What's Really Going On?

I wish a Happy New Year to the followers of my blog and apologize for the brief respite from publishing my opinions. You might notice a newer look to the website, and note that I striving to make drewrussell.com a more comprehensive and relevant Sarasota real estate information source. The holidays were good this year for most Sarasota investors who tried their luck in the market and sold in 2005. Many investors who bought lower end condo conversion properties in mid to late 2005 are now sitting nervously waiting for the next mortgage bill to come OR a phone call with good news from their agent.

My volume of seller phone calls has increased as of late and I am enjoying working with savvy sellers who realize that the market is not crashing. The key to selling a property right now is staying within the realm of comparable sales and not being greedy. I can attest from multiple sources that the market is picking back up, but with more picky buyers and "value" priced homes. I am constantly barraged with emails from agents and sellers offering ludicrous agent bonuses and buyer rebates on their overpriced homes. If you are thinking about selling be realistic and consult an agent you trust for an accurate opinion of value. If you are buying, now is a great time to buy. Look for discounts off of list prices, but be sure to understand the value of the market is not going to crash- so be fair.

Investors have the most to consider right now. And I will return to my stump and counsel them to focus on uniqueness. Absolutely do not buy a cookie-cutter condo on speculation right now. Most developers are fetching market price and the easy flip now becoming as elusive as the perfect NFL season.... More to come, and thanks for reading!