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IT'S A HUGE BUYER'S MARKET!...SO THE QUESTION IS WHEN DO THEY START BUYING?
Posted by V.K. [Mel] Melhado P.A. on Friday, October 19th, 2007 at 5:09am.With the enormous amount of inventory in the real estate marketplace, (now well over 3 years,) it is truly a buyer’s market. The big question on everyone’s mind is when are they going to start releasing some of that pent up demand and start buying.
The traffic in the greater Naples area has certainly picked up, witnessed by the fact that the normal heavily-traveled routes have seen increased congestion. As we get on toward the month of November, we should see even more traffic indicating “they’re back”. Funny…they may indeed be back, with more on the way, but they aren’t really buying. Oh sure they’re are certain pockets of interest with contracts being written, but mostly it’s very spotty.
In checking with people holding open houses, they voice the same concerns…where are the people? They all seem to reiterate the same theme, the people may be here, but they are showing no signs of real interest in looking.
Hopefully, we won’t be looking at another “season” that wasn’t. The buyers are probably just hanging around, (like the rest of us,) with their feet up reading their ‘buyer’s guides’, like us trying to get a handle on exactly what the heck is going on with this market!
V.K. [Mel] Melhado PA
Downing-Frye Realty, Inc.
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