We have consistently reported that both the national and local inventory is drastically reduced, yet sellers are reluctant to put their homes on the market. One type of seller that is hesitant is a contingent buyer, or one who would sell their home if there were homes available to move into. This presents a veritable catch 22 as sellers are needed because the inventory is so tight, and there are buyers that consistently are on the market, especially in Miami Beach. There are so few homes available that once they hit the market, there are multiple offers, which often drive a bidding war, and result in a higher than list price sale.
While a contingent seller would likely worry that they literally would not find another place to move into, one would consider that the sale price of your home could afford renting for a time as opposed to buying right away. The rental market is tight as well, in Miami Beach, however, the advantages of selling at this time are second to none. Further, buying preconstruction could not be more affordable, given a high cash deposit. There are over 100 new developments in the works in Miami and the beaches and if you considered selling your home and downsizing to a condominium, you could stand to make a substantial profit. For more information on what is available, contact us today.
