Is the smart money buying?
The chart above shows monthly pending and sold figures for homes and condos above $2,000,000 since December 2005. Notice the steady increase in the number of pending Sarasota luxury properties (red line). Is the smart money recognizing this as a good time to enter the market?
A contrarian seeks opportunities to profit from situations when the crowd mentality leads to unreasonable valuations for assets, either on the upside or the downside. Contrarian or not the sellers who sold in the beginning to the middle of 2005 when everyone was buying should be very happy as they got the high. In 2009 will we be saying, "I wish I had bought in 2007 when everyone else was selling"?
Labels: Luxury Sarasota real estate
posted by Marc Rasmussen at
8:55 PM
1 Comments:
This is a good time to buy. I am actively looking for a home to purchase. This may not be the absolute low but we are close to it. If I can find the right home with a realistic seller I will buy it.
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