Pensacola Real Estate

May 2006 Real Estate Update

I published this via e-mail back in May of 2006. I'll be interested to compare May's 07's stats when they come available early in June!

Just wanted to let you know that we are in a BUYERS market. The likes of which we've not seen in many years. Listings are up 400% over last year. Sales are down 27% over last year. The law of supply and demand is a work once again. Only this time it is benefiting buyers!

I just helped a lovely couple negotiate a contract for over $40K off the listed price. It is a great time to buy!

Interest rates are still pretty good. Rates are hovering around 6.5% or so.

I would love to help you or your friends buy a home in this great buyers market.

Last year, about this same time, sellers flooded the market with a lot of over priced homes. Buyers revolted. Prices are on their way back down and buyers would do well to get back into the market now!

Before Ivan hit in September of 2004, I was advising sellers, as early as March of 2004 to put their homes on the market due to a dwindling supply and high demand. Prices were on the upswing and a seller could expect multiple offers on a reasonably priced home. Those days have ended. Buyers now have several homes to choose from. They can make an offer on a home, and if it is not accepted, they'll simply move to the next one on the list. Bottom line, great deals are ready to be had. Many sellers, both resales, and new homes are offering incentives to buyers in the form of closing costs and other extras!

It works the same with condo's. A man recently offered ridiculously low offers on 9 multimillion dollar condos, the one that responded with the best counter offer was the one he bought. He sealed the deal for hundreds of thousands below list price!

If you have friends who are thinking of investing or buying a new home, you should send them my way. I'll take care of them and make sure they are getting the best home for the best price!

I'd be happy to work with your friends who are thinking of selling as well. They'll need a top notch Realtor in this market. The days of hiring the "average Joe real estate agent" are history. I'll give them top notch marketing and top notch representation.

Thanks for the referrals. Give me a call or drop me an e-mail.

God bless,

Tom Robertson

posted by Tom @ 11:49 AM