South Florida  - Company Message
RSS Follow Become a Fan

Delivered by FeedBurner

Recent Posts

Selling Your Home During Holiday Season
South Florida Welcomes Fall!
Have You Heard? It's Selling Season!
Mandatory Equity Membership: Points to Ponder
Life is Sweet on the Peaceful Shores of Highland Beach


Holiday Home Sales
New Year's Resolution
Real Estate Pulse for 2013
Real Estate South Florida 2014
Showing Tips
South Florida Interior Design Tips


November 2014
October 2014
May 2014
November 2013
October 2013
September 2013
August 2013
July 2013
May 2013
March 2013
January 2013
December 2012

powered by

My Blog

Buyers, Be Aware

Buyers, Be Aware
 Yes, it happened… throughout 2012 the signs became more and more prevalent, the “buyers-market party” was coming to an end, house lights came on and the music died.
Well, it’s official, the sellers have now hired their own DJ and hit the dance floor, prices are rising and inventory is exceptionally low. Economics 101: demand exceeds supply. 
As we are about to enter the second quarter of 2013, there is no denying that the South Florida real estate market is now in favor of the sellers. With home inventories down throughout South Florida by amounts as significant as 50% over last year, there is less inventory to choose from and sellers are taking full advantage of demand outweighing supply. It is not uncommon to see “cash only” on our MLS listings and not surprising to see homes sell above list price.
So what does this mean for buyers? It means, as buyers you’ll be paying closer to list price than you have for quite a few years on most of the accurately priced homes throughout South Florida. Buyers also face a high probability of having offers rejected if they muddy contracts with frivolous contingencies, unreasonable credit demands or attempting to have the seller pick up closing costs. 
This does not mean as a buyer, you are getting “ripped off.” It merely indicates home values are recovering and the likelihood of a low ball offer getting accepted is unlikely as the ball has now been lobbed into the sellers court. It also means, pre-approval letters or proof of funds accompanying any offer are part and parcel of having a fair shot at swift and successful acceptance of your contract.
As a buyer, I suggest if you like a home you see, ask your REALTOR® to prepare a realistic offer, immediately. In this market most accurately priced homes will move quickly and if you genuinely believe you found your next home sweet home, make a serious offer, as soon as possible. Otherwise, the home may be sold to another buyer if you fail to act fast.
Perhaps you are thinking … Typical REALTOR®, of course she is recommending to offer list price or close to it as soon as possible. However, my advice is not self-serving, it is merely what the market dictates. As REALTOR®, if I fail to apprise my clients of the market, I waste their time, my time and the selling agent‘s time, not to mention allowing clients to set themselves up for disappointment.
I enjoy the privilege of helping people find their new home, prepare a successful offer and ultimately shake hands with them after closing. However, I must be forthright and dissuade buyers from thinking there is a 2008 Time Machine we‘re going to jump eagerly into and buy a home far below list price. Like my buyers, I am excited to get to that joyful hand shake after closing and to do so, we have to start with realistic expectations and submit market-appropriate offers.
Buyers, be aware; It is a sellers market in South Florida.
Sellers you have a few things to be aware of, as well. Find out what they are in my next blog.   
Copyright 2013: Valerie Anne Martinetti

1 Comment to Buyers, Be Aware:

Comments RSS
rotary swiss watches on Tuesday, January 06, 2015 6:32 AM
Definitely, what a great site and instructive posts, I surely will bookmark your blog.All the Best!
Reply to comment

Add a Comment

Your Name:
Email Address: (Required)
Make your text bigger, bold, italic and more with HTML tags. We'll show you how.
Post Comment
Website Builder provided by  Vistaprint