Buyers Waiting for List Prices to Drop?

They’ll Be Disappointed

WASHINGTON – Homebuyers sitting on the sidelines waiting for housing prices to backslide might be waiting longer than expected, according to experts. The strong demand for housing coupled with a supply shortage is spurring home-price growth rather than speculative buying. This is a good thing for people who are worried that home values are going to nosedive. An Urban Institute analysis of recent housing price index data from Black Knight concluded that today’s housing demand is primarily coming from people who plan to live in the home, not real estate investors.…READ MORE

Don’t Fall for These 6 Real Estate Scams

Getting involved in real estate can be both rewarding and lucrative. Whether you’re a novice home flipper, a licensed professional or fall somewhere in the middle, real estate done right can be financially life-changing. If you’re looking to rent a property or potentially buy a home, there are countless resources and websites at your disposal to narrow down your search. Just like any industry, there are certain deals you’ll probably want to avoid when deciding how to spend your time and money. Real estate scams can be financially devastating, but there are…READ MORE

The Miami Springs & VG markets continue to be strong.

Inventory remained stable.

This is good for buyers and seller.

45 active listings this week, with 4 new ones (1 Condo)

1 closed sale this week

7 listings under $400,000

17 active listings are priced over $500,000

3 properties are listed over $1,000,000 One of the Million+ properties is now a Pending Sale

18 active listings have had a price reduction (3 this week)

What does this mean? Usually, the property was overpriced from the beginning. The sellers are recognizing the market is changing. Prices are not increasing as fast as the last several years. Sellers should not miss potential buyers and deal with increased competition.

During the period of July 19, 2019, through July 26, 2019 there were reported 4 new listings (1 condo), 1 closed sale, 1 pending sales, 4 active with contract, 2 expired listings, 1 cancelled listing, 3 price reductions and 1 price increase. Interest rates remain very good. A GREAT TIME TO BUY OR SELL.

Attention Sellers!

Low Inventory + Low Interest rates + Increasing prices = Sellers Market.

The Market will change. Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, July 26, 2019. All closed sales are within the last 90 days.

HOW DOES YOUR HOUSE COMPARE?

*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.

A complete list of all the properties for sale in Miami Springs or any other area of Miami-Dade County can be sent to you on regular basis. Request it at: charlie@leonardrealestategroup.com

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