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Hey, I am Jamey Prezzi with Miamicitydiggs.com and I am here with my partner.
*Hi everybody, I am Ognjen Prezzi.
We are luxury realtors in Miami Beach, Brickell and Downtown Miami. And, you'll have to excuse
our mess here. We have not posted for a couple of weeks because we are moving.
*Still trying to find a good set up for our videos. I am sure this is going to be fine.
But today something happened and it happens a lot and I said, let us hurry up and get
online cause I want to talk about this.
*Absolutely. We had a client that was actually looking for a property in the Brickell area.
As he was doing his research, he noticed that some of the units that he was interested in,
whoever purchased two or three years ago, they purchased in a completely different price
point. He basically was kind of concerned, he was wondering what was the reason for that.
Well, he wanted to justify that new cost.
So this is what you need to keep in mind. Buyers who bought a couple of years ago, bought
in a riskier market. So they assumed more risk. Now, did they win? Yeah, because the
prices are better now. But they definitely assumed a lot more risk. They also usually
had to finish out the units. Most developer units, come as decorator ready which means
what...
*Which means, basically, most of the times, they only finish the kitchens and the bathrooms.
So you as the new owner had to come in, you had to finish the rest of the units. Which
means, the base board, the floors, everything associated with the unit. This takes time
and energy, of course, the money.
The good thing is, is now and I just want to go back again. We had another client who
recently wanted to buy in a building that their friends had bought in several years
ago and they could not justify it. So you need to keep in mind when looking at this
prices, the market is completely different now. This market is more stable. So, the good
news is, you are going to usually assume less risk and less headache. Because you do not
have to deal permits and the floors. So that is the good side.
* You are basically buying the finished units.
You definitely have to keep those factors in mind and also keep in mind that, we are
in a really in good market. And, people want to live here, they want to rent here and they
want to buy here. So it's great news for you as a buyer. So if you have any more questions,
please feel free to give us a call at 305-793-8965
* Thank you so much and also you can find us online, Miamicitydiggs.com.
Have a great day! Thank you!