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Tel: +1 (905) 415-9267 or +350 200 400 48

Bidding war looms in Sarasota

27th Nov, 2012back

259 Sarasota Bay Real Estate says that over the course of the last few months it has not been uncommon for extremely desirable properties that have been sales listed to gain multiple offers.  When this sort of situation comes about, those investors who can pay all in cash definitely have an advantage over others that are backed with bank financing, even if their offer may be actually be higher.


Sarasota Bay Real Estate is predicting that 2013 is likely to experience a greater degree of tighter and tighter bidding wars. Big buyers will start to become conspicuous in the real estate market as they hunt for unsold homes, especially distressed residential properties.  The fact that home inventories are now continually thinning, including those on short sales and foreclosures, is likely to further increase the level of competition and among buyers and add even greater impetus when it comes to prices.


The realty firm, which was able to seal a number of its own big home and condo sales in Sarasota during the course of 2012, says that home inventories in the real estate market in Sarasota this September fell to 3,460 Multiple Listing Service listings, which is the lowest figure for 14 years.  Also during September, foreclosures or short sales fell by 6% to 534 properties in the Multiple Listing Service listings from the figure of 570 distressed residential offerings from just one month earlier.  The total inventory of homes for sale in Sarasota in September shows that there is a falling share of foreclosures that stands at 15.4% for that month, in comparison the 16.3% share the month before and the share figure of 17.3% recorded at the beginning of this year.