Is Pensacola market still a good buyer market?
Being experts in the industry, we are asked this question more often than not. And, the answer from our side is a simple Yes and No; it all depends what you are expecting from the market. Here are some factors that impact this question –
Type and location
Homes in certain areas are in demand quite heavily. On the other side there are areas where people generally are not interested in investing as well. In fact, homes in great locations have been flying off the shelves.
Good neighborhoods, access to transportation, good Schools, shopping facilities etc. these are some of the factors that contribute towards attracting the buyers. And properties with all these features sell like hot cakes.
Condos and townhouses
These are rebounding as the rental market increases, although the market was down for quite some time.
These are in demand. You would be amazed to know that there has been a massive amount of foreign cash flooding in to invest in US real estate, which has impacted the Miramar Beach market quite a lot.
Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.
Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.
So, it is worth mentioning here that the markets remain incredibly polarized. There is still a lot of action at the very top and the very bottom. However, there are quite a number of challenges lying in the middle.
But, don’t get confused. We are here to help.
US economy is going through a lot of turmoil, as the markets are moving quite fast. And, we are investing in Pensacola because we believe in the community and the people here.
If you are looking to sell a Property near Pensacola, we can help you. In fact, we buy properties from people who need to sell fast in the minimum possible time and at the best prices.