Holding Steady Just Under 3000 Homes for Sale

The Hernando County Real Estate market seems to be stabalizing with just under 3000 residential homes for sale. Sales (# of closings) are down about 40% from their highs this past summer and down about 8% year over year from the same period last year. New home builders are still building, new developments are still on track & filling up with new home owners but the investor flips in these developments are sitting. It is my opinion that these investors with vacant homes will have to drop prices due to the lack of demand & glut of new homes. The builders with inventory also need to sell to recoup building costs. Prices in general are drifting down & sellers need to realize that their home is only worth what a qualified buyer is willing to pay. With 2000 more homes for sale than there were last summer my advise is to shop around and dont be afraid to insult a seller or two. There are some bargains to be had both in the new home inventory market & in the resale market. As an example I have a 2 story 4 bedroom 3 bath plus office and a heated pool in great shape in a great neighborhood for $262,900. This home has over 2200 living square feet. If this is something that might be of interest call me 352 279 4408. The bargains will not last. The overpriced homes will just sit, sit, sit.