Is it Time to Buy In South Florida?

According to HomeServices of America, the second largest homeownership-service provider in the US, buying in South Florida is still a good investment, more of a long term one, not a short term flip. For those who want to live in the home they buy, it’s still a good investment as well as a tax break. From 200 to 2005 South Florida housing unit sales were going up in double digits every year and there was a lot of flipping houses. This happened especially in Miami where condos were being built to meet the demands. Then there was more research being put into who actually buys those homes and be credit-worthy, so the real estate market started to crumble.

For those who just wanted to buy at the time to flip and not occupy the house, it has been a terrible investment. Some prices have been corrected in Miami and West Palm Beach by as much as 50%. But, prices, generally are still at the 2002 levels. In Naples, things have been corrected a little. Unit sales have been growing in the past two years and home values have mostly stabilized All My Sons of Jacksonville found out.

It’s definitely still a home buyer’s market with interest rates on 30 year fixed loans being about 4.5% and sellers competing because of the distressed real estate market including foreclosures and home inventory. According to Housingwatch, the forecast is that significant improvement will happen in about a year and a half. South Florida is still a place where people want to move to and migrate to especially to snowbirds buying a second home or retirees that what to live here permanently and have more of a confident financial situation.

If you’re looking to move to Jacksonville, Florida, trust All My Sons of Jacksonville to make the move for you. Our professional and efficient Jacksonville local movers will help you with everything regarding your moving services, from loading their moving truck with your moving boxes to disassembling your furniture and reassembling it in your new home to making sure you’re settled. Our Jacksonville moving website can also help you locate general information on moving including moving tips, moving guides and moving checklists to help you move more smoothly. All My Sons of Jacksonville is backed by four generations of movers so you know you’re in good hands, not to mention we are a licensed and insured moving company.

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