The common theme from our team this past quarter was that buyer expectations were not aligned with the realities of the real estate market here in Fort Myers. Many out-of-town buyers showed up expecting to “steal” a foreclosed or short sale property for a HUGE discount off the asking price.
The reality of the market was that well-priced listings were receiving multiple offers as soon as they hit the market. We often kidded with buyers that didn’t believe us about the market conditions that their low-ball offer was a “practice offer.” After writing a couple of “practice offers” that were not the winning bid, buyers either adjusted their expectations to submit a bid to win or went home without a purchase.
In the first quarter of 2012, residential property in Lee County Florida sold for 93.31% of asking price, here are the details :
The belief that banks are unloading homes at 50% of asking price is a myth and and not reflective of our current market conditions. Our team is skilled with helping out of town buyers find a new home in the greater Fort Myers area. Here is a resource to facilitate your search for a new Fort Myers home.