Fort Lauderdale Real Estate

Fort Lauderdale Realtor International President's Premier Award Top One Percent of Coldwell Banker Sales Associates Worldwide

 

Update:  South Florida Sun-Sentinel reported on December 23 2006 that though population growth is slowing on Florida overall, South Florida is still one of the hottest destinations and the population will continue to grow.  The net increase in population in Florida will continue to cause Fort Lauderdale real estate values to rise. 

 

Real Estate Market Dynamics will Benefit Buyers in 2007 Andy Weiser, Realtor December 2006 There is no doubt that the "Fort Lauderdale homes for sale" market has undergone a price correction.  More homes in Fort Lauderdale are on the market and prices are increasing far less dramatically than in the past five years.  That is certainly good news for home buyers in the Ft Lauderdale area. Why has this occurred? Lewis Goodkin, a real estate industry consultant from Miami was quoted in the Sun-Sentinel (February 11, 2006) saying the market is basically a victim of its own success.  House and condominium building and buying, some of it speculative, has exploded in the past five years in South Florida, driving housing prices up at the unsustainable pace of 25% to 30% a year. Will Fort Lauderdale Home prices plummet?  Demand for South Florida real estate will continue as Baby-Boomers move towards retirement and move to Florida.  And there is pent-up demand right here at home that will keep the market active.  Demand for homes and condominiums in Ft Lauderdale and South Florida has been building during the period of escalating prices while very few homes were offered for sale. I expect that prices of Fort Lauderdale houses and condominiums will appreciate at slower and more steady rates that are healthier for the market and more sustainable.  This is comparable to what is happening in other markets like Las Vegas which have seen dramatic growth in recent years.  "We're really coming back to a more normal market," Goodkin said. Prices of homes, and especially condominiums will continue to slide in Miami and West Palm Beach, where experts say the condominium market continues to be overbuilt and new buildings continue to open.  Fort Lauderdale prices are safer because it has not been overbuilt.  Conscientious city government has made sure of that. Why will this help home buyers? More homes are for sale in Fort Lauderdale.  It's a fact.  Far more homes are on the market in all categories and classes.  More private homes, condominiums, and townhomes in every price range are on the market today than last year.  Some real estate speculators who bought homes and condos during the period of rapid price appreciation are ready to negotiate more aggressively as their adjustable-rate mortgages readjust. With more homes on the market and remaining on the market longer, sellers are more eager and buyers have more to choose from.  It is not the seller's market that we have known and buyers are in a better bargaining position than before. More homes on the market  cannot help but have the effect of evening out prices.  Sellers are now actually competing against each other.  Home price increases in 2006 were not nearly as dramatic as they had been in recent years.    Buyers who may have been deterred by 2005's hurricanes or discourage by roofs covered with blue tarps are discovering that their greater negotiating power combined with historically low interest rates makes this a great time to buy. The Sun Sentinel quoted Coral Gables real estate analyst David Dabby saying "A stabilization in prices has occurred.  That doesn't mean that appreciation has stopped in all areas. It hasn't. You're just going to see more modest increases, at best." All of this is good news for home buyers in Fort Lauderdale.  If you have been waiting for the market to slow down and for the selection of homes to expand, this is your opportunity to buy.  Use my Home Finder to tell me exactly what you want in a Fort Lauderdale home, condo or townhouse and I will get back to you right away with a selection of properties for you to consider.

 

Have a question about anything at all related to homes and condos for sale in Fort Lauderdale, Wilton Manors, Oakland Park, Pompano Beach, Imperial Point and the surrounding area? Email me now for a quick response. To find the Fort Lauderdale House For Sale, Condominium or Townhome that meets your needs and budget exactly, use Andy's Homes for sale Search Tool and he will and he will follow up with you soon. And check out our Fort Lauderdale Real Estate Neighborhood Guide   Fort Lauderdale waterfront luxury condo for sale       Fort Lauderdale Waterfront home for sale     Wilton Manors Waterfront Two Bedroom Condo For Sale from Wilton Manors Realtor Wilton Manors Condo for Sale in Popular Manor Grove Victoria Park Condo for Sale    Imperial Point Houses for Sale    Fort Lauderdale Landings Waterfront Home for Sale Coral Shores House for Sale in Fort Lauderdale   Intracoastal Luxury Waterfront Condo Wilton Manors House for Sale   Luxury Condo for sale at Harbourage Lauderdale by the Sea Beachfront Luxury Condo for Sale    Plaza East Beachfront Condo Fort Lauderdale   Boston Real Estate  Homes in South Boston are difficult to find so why not have South Boston realty specialists working on your behalf to buy and sell homes and condos in this prestigious community?