I noticed, last week, when I was showing apartments at the Continuum and the Murano, that life on South Beach was going on as usual. It was filled with people at the beach, fantastic luxury cars and crowds in the restaurants. It was as though there was no recession and I was right but only to a point!
Today the New York Times confirmed my suspicions, condos are the ocean side of Miami Beach are selling . The great locations in the best buildings are still in demand. BUT the properties South of fifth are selling when the prices are reduced and it looks like a good deal. In fact, when it is a good deal, the seller gets multiple bids.
Here in Aventura, properties that continue to ask the prices of a few years ago, are sitting on the market. Properties in the one million plus category are not moving. Price is everything now and people are looking for buying opportunities. There isn’t much faith in the future. Attitudes have changed. Only when we see reality come into the market, will we see sales increase.
Is your home priced right? Are you having difficulty selling your home? Let me hear from you.