Bonita Springs - Buyer Confidence Returning

The market movement comes in waves. For the second time in the last week a few buyers have gotten their dream home caught up by another buyer and missed the boat. Two condominiums in my inventory, priced properly, have pended sale. While in the inspection or other contingency period additional buyers have shown interest and placed back up offers or waited patiently to make sure the contingencies were satisfied.

Where did these buyers come from? How did they find these properties?

It may surprise everyone to know that out of six seriously interested parties between the two available condominiums, one half of the buyers had looked at the condominiums several weeks ago. They've been weighing their options, comparison shopping, doing their research, maybe working up their courage and they've come to the conclusion that it was now the time to buy. One buyer was a distance buyer - sight unseen and two had done their share of research and flew to town specifically to shop and buy.

Why now? Why not several weeks ago?

• Buyer confidence seems to be improving. We've luckily had some quietly publicized news reports regarding a positive upswing in the market. Read this: Hank Fishkind: Other economists wrong - housing on slow upswing
• Home prices have adjusted and sustained themselves at justified, lower levels.
• Summer is usually thought of as a slower time for real estate, due to the "Snow Birds"going home, and we've turned the bend into August. Summer is wrapping up in a few weeks. Those summer vacations are almost over and everyone is going back to work and school.
• We've had a reasonably calm storm season. We're in August and on the letter "C" named storm in the alphabet.
• Production builders have slowed or suspended building, selling off inventory homes and reducing their staffs.
  

Looking forward to purchasing a Bonita Springs home?

• The real estate market is stabilizing, yet inventory is heavy in some area, offering a greater selection and leverage for negotiating.
• Interest rates are still near historic lows.
• The State of Florida is working, in special session, to adjust the property tax on real estate.

Hope off the fence and start searching for your Bonita Springs Condo or Home.

Call Chris Griffith, Keller Williams Elite Realty 239-273-7430

Photo: Highland Woods Golf and Country Club of Bonita Springs