Let's Get REAL Estate

Hello to everyone!

We got some new figures showing that our investors are taking advantage of the market! Last month 63% of sales were CASH sales. There are many reasons for that, of course the biggest reason being low prices...but there is more to it. Especially on condos, financing is almost impossible these days. Condo associations are struggling as well as people so lenders won't approve a sale unless the association is in top financial condition. We are also seeing that lenders are being overly picky with borrowers and appraisers. It's just a difficult time for any kind of financing.

The rental market, on the other hand, is HOT right now. With so many foreclosures, people are having to rent. The current occupancy rate in South Florida is a whopping 95%! Because of the, rental prices have increased 3%-7%.

I know a lot of people think otherwise but we feel that home ownership is still a GREAT investment. The general consensus is that we are at or very close to the bottom and that things will (or are) going to get better. Now is the time to buy! If you are financing, our best advice is to BE PREPARED and start the process with your lender BEFORE you look for property. Know what you have to do to help your credit score (and what NOT TO DO). There is no worse feeling than to find your dream home only to find out you cannot buy it! WE CAN HELP YOU! Give us a call!