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Real Estate

What a Difference a Year Makes in the SRQ Real Estate Market!

| Ray Collins |

 A year ago, real estate listings were selling as fast as they hit the market—often for much higher than the asking price. 

Fellow-Realtors had to quickly become proficient in a couple concepts not normally used:

  • An appraisal gap addendum—where the buyer would prove they had extra money to spend if the bank wasn’t willing to loan as much as the home cost.
  • Escalation clause—where the buyer would offer to pay a few dollars more than the highest offer, up to a certain ceiling.  I used this one repeatedly with success. 

But now, we’re back to homes on the market for weeks and months at a time as well as price cuts. Those who said last year they were going to wait out this craziness can now be proud of their patience and get back in the market.

Real Estate

I ha something unique happen last weekend—I’ve been fortunate enough to buy or sell 65 homes in my first two full years in real estate ($47 million), and nearly half of those have been in a popular condo complex on southern edge of downtown Sarasota called “Central Park II.”  I had two condos almost side by side, giving me the inspiration to hold simultaneous Open Houses while sitting on a lawn chair smack dab in the middle.  My prettier half, Erin, was willing to direct traffic while I escorted potential buyers into the respective homes.  It worked—one of those who came buy made an offer the next day that was accepted.

So good luck out there!  The Sarasota area is a dynamic region that will almost certainly be a good place to buy.  People are perpetually moving into our beautiful state, and particularly our beautiful slice of paradise.

Let me know if I can help.

Ray Collins is a former newscaster who is now among the top 2% of Realtors in the region finishing first in his office in January of 200 agents. More information at Ray Collins Real Estate

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