Can I Still Buy a Pembroke Pines Home Below Market Value?

Today, I received a question from a potential home buyer. He asked me if it was possible to buy a home in the Pembroke Pines 33029 zip code for $175,000. He specifically said, “I thought because of the market value today, we may be able to look at a $200,000 priced home and bring them down to $175,000.”

Unfortunately, the market doesn’t work like that in 2012. Houses are being sold at market value. In areas like 33029, the good houses do not stay even a couple days on the market. We, as realtors, are competing for the same homes and are often being outbid by cash buyers and people that pay asking price (or more) to get the home.

In 33029, all homes are desirable and inventory is extremely limited. Every school in the 33028 and 33029 zip codes is A Rated and it’s an ideal family community.

In this new market, it’s very difficult to buy a home at below market value. In 2012, if you submit $175,000 offers for $200,000 homes in Pembroke Pines, you can expect quite a bit of disappointment as higher bidders beat your offer every time.

Houses are not selling “cheaper” than before. Houses are actually selling at their real market value. This wasn’t the case during the housing bubble of 2004, when people were paying too much for houses. What we’re seeing now, is a normalization of pricing,