The State of Real Estate…and More in Sarasota

I’ve been a published writer for 40 years, but I don’t ever recall the challenge of writing a column like this one. How could I write about Sarasota real estate with any meaning—when we don’t yet know the meaning?

Could you ever imagine a situation where we’re nearly afraid to go outside…no longer smiling or making eye contact…and for many, the double-whammy of also worrying about how to make ends meet?

A world put under house arrest without committing any crime. It boggles the mind.

Are there any positives? Any silver-lining? Will having the world all but stop spinning cause some people to not take life for granted? Let’s hope.

I have heard this tragedy will cause long-lasting technological advancements. A doctor-friend of mine predicts the medical industry will never be the same with a whole new level of tele-appointments—either on the phone or on a screen.

The real estate industry has also been forced to find ways to conduct entire transactions without a single meeting in person. Heck, there are even virtual Open Houses now!

So how is business?

Clearly it is not what it was a month ago—but there’s still business being conducted.

Personally, I’ve had two listings in the past few weeks, and two buyers! I asked the Managing Broker of Coldwell Banker’s Downtown Office, Matt Day, and he gave me the following update:

“The buyer pool remains active especially in the lower price ranges and the motivated sellers and buyers are coming together. Throughout this challenging world-wide pandemic, as raw as this may sound, the constants remain in real estate: Death, divorce, and debt. Those sellers, in any one of those categories, typically are the most aggressive in pricing and willingness to sell and will, in turn, drive listing activity and pricing,” Day said.

So with interest rates low…and people spending a lot of time at home, and perhaps thinking more about their housing situation, we could be around the corner from an exciting juncture in Sarasota real estate.

In the meantime…

In the meantime, we’ll get through this together and hopefully have stories to tell about it years from now—some good. And if we pass along the bayfront, don’t be afraid to make eye-contact or even smile. I won’t leave you hanging.

Ray Collins helps people buy and sell homes for Coldwell Banker, leveraging his background in media, marketing and knowledge of the area. to help make dreams come true. For questions, write to Ray.Colllilns@FloridaMoves.com or click on this short video resume.

Photo from Ray Collins.

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2020-04-19