So this video is a few months old but it still holds true because land is a very limited commodity in South Florida. Interesting to see how little has changed.
Wanted to do a quick video before my workout.
In today’s Maji’s Market minute, we’re going to talk about timing the market or lack thereof. It’s really not possible to time the market. I’ve tried and it’s not possible.
Buyers are probably thinking the market is going to crash and prices are going to come down. I don’t think that’s really going to happen, definitely not like what we saw in 2009. I think Miami was just on sale, (basically discounted pricing or bargain basement pricing) for so many years and we just took it for granted and the rest of the world finally woke up. Actually, the international market always knew, but I think that our domestic market, especially the Northeast and California discovered Miami during Covid as a place to live year-round, and that changed everything.
So what’s going to happen? These people are buying primary residences, not investment. The lending guidelines are very strict, so it’s not like they’re giving away money like what happened in the last crash in 2009. Prices are holding steady and may go up, supply and demand. It’s as simple as that.
So what’s going to happen to a buyer that thinks they’re going to wait in time to market? They’re probably going to miss out and that’s reality. I think that if you found the right property that fits your needs and you want to buy that property, buy it now. Even though interest rates have gone up. Btw interest rates are not that high historically speaking. They went up quickly, but we knew this was going to happen. It’s not a surprise.
So that’s my Maji’s Market Minute for today.
DON’T WAIT TO BUY.
If you find the right place, just buy it.
Like “Majic”, I’ll get it closed.
Maji Ramos Real Estate Advisor, P.A
305-519-7940 | email@example.com
• Miami Realtor since 1993
• 2nd Generation Realtor
• Negotiation Specialist
• Market Trends Specialist
• Miami native