Bidding Wars Return for Miami Properties

by Isaac Benmergui, Esq on April 26, 2012

A clear indication of the resurgence in the Miami real estate market is the return of the bidding wars for properties. Once again, real estate agents are reporting that buyers are missing out on properties if they hesitate or don’t keep up with the bidding wars for desired properties.

Available Home Inventory Down Across South Florida

A six-year low of available homes is one contributing factor to the bidding wars, something not seen since just before the housing bust. The National Association of Realtors reports that the number of sale contracts for previously owned homes jumped 14 percent in February. With the continued low interest rate, and banks starting to loan again, that number is expected to climb.

If you’re looking to buy a home, let the law offices of Isaac Benmergui 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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