We are seeing the perfect storm for buying real estate brewing.  The Jackie Ellis Team has been in the Boynton Beach and Lake Worth area for 20 years and we have the pulse of this market.  Because times have been challenging, the opportunities in this market have been largely overlooked.  This is creating a tremendous opportunity for buyers that are ready to pull the trigger.  Here are the top indicators that are creating this “perfect storm.” 

  1. Great Prices; our prices are down on average 20% from where they were just last year.  The median home in Florida was $216,000.00 in the fourth quarter of 2008 and was $161,200.00 in December of 2009.
  2. Timing; statewide sales of existing single-family homes were up 13% statewide and as much as 25% right here in Palm Beach County.
  3. High inventory; the number of homes still on the market is still historically high in all price ranges.  This is still putting buyers in the driver’s seat.
  4. Mortgagee rates are at their lowest levels since the 1960’s.  Lower rates multiply buyer’s financial power.  On a $200,000.00 home, ½ of 1 percent can save a homeowner about $815/year.  Buyers can get much more home for the money.
  5. Buying incentives; first-time buyers can get a credit up to $8,000 and other buyers are eligible for a credit of $6,500, as long as they’ve lived in their home for at least five years.  Congress also expanded it to include some buyers who already own homes.  Not many people know that to qualify as a first-time homebuyer, the purchaser cannot have owned a home within the previous three-year period.  However, ownership of a vacation home or rental home does not disqualify the buyer.
  6. Long-tern growth; economists forecast that Florida will be the third most populated state by this year.
  7. Migration and retirement destination, even with the economic slowdown that we have experienced nationally Florida’s population is expected to return to more normal growth levels of about 317,000 a year between 2010 and 2020.  That’s a lot of new buyers coming into the market.
  8. Let’s not forget the tings that have brought so many people to Florida and Boynton Beach in the first place, and will continue to fuel our growth – beautiful beaches, and fabulous weather.  It’s no wonder that Florida’s combination of temperate climate, outstanding recreational amenities and economic opportunity has consistently made Florida one of the most desirable places to live.

 Jackie Ellis has been a licensed Florida Realtor since 1989, active in the Boynton Beach and Lake Worth real estate market.  Jackie operates her sales tem of 10 people (including 3 full time buyer’s specialists) and is consistently ranked #1 in her market place and all of Palm Beach County.

 “Being a Realtor means more than selling homes.  It’s about people, families, and their hopes and dreams.  It’s about a relationship based on trust, knowledge and expertise.  My clients can be assured that I’ll always go that extra mile to make their experience the best they’ve ever had when buying or selling a home.” – Jackie Ellis