Some consider this current situation very
similar to the 1960s and they have plenty of reasons to do so. Back then you
could finance a two-bedroom house for $6,999. 10 years later, a typical Florida
house was approximately $15,000. Through inflation alone, that home would have
cost about $32,000 by 1980. But, in fact, a typical Florida home sold for about
$45,000 by 1980. It was much the same story during the 1990s. If home prices
followed inflation, your typical house would have cost $66,500 at the end of
the decade. But in 2000, Florida homes were valued at $105,500. The decade
produced home appreciation 59 percent above inflation. Moving on to the
present, a 3 bedroom/2 bathroom house in Lehigh Acres is just $31,000. If you
wanted to purchase the same house a few years ago, it would probably have had a
price of more than $50,000.
Although this is terrible news for sellers, we
cannot hide the fact that this is great piece of information for potential
buyers. Speaking of, the number of people that want to buy a house in Lehigh
Acres and in all Florida is very generous. There are logical reasons for this situation
as the Sunshine State offers great weather through the entire year, nice
beaches, friendly neighborhood and many more. As far as the entire state is
concerned, home prices have fallen about 20 percent in the past year and this
trend will continue in 2011.
Speaking of the 1960s, the actual mortgage
rates are easily comparable to those times which mean that the potential home
buyer has a much stronger financial power. Even the smallest percentage can
make a crucial difference. For example, a $100,000 home in Florida, a half of
1% could save the home owner almost $500 per year; it is not much it's
something. Buyers can get more home for the money, which is a perfect scenario
for families looking to upsize.
Sale numbers are quite high, despite the
current lockdown in the national real estate situation, which means that the
inventory levels are dropping slowly, but surely. Real estate experts affirm
that now it is the ideal time to purchase a home because prices will most
likely start to rise again in the years to come, even though they will not
reach the 2005-2006 prices which were overinflated anyway. This recommendation
is for families that are looking to buy a new home; for people thinking of
retiring and of course, for investors that have a few money saved for such
special occasions - an opportunity to make a fortune in the years to come when
prices will go up again.
Florida has a lot to offer to its inhabitants
- it has a very strong economy, especially in healthcare and technology
sectors. From a more social point of view, it is a great place for kids being a
very peaceful neighborhood and offers very good schools. We will let you
discover other benefits of living here after you purchase your very own home in
the Sunshine State.
About The Author :-
Florida’s first and only statewide,
full service medical real estate company. A highly focused and
specialized team of investment, marketing, leasing and management professionals
at your full disposal so you can focus on what matters most. Physicians,
hospital administrators, healthcare executives, landlords and investors can
depend on FMS for expert guidance in all real estate matters. Call one of
our advisors today for a free analysis of your situation.
Address :-
Florida Medspace
Pompano Beach, FL 33065
Telephone: (954)346-8200
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