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Celebrate the real estate closing - but not for too long

Imagine what it is like for a person to be placed in a position where they have to sell their house in today's national housing market. For millions of people throughout the country, this point in time can be a depressing one. Not only will many people have to face the prospect of selling their homes for far less than they ever thought they would be able to, but selling a home could also come with title issues, disagreements over contract terms and lack of disclosure claims. It's is in the faces of millions of Americans every day: the residential real estate market is still struggling badly in the wake of the economic recession and the bursting of the housing bubble.

Fortunately, South Florida residents may not be dealing with all of these problems. Anyone familiar with previous posts here knows that the local area is like an oasis in the desert when it comes to the news on residential property. Home prices are going up month-by-month, residential development is beginning to boom again and real estate closings are likely occurring every day. Not a black cloud in sight for South Florida home owners, right?

According to a recent article, that might not be entirely accurate. Reports indicate that individuals and families who are selling their homes - sometimes surprisingly quickly - are faced with another dilemma: finding a new place to live.

What happens to many individuals and families who successfully reach a deal to sell their home? They immediately go from being sellers to buyers - in a seller's market. For those who sell a home in South Florida and wish to remain in the local area, they are now dealing with all of the issues a buyer in the red-hot local market must face. The good news is that for all of the questions involved in the buying and selling of real estate, there are always options to get the right information to make the right decision.

Source: Sun Sentinel, "Housing rebound catching some sellers off guard," Paul Owers, April 20, 2013

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