Is Now the Right Time to Sell… to Buy…?
In America, surveys show that almost all aspire to own a home, especially those who are planning and raising families. Buying a home was determined to be more affordable than renting over the longer term. Sellers in those glory years, for the most part make a profit from their sale. This American Dream was working well until 2003: the year of our economic down turn. Prices of homes plummeted, interest rates skyrocketed and employment fell. Our housing market spiraled to a standstill and as a result would be sellers become landlords and would be purchasers become renters. The poor housing market caused both new construction and re-sales to slow to a trickle. As a result we now have a low inventory of homes to be sold. This is especially true in Miami.
With the pick up in the economy and low interests we now have a supply and demand situation in the Miami housing market. That low inventory of homes is now fueling the demand for housing resulting in an urgency to buy and to sell before interest rates go up. Homes are selling quickly and for higher selling prices. Competitive bidding is now on the rise with buyers offering good down payments, good credit and good income all facilitating the ability to get loan commitments .
The housing market is now a seller’s market and if you are ready to make a move this may be an ideal time.
If you are thinking of selling your home give us a call. We are happy to talk with you about how to most effectively market your home. Our “boutique- hands on ” style gives us time to step you carefully through this important milestone in your life. We look forward to working with you.