"[M]arkets do not like instability," states one potential buyer of a luxury residential property in Florida.
That, of course, is obvious and a given, with perceived uncertainties and dislocation where large amounts of money are concerned always having a jittery effect on many investors.
And a widespread breakout of nerves has notable effects in areas ranging from investors' inflows into the stock market to -- as centrally noted in a recent Florida real estate publication -- the willingness of both sellers and buyers to pull the trigger in both commercial and high-dollar residential property closings.
That media source centrally alludes to the just-concluded presidential election and surrounding uncertainties regarding it that have delayed high-price closings across many metro Florida areas.
A bit of angst has always accompanied the presidential and so-called down-ticket races, with this year being no different. Until the proverbial smoke clears the air, many people view it as prudent to adopt a wait-and-see approach to material transactions.
And few things are of course as material as closing on a commercial or high-end residential property, with both buyers and sellers having weighty and distinct concerns in the process.
Well, the election is now over, with the political baton having been passed and relative calmness featuring in its wake. Domestic and global money markets have been steady during the final days leading up to voting (in fact, with a decided uptick recently), and signs of market stability prominently emerged in the election's immediate aftermath.
Consumers engage in significant property closings at all times and notwithstanding extraneous factors that can shake nerves and temporarily roil financial waters. What is important when they so is that they have acted with due care and made well-considered decisions.
In the realm of high-value real estate closings, timely and close involvement with a seasoned real estate attorney can help to optimally promote a seller or buyer's best interests. We will address that in some detail in our next blog post.