For the past five or six years many have sat on the sidelines awaiting the great bottoming out of the real estate market.
When did the real estate market bottom out?
I am not sure yet.
Statisticians will tell us one day when all the numbers are recorded and plotted. The thing about a market bottom (or high) is that your proof is always provided after the fact.
Here are some of my observations for those considering buying a house or condo in Brevard County, Florida:
- Foreclosures and short sales are no longer fire sales.
- Multiple offers is a common occurrence.
- Prices are rising.
- Inventory is shrinking.
- Even "flippers" seem to be returning to the market.