We've seen new assignments [regarding foreclosures] from the banks. Just based on the amount of new assignments I've seen, I believe that they're preparing for a good selling season this winter and into the spring season.
Boca Raton, FL (PRWEB) December 10, 2014
As one of the areas hit hardest by the recession a few years back, the South Florida real estate market has made a resounding comeback with its recovery efforts among the best of the metro areas in the nation. Although some still consider the housing market in this area to be troubled, the experts in the industry feel differently. Haggerty Real Estate Services, which deals mostly with foreclosed homes in South Palm Beach and North Brower Counties, is pleased with the current state of the market and has a positive outlook for the future of the market.
"We've seen new assignments [regarding foreclosures] from the banks. Just based on the amount of new assignments I've seen, I believe that they're preparing for a good selling season this winter and into the spring season. I think we've got a good thing going here," said Brian Haggerty, a broker at Haggerty Real Estate Services.
Freddie Mac's recent Mulit-indicator Market Index report put Palm Beach, Broward and Miami-Dade counties in third place for overall annual increases in the housing market with a score of 69.9 for the month of September, according to the Sun Sentinel's Nov. 26, 2014 article. The report ranked local housing markets based on housing applications, housing affordability, mortgage delinquencies and employment, with 100 being the perfect score. Areas that scored below an 80 are considered weak.
Despite being under 80 on the scale, South Florida has shown significant gains in the real estate market. The experts at Haggerty Real Estate Services say foreign investors and retirees from the north played a big role in the improvements seen over the past year.
"We have a lot of foreign money that comes into the area. We have a lot of people from South America and Europe that purchase, in cash, homes all of sizes and conditions," Haggerty explained. He also added that retirees from New York, New Jersey, Connecticut and Pennsylvania have consistently supported the real estate economy in South Florida.
Haggerty is confident that prices will continue to increase, so long as the economy continues to grow, making an ideal environment for those looking to sell their homes.
About Haggerty Real Estate Services
Haggerty Real Estate Services, located in Boca Raton, has extensive experience selling commercial and residential real estate in the local area. To learn more about what the team has to offer, visit haggertysellsboca.com