What’s Left in Entry Level Real Estate
In the height of tourist season in Bonita Springs Florida, what remains for sale on the market in entry level pricing is very little. Take, for example, single family homes under $100,000 in Bonita Springs and Estero Florida.
At this time, January 26, 2013, there are only seven single family homes for sale under the price of $100,000, excluding manufactured homes.
At this time, there are only twenty low rise condominiums for sale in Bonita Springs and Estero priced under $100,000.
There is only one attached villa priced under $100,000 at this time.
The deals. Where are the deals? Where are the foreclosures? Well, a lot of that excess inventory and those foreclosures were a few years back. If you’re coming in late to the real estate game, Bonita Springs and Estero has absorbed the surplus inventory in entry level pricing. Where the deals are, at this time, is in the $600,000-900,000 price range where properties have been selling slowly. Of course, that depends upon the neighborhood because real estate is local.
If you’re shopping for real estate in entry level pricing prepare to act swiftly and with purpose. Homes are pending within days, often with multiple offers and over list price. Be warned!