The Future of Real Estate

The Future of Real Estate By Sandra Tuff-Galvin

Have you noticed recently that the rise in rates has yielded a greater amount of homes on the market? This is wonderful news for the buyer because usually, more choices means greater competition among sellers which also means lower sales prices for the buyer.

I say usually because that doesn't seem to be the case right now. Home prices are higher than they've ever been in Florida. The reason for this strange phenomenon is simple; the real estate market is very slow to respond to current social conditions and market trends. It takes on average six months or longer for the real estate market to reflect current market or social trends.

The best way to be prepared is if you are a seller; market your home based on the most recent market data which your agent has access to through the local MLS system. If you're a buyer, don't lose hope, keep looking for the right home because even though it seems to move slowly, the market is turning.

Will prices drop to an all time low? Are we in a real estate bubble? Will the market crash? Everyone is up in arms with these questions at the moment. The answer is, no one is one hundred percent sure of the answer.

The wisdom is to invest smart in your real estate transactions and with caution. This way, if the market does take a turn for the worse, you have invested wisely and are none the worse for the markets volatile actions.

If you aren't sure of what to do...give us a call today. We're here to help and happy to share our knowledge with you! We love people and we are here to help you reach your real estate goals with kindness, compassion, and knowledge. Remember, knowledge is always power!

Sandy Tuff-Galvin, Broker

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