Do Sellers and Buyers Have The Same Perspective?

[Richard Ferris]

I have found recently that many neighborhoods in the Central Florida housing market, show significant differences between what a seller's expectations are and what is reality from the buyer. One example of this, is in a community south of Clermont, FL known as Westchester.

There are presently 15 active listings in the Westchester community ranging in size from 1,176 sf to 2,200+ sf. Listing prices are from $109,900 to $249,000. In the last 12 months, the MLS reports 7 closed sales from $150,000 to $209,000 for homes of similar size range. There are currently many short sale and REO/Bank owned properties noted in the community. The adjacent community, Greater Groves, is additional competition in the market. This community has had 12 sales in the last 12 months from $110,000 to $250,000 for homes of similar size and age. Active listings in this community range from $117,900 to $279,000 with 22 active listings.

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