As we are in an avid seller's market pretty much nationwide, many families from the high cost of living areas are flocking to Florida for a final destination to live. Mainly cost of living and taxes are lower than where they are currently living, warm weather year round and no State Tax. However many families that are moving here are continuing to pay over asking price for their one time ticket to reside in the State of Florida. The pandemic made a significant difference with many families to relocate all over and work from home.
They say the market is not going to decline any time soon in Central Florida and remain a strong seller's market. Low supply and high demand nationwide makes this a strong and thriving seller's market, especially Florida. Simply there are more buyers than sellers. The sellers advantages are more offers to pick and choose from, higher home values and an average 3-5 days on the market until under an actual executed contract. Renter's are still avid to become homeowners due to rising cost of rent. Reports say the first part of 2023 more homes on the market and prices will drop if not already dropping.
The uprising interest rates a seriously hurting the first time buyers along with the hike in home prices. Rising interest rates can make or break a deal especially for first time buyers. There are options for all buyers to buy rate down at a premium and you must weigh the cost in doing so, and ask you lender many questions to insure you are clear on the decisions that you make. If you are serious stay motivated and energized to buy a home sooner than later based on market predictions. Time kills deals and cost you more in the long run. So stay connected and let's prepare now! Let's act now and contact your local expert realtor in your area before interest rates go even higher. Trust your local home advisor Kevin Strawter at 850 496-6412 or email firstname.lastname@example.org to steer you in the right direction.