I had a call Friday from a guy who wanted a foreclosure home that originally sold for $220 thousand and wanted to pay no more than $70 thousand. Maybe he has been watching to much foreclosure news on TV and felt his request was a reasonable one.. I decided to put some real numbers together for the prospective home buyers out there. Let me start by telling you 75 homes closed or went pending in five days last week. Most of the homes sold were bringing multiple offers over the asking price from buyers all wanting to get a good deal. As most of the inquiries I get are for 3 bedroom two bath homes I looked up the stats for 3/2 homes available in Hernando county as of today. Ready? 72-foreclosure homes with an average price of $107,620. 18- foreclosure 3/2 homes with a pool average price $121,297. 289- 3/2 homes on the market total with a pool. I get most people asking for a newer home so I put these facts together for you. 375 3/2 homes on the market built between 1995 and 2009 with an average price of $235,110, and 3/2 pool homes built between the same years number 119 with an average price of $287,793. Last but not least by any means is the foreclosed 3/2 built between 1995 and 2009. There are 26 left with an average price of $122,112, and the foreclosed 3/2 with a pool built between 1995 and 2009 numbers 2 with an average price of $124,900.
I hope I have not bored you with all the numbers but it is an eye opener to actually see in black and white what is really on the market here. I have said this before but buyers need to have reasonable expectations in their home search and be quick to decide if the home is right for them. There are hundreds of buyers looking for the right home in Hernando now with its low cost of living and quality of life. Don't be left out in your home search wishing you had purchased when you could.
Happy hunting,