It's been a pretty long time since I've visited my blog, and quite frankly I feel pretty darn guilty about it. With so much happening in the real estate industry it's hard to fathom that I should have writers block. Oh how fortunes have changed in such a short period of time! Home sellers are now back in the driver's seat, and multiple offer scenarios for well-priced homes are once again the norm.
So are we creating another bubble? Depends on who you ask actually. My observations are as follows: 2013, particularly the summer, was crazy. There was just so much demand and so little supply that most areas in South Florida saw double digit price increases over 2012. Then, as has been the historical case, things slowed down in the last quarter. However January 2014 is off and running! This year will continued to see, albeit tempered, price appreciation in most markets. Why tempered? Well, for starters interest rates will continue to gradually rise as the Federal Reserve begins to curtail its purchase of mortgage backed securities. Additionally, a fair amount of the new developer inventory is beginning to come online thereby absorbing some of the demand for housing. As for buying opportunities, they're still certainly out there though get ready to "fight" for them; there's no room for low-ballers or week long negotiations in this market. Remember that time is the enemy of all real estate deals. Highest and best is the order of the day!
Until nest time; thank you for reading!
