So what's happening in the Florida condo market

I stay in touch with many real estate agents all over the country.  From time to time, we discuss how the media has helped to place the fear of purchasing into many buyers.

Recently, several of us were discussing the condo sales market and while the sale numbers are not as high as most of us would like them to be, condos are moving quite well in various tourist oriented areas such as Panama City and Panama City Beach, Florida.

In the past several weeks, I've written quite a few reasonable offers on condos all of which have been accepted.

Some were short sales, but most of the contracts I wrote were for reasonably prices condos for sale.

This is quite a good sign for the condo market and our economy.  As condo prices are the lowest they have been in years, many buyers are able to afford a Florida vacation condo that they probably could not have afforded a few years back.

Purchasing condos has several positive effects on the economy:

• Stimulates local economies by bringing in more visitors and residents
• Helps the home sales market by bringing activity to the real estate market
• Gives real estate agents a chance to advertise to potential buyers and sellers that the real estate market in general is not as bad as the media proclaims
• Provides income during high rental times - since the prices are low, chances are cash flow will be positive

These and several other side effects of condos sales help to stimulate local economies as well as the local real estate market for home sales.

I believe we've seen the worst for the Panama City real estate market and are about to experience a significant upswing in both condo and home sales, as well as pricing.  While pricing will doubtfully increase by leaps and bounds, I believe we will see a gradual, sustainable increase in prices through the end of the year.

What does this mean to you?

If you're a buyer, it means you can purchase a home or condo at a very affordable price.  This in turn will provide you with security for your future, a pleasant vacation spot that most can afford on modest budgets or being able to downsize or upgrade your current living conditions with reasonable assurances.

If you're a seller and not upside down in your condo or home investment, now is the opportunity to place your home or condo on the market. 

Setting a reasonable market price will ensure your sale is executed in a timely manner.  Of course, setting your price unreasonably will only result in disappointment and lost revenue.

Recently I placed a clients' condo for sale on the market and before I had a chance to advertise it, it received 3 full price offers!.  Does this mean I priced the unit too low?  Absolutely not!  It means, I priced it correctly and it sold!  These buyers were lookling for a good deal, and got one.

At Keller Williams we call that a Win - Win situation.

Sellers, please remember this advise...

When listing your condo or home for sale, listen to those of us who sell real estate everyday for a living.  We are much more aware of where the selling price points are then you!  After all, we do this everyday, month after month.

One of the most often occuring mistakes sellers make in any market is believing they can price their property better then a professional.  What happens when a seller prices their own real estate without researching the market?  If an agent takes the listing, it sits on the market.  Many times for months and months with little to no  activity. 

Is this really what you want to experience as a seller?

In every real estate market there are 2 methods of listing homes and condos for sale: You can either list your property and cross your fingers or you can list your property to sell.   Which method do you think is more profitable?

If I can help you buy or sell a Panama City Beach Florida Condo please call me directly at 850.774.6582 or contact me at your convenience.

Visit my website today and search for the vacation condo or home you've always wanted.

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