Will the end of summer mean the end of Miami Real Estate

Posted by on Sep 11, 2012 in Blog | Comments Off on Will the end of summer mean the end of Miami Real Estate

The end of summer typically signals a slowdown in real estate markets, will Miami’s market, which has led the country in its skyrocketing real estate recovery finally level off?

In Miami, there are two real estate seasons, the traditional Spring to Summer and the later, Snowbird season from Fall to Spring. Basically in Miami, real estate is an always open and busy market. If you have been considering selling your home, but were waiting until prices were on the upswing, now is a good time to list your home. Inventory has been down, and homes have gotten snatched up quickly with bidding wars sometimes attracting more than 50 interested buyers in less than a week. If the market does slow down, you will be uniquely poised to have one of the few homes on the market available for bidding. It may take two weeks to sell your home, but at least you’ll have more time to secure a new home of your own.

For buyers, competition is stiff and you’ll need to be prepared to increase your bid, either a few times, or with one large upped bid to secure the home of your dreams. If you’re not paying with cash, you need to be pre-approved for a mortgage, and the higher the down payment, the more attractive your bid will be.