Call Me At 407-870-3581 or Email Me At NathanTutas@gmail.com
You know those $50,000 homes that were selling in Poinciana in 2009 and 2010? Yeah, those are a thing of the past. The average sales price each month for the last 12 months has been $68,000. Inventory is extremely low! And when I say extremely low I mean EXTREMELY LOW! Today (9/14/2011) there are currently 146 homes on the market in Poinciana, Florida. Considering we are a community of almost 60,000 residents, that is shocking!
I’ve been in contact with a buyer over the last year or so who wanted to buy a home in Poinciana, Florida. The major theme in every communication has been “I don’t want to buy something until the market turns around”. Well that turn around happened last year in Poinciana. With home prices being stable for so long now he decided the time is now so he got back in touch. He might have thought it was time, but the market had different ideas. The market said “you missed the boat dude...sorry”.
He is pre-approved for a $50,000 mortgage and wants to buy a home. Not happening unfortunately...Poinciana homes have been very low in price for 3-4 years now and people from all over the world, as well as locals, now know that you can buy a nice newish home here, in a nice area, for under $80,000. What that means is that investor activity here in Poinciana, Florida is very strong. It is currently a seller’s market and sellers want cash offers.
It’s the nature of the beast in this business. When it’s a buyer’s market, buyers tend to lowball their offers and hope to get a steal and end up not getting anything accepted. When it’s a seller’s market you can’t find them a house because inventory is so low and everything has multiple offers, most of which are cash. Some people will get it and be successful in buying into the American dream and some will crash and burn. The difference between these two groups is simple. The ones who do buy into their dreams are the ones who listened to good advice from those who knew and made reasonable offers and ended up buying a home. Sometimes that means offering less than listed price and sometimes that means offering more than listed price.
I always tell my kids “You can’t hear with your mouth open”. Are you listening?
Image courtesy of hm7 at Flickr
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Tutas Towne Realty, Inc
Florida Licensed Real Estate Brokerage
Bryant Tutas
Broker
628 Grand Canal Dr
Poinciana, FL 34759
© 2012 Created by bryant tutas.
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