Everyone wants to know when the Fort Lauderdale Real Estate Market will bottom and an appreciating market will begin. Real estate analysts have been trying for several years to predict the market bottom, so far with no success. For the past three years I have been of the belief that the housing market will not turn upward until buyers gain confidence. When buyers gain confidence the housing market will turn upwards, it is as simple as that. There are many buyers that are waiting on the fence because they “fear” that prices will continue to fall. When the government realizes that they can do more to stimulate the housing market by energizing buyers confidence in price stability buying and stabilized prices will immediately follow. I have a biking partner that I actually proposed a solution to strengthen buyer confidence, albeit I realize it would be very difficult for the government to grasp my proposal. Here goes, government should guarantee that within 5 years of a home purchase, which is purchased within a defined range of a valid appraisal and then sold in years 5-6, will appraise within 10% of the price of the valid appraisal. Most buyers will accept a 10% variance, it is the “UNKNOWN” that frightens a buyer and prevents them from making their purchase. This will immediately stabilize prices and stimulate buying, which in turn will cost the government and tax payers far less than the billions in stimulus money spent so far. It will also lessen or eliminate many of the short sales and foreclosures that are in our present and shadow inventory.
Want to know exactly when the Fort Lauderdale Housing market will start appreciating? It is simple, traditionally after we experience 4 consecutive months of increased sales and lower inventory, a new trend will be established.
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Fort Lauderdale housing market: when will the real estate market bottom? Many analysts think we are very close to the bottom. Good News: the downside risk is far less than almost any time in the past 20 years. If you would like to discuss this article further call Fort Lauderdale’s leading Sotheby’s International Realty agents, Eileen Kedersha and William Kedersha at 954-561-4100 or email us at: [email protected].
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