There comes a time when we begin to feel like it may be time to sell our home. Are the prices peaking? What is the actual value of my home? What type of a home could I get next? These are just a few of the things we all consider right before making the decision. That is, if we have a choice.
Sales are up in Central Florida.
The number of homes for sale is also on the way up. What many people are not considering is a large percentage of the sales are new construction. Most people are wanting a newer if not new home for sale. Look around your area. Is there land available for new homes to be built on? If so you can bet someone else like DR Horton or another home builder knows about it also. If you have an older home it is possibly a great time to sell because it will only get older. It is unlikely you will get your money back from an extensive remodel. Especially if your community is filled with homes which do not follow suit.
There are two distinct forces that stop free money. Nature and math. People are used to ultra low interest rates and will be shocked when things return to normal and they will return to normal. Another way to look at 2% interest rates is this. The rates are 2% because people cant afford to buy if they are 3%. When rates go up and they will, buying will slow and prices will adjust downward to tempt those hesitant buyers.
Although we will always have this virus floating around the world will figure it out and adjust accordingly. People will eventually insist that thing become more normal. When the people force their will the governments will appease them. When they do the flood of people to Florida "may" slow.
As we have just seen some of the more draconian politicians will be voted out. it doesn't matter if they were right to enforce all of those measures or not people will still vote them out. Winston Churchill was voted out of office and he was one of the greatest leaders in history. When those who are power hungry get voted out people are more content to stay in northern states. Thus less people will be flocking to the sanity of Florida and this will have an effect on pricing.
Right now the supply chain has been affected negatively and many things needed for homes are hard to get. This has driven up prices for remodeling and new construction. Most likely there will be an over adjustment on the other side and to much will be available. There will be many new subcontractors and home builders come into the business because of the available money. When things dry out their prices will fall in order to keep business. It always happens
Please keep in mind these are only the opinions of a experienced Realtor who is nearly 60 year sold. I lived through higher interest rates, housing crashes and many other things. I am also very pro long term home ownership. The difference is recovery time may not be available for everyone who owns a home. If You Are Considering Selling Contact Us. If you opt for leasing your home we can assist with that as well. Wendy Morris Realty is a full service real estate company.