With condo inventory SOARING here in Florida In the last 20 months, you may be able to buy RIGHT NOW at the lowest price you will see in a long time to come
- $187,000 is median price for a Florida condo (per NAR)
- Median price is down 9% from one year ago
- Number of condos sold down 29% from one year ago
- Florida brings in more than 300,000 new residents per year (2nd only to Texas)
Investors have started to GRAB GOOD DEALS while they can in this buyer’s market. The bad news for sellers means good news and opportunity for savvy buyers. Builders are making contributions to sweeten deals in the Florida condo market.
… I did predict there would be big changes what with a national election looming up… - A one-time $100-BB tax rebate and tax incentives for employers to hire more workers
- Temporary cut in corporate income taxes
- Emergency assistance for owners who need extra money to help with high heating bills this winter
- Proposals to expand loan modifications and payment relief for borrowers heading for serious delinquency or foreclosure
- Widening “rate freeze” mortgage relief programs beyond just sub-prime borrowers to ALL borrowers, including those with prime credit, who find themselves in trouble on their mortgages
- $MM’s for new assistance for local nonprofit counseling groups who reach out and guide mortgage borrowers in danger of losing their homes
- Federal Tax Code amendment allowing state & local housing agencies to issue tax-exempt bonds to refinance loans of troubled homeowners (not just assisting new home purchasers) at low, fixed rates
Moratorium on foreclosures nationwide and legislative amendment allowing bankruptcy court judges to unilaterally reduce homeowners’ mortgage debts to lenders… BUT there is non-acceptance for these two issues from bankers and the mortgage industry
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With condo inventory SOARING here in Florida In the last 20 months, you may be able to buy RIGHT NOW at the lowest price you will see in a long time to come
