Home sales drop, prices rise in South Florida prior to Hurricane Irma’s landfall. Total resi sales fell in all three counties last month, with some showing double-digit declines in condo sales. september 20, 2017 06:00PM. Hurricane Irma over South Florida (Credit: NASA)
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Hopefully, value is not the first word that comes to mind when one hears the word home. But even if it is, a house’s price is thought to be relatively stable, shifting on the scale of years, not.
ORLANDO, FL-The latest data from the residential home sales market in Florida was a mixed bag with sales falling more than 6% in January, Single-family home sales sit at a seasonally adjusted annual rate of 4.45 million in December, down from 4.71 million in November, but is 10.1 percent below the 4.95 million sales pace from a year.
New home sales in the U.S. lost steam in December but wrapped up a solid year in a segment of the housing market that has faced tight inventory and fast-rising prices..
Airbnb Rentals Make Mortgage Refinancing Easier – Brite Homes Florida There are plenty of reasons people refinance their homes. For some, it’s to get a better interest rate and bring their monthly mortgage payments down. Refinancing saves an average of $3,100 per year on mortgage payments. For others, especially those enjoying a steady income from Airbnb rentals, the refinance frees up cash to make home improvements.
Total property listings have risen 4.8% in the last month, and are up 3.5% from last year according to the Florida Realtors Association. Listing prices are down 19% for the 100k to $150k home price range while up 17% for the $300 to $400k home price range and up16.7% for homes above $1 million.
This is exactly what they were saying right up to the last day before the florida real estate bubble popped and home prices proceeded to drop 60% on average. When this current bubble pops, prices will likely drop the most in neighborhoods where homes are occupied mainly by people who bought to live in Florida full-time.
It’s Official: 2016 Was The Best Year for Existing Home Sales in a Decade.. Single-family homes were going for a median $233,500 in December. That was a 1% drop from November, but a 3.8% rise.
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Q) Is Now the Time to Buy Real Estate in Florida? A) No, In My Opinion It is Not a Good Time to Buy a Home in Florida. Why? It’s still a seller’s market, so buyers are paying more than they need to.; Prices won’t be going much higher, much longer, so if you can wait you will be better off.