Monday, May 20, 2013

Upward pressure on home prices

We continue to see prices rising due to low inventory levels and low interest rates. We are seeing well marketed homes selling very quickly. The influx of 5 corporate buyers seeking rental properties is putting even more pressure on the Pinellas County market. If the home was built after 1995. in a good location, is at least a 3/2 with just moderate fix up costs, they are getting offers from these investors before the home ever gets to the public. These investors have let the real estate community know they are a strong buyer and would like the opportunity to see these homes before the listing goes public. This is the reason you see homes go on the market for one day...to get the sale registered in the MLS service.

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