Parkland and South Florida home prices increased in December 2012 ending the year on a strong note. Many short sales and foreclosures came on and off the market causing a decrease in the overall real estate inventory. As a result, sellers regained confidence in the housing market, as buyer demand and confidence grows into 2013.
The Sun-Sentinel reported that, “In Broward County, the median price rose 21 percent in December to $230,000, according to the Greater Fort Lauderdale Realtors. The median means half sold for more, half for less.” This is exciting news for the overall real estate market in the City of Parkland and the rest of South Florida. Buyers are now leaping off the real estate fence to take advantage of low mortgage interest rates, affordability, and achieving the American dream of home ownership.
I was quoted in the Sun-Sentinel article discussing how the buyer activity has dramatically increased due to the lack of home inventory and a larger pool of motivated buyers in today’s market.”
Michael Citron, an agent in Palm Beach and Broward counties, said some buyers are so frustrated by the lack of inventory that they’re pursuing properties on their own, often bringing him what turn out to be expired listings from websites. When buyers do find homes, they have to act quickly.”They have to be very, very aggressive,” Citron said. “I can barely let a client think about it overnight or they’ll lose it tomorrow. It’s not a warm and fuzzy feeling buying a house now.”
If homes are priced appropriately and are in good condition, they are selling very quickly and for top market dollar. Buyers are willing to pay a premium, as the competition for homes is growing in our marketplace. If you are currently looking for a home, be prepared. Make sure that you are fully qualified for a mortgage and are ready to submit a strong offer on a home right after you see it, as time is of the essence! If you do not have your ducks in a row, you may just loose out on your dream home!
If you are thinking about buying a home in Parkland or South Florida, please give us a call at: 954-609-0591 or contact us. We will help guide you throughout the entire buying process and make your buying experience an enjoyable one.
The Parkland Parrot is the most comprehensive online resource for Parkland real estate information. Whether you are looking for the latest sales, trends or homes for sale in Parkland, Florida, The Parkland Parrot has it all at your fingertips. Know the neighborhood. Know the value. Know your hometown agents: The Parkland Parrot Real Estate Team.
To stay updated with all Parkland real estate information, receive our blog posts via email by subscribing here. After registering, you must activate the subscription in a follow-up email.