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Old 02-03-2023, 06:37 AM
 
Location: Coral Gables / Bonita Springs
2,128 posts, read 2,356,603 times
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Quote:
Originally Posted by elchevere View Post
How many of those were “part time” agents?….maybe Marc can provide some insight.

More importantly from the same article:

Prices appear to be holding, despite the slowing volume. The same report found the median price of single-family homes rose 1 percent in Miami-Dade, year-over-year, to $530,900. The average price of condos rose 5.5 percent to $374,500.

Miami is not immune to a correction; perhaps it will follow suit later than many other markets—but as of now, not yet and defying what is taking place elsewhere with some experts expecting that to continue in 2023.
This happens a lot. Part-timers let their licenses expire when the money stops coming in easily. Some are 'investors' who got their license to flip and then decided not to flip anymore. Obviously some retired or died or moved. But usually any 'correction' sees agents leave the business. Its so easy to get your license and even easier to lose it (Forget to do Continuing Ed).

I saw a funny meme the other day, it was Tom Brady's retirement video (the first 10 seconds) about 'I'm gonna make this quick, i'm retiring..for good"...and the caption was "Agents who got their licenses in 2021"


Miami still has massive appeal and now we're seeing the foreigners tick back in. It really says something that a guy like Lionel Messi would consider retiring to Miami vs anywhere else in the world at his age, with his $$.

Meanwhile the New Yorkers have returned or new people have taken their places. The NY Rent is peaked again to the highest level (as I predicted on here 2 years ago when it was all the 'NY Is dying, people are leaving in droves' comments).

The appeal for Miami is so much different than anywhere else in Florida. There is a lot going on too...from the restaurant scene, the new buildings, the businesses moving here, the brightline adding stops and becoming more accessible, Soccer stadium deal coming along, etc etc.

For Real Estate, miami is always great to buy when things are low because it picks back up and is always first in the state for 'rebounding'.
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