The inventory of condos available for sale is currently down an average of 11% year over year in the top 100 U.S. metropolitan markets—and the conditions limiting home supply are not expected to change in 2017. The median age of inventory, or the time it takes a home to sell, is currently 68 days in the top 100 metros, which is 14%, or 11 days, faster than the national average.
South Florida is a market of its own, and there are several sub-markets in our area. For instance, the market along the ocean seems to attract more cash buyers, so things like appraisals and qualifying buyers are never an issue. Condos in areas where foreigners were buying have slowed to a snail's pace in the last couple of
Home sellers also come down with some bad cases of foot-in-mouth disease. They can put potential buyers on the defensive—and the transaction at risk—by saying the wrong thing. Of course there are details you have to disclose to buyers (potential natural hazards, termites, roof leaks), but you shouldn’t feel like you need to confess your entire history in the house to all buyers.
For example, Don’t ever tell prospective buyers, “We always wanted to fix/renovate that, but we…” That only alerts the buyers to more potential costs. They might not have even thought of making a change, so why plant the idea if they are looking at your home as their castle?
Another thing that you should never tell a buyer is
There are More Foreclosures coming to the South Florida market
Will court ruling bring more foreclosures to market?
Delinquent Florida homeowners could be getting long-delayed foreclosure notices after a court ruling cleared the way for lenders to revive cases that have stalled for years. The Florida Supreme Court ruled last month that lenders can refile foreclosure cases against owners still in default, even if the cases started more than five years ago, beyond the statute of limitations.
He stopped making payments in 2009, he said, and hoped to get a mortgage modification. Instead, his lender, BAC Home Loans Servicing, filed a foreclosure action that BAC later dismissed voluntarily, records show.
