By now most of our readers are getting quite used to seeing continuous reports about how well the residential real estate market in South Florida is recovering. After all, negative news about this sector of the local market is few and far between, and what negatives there are often only arise after someone reads between the lines. But, that may be just the case in a new report about South Florida home prices.
Most of our readers know that buying a home is one of the biggest decisions they will ever make in life. It can be such a financial commitment to own a home that jumping into the residential real estate market without knowing what to expect can leave a prospective buyer's head spinning. With all of the details involved, from negotiating contract terms in real estate agreements to unexpected title issues, it can seem like the whole process takes forever between that exciting period of house hunting to the actual real estate closing. So, for potential buyers and sellers in South Florida, what can they expect?
Many South Florida residents wade into the residential real estate market very carefully, ever mindful of the wide variety of complications that could pop up, from title issues, lack of disclosure and negotiating contract terms. But, one thing is clear: these issues are not stopping buyers from doing their best with what is available in the local real estate market.
Most of our previous posts for some time now have focused on all of the good news associated with the South Florida real estate market. Home values have been rising consistently, residential development is firmly underway and residential property in the area seems like it has never been hotter. However, many of our previous posts have also commented on the possibility of the housing recovery picking up too much steam, leading to more problems in the future - possibly the near-future. A recent article in the Sun Sentinel sounded those same alarm bells.