Florida Real Estate Market Keeps Moving – Just a Bit Slower

In recessions, pandemics and booms, the real estate market adjusts, and since a home is often an emotional purchase, some think stay-at-home rules will only boost demand.

MIAMI – Jonathan Tripp sat outside of a title agency in his truck as he gave his signed documents to masked and gloved agents. He rolled his window back up before they went into the office and returned with his copy of the paperwork.

And with that, his two-bedroom, two-bathroom home in Fort Lauderdale was sold for $290,000, a process Tripp says was done about 80% electronically in the midst of the coronavirus pandemic. He and his fiancé are now under contract to buy a three-bed, two-bath house in Coconut Creek for $340,000.

While much of the world is on hold due to the stay-at-home orders and quarantine recommendations that accompany the COVID-19 outbreak, the real estate market in South Florida keeps moving. It’s just moving slower.

Carl Marzola, president of Atlantic Properties International, last week showed an $850,000 four-bedroom colonial home in Fort Lauderdale’s Poinsettia Heights to a large family and had a client accept an offer on a three-bedroom corner unit in a building on the ocean. Wesley Ulloa, broker owner of LUXE Properties, lists a $560,000 condo in Coral Gables and a $300,000 townhouse in Miami Lakes among her recent closings. Saddy Abaunza, vice president of Sotheby’s International Realty, has had wealthy clients rent local luxury homes to spend their time for the duration of the pandemic.
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Author: Dominick Tascher Group - Blog

Naples to Estero Real Estate Blog by Dominick Tascher Group at MVP Realty brings to the public the latest information about real estate news and trends, market reports, new communities and also topics related to living in the paradise of SW Florida; Naples, Bonita Springs, Estero and South Fort Myers.