I just read an article written by a local Melbourne, Florida Realtor® Sandy Shores (I'm looking for a Steal, I want to Buy for Pennies on the Dollar) about some of the types of calls we sometimes receive in Brevard County, Florida from interested out of town buyers.
The post made me think about our sometimes flawed thinking when it comes to the depressed real estate market.
In real estate (as well as pretty much anything else) we should understand that not all good (or even great!) deals will be steals.
Attractive prices sometimes have a way of making home buyers much more optimistic and a whole lot
less realistic.
In a buyer's market there are fewer buyers with much more choice (a very competitive seller market including distressed properties).
And although I am certainly aware buying a house is not quite the same as buying a hamburger the correlation is there...
Because there is a Burger King around the corner and a Wendy's down the street, will McDonald's sell me a burger for a substantially discounted price because the competition is keen. [Is there ever a buyer's market in fast food?]
Sometimes the home seller will offer incentives. Sometimes the seller is motivated and the property is already priced well below the competition.
A good local real estate agent can help you recognize the good deal when it is offered... even when it is not a “pennies on the dollar steal”!
Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.
Read my blogs Florida Homes for Sale, Moving to Brevard County, Florida, and Brevard County Florida Real Estate Information.
