The economy will slowly increase and Florida will gain a minimum of one million new jobs over the upcoming seven years. Unfortunately unemployment rates will stay at 11.8 % which effects the housing market to remain depressed for more time. Other issues slowing down the housing market from recovery is the foreclosure moratorium, credit being tight, and apprasials continuing to be lower than negotiated prices for properties. However, the banks are continuing to resolve their foreclosure issues while the work market is continuing to slowly improve. In September the average sales price for single family residences was down 1.9% from a year ago in Florida according to NAR. As for condos, there has been a 33% increase in sales compared to a year ago in Florida.
I have an interest in selling foreclosures and when we inspect the homes we are usually able to repair any damage to AC’s, water heaters, flooring or rugs or cealing leaks so that the homes sell as if in new condition. Also, condominiums and townhouses are a good way to go because they tend to be nicer inside and out than some single family houses that cost close to the same price, especially when buyers are on a budget for the amount they can spend on a property.
Call Lindsey Penn at 954-817-9930 and email [email protected] anytime to make your life easier when needing help in finding and purchasing a property for you.
