Over the last few weeks, we've discussed prospective real estate prices in South Florida for 2012 and 2013. While no-one can know for sure what the future holds, paying attention to a wide range of perspectives can help buyers and sellers make informed decisions when it comes to closing on a real estate transaction.
According to one California-based company that conducts real estate research, Broward County and Miami-Dade County may make up one the country's top-performing metro areas in 2012. The research company projects that the two counties, which count as one metro area, may rank in the top five major metro areas nationwide, based on what is expected to be an 8.8 percent price growth this year.
An 11.7 percent price growth is expected for Orlando, which the research company projects will lead the nation. And Tampa may also be one of the country's leaders in terms of stabilizing home prices. Incidentally, these particular analyses are based on the country's top 50 most populated metro areas, meaning Palm Beach County wasn't included.
The findings in this study suggest that Florida real estate markets are stabilizing, in part as a result of large increases in the valuation of lower-priced homes and an increased percentage of cash-only transactions. Steady investor activity in Florida has also helped to increase demand.
Still, others who follow real estate trends in South Florida have a bleaker outlook for 2012. They project that prices may continue to decrease throughout the year and not bottom-out in some parts of the state until 2013.
Residents in Broward County and the surrounding areas will likely benefit from consulting with a legal professional who focuses on real estate transactions. An attorney can help prevent expensive snafus that might delay or otherwise complicate the process of closing. Even when a trusted real estate agent is helping to finish a deal, an attorney can help guarantee that one's best interests are clearly represented throughout the closing process.
Source: sun-sentinel.com, "Firm upbeat about S. Fla. home prices in 2012," Paul Owers, Jan. 9, 2012