Time for a Florida Home Loan, Or Not?

South Florida in general remains in an economic slowdown, foreclosures are still coming,  and, new home building is close to a stand still.  So is it really time to buy and get a new HOME LOAN?   We are seeing a pickup interest from a wide variety of clients, be it Foreign National buyers to First (1st) time home buyers, all are expressing interest in the S. Florida market.

With an average temperature these last few weeks around 76′ in the day, little rain, and minimual humidity, it has been an idea time to be in S. Florida, enjoy the outdoors, and, just enjoy the fantastic weather.  When compared to many other parts of the US at this time of the year, if you can work and live in such a climate, why not?  That coupled with the many shows and outdoor activities, why not be here?

So, how are home sales and home loans doing?  The exisiting home sales in state ended up 4% in December, on a year-to-year basis, while the median home price fell 5% during that time.  However, the month-to-month, the Florida Association of Realtors found the median home price rose to $133,100 from $132,000.  Not much of a change, but, now the prices are going in the right direction for sellers looking for improvement, and for buyers still looking for a good deal.

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