Tuesday, October 28, 2008
A fun fall day in and out of the water in Cocoa Beach.
The word doo-doo still makes me smile years after I first heard my mother use it to describe something that was often referred to in much less attractive terms by others. The real estate machine and it's members are notorious for using similarly softened words and phrases to describe the real estate market when it's not pretty; "soft landing" "slowed market" and so on. The surprising increase in sales numbers in September and the accompanying fall in median prices is being veneered with a pleasant-sounding spin once again by the cheerleaders, but, I still suggest maintaining the same level of diligence and skepticism I have been preaching for the last few years. Are there deals out there? Absolutely, but, some buyers, perhaps buying into the "doo-doo" speak of their agents, are overpaying for properties. Run your comps, look at the competition and factor in some insurance to the downside when making your offers. We've had some outstanding deals so far this month but there have been a couple of stinkers mixed in. If your agent is preaching the positive aspects of this market (time to buy, bottom, etc.) or you suspect that she is more concerned with inking a deal than in her representation of your interests, take a breather. We agents only get paid when a deal closes and sometimes the lure of a commission check may be enough incentive for a hungry agent to describe a turd in less offensive terms if it means getting a sale. Crap by any other name ...
Click here for a list of all 16 closed sales in Cocoa Beach and Cape Canaveral since Oct. 1.
"It is better to know some of the questions than all of the answers."