With the exception of a few small pockets such as Key Largo and Key West, property values are down anywhere between 2 to 30 % all across the state of Florida. Mortgage rates are doing the same thing. If either of these values stop going down and level out, that means the market has “bottomed out” and the market is due for a recovery.

What this means is that now is a good time to buy property in Florida because, while the prices and rates are low and you think that they might go even lower, the reality is that they might have bottomed out and will do nothing but go up in the future. If the rates and the prices are affordable to you right now, then now is the time to buy. You may very well be looking at a market that has bottomed out.

What will help the real estate market in Florida is a steady progression of people buying homes at very affordable prices and rates. This trend will then translate into a growing demand for houses which will in turn raise their prices relative to the rate in which they are being sold. This of course is how supply and demand works, and when you’re talking about the Florida real estate market, it is very important for the overall health of the economy that supply and demand work.

If you want to learn more about the real estate market in Florida, please give me a call.

By all reports the real estate industry is experiencing a major upheaval but smart buyers realize that in this unpredictable market there are great bargains to be found. Now more than ever the experience of a license real estate agent is imperative. The state of Florida and the Miami area in particular has seen an unprecedented number of homes go into foreclosure. These bank-owned properties are often priced significantly below comparable homes in the neighborhood but may have hidden defects or title deficits that a trained eye will readily recognize. Additionally, most lending institutions prefer to negotiate through a broker over dealing directly with a prospective purchaser.

In order to be licensed a real estate agent must receive instruction regarding the laws and regulations surrounding real estate and real estate contracts. While properties listed as for-sale-by-owner may be priced slightly lower than those listed with a realtor there may be hidden costs that could inflate the selling price significantly. For example, in order to complete the sale the buyer and seller must come to a meeting of the minds. As part of their selling commission a realtor will draw up a legal and binding contract while an attorney will change a significant fee for the same services. A realtor will also arrange the details of closing through a title company to ensure no liens are transferred along with the deed.

Sandy white beaches and breathtaking sunsets are part of the Miami lifestyle. With Miami real estate prices at an all time low the time to book an appointment with a Miami realtor is now.