This article focuses on Florida’s regional housing markets statistics. Use this resource to pick gems that support positive market momentum in your area.
Numbers that work in your favor
If you looking for statistics that support positive momentum in your local market, you’ll find lots of material specific to Florida at the National Association of Realtors® Web site www.Realtor.org.
For example, check out the 2007 Metro Home Price Analysis Reports. You’ll get insight into the fundamentals and direction of housing markets in 11 regions in Florida, courtesy of NAR’s research division. Read the Executive Summaries for each region, where you can pick from the gems of content data.
You’ll find something positive worth sharing with your clients in each report.
Check it out:
http://www.realtor.org/Research.nsf/pages/
MetroHomePriceAnalysisReports?OpenDocument (password protected and available only to members of NAR)
Learn more about NAR’s research division: http://www.realtor.org/Research.nsf/pages/
customdata?OpenDocument
For an overview of NAR’s customized research projects, visit
http://www.narrealtycheck.com/
Next: Growth, stability and opportunity: All in the Sunshine State
Why It's a Great Time To Buy Real Estate in Florida!
Inventory: Conditions are ideal for buyers to find their dream home. Inventory is plentiful. In Florida’s three largest markets alone, more than 125,000 homes were for sale at year’s end in 2007. Even with these high inventory levels, economists predict that number will go down in 2008 – which, of course, is another great reason to buy now.
Favorable interest rates/reduced prices: Do the math. Lower rates multiply buyers’ financial power, especially now when rates are near a 40-year low. Even one/half of one percentage point difference means a buyer could save more than $1,000 per year on a median-priced home. Buyers get more home for the money, which is a perfect scenario for families looking to upsize.
Ownership trumps renting: While renting may make sense for someone who expects to move in the next year or two, ownership continues to be a wise, long-term investment. Consider these financial benefits: Deductions on your annual income tax return, locked-in payment with a fixed rate mortgage, home price appreciation if you plan to live there for a few years, and a monthly mortgage payment comparable to rent payments. House values in the past decade have risen 88 percent on a national average, according to National Association of Realtor® research.
Talking Points for NAR's "Buy Now" Campaign
Attractive, secure financing options: Having good credit and secured down-payment capital are the most sure-fire ways to get the best mortgage deal. Fixed rates are more affordable, and many federally funded programs are available for first-time homeowners, teachers and police officers. Affordable housing loan programs are back in the picture too.
Financial value to foreign buyers: International buyers benefit from the weaker U.S. dollar, multiplying their purchasing power. Buyers also appreciate the relatively low costs of Florida property compared with similar homes in their countries. According the “2007 NAR Profile of International Home Buying Activity Study,” Florida accounted for 26 percent of all international purchases.
NAR's 2007 Profile of International Home Buying Activity
Location/lifestyle. With the extensive inventories in urban and suburban locales, buyers can live closer to work, schools and rapid transit lines. First-time homebuyers also have many affordable options in the town home and condo markets. And let’s not forget Florida’s climate, world-class beaches, vibrant economy and diverse population.