Opportunity!
If a great opportunity arises, will you be ready to jump on it? Whether you plan on buying or selling property in the near future, right now is a great time to educate yourself, plan, and possibly make a move.
Our current market situation is different than anything we have seen before. No matter how much we speculate, we will not know the future until it gets here. Instead of focusing on what we don't know and can't know (the future), we should focus on sharpening our knowledge on what we do know. Below is some market information based on data that we already have and know.
What We DO Know!
- Broward and Miami-Dade County home values increased over 14% since Spring 2020.
- Interest rates have gone up and down a few times this year but they remain low. Buyers continue to take advantage of the super low interest rates.
- Mortgage loan requirements have not changed much, still pretty easy to get a loan.
- Hot listings are receiving multiple offers and selling for top dollar.
- Inventory is low in most Broward and Dade County cities. Properties sitting on the market can become great deals.
- Relocation buyers from the North East are migrating in high numbers. Suburban areas such as Pembroke Pines, Miramar, Davie, Cooper City, Sunrise, and Weston, are HOT areas for these buyers.
- South Florida's economy is quickly growing. Businesses are moving to South Florida to take advantage of our business friendly tax laws and affordable properties.
The information above proves that both buying and selling right now comes with many pros and cons of their own. Even with all of the uncertainty that we are dealing with in the economy, South Florida's real estate market seems like it very well may continue to strive.
There is no "one size fits all" market! Whether or not right now is a good time to buy or sell really depends on your specific situation. Get in touch with me for a commitment free consultation and lets figure out a plan.
