The last 3 years I was head on correct on my predictions. Let’s go for 4 for 4. That’s a lot of 4’s!
Housing Price Increases –
The Economy is still continuing to improve and people are looking to experience the “American Dream” of owning a home again. The current inventory is smaller than the demand creating a shortage of available product. Prices will increase but not to the levels of 10 years ago creating an unreal market. There will only be a small increase maybe to 3% above the current prices.
New Construction on the Rise –
Again, the low inventory is a signal for Builders to re-open communities that sat for several years. In my area, there is a 1000% increase on the number of building permits being issues. Don’t go crazy, this means that the number of permits may have gone from 6 to 58 but it is still good news.
Time to Buy –
The Mortgage Interest Rates have been low for several years but my friends in the Mortgage Industry tell me the end may be near. Economic factors will cause an increase in current mortgage rates. If interested in buying a home, now is definitely better than later before rates climb.
Florida is on the verge of the largest exchange in money due to the immigration of Baby Boomers over the next few years. Boomers are flocking to Florida stimulating home sales as well as the entire economy of Florida. Investment properties are still available especially in the areas of multi-family and Independent Living communities.
In summation, 2016 looks great for the Real Estate Market. Whether a Buyer, a Seller, a Renter or a re-located family, our office has the program for you. Meet us in SW Florida!