Sarasota – one of the most undervalued U.S. CitiesAug 1st, 2009 | By Bea Weiss, Real Estate Consultant, Attorney | Category: Area Info, Buyer Advise, Sarasota
AOL is reporting that Sarasota, Florida is the 2nd most undervalued cities in the United States:
Sarasota is a relatively upscale community on Florida’s west coast. “It’s a nice boating community, and they have got a lot of beautiful homes there,” says Jack McCabe of Florida-based McCabe Research & Consulting. After home prices plunged 44 percent from the first quarter of 2006 to the first quarter this year, the market presents would-be buyers with some attractive opportunities. IHS Global Insight considers the median home price in Sarasota — $141,000 — to be 28 percent undervalued.
This is good news for buyers who are planning to buy a home in Sarasota.
We often hear from buyers that they are trying to time the bottom. But don´t wait too long. We are seeing that the better properties are again being sold within weeks or even days. Many investors are coming back to the Florida Real Estate market and buying well priced properties in good locations. There are still bargains out there – but remember that this buyer´s market won´t last forever!
If we can help you find a Sarasota home for sale give us a call at 941.866.1666 or use our Sarasota MLS search to find your next home.