BLOG

Florida’s existing home sales up in April

Posted on May 28, 2009

The National Association of Realtors today reported that existing home sales in April rose–the eighth consecutive month with sales increases nationwide! That sounds like a trend to me! Home sales in Florida rose 18%, with a total of 13,111 homes sold statewide compared to 11,133 in April 2008. Condo sales in Florida also rose 21% in April as compared to April last year; and condos rose 6.2% total units over March!

Interest rates for a 30 year fixed rate averaged 4.81% last month, also down significantly from the average rate of 5.92% in April 2008. Yes, we’re qualifying buyers! Anyone telling you that banks are not loaning on homes and condos in Florida hasn’t talked to our mortgage representative, Kelly Rebimbas, Loan Officer at Sunbelt Lending. Call or email Kelly if you have any questions at all concerning mortgages: 239-273-5239 direct or krebimbas@sunbeltlending.com

Florida sale prices decreased 31% in the last 12 months, interest rates are down more than 1%, and inventory is at a 5 year low. If now is not the time to buy, I don’t know when is!

A lot of buyer’s that we are talking to are voicing the following concern:
“I think there may be more room for the market to go down!” What we are telling them is simple…How much more do you think it will go down? -then, Just consider that when making your offer. With inventories down, and the best priced listings selling first, many of today’s buyers might just miss the boat if they don’t decide soon. Fortunes are made in this type of economic climate…the opportunities in Naples Florida are excellent!

For information about today’s best buys in Naples Florida, please call a member of The Harris-Peppe Team today! 239-370-0574 Thank you, and make it a great day!