THE TURN AROUND IN SARASOTA COUNTY IS COMING.

I CURRENTLY AM WORKING WITH REO PROPERTIES THAT ARE PRICED TO SELL. THESE PROPERTIES WILL NOT STAY ON THE MARKET LONG. THE BANK SAYS SELL THEM AND THAT'S WHAT WE INTEND TO DO. INVENTORY IS HIGH BUT IT WILL DROP IN THE NEXT TWELVE MONTHS. IF YOU'RE LOOKING TO MAKE A DEAL THEY'LL NEVER BE A BETTER TIME.

EXAMPLE: WE JUST GOT A REO 2 DAYS AGO, 2 BEDROOM 2 BATH CONDO IN SARASOTA IN A GOLF COURSE COMMUNITY SIMILAR UNITS SOLD FOR $150,000 JUST TWO YEARS AGO. IT WHEN UNDER CONTRACT TODAY FOR $65,000.


SIGNS OF A REBOUND?
Sales are picking up in markets where prices are deflated, but the business is different than it was before the bubble burst, observers say. The housing market in deflated states - like Arizona, California, Florida and Nebraska - show signs of a rebound. Analysts say that prices have fallen to the point that those with average salaries can afford to buy once again. "The buyers are returning," says Lawrence Yun, National Association of Realtors (NAR) chief economist. "And in such a strong way that, now, we are hearing in some cases there is multiple bidding, which hints that maybe pricing is reaching a bottom point. But inventory remains high."
Source: The Christian Science Monitor, Ben Arnoldy (12/16/08)© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688