What a spin!

Last night, a national news broadcast reported that the housing market is still in a slump, with new sales only increasing by .3%. What they don't tell you is that these figures are based on the crazy years in real estate which we experienced recently.

Those who have been in the real estate industry for many years can tell you that what we are experiencing currently is a NORMAL MARKET. They will also tell you it is a very strong BUYER'S MARKET. Yes, we have 6 months' worth of inventory currently listed in Pinellas County alone, but this gives buyers even greater purchasing and negotiating power. Properties that buyers couldn't afford two years ago are now priced reasonably and are accessible. Not to mention that we are no longer having the problems with appraisals that we have been having in the recent years. Appraisals are now matching the purchase price in most situations which makes for a smooth real estate transaction.

For those sellers who have been lied to by their realtors, and told their property is worth much more on the market than it truly is, this is a frustrating time. For buyers who couldn't afford waterfront property two years ago and suddenly can, it's an exhilarating time. I predict by the end of summer, we will see listed properties start to sell at a steady rate. Remember, we are still seeing historically low interest rates for mortgages with many incentives and various programs designed to help first-time home buyers and those in certain occupational fields (i.e. healthcare, public safety, armed services, etc.).

Not to mention, Florida is a destination state! Nothing will stop people from moving to Florida from the cold North! If a home is priced right, it will sell. If a home is marketed to the right people, it will sell. Don't lose faith in the real estate market - you'll be pleasantly surprised!!!!