Investing in Miami: Covid-19 to Investing in Miami Properties

Nowadays Crisis is often synonymous with stopping consuming or investing?

“With time and the large amount of global information, the buyer has been highly educated but it is always necessary to connect with someone who understands it and can materialize the needs and interests of the current investor, who has changed his interest and way of investing when from Miami and South Florida “.

The most important advice I can give to any investor who is inexperienced in the Miami and South Florida real estate market is to seek advice from a licensed Real Estate professional.

Sometimes the wrong idea of ​​saving causes many to invest poorly advised or without being really understood by the agent who represents them.

It is very important to listen to the investor but also to let him know all the investment possibilities, hedges or legal, accounting and financial risks.

Nowadays Crisis is often synonymous with stopping consuming or investing?

And while it is true that in moments of uncertainty it is necessary to be cautious, what we live has also opened up opportunities for us. The real estate market in South Florida is an example of how to withstand the situation.

Thus, investing in houses in Miami for sale is still a good option. The reasons are very varied. Based on the fact that this is not the same context as that of the 2008 crisis, there are other factors that generate expectations about the valuation of properties in South Florida. We tell you what they are.

The economy and real estate market are not the same as 2008. For context, in the three years leading up to the 2008 crisis, US citizens withdrew $ 824 billion in cash from their home mortgage values ​​(Taylor, 2020 ). This shows the panic that families lived in those days.

In contrast, withdrawals of $ 232 billion have been recorded in the last three years. This reflects a much stronger confidence in the market. Additionally, 65% of Americans are homeowners. 37% of these are homeowners without a mortgage. More than half of the remaining 63% have already paid at least 50% of the total value of their home.

These numbers imply that a large portion of the United States population does not need to sell their homes in times of crisis. For others, those who have purchased Miami homes for sale, government stimuli have helped lessen the effects of COVID-19. In other words, those who have debts will be able to continue paying them. Likewise, there will be no large auctions of properties that significantly reduce its value.

Today, for example, a strong demand for certain types of houses in Miami is evident. There is an accumulated demand for real estate, which drives its valuation. On the other hand, interest rates are at one of their lowest points in history (Taylor, 2020). All these variables mean that, despite the COVID-19 crisis, this is a different time from 2008. In other words, it is a good time to make a real estate investment.

The virtuality to overcome the crisis

Apart from the above, in the midst of the crisis caused by COVID-19, the real estate industry has been transformed. Although most economic activities are “closed”, this does not mean that they have stopped producing. And while sales showrooms are not open to the public, and it is difficult to make appointments and close contracts, there are alternatives.

Acquiring houses in Miami for sale implies entering “the new normal”. Thus, through video calling platforms and protected digital signatures, the industry has continued to move.

Finding some of the Miami homes for sale is now even easier. Some agents, for example, carry out 3D tours or virtual presentations. This allows investors to view their future property. Thus, photos and videos are today more than ever fundamental formats to have a better appreciation of the property.

As you can see, the real estate market in Miami and South Florida presents positive prospects. Just like investing in company stocks, the best strategy is to anticipate a promising future. In this way, it will be possible to take care of and add value to personal or family assets.

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