Real estate agents in Florida will likely see a market unlike anything they’ve ever experienced over the next several months.
While Irma left destruction in its wake, seeds of opportunity have been planted, which could lead to growth for agents in areas of Florida.
According to Saddy Delgado, One Sotheby vice president, now that Irma is history, sorting out the Florida real estate market may not be as great a challenge as initially thought. She told CNBC recently that there is a lot of opportunity in the Sunshine State even after Hurricane Irma devastated areas of southern Florida.
“We are going to see a lot of movement in the market. A lot of people who don’t want to deal with the hurricane and want to sell. This may be their second or third home and they just want out.”
Over the last several years, markets like Miami have seen plenty of building going on, the point of overbuilding. While there are conditions that may seem like a recipe for a downturn, with some areas that have been overbuilt compounded by issues with an increasing number of homeowners ready to put their properties on the market, Delgado said this can lead to a flood of opportunities for clients who are looking to buy,.
“There will be a lot of money flowing around. There will be opportunities for buyers. People are fixing things, upgrading and downgrading. There will be more activity. There will be more sales. You generally see more transactions after a situation like this.”
It didn’t take long after the storm for Delgado’s phone to start ringing. She said she has heard from clients who are looking to get out of the area. She also has had clients looking to buy in the area.
“I have personal experience of people already calling me.”