FLORIDA MARKET UPDATE...WINTER 2013

 


At Florida Home Finders of Canada we pride ourselves not only on our customer service and delivering outstanding value to our clients at no cost to them, but also on our ability to understand the current market place in Florida. For the past year, Florida Home Finders has been saying that the inventory levels are shrinking and that price appreciation is inevitable. What FHFC predicted is currently happening in Florida as is evidenced by article after article from respected news sources echoing our sentiments. Please read the excerpts below from some of these articles.


Wall Street Journal report...Home Prices Post 12 straight months of increases. Nov. 21,2012
National home values rose by 1.1% in October from September, the largest monthly gain in seven years, according to a report released Wednesday by Zillow, the online real-estate information company. It's the first time housing markets have posted 12 straight monthly gains in the Zillow survey since the housing sector's long slide began in 2006. "We've reached a milestone," said Stan Humphries, Zillow's chief economist. Home values have lifted off of their depressed levels of one year ago for a variety of reasons. Homes are more affordable, particularly after considering how far mortgage rates have fallen, though affordability has been high for a couple of years now. Job growth, while modest, has stayed positive. Inventories have plunged to their lowest levels in a decade, as investors moved in to buy up homes for a steal. There have been more buyers chasing fewer homes, as rising rents, increased household formation, and improving consumer confidence have kicked demand into higher gear. Mr. Humphries says he expects demand to pick up even more next year.


CNN MONEY... Home Building at 4 year high. Nov. 20,2012
The pace of home building rose to its highest level in more than four years in October, according to a government reading issued Tuesday. The Census Bureau report showed builders started construction at an annual pace of 894,000 homes last month, up 3.6% from the pace in September. Economists surveyed by Briefing.com had forecast a slight slowdown in building. "The further rise in housing starts in October confirms that the previous month's very strong gain was not an unsustainable surge," said Paul Diggle, real estate economist with Capital Economics. "It's clear that the homebuilding recovery is gathering a real head of steam." The Federal Reserve's decision to buy $40 billion in mortgages every month is likely to keep rates low for the foreseeable future. The low mortgage rates, coupled with affordable housing prices and an improving jobs market have helped to restart home sales. Foreclosures have fallen to a five-year low, reducing the supply of distressed homes available on the market. And four years of depressed levels of home building have cut the supply of new homes on the market to nearly record lows, according to a separate government report. All these factors have helped to lift home prices and get builders back building again. So this report is just one more sign that the long-awaited housing recovery is taking hold.


Business Insider...Wealthy Foreigners are setting Miami's Real Estate Market on Fire. Nov. 21,2012
Miami's real estate market is not in a bubble according to Douglas Elliman real estate. Instead, it's on the rise, and sits on a solid foundation of cash. The numbers are proof. Home prices were up 21.4% in the third quarter and rose 11.6% in the past year and is a market driven by foreign buyers, according to Miami 's downtown development authority.

Stay tuned for new announcements in 2013 as FHFC hopes to bring you more great communities in Miami, Ft. Lauderdale, Naples, Marco Island, Ft. Myers, Tampa, Orlando, The Keys and other areas that pass our strict criteria for placement on our website. Please note that prices are headed up. Our best advice is not to wait to make your purchase.

Our free Florida home buying seminars will return in mid January. If you haven't been to one, or even if you have, we invite you to come out and learn about the issues that effect Canadians when buying in a foreign country in a relaxed and non selling information session.

Let Florida Home Finders of Canada be your first call if you are looking to purchase real estate in Florida. It would be our pleasure to help you capitalize on this once in a lifetime opportunity to buy an amazing property in Florida, in a great location, at prices that have been discounted by up to 60% or more!

Please feel free to call or email us with any questions you may have. Thank You !


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