There are many reasons why people of all ages move to Florida. Warm weather, fantastic beaches, cultural diversity, and no state income tax are just a few attractions of the sunshine state. However, prices for residential properties can be steep, so it’s important to know the right time to buy in order to get a good deal. If you are not familiar with the real estate market, this is where a South Florida Realtor comes in handy, such as Karen Laurence. With 20 years of experience working in the real estate industry, she will provide expert assistance, whether you’re searching for a new home or trying to sell your current one.
If you are looking to buy, is now the right time?
We will look at a few factors to help you make your decision.
Shop During a Buyer’s Market
A buyer’s market occurs when there are several homes on the market but very little demand. In other words, more people want to sell than there are people who want to buy. In Florida’s buyer market, you will find a variety of homes that meet your needs and requirements, and most will be in your price range. Homes will be on the market for several months with no prospective buyer, which will leave homeowners desperate to get rid of their property – for practically any price. This creates the perfect opportunity to negotiate an even lower price. Even if negotiating isn’t your forte, don’t be afraid to do it. In this market, sellers are more likely to work with your price range because there is no guarantee that another offer will come along soon.
In addition to getting a good price, in a buyer’s market, you can take more time to find the house you absolutely want, since houses will be on the market for several months.
As you can see, this is the best time to buy a home. The market is in your favor, but you can still benefit from working with a professional. Karen Laurence’s 20 years of experience working in the real estate industry, as a consultant, has provided her with considerable expertise.
Are We in a Buyer’s Market?
Currently, Florida is in a seller’s market. This means that there are more buyers than properties on the market and the properties are selling fast – generally, less than six months. In fact, it isn’t uncommon for properties to sell within days. As a result, the market is in the seller’s favor, which leads to increased prices for residential properties. You may end up paying significantly more for a property than it’s worth and certainly more than you would like to spend. During this time, buyers often get desperate and make poor decisions, concerned that prices will increase the next month or the next.
Furthermore, it will be more difficult for buyers to find the home they are looking for, as there is a proliferation of buyers looking for the exact home that you want.
If you are looking to buy a home when the market is not in your favor, this is the best time to work with a real estate agent. Some people reading this may be on the fence about hiring a professional, as it’s an additional cost they don’t want to spend. However, it’s important to note that realtor’s services generally save you more money than if you were to buy a home on your own – especially in a challenging market. You will soon find that a good agent is worth their commission.
Why You Should Work with a South Florida Realtor Now
If you are currently looking for the home of your dreams, you already know it is a stressful and exhausting ordeal. A realtor can help by quickly finding homes that meet your specifications – whether it be budgetary, neighborhood preferences, nearby amenities, or anything else.
Then, when you have found the home of your dreams, your realtor can help negotiate a better price. Remember, a seller’s market is in the favor of the seller. As a result, you will need all the professional help you can get to avoid spending more than you should. An agent can help determine the true value of the property and advise you on the most you should spend. Depending on how the buyer responds, your agent should always negotiate for a better price. Keep in mind, with this type of market, even the best-negotiating skills may not yield positive results.
However, Karen Laurence will be with you every step of the way. To get started, contact us or call (516) 524-3953 today.