Typically this time of year we not only focus on the year to year sales comparisons, but the year to date recap as well, however, adding in the variable of multiple hurricanes are skewing the numbers resulting in fewer showings, inventory that was damaged or lost this year versus last, and listing prices decreasing. While we would typically see more inventory coming on the market this time of year in anticipation for the upcoming season and the arrival of our winter visitors, we are also seeing a significant number of inquiries by investors looking for opportunistic buys. Unlike Hurricane Charley where Money and Forbes magazines had just voted our area as one of the best places to retire that created an unique competition between investors and buyers vying for limited inventory, there is plenty of inventory for buyers and investors of all types. The silver lining for some is if their homes have not been impacted by the recent storms, those homes will be viewed more favorably and the potential is for shorter times on the market if priced competitively. For others who did not fare as well, keep in mind there is a 50/50 rule that will impact your recovery plans. When in doubt call a reputable contractor to give you an estimate, and who can also determine if any of your damage was wind related or just caused by rising water. Before making any decisions check with your accountant and financial advisor as they will help you decide if rebuilding is a viable option or selling the property “AS IS” is your wisest financial choice.

I’ve often used the analogy of buying a car. You either get the discount off your trade-in or off the sticker price, but not both. Essentially you have two different paths to arrive at the same number and this is no different. Virtually all the sellers we know are looking to keep the terms as they have been, as a seller’s expense. The thought is it will increase the size of the number of agents who want to show their property. However, as we’ve shared with our sellers, should they decide they want the buyer to pay the commission, just like every other consideration the buyer is taking into account when making an offer on a property, that commission will now be factored in as well. The result could be an offer that is significantly lower than the commission percentage the buyer will now have to factor in. In short, while there is an extra step that may be involved for a buyer’s agent, we are seeing things pretty much remaining the same.