Anyone familiar with previous posts here probably thinks that it is all "sunshine and roses" for the South Florida real estate market. There have been plenty of indications that this is true, from continually rising home prices to residential development, and even some news of bidding wars for the choicest of property. However, for those who have been buying and selling homes and other properties in the South Florida area in recent months, it can be easy to forget that there are still millions of Americans, including many in the local area, who are still having problems meeting their monthly mortgage payment.
A successful real estate closing is the ultimate goal for both buyers and sellers in the housing market. Readers familiar with previous posts here probably know by now that a lot of successful closings appear to be taking place throughout the South Florida region, as the local housing market has seen a thriving recovery in recent months - an exception in an otherwise continually lackluster national market. A recent article detailed some data on the South Florida market which shows a continuing trend of upward growth in residential real estate.
When a South Florida resident owns a piece of property, that owner can do whatever they want with the property, right? American ideals hold to the thought that a homeowner is the "king of the castle," the "lord of the manor," entitled to do with their property what they see fit to do. However, that may not always be the case in some situations.
Residents of South Florida have no doubt seen firsthand by now the land development rush in the area. Residential development, in particular, has been seeing quite a jump over the last several months. Many market watchers across the country have taken notice of the winning streak that residential property in South Florida has been experiencing, and one article recently focused on the prospects of the local condo market.