It seems that the log jam has began to break! Both Sarasota and Charlotte county, North Port, Venice, Englewood and Port Charlotte to be more specific increased by 24% on sales in June over May and is up 11% over sales last June. Many people who were waiting for the bottom to hit clearly see that may have happened. June has been extremely busy and it is snowballing into July. There are MANY buyers in Que just looking for the best deal on the right home.
North Port offers the newest, largest and least expensive homes in this area of Florida. If you have been scoping out Venice and Englewood the time is right for the taking. Prices in many cases are 50 cents on the dollar as compared with 2005 prices, and offer a great value. With this being said many of the foreclosures that hit the market are priced low even for today's market conditions. This has caused a rush of buyers and agents to view these under priced homes looking for a bargain and created an enormous amount of traffic on these specific homes. The result has been Multiple Offers and homes selling at or above list price in a bidding war situation. This is not the case on all homes, mainly the ones that are obviously under priced as compared to similar homes with similar criteria.
Contact a real estate agent and he or she can do a buyers comparative market analysis (CMA), based on recent comparable homes and give you a per square foot price range for what similar homes have sold for in todays market. This can prove to be a helpful guide for what you should offer for a home. Again this is a GUIDE as there are many variables in homes such as condition, location and so on. In closing, be realistic with your offer. If you make a ridiculous offer on a home expect a ridiculous counter offer.