Written by: Frank DeValdivielso • July 22, 2015• Real Estate

The Buyers are Here, From Everywhere!

Where is the inventory?

Americans, Central, South and North are buying. The Europeans have a real affinity for our area. The folks from Asia are making their presence felt, too. Does it really matter to the sellers where the buyer is from? Buyers are willing to pay fair market value…Welcome to Paradise!

Buyers from Central America already knew about us and now more of them are ready, willing and able to buy their second home here. South Americans have really taken a liking to the area and we find them from many countries and at all price points. Northerners are sick and tired of the cold weather and they don’t have to take it anymore. Many Europeans are jumping the pond to reap the benefits of living in the city of eternal spring.

Right now buyers are frustrated with the low number of homes for sale. Families that are moving during the summer, and want to be in their new home before the start of school, are having a difficult time finding a suitable home. This type of buyer wants a home that is move-in ready with little or no remodeling required. Their biggest expectation is generally that the home be in pristine condition. If it is not, then they expect the cost of repairs and remodeling be taken into consideration with the list price.

Most buyers are financing the purchase of the home. Lenders have loans for foreign nationals that allow them to buy with as low as 20 percent down payment. Locals can get even better terms and unbelievable rates! How much longer will this continue? We all know the market will slow down when the rates go up.

If you’ve ever considered moving for any reason, this might be the time to speak with Peggy Young or a similar real estate agent. When you list your home for sale at fair market value, you can expect to have it sold within four months. So, where do you want to be living on Thanksgiving Day?

Reports from the Multi Listing Service suggest that on average a home will take 86 days in the zip codes where The Florida Villager is delivered. This for homes priced between $750,000 and $1,500,000. Currently there are four months of inventory on the market, and a “normal market” is considered to be six months of inventory. This measures the number of homes that are on the market and compares it with the number of homes that have recently sold, or, are under contract.

Do you want to know your home’s value? Ask your agent, or, go online. You may find a pleasant surprise. Your agents can give you the detailed numbers for your neighborhood that will help in understanding the value of your home. Fortunately, we receive buyer inquiries every week and we have been able to find most of the families their new home. Some are still looking. So, when do you plan on moving?

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