I sell homes in Fort Lauderdale and as anyone else can tell the home prices and interest rates has increased to ridiculous amounts. Another thing I am noticing is on top of home prices being high, inventory is low. Which means if I'm a potential homebuyer looking for nice home in a quiet neighborhood I'm up against fierce competition. Obviously, it's a sellers market. But because it's a sellers market I don't just think it's a great idea to sell my home to net more at closing. I'd also sell my home to move to another location with a lower cost of living to enjoy my ROI.
Yes, cost of living has increased nationwide, but especially if you are from South Florida there are other nice places to live in where you can enjoy your life with less traffic ;). A good idea in my opinion is to sell my South Florida home, start a bidding war, get someone to over pay for my home, net the most I can and move somewhere else that's more affordable. If my home is worth $600,000 with $350,000 equity, I'd engage in a bidding war and get an offer for $640,000 than go somewhere that has a home for $350,000 and invest the rest of the money.
Think about it. If you are from the South Florida area and you are looking to sell your home please feel free to reach out to me.