Taking advantage of a changing market

Real estate is a local issue.
Since the real estate climate in the Keys varies from subdivision to Island, it is important for you to know and understand how all the pricing fluctuations work here.
In addition, conditions can also change quickly, so you need the most up-to-date information available to make a well-informed decision. If you’re thinking of buying or selling a home, contact me for an overview of current market conditions. I can determine the value of your existing home or help you estimate the cost of a home in an area you may be considering.

Over the past five years, the United States real estate market has experienced record sales and price appreciation. The real estate boom has been especially strong in the South East, with home values doubling and even tripling in some cities. 

Real estate is cyclical. In some areas, particularly those that have seen annual appreciation rates of 20 percent and more a year, the real estate market is cycling back to more normal conditions. The normalizing of home prices is a natural part of the real estate cycle. It’s also healthy for the market, serving to rebalance supply and demand, and to bring prices more in line with what consumers can afford. 

Remember that housing markets are all local. At the height of the real estate boom, some areas of the country experienced annual appreciation rates in just the low single digits. And even in regions that are seeing home prices moderate today, there are properties in highly desirable neighborhoods that continue to receive multiple offers. 

What’s important is how to make the best possible real estate deal in your market. That’s where I can help. Whether you’re looking to buy or sell a home, here are some strategies that will help make your real estate transaction more successful. 

Tips for buyers
Now is a great time to buy a home. Interest rates are low, and buyers have more properties to choose from, so there’s room for negotiation. If you play it smart, it’s the perfect time to buy that house you’ve had your eye on. Here are a few strategies for getting the most for your money. 

Know the local market 
With the housing market in transition and prices fluctuating, it is important to understand what’s going on locally. Prices in some neighborhoods are being reduced; others are as hot as ever. I can do a market analysis of the communities you’re interested in and provide you with information on homes that meet your criteria. I will also look at comparable residences to determine the appropriate offer to make to the seller. In a changing market, it’s important that the data you look at is current. Properties that sold six months ago may not represent the value of a comparable home on the market today.

Identify what you want 
The good news about a moderating market is that there are more homes to choose from. Buyers have the luxury of being specific about what they’re looking for. Now is the time to strongly consider that Keys getaway.. 

Be ready to buy 
While more homes are on the market than a year ago, attractively priced homes are still selling quickly. Make sure you’re pre-approved for a mortgage and have a home inspector lined up. If you find a home you just love, don’t wait too long for the seller to reduce his price. It’s better to get a fairly priced deal than miss out on the home of your dreams. 

One of the strongest benefits I offer buyers is my ability to negotiate on your behalf. Depending on the local market, we may be able to get price reductions and other concessions from the seller. I’ll work with you to identify areas in which we can negotiate so you get the greatest real estate value for your dollar.

For more info go to
Using a home as a rental
Investments
Why you should consider Investing in the Upper Keys

For more information please contact me…I look forward to helping you find the right situation.