Hi! My name is Tatyana Sobolevsky. Realtor in South Florida.
In this article I will cover two important topics that shape the market:
✅ Reserve funds for condominiums.
✅ Shift to a buyer’s market in 2025.
If you’re interested in this kind of content, don’t forget to like and subscribe to stay updated on the latest Miami real estate news. Now, let’s get started!
Reserve Funds
If you are planning to buy a condo in Miami, especially in a high-rise building, you absolutely need to know about the reserve funds of that condominium.
The SIRS report (Structural Integrity Reserve Study) is a detailed financial assessment of the building you are considering. It helps determine whether the association has enough funds set aside for future repairs and maintenance. Roof replacement, plumbing, HVAC systems, elevators, building facades, landscaping—all of these are costly projects that are funded by the building’s reserve fund.
Starting in 2025, Florida’s SB 4-D law requires all buildings three stories or taller to undergo a structural integrity reserve study every ten years. Additionally, a properly funded reserve, contributed by unit owners, must be maintained for all necessary repairs.
This became mandatory after the tragic Surfside collapse, as lawmakers want to ensure that buildings are not only structurally safe but also financially prepared for long-term maintenance.
If the reserve fund is insufficient, unit owners may face huge special assessments, and this is something that both buyers and sellers need to be aware of.
✅ If you are buying a condo, be sure to request the latest SIRS report.
✅ If you are selling, make sure your building meets the requirements and the reserve fund is fully funded, so buyers don’t have to deal with these financial issues on your behalf.
The Miami Real Estate Market in 2025
From 2012 to 2020, the market was in favor of sellers. Since 2012, housing prices steadily increased, creating excellent conditions for property owners. This growth continued until 2020, when the COVID-19 pandemic disrupted the economy.
Now, the situation has changed - Miami has entered a buyer’s market.
✅ Inventory levels have skyrocketed!
✅ There are a huge number of listings for homes and condos on the market!
✅ This gives buyers more options and better negotiating power.
At the same time, the high risk of flooding has led to a sharp increase in property insurance rates. High mortgage interest rates limit financing options. An overwhelming number of new developments has also flooded the market.
All this has shifted the market in favor of cash buyers.
✅ Housing prices are dropping! In some cases, I have seen price reductions up to 50%!
✅ If you have been waiting for the right time to buy, now might be the moment.
✅ Listings are sitting on the market for months!
By the way, removing and relisting a property on MLS to reset its days on market doesn’t work—the listing history remains in the system and is fully visible.Sellers Are Adapting to the New Reality
If you are a seller, don’t panic. Homes are still selling, but pricing and smart marketing now play a crucial role.
I understand that many sellers don’t want to lose money, especially if they bought at peak prices and invested in renovations. However, the market is shifting, and the situation for sellers may worsen in the near future.
You have two options:
Sell now, accepting some losses.
Wait for the next price surge, which may take several years.
What Can Help Sell Your Property Now?
✅ High-quality visual and technical presentation of the property
✅ Professional video and photo shoots
✅ Competitive pricing to attract potential buyers
Final Thoughts
Whether you are buying or selling real estate in Miami, understanding reserve funds and current market trends will help you save time, money, and stress.
Thank you so much for watching!
Please support me—like this video, subscribe to my channel, and leave a comment with your thoughts on the Miami real estate market.
See you in the next time! Bye-bye!
