Miami Real Estate – Thinking of Selling, Now is the Time. Thinking of Buying? Now is the time.?!

How can it be both the right time to sell and the right time to buy?  Usually, if it is a seller’s market, prices are high and inventory is low.  If it is a buyer’s market, it is the other way around.  We currently have enough overall inventory of single family and condos in South Florida to make it a buyers market so, if you are a seller, you may think of holding off until the inventory decreases.  If you have the holding power, you are right.  If you need to sell, but were thinking of holding off for the Spring, read Steve Harney’s blog, Oswald Acted Alone and We Did Land on the Moon.

If you are a buyer and read the blog, you will be tempted to hold off, figuring prices will fall further and you could get a better deal.  The difference is that with a home buyer, unless you are purchasing with cash, the cost of the home is often more important than the price.  Another great Harney blog, 3 Questions You Must Answer Before Buying a Home, can help you determine if you would be better off waiting until the end of 2011 or purchasing now.

Remember, real estate is hyper-local and your specifications for a home or investment property, may be completely different from what is going on in a city, county, state or nationally.  Some areas experienced less price decreases, short sales, and foreclosures than others.

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Jennifer Wollmann

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