THERE ARE TWO DISTINCT SIDES TO THE FENCE…
1) ON ONE SIDE ARE PEOPLE WHO SEE THIS AS THEIR OPPORTUNITY TO BUY REAL ESTATE: THOSE HOME BUYERS EITHER HAVE CASH AND ARE LOOKING TO INVEST IT IN REAL ESTATE (AS OPPOSED TO THE STOCK MARKET)…. OR THEY ARE LOOKING TO GET A MORTGAGE (BECAUSE THEY SEE REAL ESTATE AS HAVING A GOOD POTENTIAL FOR RETURN ON INVESTMENT… AFTER ALL, INTEREST RATES ARE AT AN ALL-TIME LOW).
2) ON THE OTHER SIDE OF THE FENCE ARE PEOPLE WHO HAVE DECIDED TO HUNKER DOWN AND WAIT … HOPING MAYBE HOME PRICES WILL DROP FURTHER… AND WAITING FOR MORE FORECLOSURE PROPERTIES TO HIT THE MARKET.
WHICH SIDE OF THE FENCE ARE YOU ON?
IT IS DEFINITELY A BUYER’S MARKET. INVENTORY HAS DROPPED, ESPECIALLY IN FLORIDA. HOMES ARE PRICED MORE COMPELLINGLY … AND THOSE THAT ARE PRICED COMPELLINGLY ENOUGH ARE SELLING . IN MIAMI, THE HOMES THAT ARE SELLING ARE DOING SO AT ABOUT 3-5% OF THEIR LIST PRICES.
THERE ARE A NUMBER OF OPPORTUNITIES TO BUY WELL IN MIAMI. WE WOULD BE HAPPY TO HELP YOU FIND THE RIGHT OPPORTUNITY FOR YOU… WHICHEVER TYPE OF PROPERTY YOU ARE CONSIDERING. IF YOU ARE NOT ALREADY WORKING WITH A REALTOR, PLEASE DON’T HESITATE TO CALL US OR SEND US A NOTE. THE RESTIVO TEAM.
