02/02/2023
🏡 Real estate in South Florida remains strong and 2023 is shaping up to be another great year! 💰
According to CBSNews, housing prices may have dropped in other parts of the country, but not here!
🌴 Jim Matz just sold his oceanfront condo and is now on the hunt for a house in Broward county.
He's noticed a change, with more homes on the market and prices that have gone down.
🔍 On a recent tour of a Fort Lauderdale home in Coral Ridge, Jim saw that the asking price was $1.2 million, compared to a similar home across the street that sold for $1.7 million last year.
👂According to Realtor Sara Regensdorf, prices are down but some homes are still being sold at or above the asking price if priced right.
Another trend she's seen this year is that financing is being considered, with flexible terms and lower interest rates for those with good credit.
💰 Senior loan officer Michele Smith says that good credit can even get you a mortgage below 6%.🏠
Despite the great news, there's still a shortage of affordable housing in South Florida, with a lot of new inventory being higher-end homes priced over $1 million.
However, the Florida Hometown Heroes Program, offering home-buying incentives for police, fire and teachers, is still available. 💪🙏
Jim is optimistic he'll find his dream home, but he doesn't want to overpay and lose money if the market drops. He's being smart about his investment! 💡
Sourcing: CBS News
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