The holiday decorations are down; children returned to school; your January social calendar looks refreshingly clear, especially when compared to the previous two months. Now that you’ve had time to take a breath, now what? One suggestion is to put some serious thought into acting on your financial New Year’s resolutions – especially those dealing with your Fort Lauderdale real estate plans.
Our New Year’s prediction, one we share with real estate watchers, is 2013 is the year buyers and sellers are going to really get serious about real estate.
According to numerous trusted news outlets, including CNN Money Magazine, the housing market rebound is here. Among other sources, they site the Mortgage Bankers Association forecast that “more and more house hunters will start coming off the sidelines, with new-home loans for purchases expected to jump 55 percent, based in dollars, in 2013.”
For almost five years, Fort Lauderdale homeowners weathered the storm of the credit crisis as well as could be expected; then came marked improvement in 2012. At last count, there were approximately 1.8 million homes for sale nationwide (half the number at the market’s lowest point). The latest Fort Lauderdale housing market numbers reflect a deep shortage of homes listed for sale, compared to demand. What was once a buyer’s market is transitioning into a seller’s market.
While no one expects real estate prices to see double-digit home value increases in 2013, it is encouraging to see the worst in the rear-view mirror. And with optimism about residential real estate now broadening into general public awareness, we seem to be looking at a fresh arena for Fort Lauderdale homeowners who are finally able to consider selling again, and for buyers who are past waiting for ‘the bottom’.
The message to prospective Fort Lauderdale home buyers and sellers this January echoes the sentiment of CNN Money Magazine, which answered the question, “Why, as a prospective home seller or buyer, you need to stop sitting on your hands”!
In the video clip below, courtesy of Money Magazine, the Opiela family experiences the market transition from a buyer’s market to a seller’s market. Plus, Mark Zandi, Chief Economist at Moody’s Analytics weighs in on the housing market. Moody’s Analytics is a trusted, leading independent provider of global economic analysis, data, forecasting and credit risk management.
(video playback requires Flash)
Are you ready to kick-start your New Year by attending to your Fort Lauderdale real estate goals? We can help! Contact us so we can start working for you.