The Truth About Miami's Buyers Market

Miami real estate currently experiences a total "buyer" market. The famous online encyclopedia describes "Buyer's Market" as "the market relationship between the prospective seller and buyer of the product. The supply and demand model determines the price and quantity sold in the market".

Now that the foundation has been updated, let's evaluate the right opportunities in the Miami market.

At the end of the house, the current amazing deal is at "default". The default and most profitable type is when the buyer cannot follow through the previous commitment to close the ready-to-use unit. This often happens in new buildings. The big advantage for new buyers is that there is an excess of real estate in the market, so developers sell these real estates minus the 15% deposit from previous buyers who abandoned the prepayment from the 2004-2005 price. Is to do!

The next set of opportunities will be in the “Ownership Motivation” arena. These types of properties were priced before the market was revised, but remained available in the market mainly due to the resilience of owners to lower prices to today's standards. Many of these property owners have experienced financial difficulties, market panics or simply want to profit from the “buyer market” and replace it with larger, more expensive properties. In either case, the new “sales price” inventory looks like a great opportunity to get Miami's major real estate in a great location with a corrected price. Motivated sellers come with great buyer incentives, such as boats and cars included in the property, even with positive rental income that sometimes pays for expenses!

Should I buy or wait a bit longer?

Sometimes speculation leads to higher profit margins. But speculation is also a dangerous business. Many investors may have speculated at the same time about the right time to buy real estate in Miami. When the market turns around, buyer enthusiasm will boom again. There will be no buyer incentives, most defaults, “motivated owners”, “by owner” funding at prime rate, etc. Most importantly, real estate is about location, and now you can easily choose the right place and the best property. Of course, unless you are a professional and willing to wait a little longer and fight the wolf herd for your dream estate in Miami in the near future.