Miami Developers Hard Pressed to Find Available Land

by Isaac Benmergui, Esq on July 5, 2013

Foreclosure1Miami developers are having a tough time finding spacious land on which to build new Miami homes. Driving around town, up and down streets, looking for available space to build homes, that’s what some surveyors are doing, and logging thousands of miles just looking for space to put up a new home. As many homebuyers would rather buy a newly constructed home, builders must have land and lot to put one up.

As the spring real estate market heats up in the tri-county area, there is a worsening shortage of lots and buildable land. Builders end up bidding against one another, and the price of lots has risen sharply along with building material costs. Home prices are rising as a result of the builders’ costs rising. Instead of a risky investor mentality driving the market, actual costs of materials and land (which is a safer bet) are increasing and thrusting home value and prices higher.

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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