Miami Open Houses Attract Throngs of Interested Buyers

by Isaac Benmergui, Esq on June 24, 2013

Bank frontSellers, real estate agents and even small businesses are seeing throngs of interested buyers flock to open houses in South Miami. At a recent open house, the line to view the home stretched out for two hours, as people walked through the house, bought cupcakes and drinks from a nearly snack wagon and decided whether or not the newly-listed home was worth the $435,000 price tag.

Within 48 hours there were five offers on the home. Since last fall, most real estate agents have been doing a brisk business with most properties selling within the first week. Agents recall the buying “frenzy” of the 2005 to 2006 period when the real estate market was going full throttle. The difference from then to now is that more buyers are using cash.

With so many interested buyers and the still relatively short supply of available homes, sellers are enjoying bidding wars for their properties and getting more than the listing price. From last year, prices are up nearly double and continue to rise quickly. Agents advise anyone searching for a home to have their financing already in place in order to have a chance at getting the home they want.

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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