Miami Real Estate Is Hot, Hot, Hot

June 16th, 2009 Categories: Market Trends

I’ve not been writing a lot in the blog lately.  I’m swamped with work.  (no complaints here).  Not only is the exclusive listing at Graceland Estates keeping me super busy, I’ve got my buyers keeping me busy too.

The real estate market has definitely gotten hot around here. Everyone I speak to is just as busy as I selling Miami homes.  In fact, there are so many buyers out there that each time we prepare an offer on a property we are competing with other buyers and find ourselves in multiple offer scenarios.

This means we’re losing out on homes and having to keep looking.  It also means that homes are selling for more than asking price, when priced right to begin with.  I’m referring mostly to REO’s (bank-owned real estate).  Right now, foreclosures are what most buyers want. Although I’ve definitely seen a trend away from that in the homes we’re selling at Graceland.  Buyers are so fed up of presenting offer after offer, only to be told that another offer was accepted that the option of buying a well-priced new construction home is looking better and better each day.

Still wondering if it’s time to jump back in the market and buy that home? Don’t wait any longer.  Mortgage rates are trending back up, but still low.  Getting in now makes perfect sense.

This entry was posted on Tuesday, June 16th, 2009 at 7:58 am and is filed under Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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