I’ve been a broker in Florida through 4 recessions.
In my opinion, the fifth is imminent. During my first recession, in the early 70’s, there were three-hour-long gas lines in Miami and tens of thousands of unsold condos. The second one was the mid-80’s Savings & Loan crisis, with 19% mortgage rates. The third was in the early 90’s with 8% unemployment. The fourth was the big real estate crash in 2008. In my opinion,recession #5, with closet home inventories artificially building up prices, “will not end well.”
My views are not shared by many brokers. I speak with property owners every day who should sell, but are waiting for the next big bubble to get more money. My advice to them is to sell now while the supply is low and buy when the supply is high. When a global crisis occurs, those who waited will see prices decline. The laws of supply and demand always rule. Seven years ago there were 4,000 properties for sale in our 16-community, 27-mile stretch of Pinellas County’s barrier islands. Today there are only 1,000.
Want some good news now? No matter what happens to our economy, barrier island property will be people’s favorite choice of where to live and vacation. Buyers are escaping super high prices in Miami, Naples and Long Boat Key for more affordable Pinellas properties. Internationally, our beaches and lifestyle are being discovered and with new construction in every town, we’re becoming more attractive every day.
If you’re not sure what your property is worth today, find out before you consider selling or buying. Most realtors will provide you with a market value analysis without cost or obligation.
If you choose to work with us, I, or one of my team members will show you 15 properties like yours in 3 different categories. We’ll choose 5 on the market now similar to yours, 5 sold and 5 more expired or withdrawn from the market. Our exclusive Strategic Market Analysis (SMA) allows you to pick a price according to your personal motivation to sell. And it’s free, without any obligation. We all should know exactly what our asset is worth before we decide to move up, move down or move around.
I believe that “trust is the currency of the future.”
I represent my clients like their property is my own and I strive to get the highest market value for my sellers. My team focuses most of their efforts around our 3 Gulf Blvd. offices.
Although this article is one man’s opinion, I can back it up with facts. We realtors want to earn your trust with truth.
All the best,
Jim “Property Wizard” Beggins
Jim “Property Wizard” Beggins, broker, CENTURY 21Beggins Enterprises, with 11 offices serving Pinellas, Hillsborough, Manatee and Sarasota Counties. Since any real estate view can be supported with facts. I will inform you to the best of my ability so you can unconfuse the facts to your personal advantage. I think I can use my “hands on” experiencein Florida real estate since 1970 to achieve your desired outcome. Please let me know how I’m doing.
Contact JimBeggins@C21BE.com or 727-254-8144.