Tuesday, June 10, 2008

Two different Markets, at the same time and place?

As I suspected the sales in bradenton where up overall compared to last year, Not as good as the cape coral, fl market that had a 41% increase! But, I was busy, too busy to tend to my blog.
It seems like the market just slowed down much faster than usual. Summer time typically has the buyers that are looking for upgrade, or relocation during the summer recess from school. These buyers are few and far between.
Most of the buyers that I have been dealing with are buying Cash, or if they finance they are overly qualified buyers. It seems that the perception is this is a time to pick up that bargain in Florida.
As I see it there is the Second home/Investor buyer, and the Workforce buyer. It is amazing how we can have two different scenarios playing at the same time! The people with plenty of cash are scooping up bargains, while the "workforce" deals with foreclosures, and short sales.
Actually there has been signs that the luxury second home market is having a rebound in bradenton. There was a record sale in Waterlefe last month. 1.3 million for a 3200 sqft home, while two slightly smaller less lavish homes sold for less than half that price.

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