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17
Optimism on the Rise!
It's time for Optimism ...
We Real Estate professionals are seeing a sustained market recovery that appears to be the turning point this time.
Helping the recovery are the continued low interest rates, which is helping to turn some renters into homeowners. Rental prices have steadily gone up while the inventory has shrunk. Although the bank's lending standards remain high coupled with strict appraisals and even stricter income histories for borrowers, they do have money to lend and are actively promoting home mortgages. Banks have also been more aggressive at modifying loans and converting potential foreclosures into sales by approving more short sales.
Here on Anna Maria Island and Northwest Bradenton the market is being assisted by an almost 40% decrease in inventory. With this low supply of available properties we are seeing the market turn and pricing stabilize. In fact, we are experiencing an increase in multiple offer situations with properties sometimes selling above the list price. I tend to be the optimist of Selling Anna Maria and Carmen tends to be the realist, it's a nice balance but, right now Carmen is agreeing the glass just may be half full. 
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