I see some signs that we are near or at the bottom. With that said, we may be down here for 3 to 5 years. Remember the #1 rule when making profit in the real estate market,” it’s not where you sell it at to make a profit, but where you buy it at.”

There are some great deals right now. The Foreclosure and Short Sale market is giving the cash investors the opportunity to swoop in and snag some steals. I have seen Grand Dunes $1M plus homes going for $550k. Condo’s that were $229k on the Waterway going for $135k. I have heard a rumor that a couple small banks are lending or will be shortly. This is what it is going to take to Start to turn around the commercial market.

It may be a year or more before we see any new construction in the commercial arena, unless it is a recession proof National Franchise. One market that is exceptionally hot is the $100k to $160 New Construction 3 Bedroom 2 bath, Single family Home. What has happened is the Baby Boomers still want to come here to retire, but half their 401k is gone. So instead of buying that $300- $400k Home, they buying under $200K. This is one of the reasons my favorite say right now is “ The game has changed, and you got to change with the game!! “

Please call or contact me with your comments or questions I can answer for you. Just remember “ We are still the least expensive real estate on the Atlantic Blue between Maine and Florida”