Florida Realtors has put together this infographic on one way to predict the future of real estate. While this is oversimplified, it does capture the basics of supply and demand. If you have more questions about today’s market, reach out any time.
It may seem like rooftop solar should be a no-brainer in Florida; however, it really isn’t that simple. I know several people who have moved from the northeast where they had rooftop solar. With all of the extra sunshine in our state, it would seem that if it worked there, it should work here. Unfortunately, it is not that simple. Most of the time, state sponsored incentives made solar economically viable in their last home. Without the incentives, the financial benefits just wouldn’t materialize. Those incentives just don’t exist to the same level in Florida. The infographic below from Florida Realtors shows some starting questions to ask here before you make a decision.
We have just experienced the largest three-week drop in mortgage rates in 14 years. The rate reduction appears to be signaling that the Federal Reserve will slow its pace of short-term interest rate hikes. That said, the reduction in rates has not yet increased the number of mortgage applications. Rather, they continue to decline.
If you are thinking about one, here are some useful tips from Florida Realtors.
New listings are moving in tandem with closed sales in Sarasota County. As both are shifting down, the median sales price has continued to rise materially year on year. While the three months of inventory in available homes looks great when compared to 2021; it still is lower than we would like for market balance. We are seeing sellers give some concessions in this market; however, buyers shouldn’t be expecting material “bargains” based on the transaction results to date. The infographic from Florida Realtors below has the latest details.
