GL Homes has  just opened up their newest luxury home development just south of Atlantic Avenue on Lyons Road.  You'll want to check out  their site plans, the award-winning floor plans and get acquainted with the hottest new construction we've see in many years. We have extensive experience with all GL Homes properties so give us a call and see what plan best suits your needs. Read More *

*While we have the permission of GL Homes to introduce you as a potential home purchaser, RE/MAX Services is not an agent or authorized representative of GL Homes or any of its affiliates.  

Throughout many neighborhoods and across all price points, almost one-third to one-half of the available inventory is under contract. This represents a significant year-over-year increase and, if this trend continues, it may stabilize prices in the Tri-County area.  We're even seeing an incredible demand for new construction as evidenced by new projects from many of our local builders. We expect that more listed inventory will become available as demand picks up this year. This will result not only in increased real estate sales activity but perhaps foster economic stability across the Southeast Florida region.

As we approach the last two months of the year, we're seeing some reduction in the number of homes listed for sale and those that are under contract because the market has slowed down since June & July's spike.  Year-to-Date Solds are up significantly because of the low interest rates and incredibly low prices. A recent Sun Sentinel article states that "more jobs, higher wages and a lower unemployment rate are projected for a recovering South Florida in 2012".

While this is positive regional economic news, housing prices will undoubtedly lag behind until job growth creates stronger consumer confidence. Typically, real estate sales increase when consumers feel confident enough to make a major purchase. Appraisers concur that prices will remain flat through 2012. This is a more optimistic outlook than we have seen in years. We expect more foreign buyers will be looking for properties in light of recent European economic problems. Data from the Palm Beach Board of Realtors again points to the stability in the lower to mid-priced market. Properties priced below $500K are outselling more expensive properties almost 10 to 1.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.