Vero Beach, FL (PRWEB) January 03, 2013
An improved job market has led to a boost in home buying resulting in a lower inventory of homes and slightly rising prices.
In December 2012, housing prices rose in 109 of the 384 metro areas tracked by the data firm CoreLogic. However "The market won't suddenly snap back," warns CoreLogic economist Sam Khater.
According to a consensus of analysts tallied by Moody's Economy.com, as the final wave of foreclosures from the real estate slump hits the market, prices should inch up 2% in 2013 and 3% in 2014. However, lenders have tightened risk requirements resulting in many sellers competing for a limited supply of cash buyers. In today’s market, buyers are slow to make an offer and are more conscious about over paying for a home.
Housing starts have risen in the last 3 months and are expected to exceed 715,000 units in 2013, but this falls seriously short of the 2.1 million starts in 2005.
If a seller purchased real estate during the peak of the market and needs to sell a home as soon as possible, he or she may need to face the possibility that they will lose money on their initial investment. However, the loss can be deferred if that seller needs to repurchase a home at today’s deflated prices.
Linda Schlitt Gonzalez is broker/co-owner of family owned and operated Coldwell Banker Paradise (http://www.FLColdwellBanker.com) which has been in business for over 60 years and has 9 offices spanning approximately 100 miles along Florida’s Space and Treasure Coast.
Linda advises, “There is no perfect time to sell your home. At the slow rate that housing prices are rising, it is not going to be cost effective to wait to sell a home in hopes that peak prices will return anytime soon. The smartest move would be to look at comparable sales of houses or condos surrounding your home, price your home accordingly, and move on. The best person to guide you is a real estate professional who understands the local market where your home is situated.”
Contact a real estate professional to guide you with the sale of your Port St. Lucie real estate, Ft. Pierce real estate, Vero Beach real estate, Sebastian real estate, Melbourne Florida real estate, and commercial real estate in Brevard County, Indian River County, and St. Lucie County. Browse our website at http://www.FLColdwellBanker.com for information regarding the local cities, to check prices on homes similar to yours, and to search hundreds of listings. To speak with a Coldwell Banker Paradise expert, telephone us at 772-231-4880.
About the company:
Coldwell Banker Paradise has grown to span 100 miles along Florida’s Space and Treasure Coast selling Port St. Lucie real estate, Fort Pierce real estate, North and South Hutchinson Island real estate, Vero Beach real estate, Sebastian real estate, and Melbourne, FL real estate.