Today's 30 day real estate update is for River Watch, Tarpon Springs.  This is a waterfront community on the banks of the Anclote River in Tarpon Springs.  The community has a boat launch and dock for Gulf access.  The community also has a very well kept park and playground, making it a great neighborhood to relax in after a hard day at work.

Currently, there are 6 homes listed for sale, ranging in price from $189,900 to $399,000.  The days on market range from 2 to 234.  The average list price in River Watch is $264,650 and the average days on market is 89.

Of these six homes for sale,3 are distressed property, short sales. 

In the last 30 days, one new listing came on the market:  1175 Blackrush Dr., listed for $260,000.

In the last 30 days, two homes sold in River Watch, Tarpon Springs.

1998 Anclote Vista, River Watch, listed for $265,000 and sold for $255,000 with only 17 days on market.  This is a 2,537 square foot home, with a pool and 3 car garage. 

1128 Riveredge Dr., River Watch, listed for $300,000 and sold for $289,000 with 462 days on market.  This was a short sale.  The house had 2,926 square feet, a pool and a 3 car garage.

This neighborhood has several distressesd property listings, and three active short sales.  The values are somewhat depressed with the presence of distressed property in River Watch and correct pricing is essential in today's real estate market.  After 90 days or so with no offers or contracts, the real estate market is telling the seller that the asking price is too high.  Being the highest price in the neighborhood is also not always a benefit when trying to sell your home.  Houses that are priced correctly will get viewings and offers quickly.  Houses that are priced too high will simply sit on the market and become stale listings that will get little or no activity.

In today's real estate market, it is far better to price your home competitively, get offers you can consider or reject instead of pricing your home too high to leave "room to negotiate".  A too high list price, in this real estate market, will have the opposite effect and instead of buyers coming to negotiate, they will simply go find another home or equal or similar value that is priced more competitively.  It is important to consider that in the Pinellas County real estate market, for every 100 homes listed for sale, only 8.3% actually sold in November.  This most likely means that about 80-90% were priced too high for this market.

If you would like to get real time information on your neighborhood, simply visit Sun Bay Associates's Market Snapshot.  For real estate activity in the greater Tampa Bay area, visit Sun Bay Associates' FREE home search and create your unique real estate search to get an accurate picture of the current real estate activity in the area. 

If you are more interested in getting information about distressed property including short sales and foreclosures, visit Sun Bay Associates' distressed property site.

Happy House Hunting!!