Everyone wants to know what is happening in the market and if we have hit bottom. I will tell you what I see and give you my professional opinion.
In Lake County we are still undergoing a market correction. That being said, buyers do not be afraid to move forward with a purchase. Sellers go ahead and put your home on the market.
When I say we are still undergoing a market correction I mean there are still some areas that are priced and selling above market value. The inventory is still high and there is not enough demand.
Buyers you have negotiating power. This does not mean you can steal a house. This means you can take your time to find a home that suits your needs, do your homework, and make a fair market value offer that will most likely be accepted. Just to let you know, despite the numerous doom and gloom media reports not every seller is on the brink of foreclosure.
Sellers you have power also. Even though it is a buyer's market you do not have to give your house away. Hire a REALTOR and listen to them. (I suggest you talk to at least three before you decide who to hire.) Take the advice of your REALTOR and price your home accordingly. Make sure your REALTOR is marketing your home effectively and keeping you apprised of market conditions. Your house will sell if it is priced to sell and marketed effectively.
Over the past couple months I have seen more buyers out looking at properties. My phone has been ringing a little more and my e-mail inbox has seen more activity.
If you are interested in buying or selling a home in Northeast Lake County, Florida call me.
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