The Marco Island real estate market is always brisk in the winter. It's the time of year where every day seems to be sunny and 80 degrees. This year, though, it's crazy. It's crazy in a lot of places. The Covid nightmare is nearly over, and buyers are coming out and making up for lost time. With inventory at extremely low levels, bidding wars are happening all over the place. It's become unusual actually to sign a contract without one. At Land & Sea, we are applying every strategy to avoid bidding wars, but sometimes they're inevitable.
How do you avoid a bidding war? In a word - speed. We're successfully getting contracts without a competing bidder stepping in by moving fast. Now, I'm not suggesting adopting a reckless mentality and throwing caution
Are we experiencing a real estate bubble? By all accounts, the Florida housing market saw some vigorous activity in 2020. Some parts of Florida saw sales volumes increase over 50% year-over-year. Prices have moved up steadily during the period too. Incredibly, the pace has only increased in the first two months of 2021. Tempered only by the low inventory, it appears that the strong surge in market activity won't slow down anytime soon. With all of the disruption caused by Covid-19, many have opined that a crash, or at least a correction must lie around the corner. But does it?
The Florida Housing Crash of 2006
Yes, it's been fifteen years already since the Florida housing market reversed course and entered a freefall that would take