Home Prices Rise - Most in almost 7 years

Source: http://sophiadegroen.com/realestate/wp-content/uploads/2012/06/homespricerise.jpg 

When we say the home prices have risen, it's not a small percentage. Compared with last year in February, home prices in Central Florida saw a rise of 9.3%. This increase hasn't been seen in Central Florida for almost 7 years.

This does not come as a surprise to buyers in today's market searching for a home, only to find themselves in one bidding war after another. With inventory shrinking monthly and a growing number of buyers, there is a limited selection in the amount of homes on the market.

Source: http://www.hollysellsaz.com/briefcase/19709_13201181241AM45174.jpg

Foreclosures are down, bank owned homes are down, and the growing number of traditional sales get swept off the market before even hitting 5 days.

This is a great time for seller's to get back into the game. If your home is in good condition in a desirable neighborhood, it will sell. 

"Steady home price gains can help drive the housing recovery. Higher home prices encourage more people to buy before prices rise further." -Associated Press

Buyers: Don't get discouraged if you get outbid. Your home is out there, it may just take some time. I have great testimonials from buyers that were outbid month after month (this was even after offering over asking price). When we finally bid on the perfect home, they got it.  Hopefully it's sooner rather than later, for the sake of interest and price.

Sellers: This is a great time to sell if you're ready. If you feel like hanging on a little longer, prices will continue to steadily increase.

If you're ready to buy or sell in Central Florida, let me know and I'll be more than happy to assist you!

Happy House Hunting!