That is a great question and one I hear often. There is a great deal of real estate activity in South Florida. Home sales are on the rise and commercial sales, though slower, are still active. Whether it’s residential or commercial real estate, it seems that every one as a different perspective. We’re getting busier.
While we are very active, the activity seems to be happening in geographic pockets. Residential areas which were better off still have sales, but prices have come down to reasonable levels. Commercial properties which were offered at very low CAP rates are not either sitting still at the same CAP rate or are seeing price reductions in accordance with actual income.
No matter what the economy, domestic or international, South Florida remains a hub of activity – Sun and fun! Florida in general is a very Desirable place to be, still alive and still growing.
Whether you’re looking for residential or commercial real estate, who you work with is essential, so make sure you choose a broker or agent you’re comfortable with. If you’re in the market for “deals” in residential real estate, Miami Beach is overloaded with condos. Great areas right now are Sunny Isles Beach down to South Beach. In the middle is Surfside. It’s a unique area, sort of a mix of high-end Bal Harbour and “regular” Miami Beach.
If you’re looking for house, or just not into the beach area? Opportunities exist in Western portions of Dade and Broward, Doral and Weston areas especially. The trade off may be drive time and proximity to beach versus land (and lots of it).
If you read the news, the market is difficult, foreclosures here, there and everywhere. If you want to buy, BUY. If a Seller truly wants to sell, prices will adjust.
How does a broker fit into all of this? Relationships and exposure to the market, that’s how. Every broker(age) will say they are the best and that they know it all. What’s most important is experience and focus on the client’s interest (not their broker or agent’s own bank account). Pay attention to how the broker or agent pays attention to you. Are they answering your questions to your satisfaction about listing? Showing you properties you like?
Contact us. We won’t just make you comfortable; we’ll let you in on what’s happening in South Florida.
