The July Real Estate Report

It’s the middle of the summer here in Miami Beach, Florida, and all is well, except for real estate, that is. The market is slow. It’s not that people don’t have money, because they definitely do. So what’s the problem? People are waiting. They want to see who is going to buy a property. No one wants to be first, because being first presents a greater risk, one that people buying luxury property these days, are unwilling to take. Properties are selling, so the market is definitely not dead this midsummer’s day, but things could be better. The market has stabilized, and everyone should be happy, because sellers are still way ahead of where they could have possibly imagined, just a few years ago, and buyers can make really good deals now, because the marketplace is flooded with listings. Who is going to give? That is the question, and from this writer’s point of view, it is definitely not going to be the prospective buyer. Therefore, prices are going to have to come down a little more, but no worries, because what seller could have ever imagined that at this point in time, their property would have been worth what is is valued at in today’s market? For detailed market information and property listings visit www.alexshay.com