Saturday, February 04 2006 @ 03:49 AM MSK
Contributed by: Admin
Real estate in Sarasota, Florida is turning from a sellers market to a buyers market. Property available has increased 300% in recent months, which makes it a definite buyers market, whereas just a year ago, the opposite was true. Even as recently as last spring, it was a sellers market, with demand far outweighing available homes.
For those considering a move to the sunshine state, now is the perfect time, while sellers are lowering their prices to make that sale.
Sarasota is a growing area. For this reason, there is still good appreciation on properties, even if there is more available now than in the previous few months. With snowbird season, this surge in available properties may not remain, however. Interest rates are also favorable currently, another great incentive for the buyer. So, the Sarasota market is attractive right now for family homebuyers, as well as investors.
The Miami area is experiencing a real estate boom with the increasing number of construction works from downtown Miami to nearby areas. The surge in the demand of real property in Miami has been attributed to pre-construction sales which allow real estate investors to have a stake in the property sans the payment of taxes.
Some people have a new business idea and run with it, with great success, this is the case certainly for 34-year-old Stephen E. Johnston, who was the most successful real estate agent in Tampa in 2005. He sold 958 homes for $191,661,087. The second place spot sold $59 million.
With South Florida's real estate on the downward spiral, one can't help but ask "What does it mean now?", well for home hunters this year it just means that they'll be on a "buyer's market", expect home prices to level, although increase in streaks of prices is still expected.
It has been said that South Florida experienced probably the most successful run in it's history over the span of the past 5 years. Since the new millennium year of 2000, the land demand has hit every corner of its region. It's number speaks to itself, The increase in such areas as Pompano Beach which experienced more than 150% increase over the past 5 years, also Hallandale Beach and Sunny Isles Beach shares the same increase they have 200% or more in increase, and also probably the biggest leaper among the group is North Bay Village which has 250% in total increase.