The market I serve is the luxury waterfront (homes and condos) along the coastline of south Florida from Palm Beach to South Beach.
Palm Beach offers one of the ultimate address for the very wealthy looking for their spot in the sun. Finding a well priced property is a real challenge in this market. Inventory is tight and prices are still high.
What we have seen happen overall in the past few years is a gradual shift from a buyer's market on paper to a seller's market in real life. Allow me to explain:
On paper and MLS search may yield dozens and even 100+ properties that match basic criteria like number of bedrooms, number of bathrooms, and price range. So far so good right ?
Not so fast. The trained eye of the pro going through the list quickly realizes that most of these properties are "dogs". No view, older units/homes needing extensive remodeling, no pets allowed (condos), rental restrictions (1 or 2 years waiting period for some condos), no rentals permitted (some condos)...
The end result is that multiple buyers are now looking and competing for a much smaller pool of attractive and properly priced properties. Don't be surprised if you find nothing or see multiple offer situations... This is the virtual seller's market we are dealing with.
The key is to be patient but jump at an opportunity when you see it.
Visit www.EliteWaterfront.com for current Waterfront homes and condos Sales and Listings.
Selling the Best Waterfront Homes and Condos from Palm Beach to South Beach
Ben Giordano, MBA, MILHM, CDPE, REOS, Realtor®
Waterfront Specialist with Realty Associates
Ocean, Intracoastal, and Canal Homes and Condos in the Following Coastal Cities:
Palm Beach, Manalapan, Delray Beach, Highland Beach, Boca Raton, Deerfield Beach, Lighthouse Point, Hillsboro Beach, Pompano Beach, Lauderdale by the Sea, Fort Lauderdale, Hollywood, Hallandale Beach, Golden Beach, Sunny Isles Beach, Bal Harbour, Surfside, Miami Beach, and South Beach.