By now you should have heard that the real estate market in Southeast Florida (think the Greater Miami Real Estate and Fort Lauderdale Real Estate market areas) is starting to move. The banks are beginning to shed their inventory of residential properties to clear out their portfolios, and the buyers are finally able to get financing in one form or another.
I have seen a number of buyers picking up great deals on Miami real estate. For example, a 2 story home that only 2 years ago sold for $440k just sold for $260k (by the way, the investor who bought the property from the bank for $205k made a handsome profit).
And the opportunity does not just exist with bank owned (REO) properties or short sales. Sellers who have equity in their homes and have a desire or need to sell are getting creative. Think seller financing and purchase money mortgages. This all adds up to a great opportunity for a prospective buyer to get into a home they may not have been able to afford only a year or two ago.
If you are in the market to buy or sell a home, please consider All Southern Real Estate Services, LLC, for all of your real estate needs. You can browse properties available for purchase or rent on our website:
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