With interest rates beginning to climb we are now seeing a reduction in inventory levels and an increase of multiple offers on properties. You may ask why is this important? It means that buyers are beginning to recognize that even if prices were to decline a small percentage over the next few months, their monthly mortgage payments could increase -which in turn means they can afford less when selecting their new home. I just completed my monthly market update for selected areas of the county. Go to my newsletter to read the local market conditions on www.FergusonMovesRealty.com or send me an email for a specific neighborhood and I will be happy to provide a free analysis. From what I am seeing it is occuring mostly around West Miami and North Miami. However, I've had a couple of multiple offer situations on South Beach. Is anyone else experiencing multiple offers?
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Posted in: Real Estate Blogging
