The answer is yes. In fact, they’re dropping daily, just like they always have. Asking prices that is. Most sellers start out at a price just higher than buyers are willing to pay to test the market trying that higher asking price first, hoping to get lucky.
When no offers come they drop their price, timed by varying levels of patience and need.
Bottom line is that in any market, asking prices are lowered. It’s an ever changing process; a blend of prices dropping with properties selling and properties entering the market, all in varying stages of the sale process.
Buyers typically make their initial offer low for the same reason a seller starts out high, basing the offer amount on the current asking price.
11724 SW 108 Lane
Here’s a 3/2 villa with 1155 sq ft, 1-car garage and screened patio inVillas of Towngate South. It was just reduced from $190,000 to $175,000.
If you were a buyer shopping for a villa in this price range, is it a good deal or a great deal?
Villas of Towngate South
Knowing the value of the property and if the current asking price is high, low, or an outstanding deal is now more important than ever as Miami-Dade continues through the market cycle.
Competition is already increasing as the number of available homes for sale decreases.
It’s time to fine tune you’re buying strategy to get the deal you want.
Need some help with your strategy?
Call me. I’d be happy to assist. 786-205-4207