Time to looking at moving up

We all know that our market from Sarasota to Longboat Key, Lakewood Ranch to Anna Maria Island has taken a big hit in prices over the past couple of years.

That is the past now we need to start looking at the future.

For the moment lets just say prices have hit bottom for housing in our market. Some may argue yes or no for various reasons but the fact we are seeing a steady increase in sales and less price depreciation gives us at least a murky bottom.

What that means for the home sellers who are not underwater (owe more than their home is worth) it really is time to start thinking about the move up market.

A couple of quick reasons.

The number of homes for sale on the market is down, about 24 percent in January year over year for Manatee and 29 percent for Sarasota. Less inventory means less choice for buyers and more opportunities for sellers.

Mortgage rates are at historic lows. Think early 1970s lows. A lot of people have never seen mortgage rates this low.

Your buying power has increased. The price of homes has dropped significantly. That mansion on the water that was unattainable before may actually be in your budget now.

A few years from now I am sure many people will be looking back and saying I could have bought that house for (fill in the blank) and kicking themselves for not doing it.

If you can sell your home now and make money the buy on the other side can be that dream home that you couldn't afford before.

All the best
Greg Owens P.A.
941.932.6343.
greg@teamworksfla.com
www.teamworksfla.com