Over asking price??? The New Norm.

By
Real Estate Agent with Florida Exclusive Living Inc. - Fort Lauderdale Luxury Home Realtor 3246440

Is this really becoming the new norm again?  Homes hitting the market and multiple offers are flooding in for over asking price?  If you are living in South Florida, the housing market is still on fire.  Miami has slowed down as more and more people are moving to the north because Fort Lauderdale Homes for Sale are more affordable.  

Here are two cases of homes that went under contract quickly and for over asking price. 

Florida Exclusive Living represented the buyer in this transaction.  The home was listed for $850,000 and closed for $875,000.  This newer townhome has all of the amenities and clearly represents what so many buyers are looking for in the area. 

This next townhome was listed for $535,000.  Florida Exlcusive Living represented the seller in this transaction.  Weston Homes for Sale have always been desirable.  The area has A rated schools and offers a very suburban feel compared to others areas of Broward County. This stunning Golf Course home went under contract for $540,500, all cash no contingencies.  

The biggest trend that we are seeing in South Florida right now includes very clean contracts.  Inspections periods have been shortened, appraisal contingencies have been dropped, and closing dates are quick.  Sellers can demand these features as most properties, if desirable, will have multiple offers.

Fort Lauderdale and the surroundings markets are as strong as ever.  If you have been thinking about selling or buying in the future it is a great time to consult with a Realtor and see what your options are. 

Posted by

Brian Scharick

Florida Exclusive Living
Coldwell Banker Real Estate
901 E. Las Olas Blvd Suite 101
Fort Lauderdale, FL 33301
Cell: 954-644-9118
Fax: 888-397-2616
 
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Comments (3)

Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

I believe homes sold for over asked listed prices is mainly due to low inventory? Glad to see the market is still pretty hot in Fort Lauderdale.

Jan 24, 2016 03:17 AM
Winston Heverly
Coldwell Banker Access Realty - South Macon, GA
GRI, ABR, SFR, CDPE, CIAS, PA

A great read today with a wealth of information. Addressing the challenges in today's real estate we need info like this.

Jan 24, 2016 03:29 AM
Judith Sinnard
SMARTePLANS; Houston, Texas - Houston, TX
The SMARTePLAN Lady

Good question from Les & Sarah Oswald  ... is it low inventory or something else going on? Recently an increased scrutiny on all cash sales was announced by the Treasury Dept for Miami Dade county ... do you expect that will affect your business?

Jan 24, 2016 06:01 AM
Brian Scharick

Good point and questions.  I saw the same thing from the Treasury Department.  I would say that in 2015 about 70% of our sales were all cash.  So far this year 85% of our listings went under contract with cash offers.  Inventory is low on homes that are highly desireable.  Though many come on the market, they are in contract so fast.  We have such a large percentage of buyers that foreign which is where a majority of cash purchases come from. 


Luckily 95% of our business is Broward county, so I don't see this affecting our business at all.  

Jan 24, 2016 07:21 AM