I guess from reading my posts it may seem that I enjoy every news report about Florida's slumping real estate market that is released. As a resident of Florida, I am saddened by the State's economic woes, it affects every one of us when unemployment keeps rising, services are being cut in every sector and home prices continue to spiral downward.
But, as a Realtor focused on helping buyers, I do see the current economic trends as a huge opportunity. May of my buyers who are purchasing second homes in Florida would have held off buying for 5 - 10 years because they feel they are still quite a way off retirement age to be able to utilize a second home to the fullest extent possible. With prices so low though, they really feel that they cannot miss out by waiting and are diving in and grabbing real bargains.
A recent Survey by USA TODAY showed that eight in 10 economists surveyed have downgraded their economic outlook amid the European debt crisis and a flurry of disappointing reports, but nearly all expect the nation to avoid a double-dip recession. The quarterly forecast, conducted July 15-21, was decidedly gloomier than April, when the recovery was gaining steam and most experts were ratcheting up their estimates. The area of greatest concern is jobs, most ecenomists don't believe we'll see new job creation at a sufficient level to balance the jobs lost until 2014.
Bottom line is that until the economy improves housing prices will remain low and buyers with cash will continue to find real bargains.
The economic downtown is great news for some. If you are considering the purchase of real estate, this could be the best time ever.
Call me:
Tali Wolder
561-866-9372
http://www.talisellsflorida.com/
tali@floridianinternational.com
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