For some time now, everyone (mostly the media) has been talking about the growing INVENTORY in the real estate industry. "INVENTORY is growing and sales are down"!!! In certain areas of the country, this is absolutely correct. In other areas, such as Miami Beach, the level of INVENTORY may be on the rise in certain condo markets. If all of this is true, then why can't I find a house for certain clients? The single family, luxury waterfront market is a bit different. That waterfront market has slowly been diminishing as buyers have been snapping up good deals. With the market changes recently, some smarter sellers have realized that it is time to wake up and smell the roses and come down in their prices a bit in order to make deals happen.
It is up to the Realtors to educate the sellers of our treasured listings and make them realize that we are no longer in the year 2005-2006. The days of double digit appreciation and speculation is OVER (for now). Changing the mind set of a seller is not an easy task. Listings may change hands several times before a seller realizes that maybe it is time to lower their price a bit in order to sell their prized and valuable possession. The Smart Sellers and Smart Realtors must evaluate the current stats and look to the near future and come to the correct pricing conclusion. Then and only then will a deal happen.
GOOD BUYS:
10155 Collins Avenue Bal Habour 101 Condo
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