Are We Transitioning to a Seller’s Market?

Are We Transitioning to a Seller’s Market?

Comments

  
  1. Farook says:

    Good news letter to better understand approach when we put in the offer.

  2. yibing says:

    I agrree with you. It is hard to find a good deal right now

  3. Harry says:

    We hear a lot about banks holding back large inventory of foreclosed properties due to processing errors. Does this apply in the Orlando market?

    We are also seeing some new developments around Orlando. Seem to be selling well for now, but maybe in a year or two the supply/demand dynamic could change with all the new supply coming to the market?

    • Amine says:

      I have been hearing about Shadow Inventory for 2 years now and I have yet to see it. I think the dynamic will stay the same since the Buyer seeking a new house is usually different from the Buyer seeking a foreclosed property.

      The Buyer looking for a new construction has specific criteria that he is looking for such as floor plan, number of bedrooms, 3 car garage, custom built, move in ready (no repairs) etc. Usually a foreclosed property does not meet those criteria.

      The Buyer seeking foreclosed property for the most part is usually an investor looking to generate returns. He is not emotionally attached to the property and he is looking at a home from a numbers perspective.

      I met with manager of M/I Homes about 3 months ago and he said that a “light switch” went on in January and they have been doing really well with move up Buyers.

  4. Jessica says:

    Dear Amine,

    I’ve been talking to some community managers in the South West Quadrant and there is a lot of inventory coming up. One condo manager told me they have 36 units in foreclosure proceedings, the good news is that the agents doing the BPO’s know this area ins on demand and the banks are pricing the properties a bit higher than I expected, overall I think this area is recuperating faster and investors can get a high return for their rentals.

  5. Fred Benoit says:

    I think that’s probably accurate. Demand is exceeding supply on the cheap end so as long as price is reasonable – there are tons of buyers. We are still buying units but paying a bit more and seeing an upward trend for last 12 months.

    Fred Benoit | Director | Benoit Properties International, LLC

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