Topics of interest to help homeowners when thinking about selling their home.
Wishing all moms have a great weekend lined up with your loved ones. And thank you. Thank you to all my clients that are moms which I have had the honor to service the sale or purchase of your house. A home is one of few places where great memories are created with family. And I thank you for allowing me to be part of such process.
Happy Mom’s Day!
It’s a seller’s market throughout Miami as prices get hot during the first quarter of 2015. Quite a turn around from the later half of 2014. Why the rebound? Foreclosures are no where to be seen and equity sellers (regular home owners like you and I) are gripping to their homes with vengeance reclaiming what they had lost in value since the real estate crisis.
This lack of inventory is giving buyers little to choose from and even lesser price negotiation leverage. Sellers are literally getting away with murder by asking what they want for their home, and getting it.
What’s the outlook? If you ask a seller, bright. If you’re asking a buyer, it sucks. The foreclosure market is expected to continue to dwindle. The economy is expected to continue to improve. And as long as home price appreciation meets or exceeds the cost for home owners to hold onto their properties, the expectation is that they’ll wait “a bit longer” to sell.
What was the average home worth in 2010 vs now is 2015? See below graph.
How long are single family homes staying in the market until they are sold? See below graph.
What type of sales are dominating your neighborhood? See below graph.
Pinecrest’s most expensive property for the month of February is located on 7755 SW 120 ST Pinecrest FL 33156 and it sold for just under $2.3MM dollars. Built in 2004, this home measures 5,773 square feet under AC and sits on a 37,853 square foot lot. Other specs include 5 bedrooms, 5 baths, 3 car garage, and a pool.
Listing courtesy of: Hazel Goldman, RE/MAX Advance Realty
Kendall’s most expensive property for the month of February is located on 12161 SW 95 Av Kendall Florida 33176 (Montgomery Grove Estates) and it sold for a $1,000,000 bucks. Built in 1980, this home measures 4,439 square feet under AC and sits on a 40,511 square foot lot. Other specs include 5 bedrooms, 3.5 baths, two car garage, and a pool.
Listing courtesy of: Monika Tefel, Coldwell Banker
Mario Avalos 