Yes, there are many signs around town showing that Miami Real Estate is back. The most factual. Is the recent news regarding taxable values aka assessed values. Over the last 15 years I have experienced both buyers and seller use the value as an indicator in one way or another to help calculate the sale or purchase of their new home.
For the last 5 years assessed values have been declining and market values have been following. Many benefits to both buyers and sellers have come from since 2007 such as; Buyer affordability and lower property taxes and most owners felt a decrease in the property taxes.
Now the assessed values have shown an increase, it is a great indicator that the Miami Real Estate market is stabilizing. To see recent news regarding this trend look at this article Miami Dade Taxable Value on the Rise in the Miami Herald.
Now it’s the time to get of the sidelines, of the couch or of the beach and begin your buying or selling process.If you are a first time home buyer or you are upgrading if you buying now and you are eligible for homestead exemption your taxable amount is lock in with a 3% cap. allowing your property taxes to maintain reasonable!
Give us a call to discuss your real estate plans.