Recently Broward County, Florida has experienced an increase in the confidence in the real estate market, with a strong buyers market and the prices trending downwards. Currently, the average price of a single family home is approximately $300,000, while condominium units and town homes start at below $100,000. There are many foreclosed properties that tend to sell at very reasonable prices.
Broward County is experiencing sales cycles that are more active in transactions that involve single family properties being purchased mostly by first time home buyers. On the other hand, the condo market seems to be moving to second home and buyers purchasing for investment purposes. Also, there are many low end rehab projects being purchased and resold. On the down side, there is a lower level of distressed inventory than Broward County has experienced in recent years, mostly as a result of the moratorium some lenders have placed on the foreclosure process. Therefore, re-habbers are able to turn properties fairly quickly at this time. The overall movement of the current inventory seems to have slowed dramatically.
Prices on ocean access and waterfront homes in Broward County have seen decreases and are now much more affordable, and there are plenty of options which include golf and tennis as amenities. Broward County offers the best of South Florida and is also known as the “Venice of America,” due to the extensive network of waterways and channels. The area features top schools, theater and cultural attractions and quick access to area sporting events.
No comments:
Post a Comment