I have to say I had pretty much stopped reading the paper because of all the negativity in it. I just try to skim it to make sure that I do not miss something really important that is happening or if the world had ended and somebody forgot to tell me or something! You cannot imagine my surprise when the St. Petersburg Times, Tampa Bay Section Headline yesterday May 28, 2009 shouted out "HOME SALES KEEP RISING"!!

It sure is nice to see James Thorner writing positively about the Real Estate Industry in the Pinellas, Hillsborough, Pasco County areas.

Transactions or sales of homes and condos have definitely been on the increase these last several months which is great news. And the data shows that pricing seems to be stabilizing. Now this is all great news but we need to be careful on how we react to this. This does not yet mean that as sellers we can go raising our prices and asking too much for our homes, because we know that means they will sit longer and longer. The competition is fierce out there!

It is an amazing time to buy! Interest rates are at an all time low, BUT they are not expected to stay that way forever. First time home buyers have until towards the end of the year to purchase to qualify for the $8000 tax credit. And a first time home buyer is someone who has not owned a home in the last 3 years so that gives people some added leeway. There are many, many short sale and foreclosure opportunities and we are projected to have more foreclosures released in the near future. These offer some great opportunities all around. But they do not always come quickly or easily usually so they are for the Buyer that does not have to move into something in a short time period.

On the flip side the other thing we are seeing now is stiff competition and a bit of a Sellers market for those homes that are priced well and are not bogged down in short sale or foreclosure proceedings. Some buyers have been stressed out waiting for short sale approvals etc and only want to look at normal sales. So if you sellers can price it right and make your home the Shining Star in your market place we have actually seen multiple offers and heavy competition in these deals. I have had recent buyers lose out on homes they really wanted to get into because they are going under contract faster than before. So keep in mind if you think it may be the right house for you time is of the essence.

This is a great time for move up buyers also to get an awesome deal on their dream house, or get that extra square footage for their expanding families. Just keep in mind, if you have to sell a little lower on one end of your deal you can still make it up in the savings on the purchase side as you are moving up!

Remember that during this crazy economic times and changing market place Professional Realtors like myself are constantly studying, learning and growing in ways to help our clients make the best decisions for themselves. Many people are still finding themselves upside down or short on their payments due to job cut backs and all sorts of things. Please remember we can help! So tell your friends and share this information with them. Stay tuned, there is more to come!