Foreclosures up or down

I read two articles from two different local newspapers today covering the Sarasota/Manatee market.

One article talked about how the recent moratorium by some lenders on foreclosures really hit the market while the other espoused it was just a blip.

The reality is that foreclosure sales are going to be a major influence on our market for the next several months if not the next several years.

If all the foreclosures and short sales went away tomorrow it would still mean pricing in the market place would take months to get back up to the level it was a few years ago.

And that just isn't going to happen.

Our pricing is basically flat. Until the backlog of foreclosues and short sales are swallowed up by consumers it will likely stay that way.

All the best
Greg Owens PA
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com