Tips From Juan Mestre, Your Forever Realtor® Associate

Should sellers get in now, before it's too late, to maximize profit, or should they wait and hope for another market reversal with the peak in property prices probably mostly behind us?

Sellers are now debating whether or not to hold off on selling their properties because the property market has significantly cooled.

Two years ago, making a choice was simpler since prices were at record highs, mortgage rates were at historic lows, and purchasers were so eager to acquire a property that they frequently overbid and waived any assessments. However, as more properties have entered the market and borrowing rates have risen, purchasers have begun to recover more power, placing sellers in an unexpected situation. There is some uncertainty around the decision to sell for potential sellers choosing to list now: Has the market's price high been overlooked by them? Will waiting to sell further reduce their chances of getting a high price?

Ask yourself if you are willing to wait another 5–10 years. If not, you really ought to think about selling right away. Sell now if you must relocate since the future is hazy. The majority of experts concur that if a seller has to relocate and wants to, they should list their house for sale. However, a seller should remain in their property if they enjoy it and are content with their present payments.

While South Florida has seen a slowdown, Jeff Tucker, senior economist at Zillow, stated that now is still an excellent time to sell. I don't think there's anything to gain by waiting, in part because the market is changing and because increasing interest rates are further chilling it down. The housing market has been primarily driven by interest rates and inventory levels. While inventory levels have increased since last year, they are still low enough to keep prices high, which is good for sellers. Sellers would face increased competition in selling their properties if additional residences were to become available on the market. Eli Beracha, the head of the Hollo School of Real Estate at Florida International University, stated that it "does look like prices will fall down a lot more since people are decreasing their asking price."

A good agent, like myself, will be familiar with the market and locations you're living and working in. It's my job to know this, thus I will be far more familiar with your search region remember that having me, Juan Mestre, as your real estate agent in your corner may make many difficulties go away for your home sale and purchase. 

Sourced from the information available for NAR, FloridaRealtors.com, Realtor.com, BHHS.com, and my knowledge.