbing to 96% of the list price in Sarasota County as a whole, a statistic mirrored when looking at properties with a Venice, FL address.

Of course, you need the skills and experience of a Realtor to help you determine if the list price of the property you are interested in is in line with the market.




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