Wednesday, October 9, 2013
Broward County Home Sales
Broward County is one of the most desirable places to live in the country, home to some of the most popular cities such as Fort Lauderdale, with some of the most stunning south Florida homes. Since the housing market in south Florida spiraled out of control, the only way to go has been up. Broward County home sales are finally starting to return to normalcy, and Broward County home sellers are taking less of a loss on their home sales. This new pattern of Broward County home sales indicates that the market is taking a turn for the better, according to Broward County real estate experts. This new pattern of Broward County homes being sold for a profit can be attributed to the investors that have been purchasing investment property in south Florida to renovate and re-sell to traditional home-buyers. Prices for Broward County homes have been steadily increasing throughout the past year approximately 26% to the current median price of $270,500, and are theorized to be comparable median prices on homes for sale in 2008. While there are still homes for sale in Broward County that are worth less than the current mortgages, this rise in home sale prices has provided restoration to lost equity, and allowed some apprehensive current owners the confidence to finally sell their homes. Individual investors receive some of the credit for this revitalization of the Broward County real estate market, but large investment firms deserve a significant amount of credit as well. These large investors have been purchasing Broward County properties in bulk to utilize as rental property, and due to this trend competition has been at an all-time high since these companies are overpaying for Broward County homes. According to certain housing analysts, this competitive trend is projected to continue to pump up the Broward County real estate market, which can only mean good things for realtors and sellers.