I'm back! After taking a break from College Park Update to get the College Park Community Paper up and running, I'm back on track. Everything at the paper is running smoothly; I have an incredible team and feel so good about the direction we're headed.
A whole heck of a lot has been going on in real estate since my last post. Rates are still amazingly low, but so is inventory. This is great for the stabilization of our market, but so very frustrating if you are a buyer! I'm learning this first hand as I'm currently in the market. After being beat out buy a cash buyer on a great house, I put in an offer over asking on the next one. With so few decent properties out there, another buyer had the same idea, but offered "significantly more" than I did. Again, over the asking price. It's crazy out there. I feel like I did back in '05 and '06 when my buyers were having to offer $10k over asking to win a bidding war.
There are so many buyers out there, just like me, who are hovering and pouncing on every new listing that is in good shape and priced well. The bottom line is, if there is a house out there that is not selling, it's priced too high. End of story. Give me a shout if you would like to know what your house might sell for in this market.
The chart below shows you what's gone on over the past 5 years. In May of '07, there were 342 properties available for sale in the 32804 zip code. In May of this year, there were 96. If you're thinking of selling, price your house right and you'll be on your way in a flash. (And if it's a cute bungalow, give me a call!)
