The Real Estate Tide is Changing in Miami, FL - Come join the Ride!!

By
Real Estate Agent with First Coast Sotheby’s International Realty

Wow, I feel like I have whiplash!  It seems that all of the people who WANTED to buy but were just waiting are entering the market!  I have written 2 offers today, have 2 more to go and a few in the wings.  The general consensus from the buyers is that we finally have some REALLY GOOD DEALS now!  Mostly short sales and foreclosures, the pricing is finally where they are ready to get off the fence.

Miami BuyersFor the most part, the current wave of buyers are:

1) investors

2) Buyers who could not enter the market at the height with the inflated values of 2003-2006, but who now have the opportunity to purchase

3) Buyers who have owned their own homes for a longer time and are using some of the equity to buy a rental(s)

4) Move-up and move-down buyers

With so much movement (no pun intended) in the market, we are seeing for the first time in a long time such occurrences as

1) Bidding wars!

2) Offers OVER List Price

3) Homes selling after 1, 2, 3 days on the market

If the trend continues like this, our excess inventory (4 years of homes vs. 6 months of homes) should finally start to shrink, helping us to stabilize.

Miami SoldI'm ready! Are you?  I'm up on my most current contracts, financing options, aligned myself with a few great mortgage professionals, know the ins and outs of submitting offers on REOs and more.  As Lenn Harley said, "Agents have the Mojo!"

Miami and Florida was one of the first areas to be hit by the slow down, so I am hoping that our turnaround will be a sign for better things to come for our area and the rest of the country.

Stabilized pricing is good for everyone, especially sellers, as it will help "stop the bleeding".

With the first buyer tax credit, stimulus incentives on lending, rock bottom prices, there is no better time to be looking for a new home!

Call Janie Today to get started 786-252-4970

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Anne Hensel 02/21/2009 01:41 PM
Topic:
Real Estate Market Trends
Location:
Florida Miami-Dade County
Groups:
All Things Florida
Short Sales and Forclosures ONLY
Miami, FL Real Estate
Short Sale REALTORS®
Miami-Dade Florida Foreclosure and Short Sale Info
Tags:
miami
for buyers
short sales
miami foreclosure
miami short sale

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Rainer
256,688
Debi Ernst
St. Charles County, Missouri - Prudential Alliance Realtors - O'Fallon, MO
GRI, e-PRO, Broker/Sales Associate

  Janie - I'm ready, too!  Things are picking up around here...That's a good sign!    :)

GRI, e-PRO

Feb 22, 2009 12:18 AM #1
Rainmaker
558,962
Maggie Dokic | Miami, FL | 305.81.HOUSE (46873)
eXp Realty LLC - Miami, FL
GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |

Janie, I am so busy I can't keep up.  Wanting/needing an assistant and just not at the point that I can afford one yet.  I have one past client who sent me two referrals last week and another 2 today.  I had a closing last Friday, another for this Friday and 3 more for next week.  And that doesn't include the 6 buyers I am working with, all wanting to find the right place so they can buy.  All pre-qualified.  All ready to buy.  Miami is on the rebound.

Feb 23, 2009 10:16 AM #2
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Rainmaker
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Janie Coffey

Uniting Extraordinary Homes w/ Extraordinary Lives
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