How Is Florida Doing in the Real Estate Market?The housing market is recovering according to many. Home price indexes for 38 states ended 2011 above their early-year lows. The Federal Housing Finance Agency states that in 30 states, home prices “had more than two quarters of growth under their belts.” However the national index is being dragged down by falling home prices in specific hard-hit states. These include Arizona, California, Michigan, Nevada and Florida, home of the local West Palm Beach movers. Home prices in these states have dropped by more than 50% from their 2006 levels and now encompass 46% of the inventory that’s working through the foreclosure process.
The All My Sons of West Palm Beach movers found out that many experts feel the pace of a state’s housing recovery depends on how it handles the foreclosure process. 24 states require judicial review, where a judge has to sign off before a house is transferred to a lender. In those states, the foreclosure backlog is 2.6 times larger than the ones who don’t require a judicial review. The local West Palm Beach movers also found out that homes are selling significantly faster in non-judicial states. In some instances, some of these states are even experiencing an increase in home prices.
In Florida, home to the local West Palm Beach moving specialists, it takes an average of 806 days to complete a foreclosure, partly because it’s a state that requires a judicial review. Arizona doesn’t require one and so foreclosures take about 200 days to finalize. As a result things are looking up, with Phoenix home prices going up about 2.7%. In Florida, prices are still dropping.
This might be a good time to move to Florida, with lower home prices not to mention the sun and beaches. For a professional move, just contact the local All My Sons of West Palm Beach moving team to help you with reliable moving services. We’ll quilt pad wrap your furniture and help you with assembling some of your personal belongings so you can get settled in no time. The local West Palm Beach movers are part of the All My Sons Moving and Storage network and backed by four generations of professional movers. All My Sons of West Palm Beach can help you score great moving supplies, moving kits and moving boxes to make your entire moving experience easy and hassle-free. So when you’re ready, call the West Palm Beach moving team.