blurbosphere.net

Boy do things go in cycles. When I first started in real estate it was considered a balanced market. No one made a ton of money but you could make a decent living. You could say I started at a rough time but little by little the Tampa Bay real estate market took off and I was so busy, I couldn’t see straight. So I did what many others successful real estate agents did, I got my broker’s license and started a team. We built up a team and a number of websites and we thought it was smooth sailing until the market took a nose dive. No one could even understand what the heck happened. A real estate buying frenzy one day, the next day the well was dry.

It’s been about 3 years of this tight market and most good real estate agents have weathered the storm quite well. It’s not been fun and it’s also very hard watching some of our past customers and friends lose their homes to foreclosures. Too many people got into the investing market ~ myself included. We are now the “proud” owners of 3 condos and 3 houses. We are also landlords to all but the one we live in.

Recent reports from our local Pinellas County MLS board are showing signs of the real estate market changing. Ever so slowly, but some change at least. The change is in the lower price ranges of $100,000 to $150,000 for single family homes. The supply for this type of home is narrowing and this forces the market to move away from a buyer’s market and go into a balanced market. Of course, only this price range is waking up but the hope is that more will come. It’s not that we don’t enjoy the buyer’s market - which is great for relocation and first time home buyers - but due to all the foreclosures and short sales, it is very bad for those that want to sell their homes.

It’s interesting for me to have been in real estate for this long and to see the market fluctuate over time. It’s hard for those that are trying to sell their homes though. I try to encourage people to be patient and to have faith. I believe the market is changing once again.