The Experts In Real Estate And Mortgages

Here are the signs of an improving real estate market in Florida.

You probably wont hear this on the news because they only seem to like printing the negative news about the home market since it sells more newspapers than positive news does.

New home sales have risen in the Orlando area over the last 2 months  as a result of low interest rates and a leveling of new home prices. Also the inventory of home for sale went down slightly in March by 512 units mostly due to the spring home buying season cranking up. The number of sales actually increased 13.56 % from February to March.

The weak dollar and favorable exchange rates for European buyers has made South and Central Florida even more appealing. Europe has a growing economy and affluent buyers that are buying many second homes in Florida. Stirling Sotheby’s has even signed 25 year licensing deals with real estate agencies in Germany, Italy, The Czech Republic and even Slovakia due to the influx of European buyers.

Canadians are back and buying in droves especially in the Fort Lauderdale and Orlando area , also due to the weakness of the U.S.dollar. They have easy qualifying and are returning to purchase vacation homes after a slowdown in purchasing after hurricane Wilma in 2005. Canadians can purchase here with as little as 10% down and at rates in the low 6% range.

Now don’t get me wrong as we still have a ways to go but this is definitely good news for the real estate market here in Florida and may help stimulate folks to stop putting off purchasing. There are many bargains due to short sales and foreclosures up to 40% lower than market value.

 Interest rates are great, prices are low and the weather is great.

What more could you want?

Posted under Foreclosure & Mortgages & Real Estate |