Those are the words realtors are hearing from their clients day in and day out. Since the onslaught of higher insurance premiums and the delivery of tax bills this week, owner occupants and investors want to sell out.
Unlike 2005, where sales were brisk, sales this year have been sluggish. We all know the reasons - taxes, insurance and hurricanes.
One other reason is the number of units on the market and their respective asking prices. I understand a seller wanting to obtain the best price, however, some are just plain unrealistic. Condition of the unit is a big factor whether you sell or not. I constantly hear that unit "x" sold for $800,000, so my unit should be worth $925,00. Unfortunately, that is not the way it works. Unit "x" was completely remodeled at a cost of $75,000. Therefore, the units are not the same.
If you want to achieve a sale, you need to price your unit properly and be certain it shows well. Just because you have a Gulf front unit doesn't mean you warrant the highest price. Another problem is glut! There are so many units to choose from buyers are very picky - they want the most bang for their buck and don't want to do a 100 percent remodel. Keep this in mind when you go to sell.
For the 31 days ending October 31, here are the stats for real estate in our area (MLS areas 476, 477 & 478). For condominiums, there are presently 702 on the market as active, 22 as pending sales and 7 sold for the month of October. As for single family dwellings in the same time frame, there are 178 active, 3 pending sales and 3 sold.
There is a lot to choose from.
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.
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