Foreclosures comprise a major portion of the current pool of homes for sale in Miami… over half the current inventory (and a substantial chunk of what sold in Miami in 2009). 60% of what we are selling now are actually short sales and foreclosures. That’s a trend that is likely to continue. For the most part – if you are selling in this market – it is because you are relocating, downsizing, curbing expenditures, or are upside down.
That said, if you bought before the South Florida housing market sky-rocketed to the levels we reached in 2005-2008… you may be in a fairly decent position to sell. If you are wanting to sell, there are plenty of buyers out there. I am talking with and working with buyers every day who are wanting to buy, and the available inventory is rather limited. If you’re considering selling real estate in Miami (homes, condos, or vacant land), please feel free to call me at 305-793-1365 or send me a note here. It may – or may not – be the right time for you to sell. I am happy to give you whatever information you need in order to make that decision, and I may possibly already have a buyer for your property, if you decide that you are ready to sell.