7 Ways to Help Recession-Proof Your Finances

We are not financial advisors but I thought this article was interesting especially during these unprecedented circumstances.

Americans were in the middle of the longest economic expansion on record, a slow-but-steady recovery that took nearly a decade for wage growth and employment to catch back up after the Great Recession. But in a matter of days, confirmed cases of the deadly, contagious pathogen skyrocketed across the globe, forcing states to impose stay-at-home restrictions that have ultimately led to millions of layoffs and shuttered businesses. More than …READ MORE

More Americans Are Sprucing Up Their Homes

While sheltering in place, more homeowners are taking on house projects. Stores that offer gardening supplies and building materials are weathering COVID-19, as retail sales of building materials, gardening equipment, and supply stores (paint and wallpaper stores and hardware stores) were up 7% in March compared to a year ago, according to U.S. Census Bureau data. “This is a good time for homeowners because.…READ MORE

Sellers that haven’t been able to sell their property in this market should re-evaluate their strategy and adjust 

accordingly based on the current market circumstances. 

Timing is everything. 

If you re on the fence about selling, now is the time to get off and put your house on the market.

There are 29 active listings this week. Much lower inventory compared to last year. This is good news for sellers. The bad news is CORONAVIRUS that has slowed things down due to UNCERTAIN ECONOMIC CONDITIONS, precautions taken by Sellers and Buyers and the current social distancing recommendations. However, we are optimistic that things will improve once again by LATE summer.

Fifteen listings are priced over $500,000. One property is listed over $1,000,000. Five active listings have had a price reduction (1 this week). This usually means that the property is overpriced. However, given the COVID-19 situation, some sellers may want to re evaluate their pricing to motivate buyers. We are still in a seller’s market and there are less price reductions as the inventory decreases. Once we get over this virus situation Sellers thinking about selling should act quickly and get their property on the market. Prices remain strong. Mortgage Interest rates remain low.

The demand is high for properties under $400,000. There are only 6 listings under $400,000. This will make it more difficult for buyers looking in that range because of the competition from other buyers. Multiple Offers expected for entry level buyers. Eight (8) are priced between $400-500,000.

Timing is everything. If you re on the fence about selling, now is the time to get off and put your house on the market.

5 active listings have had a price reductions (1 this week). 

What does this mean? Usually, the property was overpriced from the beginning. 

However, sellers are recognizing the market change.  

There are less price reductions as the inventory decreases.

Sellers that haven’t been able to sell their property in this market should re-evaluate their strategy and adjust 

accordingly based on the current market circumstances. 

Timing is everything. 

If you re on the fence about selling, now is the time to get off and put your house on the market.

During the period of April 17, 2020 through April 24, 2020 there were reported 1 new listing, 5 closed sales, 2 pending sales, 0 active with contract, 0 expired listings, 0 cancelled listings, 0 Temp off market, 1 price reductions and 0 price increase. Interest rates remain low. A GREAT TIME TO BUY OR SELL

Attention Sellers!

Low Inventory + Low Interest rates = Sellers Market.

Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, April 24, 2020. All closed sales are within the last 90 days

HOW DOES YOUR HOUSE COMPARE?

 A complete list of all the properties for sale in Miami Springs or any other area of 

Miami-Dade County can be sent to you on regular basis. 

Request it at:  charlie@leonardrealestategroup.com

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