Category — Statistics

So, how is the Clearwater real estate market?

This is a difficult question to answer and it is the number one question I am asked. It is all a matter of perspective and where you are in the spectrum of the real estate. I don’t recommend reading the daily newspaper headlines to understand the real estate market. In fact, I suggest stop reading the real estate headlines all together. They are far too general to be helpful.

Here are some of my many answers depending on the situation.

• If you are a buyer, it is a great time to buy. Why? There is a large supply of homes on the market for sale, which means heavy price competition and ultimately lower prices.
• If you are investor, load up. It is a great time to buy and it may be a long time before housing goes on sale like this again.
• If you are a renter, it is great time to rent. Why? There are more homes on the market not selling, so there are more property choices for renters which mean lower rental prices.
• If you are renter and thinking about buying, it is not a great time to rent. Buy. Why? It you are considering buying and renting instead, you are missing the best time to buy which is now. You will only know you missed your opportunity when prices start increasing.
• If you have owned your home more than two years, selling and then buying in the Clearwater area, it is great real estate market. Why? In most cases you purchased below the top of the market and will be able to benefit from the listing competition when you purchase your next home in Clearwater.
• If you have purchased your home in the last two years, selling and moving to a hot real estate market, it may not be a great real estate market. Why? It is likely you purchased at the top of the market and moving to a market where you may need to purchase at the top of the market again. Live in the next home for 5 years or so and history says you will do fine and make up for any temporary loss.
• If you have owned your home more than two years, selling and then renting in the Clearwater area, it is great real estate market. Why? It is likely you have equity in your home and will benefit from the large rental inventory when renting a home.

The reality is that everyone’s situation is different and it is very important to get the facts through a consultation with a professional instead of reading the latest newspaper headlines. The media does not know your situation.

Good news does not sell newspapers.