Javier Gonzalez is a real estate agent based in Miami and any time he is asked how the housing business in South Florida is doing, he lets out a loud cackle. According to Gonzalez, who works with RE/MAX Advance Realty, it is a very convoluted question with no easy answer. To complicate issues, each market in the area has its own unique dynamics and it is not always easy to use the same gauge for all.
The Miami homes real estate market is one of the most enticing in the country. House hunters have a variety of options that they can select from. The profuse diversity ensures that buyers can make selections from two-story penthouses perched on the beaches to a dilapidated apartment that has been foreclosed. While the former can go for as high as tens of millions of dollars, the latter can exchange hands for less than $10,000. In addition, there are countless options on both edges of the spectrum.
For each area and region in South Florida, each neighborhood comes with its own range of prices and residence type, from condos to homes for single families. Some others are in the same category or neighborhood, and fall within the same price range. In some other places, there are many options to select from while in other areas, it can be quite hard to make a selection.
To know how serious this is, there are those buying homes for the first time had to search all of South Beach for up to one year before they were able to finally get the house they wanted. Therefore, it can be quite competitive, particularly for those who have no idea on how to do the running around in the area to seal the real estate deals.
For some others, they got the buildings that they wanted but they were rebuffed by the sellers. In some other instances, the homebuyers felt the property was simply too pricey and they could not afford to splurge such cash. These are some of the reasons why the real estate market in Florida is not easy to predict or explain at certain times.