Today’s Real Estate Market

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The home purchase tax incentive and incredible home mortgage rates made a huge dent in Trinity’s housing inventory this year; and home prices took a step back from the edge of yet another precipice. 

On the home selling side, two other trends made a big difference in our local markets. In the beginning, when home prices started and continued to decline, home sellers initially remained firm on their sale price. 

Understandably so, selling a home is an emotional experience. When you put time and money into maintaining and beautifying something, you want a proportional gain. But as home sellers began to understand that it is the market that dictates price and adjusted accordingly, their homes starting selling and the inventory began decreasing. 

Another key factor this year was the increase in professional representation. Homes for Sale by Owner, a popular alternative, have not fared well in this market. Besides the challenges of structuring contracts, the most difficult part of a real estate transaction for an unlicensed person is the lack of familiarity with the new legislation governing appraisals, the mandates of FHA and VA loans, and all the nuances of buyer qualification.

These areas have changed so dramatically, that just about anyone selling their home on their own without benefit of an experienced Realtor was, and still is, at a tremendous disadvantage.

Our lives and our market will return to normalcy, it is just a slow and steady rebound. Bottom line, the trend for 2010 is recovery, and buying and selling are back in style.

Trinity Real Estate – The Art of the Deal

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In public speaking, rule number one is: “Know Your Audience.” In Trinity home sales, rule number one is: “Know Your Competition.”

In good markets and in bad, effective East Lake Trinity real estate agents have in-depth knowledge of the elements that need to combine to sell a home. They make recommendations so the property receives every advantage to stand out in its price range. They watch the activity and the data on all the “recent solds” so their clients remain ahead of the curve. They provide concrete reasons why the home needs to be priced as it needs to be priced.

Understand that the market dictates the sale price. And while you don’t want to sell yourself short, don’t reject the first offer that a buyer makes. You need to work with your local Trinity real estate Realtor to respond with an appropriate counter offer.

The first bid a buyer presents is typically not the highest one; they are usually testing the waters. If they are making an offer they are interested in your home, they’re just trying to get a good deal; and the art of the deal is founded on the art of negotiation.

Selling a home can be a very emotional experience. But you can’t take an offer personally; you need to look at your home as a commodity and approach it as a business transaction.

Tarpon Springs Pool Home

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Trinity Golf Course Home

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Financial Amenities in Trinity Real Estate

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Condos have long been an affordable home purchase option and offer tremendous advantages. They can provide residence in exclusive areas like Trinity, Fl without the expense of a single family home; they typically offer access to a wide range of amenities like tennis courts, pools, and fitness centers; they offer surveillance systems that provide additional layers of protection, and they require reasonable association fees to cover exterior maintenance.

But, by virtue of their design as a community that shares expenses, other condos in foreclosure or in default on common charges can become your problem. If you are considering a condo in today’s market, a full assessment of the financial health of the complex will be conducted by your lender. But before you even present the property for purchase, a little knowledge will save you time and potential disappointment.

Your Trinity real estate agent will assist you to investigate the economic standing of any condo association and provide all the statistics you require. But the major points to be aware of are:

  • Budget – What is the current condo budget versus the income and expenses? How do these numbers compare to previous years?
  • Reserve Study – What is the maintenance plan and how will it be paid?
  • Special Assessments – Have there been any and are more planned?
  • Delinquencies – How many owners are behind in their payments?

On the flip side, if you are currently interested in selling a Trinity, Fl condo, we will assist with the same type of analysis. While any sale in this market needs to target the right price point to get buyers interested, the whole picture is part of the deal in the condo world. If the community itself is not fiscally attractive to buyers or bankers then nothing else really matters.

Don’t get me wrong; there are plenty of condominium complexes that are attractive both inside and out. They are well maintained, have all the right owner-occupied ratios, and are financially sound. The caveat here is that if you are buying into a development or selling out of one, sometimes beauty is only skin deep.