House Talk with Silvia Dukes

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Spring 2016 Real Estate Market is Heating up in Spring Hill Florida

Spring 2016 Real Estate Market is Heating up in Spring Hill, Florida

 

It's been a very active Spring real estate market for homes in the Spring Hill, Florida area thus far. 

Spring Hill Home Under Contract Photo by Silvia DukesLow inventory of homes for sale and properties going under contract in just a few days after coming on the market put many buyers in a scramble to find a home and make their offers before someone else.  Even then, they find themselves in competing offer situations.

Currently, three bedroom, two bath homes around the $100,000 price point or below receive multiple offers and easily go under contract in the first two or three days. 

Homes in higher price ranges may have a little more staying power but even they go under contract within the first week on market. 

Spring Hill Home under Contract Photo by Silvia DukesAt the beginning of April, there were still 1019 homes for sale in Hernando County, Florida including Spring Hill.  Current inventory of homes for sale has now fallen to well below the 1000 mark for the first time in many years.  

There are currently 637 homes under contract either pending or waiting to resolve contingencies.  

With such demand, the market is moving into a sellers market and sellers are finding themselves in  good negotiating positions.  

 

What are buyers to do in such a strong, competitive market?

Read some tips about Do's and Don'ts in Multiple Offer Situations in a previous post.

The phrase "time is of the essence" applies today more and more. Buyers need to be ready, able, and willing to view homes as soon as they come on the market and make their offer right away.  

Spring Hill Home under Contract River Country by Realtor Silvia DukesWhile cash offers are always welcome, buyers who can provide a strong preapproval letter with their financials already having been reviewed and approved by a lender will also be in a good position to compete. 

Finally, buyers should also consider to expand their search criteria. If you are looking for the home that fulfills all things on your wish list, you may miss out on the one that may need just a few minor changes or improvements to make it yours.  This is especially true when cosmetic differences rather than major improvements are involved. 

For example, a home that has an updated roof and air conditioning system but features carpet on the interior rather than the desired hard flooring such as wood, tile or laminate may still be more advantageous from a cost standpoint for desired improvements than the one that has the desired interior features but will need a new roof or other major and pricey components.

 

Are you Looking to Buy or Sell a Home in Spring Hill, Florida?

I have been serving the real estate needs of buyers and sellers in Spring Hill and surrounding areas for over 11 years.  

Please call me at 352-584-7441 or email me for more information about homes for sale in Spring Hill, Florida or a complimentary consultation about how to market your Spring Hill home for sale!  

 

 

 

 

   

 

 For more information about Hernando County Homes and Land for sale including Spring Hill and the communities of Timber Pines, Glen Lakes Golf and Country Club, Silverthorn, and Hernando Beach , please call or visit my website!

Let me help you find Your Place in the Sun!

 

Silvia Dukes PA, Broker Associate

Tropic Shores Realty, 3441 Deltona Blvd, Spring Hill, FL 34606

Phone: 352-584-7441    Email: SilviaDFL@yahoo.com   Website:  www.SilviaDukes.com

 

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Listing and real estate market information is current as of the date it was posted but subject to changes.

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Comments

Silvia our market has picked up, but we are not seeing the activity you guys are getting.  Hope we continue to move in the market direction you have.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 4 years ago

George Souto it's a two-sided sword, you have to be careful what to wish for!  

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) almost 4 years ago

Glad the hear that your market is improving, definitely stronger than what we are experiencing in Connecticut. Hope the trend continues.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) almost 4 years ago

Joe Petrowsky right now we need inventory otherwise buyers will have to wait longer to find what they want. 

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) almost 4 years ago

Many Maryland retirees are moving to Florida for lower home prices and  much lower real estate taxes.

Posted by Roy Kelley (Realty Group Referrals) almost 4 years ago

Roy Kelley That is definitely true! 

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) almost 4 years ago

thanks for your very informative market report - I really enjoy seeing what is going on around the country! 

Posted by Lise Howe, Assoc. Broker in DC, MD, VA and attorney in DC (Keller Williams Capital Properties) almost 4 years ago

Hi Silvia well presented Spring Hill Florida market report. You have so much great value in the homes and prices.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) almost 4 years ago

WOW Silvia, you really do have a hot market right now, keep up the good work.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) almost 4 years ago

Hi Silvia,

Your positive energy flows through each an every line! I love your enthusiasm and positive energy too! May you continue to prosper and grow your business to even greater heights!

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) almost 4 years ago

Hi Silvia - You certain have had a great turnaround in your market.  Looks like inventory is moving fast.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) almost 4 years ago

Silvia Dukes PA, REALTOR, CRS, CIPS, SRES Nice, easy-to-read market report!  We have much the same market but at a higher price point.  Inventory is so low, I have buyers waiting for homes to come up but nothing for them now. 

Posted by Elyse Berman, PA, Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR (Best Connections Realty, Inc.) almost 4 years ago

Lise Howe thank you, I also like to see what's going on in other parts of the country, it helps me understand those buyers who are moving here better.

Noah Seidenberg thanks, yes even with an upswing in prices, we are still veryy affordable compared to other parts of the country.

 

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) almost 4 years ago

Sybil Campbell thank you!

Patricia Feager thank you,  staying positive is important to make it in this business.

Grant Schneider yes, it sure is. 

 

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) almost 4 years ago

Elyse Berman a market like this can get really frustrating for buyers and agents when offer after offer is unsuccessful of if the homes are not there to begin with.

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) almost 4 years ago

Oh Silvia, what a hot market you have and I haven't seen a market like that is 25 years. It takes staying on your toes and being aware of all strategies.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) almost 4 years ago

Silvia

The spring real estate market in Spring Hill Florida is very active . . . .

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 4 years ago

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