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Sarasota Real Estate & Rates

March 19, 2008

On Tuesday, the Federal Reserve lowered the benchmark interest rate by three-quarters of a percentage point.  With the rate now at 2.25% and sales activity climbing, the Sarasota/Bradenton market is showing clear signs of improvement. Buyers in increasing numbers are taking advantage of the lower rates and good deals.  As always, I continue to scan inventories looking for goods deals for home buyers and investors and have been involved in three situations in the past two weeks were buyers have been written offers only to have another buyer make a highe offer.  One client put a low “take or leave it” offer of $440,000 on a $499,000 condominium on Siesta Key.  The seller countered at $495,000 and the buyer decided to let the offer “marinate”.  While it was marinating another buyer came in with a higher offer which was accepted.  Inventories are high but the good deals are selling.  An experienced agent can help you find those deals.

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