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The article below was posted on the Sun Sentinel website on July 21, 2013 and it is a great representation of what’s going on in the market in South Florida up to date. The market is definitely a seller’s market and the amount of bids a home is getting crazy. The home of course has to be priced to sell but even so I have found it to be true that people are actually paying 1’000’s over asking price and a vast majority of people are paying in cash or hard money. Moreover, I have found that the purchase of the home is not even contingent upon appraisal.
It’s awesome that when you price a home to sell there should be no problem with getting it sold. However, there is a catch to all of this when your a buyer who is working with FHA (First Home Buyer’s Program) or VA or any sort of financing that is not cash or hard money you know have to compete with the cash buyers and that can be a challenge.
Now I’m not saying that buyers who are using financing should just give up, NEVER, I would just encourage you to work with an agent who knows how to present your offer and yourself to the buyer in a manner that will put your offers above the rest. As well, the agent should be looking for your home outside of the MLS or listing service that the Realtors subscribe to. Moreover, the buyers need to be ready to Rock n’ Roll when they find the home they like and not hesitate to put an offer in. Of course, don’t just jump the gun but at least be ready to do business when business needs to be done.
As always, if I or my team can be of service to you or if you have any questions or comments, please feel free to call/text me Eduardo (Eddie) Acevedo of Superior Real Estate Team of Re/Max in Hollywood, Fl at (954) 610-9112 or email me at email@example.com.
Happy buying, selling or investing – there has never been a better time to do it.