The anticipated 4th quarter of what has been an illustrious year is now underway without any signs of stopping. For many across America, especially our neighbors further north, the cold, but familiar winds of winter have begun: The smell of fresh snow and the sight of fallen leaves, the frozen rivers and lakes, and days where school may even be cancelled are coming soon.
That is, unless you live in Miami.
And that’s OK.
While the rest of the country transforms into the quintessential winter wonderland, here in Miami, other plans begin to take shape with much greater resonance: Art Basel, New Year’s Eve, Snowbirds, and in my case, a very active Miami real estate winter selling season.
At first, my years would end with a combination of work and play: closing some sales but still managing to take some days off. A combination of gently closing the year off and riding off into the twilight, waiting to pick things up again in January.
Nevertheless,that all changed two years ago, on December 2016.
Since that year, the 4th quarter of real estate in Miami turns into mayhem, and each December gets better (and crazier) than the one before. In some instances, the deals are extremely complicated and almost feel impossible to accomplish. Funnily enough, in the end, everything works itself out.
What To Expect This Year
I humbly expect 2017 to be as active as last year and the year before…if not busier. It’s only October but most factors indicate that the vast array of cultural events that will take place over the next few months will put a firm spotlight on Miami, which should encourage investment.
Ultimately, preparation is the most important factor of the entire process. This time around, I prepared a post to help. Are you looking to be among those looking to buy or sell over the next few months? Then this post was meant for you! Please feel free to refer to my recommendations below to help ensure better results!
Tips For Buyers
1 – If You Need Financing, Get Pre Approved First*
*If you’re a cash buyer not looking for a mortgage, please jump ahead to step 2*.
I can’t stress how fundamental importance of this step. Getting yourself pre-appproved with a lender will accomplish one of the most difficult but most necessary steps towards buying a home in Miami.
Once pre approved, a buyer:
- Should have a clear picture on the financial aspect of his/her real estate transaction, including his/her closing costs, monthly payment, and budget.
- Will be able to place stronger offers by attaching his/her pre-approval letter with the offer paperwork.
- Can submit offers in a faster, more time-saving manner, which helps in multiple offer situations.
Again, this will make my task of finding you a home much easier because it gives me a blueprint to work with.
Please feel free to contact me for a list of preferred lenders I’ve worked with in the past located in the Miami area.
2 – Know What You’re Looking, Where You’re Looking, And When You Need It
If you ever have the chance to speak to me over the phone, you will realize that some of my key questions to understand your real estate needs include:
- What is your timeframe?
- Which areas are you particularly interested in?
- Could you tell more about the property you see yourself living in?
These are just a few of many questions designed for me to help you. In certain instances, I often ask even more questions, if possible, for one simple reason: The more I know the better I can help.
3 – Take Some Time To Get To Know The City If You’re Unfamiliar With Miami
Miami as a whole is extremely diverse, and knowing the entire area is a lifelong process. To add to the challenge, the city doesn’t stop evolving, which means that entire neighborhoods continue to change while writing this. Each neighborhood comes with its own distinctive flavor and while all are part of Miami itself, some of them are polar opposites of one another.
If you’re new to the area, feel free to put some time aside to learn more about the history and culture of each neighborhood, which in turn, will help you find your ideal place to live beyond the walls of a home.
Tips For Sellers
1 – Hire A Local Expert That Knows Your Area
If your unit is located in South Beach, would a realtor that specializes in Palm Beach county be able to effectively service your listing? This is only an example of some of what I’ve seen in my local market, where many listings often end up overpriced/underpriced due in part to the agent’s lack of local market knowledge.
Making sure your agent works and specializes in the area where your property is will enable your listing to have an advocate that truly understands the neighborhood feel as well as its surrounding community.
2 – Your Pricing Has To Be Precise
In order to ensure that the listing makes the right first impression, I prefer pricing the property as close to market value as possible in order to not waste any time during the Winter season.
With such a small window of opportunity, I identify adequate pricing as one of the most fundamental factors between the homes that sold and the ones that didn’t. Most sellers make the unfortunate mistake of overpricing the property at first, a strategy that often leads to home to not sell for an extended period of time. On my end, I try to avoid that mistake by doing as much research as possible on the market’s current condition before ever placing the home on the market.
3 – The Marketing Has To Be Outstanding
Once the price is right and the right talent comes on board comes the marketing, one of the most underrated yet important factors to selling. On the luxury market, where homes stand at over $1M, it’s practically a must.
With more and more buyers beginning their search online, the main focus has shifted into platforms that allow potential buyers to access information to homes of every price point from the comfort of their home. With this in mind, one of the most important tools I continue to utilize involves having the best quality photos available as well as high definition video tours of each and every listing. Putting a sign on the front yard doesn’t cut it anymore.
The marketing has to be more aggressive and more sophisticated compared to prior years.
For additional information on what I do to market my listings, please check out my marketing plan here.
We are dedicated to providing the best information about Miami Real Estate. Call us today at 305-305-3885 or send us a message here if you’re interested in buying or selling in the area. Our local knowledge of the market, combined with our experience will enable us to provide you with the best possible results.
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