Whether you are in the market to buy a house or considering selling your home, first impressions speak loudly. According to multiple surveys, it’s documented that home buyers will make their decision within the first ninety seconds of entering a home. Most home buyers prefer the open floor plans with spaces that can serve multiple purposes and lend themselves to easy entertaining. It’s all about ambiance with a little illusion added in that captures the attention of the home buyer.
We’ve all heard the popular 3 words that describe desirable real estate: location, location, location. While that rule still applies, there are other defining market trends. It’s been reported that the highest priority for home buyers is finding a home in a stable neighborhood that would maintain its value. Buyers are also looking for homes that are in move-in condition. Energy efficiency and functionality lead in popularity over large square footage and luxury features.
Home buyers in 2012 have some advantages over the buyers in years past: low interest rates and low home prices. While luxury properties used to linger on the market, we are now seeing offers coming in on the day of the first showing. In the Miami area in particular, we are experiencing multiple offers and our inventory continues to decline, while the competition and demand continue to escalate. Miami is hot and so is the real estate market.
*Karel Kutner Foti is a Contributing Real Estate Writer for JETSET Magazine www.jetsetmag.com.