For most of the rest of the country the summer months represent the prime buying time for residential real estate. It really isn't that hard to see why, since most other states have to deal with changing weather in a way that South Florida doesn't have to worry about. As a result, people are more likely to spend time driving from house to house in the summer months, as they try to gauge which new home would serve their family best. The strange thing is, however, that the summer months seem to have been great for South Florida real estate just the same.
Anyone who has seen most of the previous posts here for the last several months knows that the South Florida residential real estate market is a lot like the weather - hot and only getting hotter. Residential development is basically in full swing, especially in the condo market, as builders attempt to capitalize on the incredibly strong demand in the local area. But, although most reports indicate that it is all "sunshine and roses" in South Florida real estate - especially for sellers - a recent article detailed just how far the market may have to go to get back to where home values were before the housing "bubble" burst.
The South Florida residential real estate market has been hot for so long now that many people are probably expecting the other shoe to drop sooner rather than later. After all, with all of the residential development taking place throughout the local area prices will surely start to stabilize and perhaps decrease as some point, right?
Many of our South Florida readers are probably familiar with the fact that the federal government "grants" funds to individual states and cities for a million different reasons. For instance, each state gets federal funds for construction and repairs on the nation's interstate system, and those with maritime ports get funds for maintenance as well. However, some of our readers may not have known that Miami Beach gets a direct grant of funds from the federal government each year - not until recently anyways, when it was reported that a failure to keep track of the funds resulted in a penalty.
Rent or buy? This is a question that millions of people face when it comes to deciding where -- and how -- they will live. Many more people will be facing this question in the coming months as graduation season gets into full swing and young people everywhere begin their professional, 'adult' lives. The question of which option is better between renting and buying residential property has proponents on both sides, and there are usually a variety of factors to consider when it ultimately comes down to making a decision.
Take the good with the bad, weigh the pros and cons - most of our South Florida readers have heard these clichés before. However, when it comes to deciding on when - or if - the timing is right to jump into the steadily improving residential real estate market, these clichés could do both buyers and sellers some good.
Imagine what it is like for a person to be placed in a position where they have to sell their house in today's national housing market. For millions of people throughout the country, this point in time can be a depressing one. Not only will many people have to face the prospect of selling their homes for far less than they ever thought they would be able to, but selling a home could also come with title issues, disagreements over contract terms and lack of disclosure claims. It's is in the faces of millions of Americans every day: the residential real estate market is still struggling badly in the wake of the economic recession and the bursting of the housing bubble.
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.
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.
Although residents of South Florida are probably getting used to seeing mostly positive headlines when it comes to the real estate market, it can be easy to forget that Florida residents statewide are still having a lot of problems with banks and lenders. With year after year of signs of only a tepid economic recovery, making the mortgage payment is still the hardest part of daily life for millions of Americans, including many in Florida. And, according to a recent report, January of 2013 marked the fifth month in a row in which Florida led the nation in the foreclosure rate.