Marian Mc Pherson - INMAN July 17, 2023
Debuire International Realty founder Sandra Debuire said well-to-do Florida homebuyers are sidestepping the mortgage quandary by making cash offers.
“Inventory is still low. There is nothing very exciting on the market, in my opinion” Debuire said. “Sellers still feel they are in the honeymoon in terms of pricing, and they can get a lot more for their units or houses. Buyers are more price-conscious. They’re looking for well-priced, nice properties.”
Although it’s taking longer for buyers to find the right home, Debuire said they aim to close lightning-fast through cash offers.
“Cash is king,” she said of Miami’s market, which is flooded with foreign investors and inbound moves from the West and East coasts. “Because today, as an investment, it doesn’t really make sense to buy your property with a high-interest rate along with elevated condo fees, taxes and insurance costs.”
“Buyers are more careful and not as excited as they used to be,” she said. “That being said when a property is when priced right and it’s a nice property. It sells super fast.”
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