It seems that on every evening newscast there is a story about the real estate market, both locally and national. It's a "Buyer's Market" is the common theme. The next statement tells us the prices are still rising 3 percent to 7 percent. So what is it? Because you can't really have both.
I actually believe we have neither. Sellers aren't giving their property away and price appreciation, although minimal, is not what we have seen over the last three to four years. One reason for these dire predictions is that we have substantially more homes and condos that have been built in the last five years. Add in property taxes, homeowner's insurance and other carrying costs, along with the owner's personal situations, and you end up with a large number of units for sale.
Remember, if you have to or want to sell a unit, make sure it is priced very well and is in good condition. Maybe you can offer the buyer or the selling agent an incentive such as a bonus. And the most important item for all is to make sure the world knows you are selling.
As of July 31, 2006, as per the Multiple Listing Service, here are the stats for real estate from just north of the Belleair Causeway through Sand Key, Clearwater Beach and Island Estates. There are 701 condominiums listed for sale and 67 that have a contract or sale pending. In this same area, there were only 21 sold for the month of July.
In addition, there are 158 single family homes for sale with only four under contract or sale pending an seven which have sold in the month of July. You might say we have a good deal of inventory.
Ric Cornelius is the Broker/Manager of Sand Key Realty Sales and Rentals, Inc. Sand Key Realty has three offices with 40 agents. One office is at 740 S. Gulfview Blvd., Clearwater Beach, 727-443-0032; the second office is at 2701 Gulf Blvd., Indian Rocks Beach, 727-595-5441; and the third office is at 309 Belleview Blvd., Belleair, 727-461-4200.