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According to three leading US economists, the Florida real estate market is entering 2012 on an upward trend.   ”Our state is in a mini-recovery, sales are trending up, listing inventories are falling, the supply of lender-related properties has stabilized, and we are seeing multiple offers on homes in some Florida markets.”

There’s been a change from just a year ago. We’re seeing a drop in inventories of homes for sale in Florida.  This is a sign that demand is picking up and prices are stabilizing.  ”Buyers have stepped back into the Florida market.”

It looks like we’ll see a gain in home prices in the Miami and Naples markets and from there the recovery with move through central Florida and North Florida.  Foreclosures will remain a significant part of the North Florida market and other areas of Florida this year, but lenders aren’t putting them all on the market at once, they are putting them out at a gradual pace.

Thinking about buying a home?  Read more here: This is the most affordable home ownership period in over 35 years!

 

Category : Blog &Feature

 

I’ve been reading several blogs and articles relating to home affordability lately.  It’s very interesting reading!  According to the National Association of Realtors, home affordability is the best it’s been in 40 years!   Due to falling home prices and record low mortgage rates, home ownership is now within the reach of more families then ever.  Homeowners are now bringing in double the income needed to cover the cost of an average home.

I published a blog post back in 2008 which mentions that (at that time) it was the most affordable home ownership period in 35 years, and it’s only gotten better!  Just compare the median price of a home, interest rates and qualifying incomes and you’ll see how buyers should really consider purchasing a home right now.  If you’ve been on the fence trying to decide when to buy, don’t consider price alone.  If you are purchasing the home with a mortgage, think about today’s interest rates and how they effect your affordability factor and then consider purchasing.

I looked at the interest rates being offered today, and you can get a 15 year fixed rate mortgage for 3 percent!  Wow! …and a 30 year fixed rate FHA mortgage is 3.75 percent!

Contrary to popular belief, banks are still lending, interest rates are low and it is a great time to purchase a home!  There are even loan programs that will get you into a home with no down payment!  Don’t let this opportunity pass you by!

 

Call Gabe Fitzhugh for more information:

Call: (386) 754-2818

Email: gabefitzhugh@gmail.com 

Selling homes in North Florida… Lake City FL and the surrounding areas.

Category : Blog &Feature