Clearwater Realtor Kenny Hayslett is working closely with several Client-Sellers in navigating through this distressed housing market. He and his Team fully understand the complexities of the current real estate crisis, and he has thus far this year sold nine properties on behalf of his Client-Sellers.
The market has not hit rock bottom yet, but according to economists in different parts of the U.S., the increased number of home sales in certain markets, specifically the Tampa-Bay area, indicate that a bottoming out of prices may soon be near. Some experts offer that the market could hit bottom as soon as late spring or early summer of this year, as buyers take advantage of the $8000 HomeBuyer's Tax Credit offered by The Obama Administration, and also make lower offers on homes they see on the market.
Experts also offer that we are in the second year of this Recession and it will take several more years for homeowners to see an increase in the value of their homes, which have fallen as much as 43% in some more severely distressed markets.
Nationwide, about 45% of home sales are distressed properties in short sale or foreclosure status. Home sales in Tampa, Orlando, and Miami, have increased, with the majority of Buyers going straight to the distressed homes as their new homes.
Where is the good news in all of this? "If you are a Buyer, there's a surplus of inventory in the Tampa Bay Area of which you can choose from. If you are a Client-Seller, getting priced right within this market and selling now will better than selling later," says Clearwater Realtor Kenny Hayslett of the Hayslett Team.
You can read more on this recent analysis of national and local property sales here.
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