What's Happening in Today's Florida Real Estate Market?

What’s Happening in Today’s Florida Real Estate Market?

Florida has some of the most improving housing markets in the country, largely a reflection of more borrowers becoming current on their mortgage payments as the local employment picture improves and house prices rebound.

The real estate market in most parts of the state is truly thriving. It’s turned into a seller’s market due to several conditions such as the still low interest rates, the low supply of houses on the market (supply and demand), the wonderful year-round climate vs. extremely cold winters in other parts of the country, no state income taxes, job opportunities, school opportunities from the young to the college student.

Housing prices are affordable and will vary depending on your choice of location. With that being said, there should be a home for all, from young families to retirees.

Here are a few things to consider after you’ve decided to purchase a home. There are many details that must be attended to when you purchase. Your real estate agent will be able to guide you through each step of your home purchase.

  1. Contact a lender to find out what price range of house is affordable.
  2. You can then start an online search to determine your preferred neighborhood, amenities, number of bedrooms and baths, and other items you want in a home. Be prepared to eliminate if necessary.
  3. Try not to get your heart set on a house more than 10% above what you can afford.
  4. Decide on the real estate agent you feel most comfortable working with, preferably one who is familiar with your search area.
  5. Once you find the right house and decide to write the offer, be sure to put every detail in writing. One small omission can create a huge problem.
  6. Home inspections are critical. Choose a reputable home inspector, review his/her inspection plan, and make sure the proper insurance is in place.

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