Housing Market

If you observe the trend of Florida housing market, you will find that condominiums have increased in number over the past few years. As per the regional and the state real estate researchers and analysts, the factors that led to such an increase can be explained.

Some of the major factors that contributed to the growth of the condominiums in Florida are:-
* Consistent low interest rates
* Scope for flight-risk secure investments for outside investors from mostly Asia, Europe and South America.
* High speculation and demand for the same.

Creating high demand for Condos

* Speculators had created much hype about condominiums in Florida Housing Market. Therefore, the people who have been keenly observing the housing sector have noticed that the reports pertaining to housing market in Florida were purely based on speculation. This act of speculation is popularly termed as “Flipping”. This created huge demand for condominium dwellings. As a result there were more condo development programs as well as new projects that were initiated.
* With an in-depth research on the Florida housing market, it became increasingly clear that speculation was based on the buyers who kept their focus on pre-construction condos. This in turn made the lenders impose certain restrictions on condo borrowers. Some of these restrictions included exclusion of contract projects to buy-backs, the rights of the first order, profit sharing in the time of flipping and so on.

Present Condominium market in Florida

Though it is complicated to ascertain, but the Florida housing market structure reflects that owing to the U.S.dollar becoming feeble for a while, it has resulted in the foreign purchasers dominating the residential condominium market. Prospective buyers who hail from places like Russia, Ireland, England, and Scandinavia have been buying out these properties both for recreational, residential and other purposes. This was clarified some time back by the Miami-Dade real estate consultants.
The market observers and analysts have noticed that issue of currency exchange disparity was almost the opposite that took place in 1980’s. This was when the green dollar was evaluated twice that of the British pound.

Pricing in Florida housing market

Florida housing market at present showcases the homes and residences located in beautiful locations. This wasn’t there for a long span in Florida and hence it provides a great scope for buyers as well as sellers. Thus the pricing is not dependent on the accommodation only. What acquires greater importance whilst structuring the price for the houses here, is the location, the scenic beauty, value of the land and phase value of the area. Post that comes other factors like amenities and the provisions provided.

Housing Market in South Florida

The South Florida housing market has recorded a growth. The market experts would predict that it’s the start of good times ahead for the market, in spite of the increase in the number of listings in Multiple Listing Service, buying and sales price adjustments and the like.
Factors like high rate of interest have made some people conclude that the Florida housing market is becoming buyer driven. Despite all this, if you intend to sell a home in Florida now, there is nothing to worry in terms of profits and covering of initial costs.

In case you are planning to list your home in South Florida, the first and foremost thing you need to do is get a home inspection done before listing your home for sale. If any repair work is needed, then it is best to address it beforehand.

Florida Housing Options

The Florida housing market, though at the moment is a buyers markets and driven mostly by condominiums has other options too. You can locate a number of single family homes, townhouses, largest estates, apartments, foreclosure homes, flats. There are also options in separate country houses that can be owned as well as rented. The prices though depend on the location and the amenities are reasonable as well as steep. Most of the real estate property is listed in the major realty portals of Florida.