How to Buy a Home in Miami in a Tight Market

From too many homes on the market just a few years ago to home buyers having a problem finding a home that they really want, the housing market certainly has had its ups and downs and we're starting to get dizzy from the roller coaster ride. Demand is extremely high right now in just about every market across the country and home prices are starting to rise due to the increase in demand.

Investors tend to outbid owner occupied buyers and even with today’s low interest rates the urgency has never been greater to jump on the home of your dreams. If you wait, investors will swoop in especially on short sales and distressed homes that can make a quick profit from flipping.

So how do buyers jump on the ball ahead of investors and those ready to buy?

There are a few things you can do to prepare yourself:

Make sure you're preapproved for a home loan before even looking at homes. By knowing ahead of time that you can afford a particular price range and having a letter of preapproval in hand, sets you up for success.

Have your offer ready to fill out. As your Miami agent, I can prepare an offer ahead of time and simply fill in the remaining specifics on any one particular property when the time comes.

Write a letter to the seller specifically telling them why you want their home. Appeal to sellers by explaining your situation and why they should accept your offer over an investor.

Make sure you have minimal contingencies and addendum’s so that there’s not a lot of hoops to jump through for sellers.

Buying in Miami and Miami Beach is getting tough and there is still a lot of competition. If you’re a first-time home buyer or you’re looking to move up, give me a call anytime. I specialize in luxury homes and condos in Brickell, Miami, and Miami Beach. 

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