Monday, November 27, 2017

Want to make the most money on your home? Don’t sell it yourself!

Want to make the most money on the sale of your home? Don’t sell it yourself. On this week’s Miami Herald Business Monday, Keyes Company’s CEO Mike Pappas explains the importance of hiring a Realtor® when you are ready to sell your home.

If you want to save money by selling your home yourself, that’s OK. Just don’t expect to make any money doing it. A study by two leading economists finds that owners secure deals at prices below those on similar properties sold by Realtors using the Multiple Listing Service. 

Read the full article here!

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Thursday, November 9, 2017

Single Family Homes on the Market range up to $65 million.

Recent article of Miami Today discusses the amount of high priced single family homes.

Source: Miami Today
The number of expensive single-family homes is not dwindling, but instead there is an abundance of them. 

With the high price of these homes, only a small amount are willing to reduce the price. Many sellers are wary to reduce their price, but in the market for the past few years, it may be what is needed to get the listing sold. 

Sales of listing were also slowed down with the arrival of Hurricane Irma in South Florida. Agents were out of the office for about 2 weeks, causing closings to be delayed and making the market seem sluggish.

"There is a strong demand and interest for properties that are priced at a realistic market price and are in move-in condition," says Keyes CEO and President Mike Pappas. He ends with saying that he believes that the upcoming season will be good for the luxury market due to the proposed tax reduction.

Tuesday, November 7, 2017

New Tax Plan and it’s South Florida Real Estate Impact

The proposed tax plan’s biggest impact for our market may come out of state.

Source: Miami Herald

 Local real estate experts believe that the short term impact could be a slight decrease in pricing in the area as new buyers weigh the cost of renting versus owning a home. Eventually, the benefits of owning a home will outweigh the costs and that, along with South Florida’s abundance of foreign buyers, will keep the market steady. 

Most believe that the biggest impact will come from buyers from higher-tax areas like New York and California who might start looking at South Florida and Miami as much more desirable locations if the residential mortgage interest expense deduction is lowered.

Read it in their own words here!