Even though the South Florida residential real estate has been popping in recent months, there appears to be a bit of a downside when it comes to the region's property market. According to a recent report, the commercial real estate market is not coming along quite as quickly as the residential market.
A previous post here back in September discussed the positive implications for homeowners in Florida coming out of the historic $25 billion settlement that the majority of states agreed to with some of the country's largest mortgage lenders. A large portion of the funds agreed to were to go directly to helping homeowners who were facing delinquent payments and other problems associated with their mortgage plans. However, Florida lawmakers have been wrangling with the state Attorney General over about $300 million of the funds. Now, it appears the two sides have come to an agreement.
All of the good news about real estate that our South Florida readers see through our previous posts and in the local news may be blurring out the fact that it appears the nationwide real estate market could be marching toward recovery. Individuals and families throughout the country who have been getting involved in real estate transactions in recent months may have noticed a small but significant trend - home prices are rising.
Although the good data on the South Florida real estate market has been coming for months, there have been no estimates about how long the hot streak will last. That changed recently, however, when a report was issued estimating that residential real estate prices will continue to climb all the way through 2013.
Many of our South Florida readers who are familiar with previous posts here have seen plenty of good news regarding the residential real estate market in the area. Despite the continuing malaise of the housing market throughout much of the country, with a recovery only coming at a snail's pace, the market in South Florida has been hot for months and is only getting hotter. Well, on the heels of all of that good news regarding the residential real estate market, a report has been issued recently which predicted that the commercial real estate market will continue to improve as well.