Buying Investment Real Estate Luxury Real Estate Market Summary

South Florida Real Estate Continues To Gain Steam

A quick snapshot of the overall market for 2012:

Single Family home sales increased 21% in 2012.  Those listed between $300,000 to under $1 million increased 50%.  Home sales for those over $1 million increased 64%.

Condo sales increased by 6%.  Condos between $300,000 to under $1 million increased 45% and those listed over $1 million increased 62%

With that amount of activity, low inventory and cash still flooding our market, many buyers are frustrated.  If you are one of them, there are several things you can do to have your offer considered on a new listing.

1) The most important item to have clear is the financial aspect of your purchase.  If you are a cash buyer, make sure you have proof of funds ready to accompany an offer.  If you are going for financing, have your pre-approval letter from your mortgage company with as few contingencies as possible.

2) Have your real estate agent put you on a system where you are being notified the instant a property that meets your criteria hits the market.

3) Make the time to go see the property the first day.  There are a lot of buyers who are making offers the first day because they have been familiarizing themselves with the market and know that if the property is priced right, it will sell.