Buyers, if you see a house you like, you need to move quickly in today's real estate market in south Florida.
LOW INVENTORY
Inventory in Boca Raton, Delray Beach, Boynton Beach Florida has dried up. There are even fewer homes for sale now. If you're in the market to buy a house now and see one you like, move quickly because good houses are going fast. Houses that show well and are priced right go fast. In the last several months, we have seen even less inventory than before.
WHERE HAS THE INVENTORY GONE
Low interest rates and lack of inventory, in my opinion, is fueling this market. While it is still a buyer's market, buyer's have fewer choices. Find yourself a good buyer's agent who will work with and for you, not for the seller. And that goes for new construction as well. Those nice people in the sales office work for the builder; they do not work for you. Don't go it alone. Caveat Emptor.
BE PREPARED
Be perpared to act quickly. If you are financing, get preapproved before going to look at homes. This is the first step. You will need this preapproval if you find a home you like. We submit all offers with preapprovals or proof of funds for cash. Sellers want to know you are qualified to buy their house. If we submit an offer without a preapproval or proof of funds in south Florida, they throw it back to us: Where is the money? Sellers don't want to take their homes off the market unless they know you are qualified.
I'LL WAIT AND RENT
This is a bad idea for two reasons. First, there is very little inventory in rentals. Second, renatal pirces have gone sky high. Does it really pay to spend $ 30,000 to rent a two-bedroom apartment when interest rates are so low? That's up to you, but it makes no sense to me. Your mortage will be far less than your rent would be and we don't know where the market will be next year. Suppose you have to wait two years? That's $ 60,000 thrown out on rent.
IN SUMMARY
With interest rates as low as they are, if you are considering buying a home or condo, townhouse, be prepared to move quickly. Have your buyer's agent lined up and get yourself preapproved. Then if you see a house you like, jump on it as houses are going quickly in today's real estate market.
If you have any questions about gated communities in Boca Raton, Delray Beach, Boynton Beach, FL or pet friendly communities in south Florida, contact me. I can be reached by cell/text at (561) 716-7824 or email at This email address is being protected from spambots. You need JavaScript enabled to view it..
Buyers, if you see a house you like, you need to move quickly in today's real estate market in south Florida.
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