Timing The Bottom of The Real Market
The experts all say you can’t time the bottom of the real estate market because you can’t tell it’s bottom until it has passed. The armchair opinionistas hit up the comments on the bubble blogs and online newspapers all bellowing how stupid anyone would be to buy SW Florida real estate when you can just wait and get it cheaper sometime in the future. Are these people waiting for free?
Here’s the deal. There’s a little know secret in real estate called facts and data; statistical numbers if you will. The recovery of the real estate market had to start from the bottom up. We had to start selling off our existing homes and condominiums to be able to recover and we had to start at the entry level pricing.
Since I’m a real estate agent with access to closed sales, yes, closed sale data I put it in a graph just for you so that you would understand what is happening with real estate in Bonita Springs, Naples, Estero and parts of Fort Myers. The stats above are based on numbers from the Sunshine MLS, every listing that has sold for the last year; and more specifically what sold each month under $200,000.
I’d love to have the time to diabolically twist the real estate numbers but, frankly, I’ve been far too busy selling real estate to control the real estate universe online. <insert evil laugh>
If you’re waiting to buy real estate priced under $200K know that you’ll likely encounter multiple offers on well priced properties. If you’re selling high ticket real estate, buckle your seatbelt. It’s going to be one heck of a long bumpy ride until the recovery makes it to your end of the food chain. You might want to adjust your pricing or at least put a helmet on.