Our South Florida readers have probably seen a lot of the proposals batted around in the news about the best ways to help homeowners who are struggling to make their monthly payments. Previous posts here have detailed the historic $25 billion settlement between the majority of states and some of the biggest lenders in the country, with much of that money to be designated for homeowner relief. And, many of our readers keep up with the news out of Washington, D.C., and the Federal Reserve, where interest rates are being kept at an all-time low in part to help stimulate mortgage lending. However, some may not have heard about the Hardest Hit Fund, right here in Florida.
Prospective buyers take note: the seller's market in South Florida may be here to stay. Reports continue to surface that not only are owners who are looking to make a real estate sale in a particular strong position these days, but they are also increasingly able to dictate the terms of sale. This can often lead to bidding wars between potential buyers, and can also result in a fully paid, cash buyout.
Although previous posts here have covered the rebounding South Florida real estate market extensively, it appears that even though the area at large is a hot market, individual areas are doing better than some others. And with the inventory of residential real estate beginning to shrink dramatically, the price increases may continue.
Most of our regular South Florida readers have probably seen plenty of our previous posts extolling the positive aspects of the area's real estate market. Residential property has been selling fast in South Florida, and it has been selling at increasingly higher prices. Now, recent data is suggesting that this trend is continuing, but another one is emerging - tightening inventory.