In South Florida, we face a challenging real estate market. While the residential real estate market has recovered nicely over the last few years, the commercial real estate market is still tending to lag behind. However, good or bad, the local market will always present challenges to someone involved in a real estate transaction.
Right now, prospective buyers are facing the most challenges when it comes to residential real estate. Even though inventory is rising as residential development continues to plow forward, sales prices are trending toward the higher side. That can be especially challenging for first-time buyers, as any purchases will likely require a larger down payment. But, other buyers are facing challenges too, as it can be difficult to find an ideal location with the seemingly limited options in the area at times.
On the commercial side of the local real estate market, the buyers are the ones with a bit more control. Owners of commercial real estate continue to have problems finding businesses to lease space, much less to flatout purchase a commercial property. However, that doesn’t mean that there aren’t opportunities for sellers to take advantage of.
At our law firm, we know that it is important to know the details of every real estate sale, whether it involves residential or commercial property. Each real estate transaction will involve unique challenges, so sometimes unique solutions are needed. For more information about how our law firm attempts to help buyers and sellers who are involved in a commercial or residential real estate transaction, please visit our website‘s For Sale by owner page.