FEBRUARY MARKET UPDATE FOR MIAMI AND MIAMI BEACH

By
Real Estate Agent with Berkshire Hathaway Homeservices Florida Realty

HATS TRULY HAPPENING IN THE MARKET

The Miami and Miami Beach Real Estate Market

With market news coming out ever day with many conflicting and confusing facts here are some of the facts I believe people are not paying attention to that need to be in the equation. First, yes there have been some sales of new construction resales, that have sold under what the sellers paid for them. Is that so bad though? Can we at least admit there are still buyer's out there looking for deals? Why is that not reported? Also, since 2011 there have been over 8000 units finished and closed and now there are another 13,000 under construction and I would bet almost all those buyers are closing on the units because developers have made them put upto 70% deposits during the construction. That is a lot of buyer's so its going to have a negative effect on resales which at the current pace there is 55 months worth of inventory to sell off. Sales in condos are down from 30-40% down from Dec. 2015-Dec 2016. Prices persqft are also dropping in the condo sector. Single family still remains stable with new record breaking sales happening almost daily however, the overall amount of sales activity has dropped off. 

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Some real estate agents are interested in serving as many clients as possible. I prefer to limit my client list and focus my best efforts on a select few. Whether it's marketing homes that don't show well, negotiating the best deal, or tracking down just the right house for a choosy client, I've proven that I'm able to not only meet but exceed expectations every time.

It's not easy to find an agent with my combination of skills, strengths and experience - which is why I hope you'll think of me whenever you (or someone you know) is considering buying or selling a home in the area. With more than 900 real estate transactions and over 24 years of real estate experience, I am ranked among the top Realtors® in South Florida. For the past 15 years, my team have been named Top Listing and Sales Team for the Miami and Miami Beach offices of Prudential Florida Realty and am recognized as being in the top 2% of all Realtors® worldwide in the Prudential Real Estate Network now Berkshire Hathaway HomeServices. If you would like to discuss the market, investing or your property please don't hesitate to call me to (786)443-9649 or email me to kennyraymond@gmail.com.

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