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How can I sell property in Florida fast in 2020?
Good question! Florida’s otherwise flourishing housing market has been especially vulnerable to economic impact of the Covid19 pandemic.
A report by ATTOM Data Solutions looked at the housing market scenario in each of the 483 counties in Florida and it does make for a grim reading.
Todd Teta of ATTOM Data Solutions says, “It’s too early to tell how much effect the coronavirus fallout will have on different housing markets around the country. But the impact is likely to be significant from region to region and county to county."
Flagler, Lake, Clay, Hernando and Osceola were among the counties that were found to be deeply affected by the Coronavirus. On the other hands, things are looking much, much better in Broward, Palm Beach and Miami-Dade counties, where the curve seems to have flattened out.
Gov. Ron DeSantis and his administration has done a stellar job so far, doing their best to limit the spread of the pandemic. Gov. DeSantis insisted that the first reopening would begin soon. “There’s been good trends; there’s been a lot of great work in all three of these counties. We’ll hopefully be able to go forward soon in southern Florida,” he said.
Phase 1 of the reopening will be restricted to restaurants and other retail establishments. It won’t be business as usual as barber shops, bars, gym and salons will still be closed.
“We want to be safe about it. We want to be smart about it, and it is going to be a step-by-step process. It’s not just flipping a switch. But I do believe for Florida to be successful we need our southern Florida communities to be successful,” the governor said.
Local councilors such as Mayor Dale Holness have stepped up as well. Holness said that it was a learning process for everyone involved in the relief operations. “The sensible thing is for us to move together as a region. The one thing we don’t want to do is open too early without using the proper science and data and then have a spur in new occurrences of the coronavirus and then have to shut down again,” he said.
What about the real estate market in Florida? Is it still possible to sell property in Florida in 2020?
Carl Marzola of Atlantic Properties International says, “Has the market slowed down? Yes. Yes, it has. But it hasn’t stopped.”
Dan Kodsi, a veteran real estate developer, says homeowners value their property more these days because of the pandemic. They truly understand the importance of their home.
Estate agents in Florida say it’s a buyers’ market, buyers have all the power, and sellers are desperate to sell. But selling isn’t easy, as buyers are hesitant about going ahead with the purchase without physically visiting the house.
While FaceTime and YouTube are highly effective tools and give buyers a very good idea of what a property is like, it’s not the same as stepping foot in the property. A frustrated real estate broker said, “You don’t see it, you don’t fall in love with it. It’s an emotional purchase, so if you’re not getting them in there, the market suffers a little bit.”
Another major roadblock is getting home inspectors to visit the property, without which the transaction cannot proceed. Anthony Graziano of Integra Realty Resources says, “Home inspectors need to crawl all over the home. The difficulty is: No. 1, there’s not a ton of transactions happening, so they don’t have a lot of work; No. 2, where they have inspection requirements, the seller has to be really motivated to let somebody or two or three people from the home inspection company come in for three hours and crawl all over the house.”
So, can you sell property in Florida fast in 2020 ?
Yes, but you can’t do it yourself, hiring a local real estate agent won’t help much either if you want a quick sale. You’d do well to go with an overseas property expert, someone who has contacts/business relationships with cash rich buyers from Europe, Asia and the Middle East. These are highly sophisticated investors looking to invest in Florida properties even now, when everyone seems desperate to sell. Contact us to know more.