Avoid Whiplash: As Featured in the South Florida Villager
We’re a few weeks into 2023 and I have observations regarding the South Florida real estate market. I’ve surmised that the market is just as diverse as our residents! On any given week, I feel the tides are changing…the pendulum is swinging. A slowdown is coming. The demand is picking up. These are assertions Realtors make in a 48-hour span! I have experienced the dizzying impacts myself.
I have, however, confirmed that location is still the holy grail. While some listings are posting modest reductions around South Florida and the multiple offers are not coming in for most homes for sale, some neighborhoods appear to be more resilient as compared to what one sees on the national news. Cities like Coral Gabes, Coconut Grove, South Miami, Palmetto Bay and a few more seem solid.
If you are considering selling, I can’t stress the importance of an experienced, active Realtor right now. The whiplash in the market is real but I find that being active in key cities provides a wealth of resources to our clients. We know the ins and outs and the current pitfalls. I’ll emphasize this: current. The market has indeed changed from a year ago, even six months ago. For this reason, I encourage you to interview Realtors and ask about their activity in the last three to six months. Here are a few key questions you should ask in an ever-changing environment:
- What has been your most complex sale recently?
- How did you resolve the issue?
- May I contact that client as a reference?
- Where are the majority of buyers coming from?
- How do you plan to reach them?
You want to align with professionals that are creative problem solvers and masterful in negotiations. I find that during a period when some think the market is upended, the requests and demands can tank a deal. Relying on the skills of an effective Realtor can be essential to having a positive outcome as we tend to be clear communicators and provide data to inform our rationale.
In the first month of the year, I can already tell it’s going to be a rollercoaster, but I predict there will be more highs than lows given our market’s ongoing desirability. Feel free to reach out if you want more tips on whiplash avoidance.