If you have ever been in the market for Florida Real Estate as a primary residence, a second home, a vacation home, or investment property there may never be a better time to buy than now. The conditions that have created this perfect timing have come together for one moment in time and will definitely not last forever.
Here is a summary market report to help you understand how perfect the timing is to get into the market as a buyer today.
The Federal Reserve Bank, in their September meeting announced they would maintain their benchmark rate at 0% for another very short period before raising the rates. This halted and even reversed the upward pressure on mortgage rates lowering the national average to 3.75% for a 30-year mortgage. Fifteen-year rates have fallen to 2.95% and a 5/1 ARM is as low as 2.75%. The Fed meets twice more this year in October and December amid mounting pressure to end their easy money policy so these rates will not last forever.
According to the latest economic predictions home prices in Florida can be expected to rise between 5-6% over the next year with the Orlando and Tampa areas at the highest end of the scale.
In the Horizon West area from the northeast of the Walt Disney World Resort all the way around the west side to the Kissimmee Loop southeast of Disney there is fierce competition among some of the nation’s premier builder/developers making special perks and offers the norm rather than the exception.
There is a wide choice in home styles available at this time with great new communities for private residences and the home of your dreams in the place where dreams come true. There are also communities that are perfect for second or vacation homes featuring resort style living that is maintenance-free and care-free with professionally designed golf courses and stunning water parks. There are also communities perfectly designed for the investor with homes zoned and designed for both long-term and short-term vacation rentals as well as properties in exclusive areas to be held for long-term capital gain. And finally, there are still a few great buys to be had in this area foreclosed or bank-owned properties.
It is not likely these perfect conditions will last for long, so if you are interested, call today. Now is the time to act for all the best options.