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Warning: Sales pressure ahead

Posted On: 10-24-2013

By Darrell Hofheinz Daily News Real Estate Writer

With demand way up and housing inventory sharply down, Palm Beach this season promises to be a town where the art of the deal may require even more artfulness than usual, according to island real estate professionals.So don’t be surprised if many of the properties that change hands over the next several months do so privately — without ever entering the two multiple listing services that serve the island.“I think the market is very strong, although we have such limited inventory right now,” said broker Linda Olsson of Linda R. Olsson Inc. Realtor. “But there are plenty of privately listed properties. Properties are moving so quickly, people are not even listing them anymore.

Frankly, they’re not even making it into MLS.”Buoyed by the economic recovery and pent-up demand, post-recession buyers have returned to the island in droves. Although brokers encountered a busy sales season last winter and spring, the warmer months proved just as active, said Palm Beach-based Bill Yahn, the Corcoran Group’s senior regional vice president for Florida operations.


To read more, click here: http://www.palmbeachdailynews.com/news/news/local/warning-sales-pressure-ahead/nbSWw/

Source: Darrell Hofheinz, October 24, 2013, Palm Beach Daily News

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