Buyers Flock to South Florida…
For a number of reasons! The sunny beaches all year round, the diverse culture, the lower cost of living, the list can go on and on. In recent years, South Florida has had many buyer’s come in from the North. The numbers don’t lie when the sales of high-end homes and condos in Miami-Dade & Broward county have spiked significantly. Total home sales keep increasing by at least 4% each year. Due to the COVID-19, the housing market across the country has seen a big change – with low inventory and buyers that are now ready to invest their money into Real Estate.
South Florida has always been the number one place for the snow birds to fly to, to get out of the cold. The pandemic has given these buyers an excuse to take a peek at what life is like down in sunny Florida. Also, now more than ever, these uncertain times have buyers thinking why would they return to such densely populated areas when they could invest in an area that will give them a high rate of return. Florida will always be a place people come to visit, and when they do they usually want to go and see what is available in the market at that time. This year we will see a huge influx of the wealthy investors who are going to vacation in South Florida rather than Europe! As the current state of the environment still stays uncertain, the prospects for making strong returns on investment are promising.
Since traveling has been put on a pause, now more than ever, buyers are utilizing the internet to make their purchases. Knowing this, we have upped our online presence with more interactive options including virtual 3-D tours, FaceTime showings, etc. We have put many homes under contract as “sight unseen!” With the technology we have today, buyer’s are feeling more comfortable to go under contract without even seeing the home.
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