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- Reality.... Really?

Reality.... Really?
Rachel Sartain, "Rachel Sartain"
Real Estate Agent
View my 3 listings
Contributions: 434
Zillow All-Star
Since October 2009
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My office had its weekly sales meeting today. Many of you may know that I am the eternal optimist but I also try to be realistic. So, the discussion started by one agent stating that our market isn't as bad as other Florida markets (I am in downtown St. Pete); a second agent agreed and thought that our nitch area has held strong and that buyers need to understand that the prices are not going down; a third agent stated that a specific neighborhood in the area had a 30% increase in sales this past month. So I, the statistical geek, had to set them straight.
Our area is unique b/c there has been hardly any new construction (there is no where to build; we are a penisula). However, I have ran the numbers and the nitch market numbers reflect the county numbers very closely. Our immediate area has a LISTING PRICE AVERAGE of $988,000 and an AVERAGE SALES PRICE of $480,000 - WOW! The neighborhood that just experienced 30% increase in sales is b/c those sales were FORECLOSURES! This is great for investors, especially if you have taken your money out of the stock market. It is not good news for home owners and sellers. Reality sometimes hurts BUT it is time for sellers and realtors to get realistic about pricing and this market
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