Hey, You, Get Off of My Cloud – someone cue the Rolling Stones.
What if I told you the cloud is lifting and the Florida winter is behind us and many home buyers are seeing the sunshine and looking for a new home in 2019.
Let me share with you some reasons I see this and it starts with the fact with all my experience I can see through the clouds.
While real estate conditions can vary from one market to the next, 2019 could actually be a great year to buy a home.
4 Reasons Why it Could Be a Good Year to Buy
In 2019, home buyers here in Florida will have more properties to choose from, thanks to inventory growth over the past year. We’re also staring the year with historically low mortgage rates.
1.Lending has gotten less restrictive, you know looser.
2.Price reductions are more common among sellers.
A few years ago, a person selling a home in a hot real estate market would have buyers lining up with offers above the asking price. But those days appear to be behind us. In fact, 2019 could be the “year of the price reduction” here in the Florida real estate market.].
3. Home buyers have more negotiating leverage these days.
Homes are sitting on the market longer, and sellers appear to be more motivated to attract buyers. There’s a general sense that the real estate market is cooling, and there’s plenty of data to support that. How do you spell leverage? L.E.V.E.R.A.G.E.
Home buyers in 2019 could have more negotiating leverage than those who purchased over the past few years.
4. The unemployment rate is down.
A strong job market gives home buyers the financial means needed to make a purchase, and to keep up with their monthly mortgage payments. It also instills a sense of confidence. And there is good news on this front as well.
The nation’s jobless rate has dropped steadily over the past ten years or so. As of November 2019, the U.S. unemployment rate was down to 3.7%. That’s the lowest it has been in years. (Let’s not forget that unemployment shot up to 10% in 2009, following the Great Recession.) In November 2018 alone, the U.S. economy added 155,000 jobs.
So, there you have them, four reasons why 2019 could be a good year to buy a home in the here in the sunshine state of Florida.
At the end of the day I am the man you want to talk to about starting down the road of home ownership. Give me a call at 813-361-6350, I will share with you the facts because the clouds are lifting and the sun is shining.