Home prices dropping demographically over the country the first quarter of 2023, many locations are showing signs up to fifteen percent. Dr Phillips and the Central Florida area is showing signs up to a least five percent, this is due to the Disney Theme Parks that draws many families from all over the world keeping home values from not a significant drop. The federal government continually raising the interest rates to tame inflation that was out of control after the pandemic in 2020. This all makes sense because the higher the interest rates are, affordability of housing shrinks for many home buyers. This forces sellers to reduce listing price of home and builders to trim down in areas where they see fit. Keep in mind politics play a vital part in the world economics. Keep in mind the interest rates should be a stabilizing in a few years. My saying is marry the home and date the rate. Ask me what that means.
This has definitely created a serious cooling housing market across the nation. Initially it was called a softening housing market. This is a true test for new buyers to be committed to saving money and strengthen credit to be in a better position once things get back to the normality. There are plans for several more rounds after they sit back to see the results two to three months after analyzing the decision made to make the next move. The good news it seems to be the worst is over. Also we need to realize that we are going back to the norm. Interest rates stabilized at seven percent in the 2000's and home prices were compatible to purchase homes with no issues. That is not the case right now as we have been residing in an unbalanced housing market. Find a trusted advisor as myself to guide you through this process.
As a trusted advisor professional realtor and retired military veteran, I am here to serve you and always on the pulse of the housing market for the Dr Phillips and Central Florida area. Always stay in tuned, educated and connected in this volatile housing market to purchase or for the sale of your home. In the absence of trustworthy up to date information, real estate decisions are increasingly being driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community and always preaching the truth of real estate. I emphasize that education is a must for the community to ensure you are making the right decision. So don't let this shifting housing market delay your dreams, data reveals that homes typically appreciate over time and that gives your net wort a nice boost. If you are ready to start your journey contact me today at 850 496-6412 to help begin a new walk to home ownership and all of your real estate needs.