Will the End of Summer Slow Down Miami Real Estate?

by Isaac Benmergui, Esq on September 9, 2012

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. 

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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