The real estate market in Florida is one of the most active real estate markets in the U.S. Because of this, there has been a non-stop boom for home sales, and many wonder, do I need a realtor to sell my house?
In this article we are going to talk in detail about the current situation with Florida’s real estate market, and by the end of the entry, you will know if you need a realtor or not.
Non-stop boom for home sales in South Florida hide
Florida’s current popularity
If you’ve seen how the temperature gradient map of the U.S is right now, then you know why people are choosing Florida to buy or sell houses.
With partial lock downs as well as restrictions on entertainment, gatherings and sport practice, any place that gives the opportunity to do anything outside without having to wear more than two layers of clothing, is worth paying for.
For instance, the average daily high in Miami escalated around 75 degrees, with clear skies above. Additionally, the open economy, lesser masking requirements, low Covid-19 case counts, somewhat stable politics and no state income tax, make South Florida the perfect real estate market.
However, this didn’t happen all of the sudden. Florida realtors had to learn to improve their tactics to attract potential clients, because they know what it’s like to work under pressure in order to get results.
This time, South Florida’s real estate recovery presents all the signs of a stable resurgence that’s here to stay for a while. Meanwhile, other metropolises such as San Francisco and Manhattan continue struggling with long-term-re-pricing.
You can find examples of this new super-charged market everywhere. Even more surprising, buyers are willing to pay anything just to get what they want. One clear example is the sale of “The Beach House” a 6000-sf-2 house located in Miami Beach’s South of Fifth, which has five bedrooms, six bathrooms, two terraces, a movie theater and a wine vault.
This house was sold for $15,060,000 all cash, and it was surprising to the rest of the agents offering properties nearby. The CEO of Luxury Homes Connect shared “Properties like The Beach House are going to continue selling as soon as they are offered”
“This residence is a two-story residence located in a boutique building and it’s the perfect single-family home. It’s the ultimate hybrid home, but as much as the single-family market is doing great, more and more people are coming from different cities, and they are used to living in condos, and their families don’t like the idea of living in a house that doesn’t have the same characteristics of a building”.
Furthermore, different celebrities have decided to give Florida a chance. A few properties have been purchased for more than $10 million, including a house with a bunker with 13 private police and marine guards.
As you can see, Florida’s real estate market has a lot to offer, including luxurious houses. Agents are going to take advantage of the situation to try to attract people from other cities, making Florida one of the most appealing real estate markets in the country.
The future of Florida’s real estate
First of all, Florida continues to be extremely in demand thanks to favorable tax policies, and therefore, attracts plenty of buyers from every high tax state. Besides, high-net-worth individuals still decide to purchase a property in South Florida, but they also decide to buy a house in Miami.
Fort Lauderdale and Palm Beach are the most popular places in Florida. The tax regulations are unlikely to be altered, and once migration slows down, local buyers are going to have more options to look for.
Furthermore, Miami is beginning to establish itself as the new Silicon Valley. According to Crunchbase, South Florida will become more than just the real estate market people want to invest in, and it will also become the place where different companies will want to relocate.
As companies want to accelerate their expansion, this will benefit the market, meaning new job opportunities are going to be created. Also, cities like Palm Beach and Miami are becoming the new playgrounds for financial institutions, more and more people will likely choose to purchase properties there.
2022 is expected to be a good year for Florida. Realtor.com anticipates mortgage rates are going to rise 3.6% which is a win if we compare it to the 2.65% in the first weeks of the beginning of the year.
This is going to limit the budget of some of the buyers who are looking to sell a house, but this won’t have a huge impact on the market, where many deals are paid for in cash.
To get a closer look at what’s expected for 2022 when it comes to Florida’s real estate market, we suggest you take a look at the following information by clicking here.
In addition, due to the reopening of the borders back in November 2021, a new surge of buyers from countries such as Canada, Germany, the UK and France are going to focus on Florida.
Still, it’s important to recognize that not every market is going to increase in the same way. Florida’s real estate market can change suddenly, and what you need to ask yourself is, do I need a realtor to sell my house?
What can a realtor help me with?
As the Non-stop boom for home sales in South Florida continues, you need to start considering the possibility of hiring a realtor to help you sell your property. Keep in mind that the process of selling a house is complicated.
Discover what’s your property really worth
You have to use negotiation skills and marketing strategies to get the attention of potential buyers, and if you don’t have the time or the skills, it’s better to get professional help.
By trusting a realtor, you will get benefits such as:
Marketing
A good agent will use knowledge as a lever to be able to set an appropriate price for your property. Also, the proper realtor will use today’s technology to post the most appealing pictures and even design virtual tours for the clients.
If they like what they see, then the realtor did the right job, and a lot of clients will want to visit the house.
Monitoring and closing deals
Questions will definitely be between the initial and the closing sales agreement. Selling a house demands dealing with paperwork, which can be overwhelming for most sellers.
Your realtor is the perfect person to help you deal with these issues, and to get the transaction to a successful closure.
Expert assistance
Generally speaking, transactions exceed $100,000, so let’s say you have a $100,000 income tax issue, wouldn’t you want to solve the problem without needing a CPA?
Hiring a realtor will be the safest choice in these scenarios, because they will assist you in everything you need, including the doubts you have about the money.
Security
Whenever a property is marketed with a realtor’s assistance, they will prescreen and accompany the most qualified prospects to take a closer look at the property you are trying to sell.
Getting the price right
The selling process begins with the determination of an appropriate selling price. Your realtor will keep you updated on what is happening in the local marketplace, as well as other aspects of the process such as financing, terms and competing houses.
All of these factors are key when marketing your home and then selling it for the correct price. Sometimes, your realtor can recommend you spend extra money on repairs to increase the salability of the house, so that you can earn extra dollars.
Why take advantage of the boom for home sales in Florida?
Despite having to go through a rough year, the demand for overseas properties continues to remain strong. Agents are witnessing a lot of offers for new listings from both local and foreign buyers.
Florida continues to be a highly popular U.S destination, especially for international buyers, with at least five properties being purchased back to back.
Luckily, international travel is now available for people who want to buy, maintain or sell second properties. In fact, Florida has become more accessible than ever, thanks to a new route that Aer Lingus from Manchester opened to travel to Orlando.
With the chance of traveling to Florida, it’s a lot easier for international buyers to find the property they would like to purchase, and given the current popularity of the real estate market here, it doesn’t surprise us that the majority of buyers are from different countries.
If you are looking to sell your house in Florida, you can use this article as a source of information so that the selling process is not that difficult. Also, we suggest you read the heading where we talk about needing a realtor to sell your house.
Realtors can be very helpful when trying to sell a property, and with the right assistance, offers are going to come your way, and there won’t be a need to wonder, do I need a realtor to sell my house?
