Miami - Smart Sellers Sell While the Going is Hot!
Jul 26, 2013 July 26, 2013
MIAMI IS SETTING RECORDS!
July has been a month of many records. We recorded the highest temperatures since 2011, the highest amount of rainfall ever recorded in July, a 7-year+ record high in sales volume and a 5-year+ record high in property prices! So if you want to be where the actions is, look no further than Miami.
I HATE TO REPEAT MYSELF, BUT . . .
We believe Miami has turned the corner from a wanna-be international city to the real thing. Arts, culture and entertainment are popping up all around us more than ever before. So if you are looking to buy or hold for the very long-run I believe you have a good future. BUT IF YOU HAVE BEEN THINKING OF SELLING, PLEASE READ ON:
As you have seen, there are lots of headlines of a hot market. We are officially – without a doubt – in a strong seller’s market. That means that the market is currently on your side as the homeowner.
Usually, though, headlines come after things happen already. My job is to try to notice small signs that I can use to allow my clients to take advantage of opportunities before the next big headlines come out.
Lately, I have noticed a few signs that point towards now being the right time to sell, before this sellers’ market ends:
Investors both big and small are slowing down, leaving more regular buyers on the market and changing the market dynamic. This means fewer buyers overall and less cash buyers available.
Interest rates have already risen considerably and loans are still not easy to get, which limits regular buyers’ ability to buy.
I see inventory slowly rising back up here in Miami, and that will eventually mean lots more sellers and way more competition for you. More competition usually leads to flat or lower prices.
So if you have been thinking about selling now is the right time. I don’t want you to miss a big opportunity to get the most money for yourself.
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