We Have Moved...

The Real Estate Bubble is Sagging

In News on 02/21 at 7:40 am

The market has officially changed. For the past few years we’ve experienced the HUGE boom in real estate sales. The “Real Estate Bubble.” Well, I’m not going to say that the bubble has burst but you could say the bubble has started to sag.

Sales of homes in Miami-Dade county have dropped by 38 percent. Broward county sales have dropped by 35 percent. Thus, there are MANY homes left unsold on the market.

Here's a visual (click to enlarge):

Rising Inventories

What is the practical meaning of all this? There are more homes on the market. Sellers who were pricing their homes over market value now have to reduce their asking price in order to generate interest.

A year or two ago, you’d put up a “For Sale By Owner” sign, boom, within a few days calls would be coming in NONSTOP. With this changing market, advertising and marketing will be ESSENTIAL for the sale of a home at the best price possible.

A Realtor will be able to market the property effectively, prequalify buyers to save time and headaches, and assure the best price possible. For buyers, a Realtor will find homes before they are even marketed so that buyers have first pick. In these changing times, a professional Realtor on your side is becoming a necessity.

Do you have any questions or would like more information? Contact me, Michael Emilio Rodriguez, by email and at 305-235-2621 x182.

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