Waterfront Condos for Sale in Florida
Since the burst of the housing bubble, the nation as a whole has watched real estate values tumble back to the late 80's and early 90's.
Florida, a state heavily dependant on tourism, was one of the hardest hit during the recession.
As the tourism dollars dissipated, unemployment rates began to rise, builders stopped building, developers went bankrupt, and foreclosure filings were reaching the hundreds of thousands.
This sounds like it was Florida's demise, but I have to say that we are still alive and well. We have experienced increased sales volumes, lower inventories, and a stabilization of home values across the state. International buyers who have held out in recent years are once again acquiring properties and statistics now show that more people are moving into the state rather than moving out.
What does it mean for Real Estate?
Real estate, like the stock market, operates in a periodic cycle.
We are once again at the beginning of a cycle.
And if the census data is correct, we may certainly see the housing demand increase.
In summary, today's home prices will most likely be gone tomorrow.
According to the US Census Department, Florida's average decennial population increase over the past 100 years is 39.2%. This means that Florida's 2010 population of 18,801,310 could potentially increase to 26,171,423 by 2020; which is only a little over 6 years away.
Another note to consider is that Florida has historically dominated the population increase percentage in the Southeast during those past 100 years.
Are there still great deals?
Yes and no.
Despite what you may have heard, owners and/or banks are simply not selling waterfront condos for 50 cents on the dollar.
In fact, many are holding off putting their units on the market in order to ride the current cycle upward.
The reality is that prices have stabilized and we are seeing an 8% to 10% increase in value year over year. I anticipate that this percentage is going to continue to climb upward for the next several years; especially after 2016.
Will you help me find a Waterfront Condo?
Absolutely. If you are interested in acquiring a waterfront condo for sale in Florida, I suggest that you preview the current inventory by clicking the "Search Now" button or receive a detailed list of Waterfront Condos For Sale by clicking the "Get the List" button.
Once we narrow in on a few that you like, we can begin investigating items such as the overall condition and maintenance of the unit and common areas, rules and regulations, financial strength (association reserves), governing documents, and recent sales.
When you are ready, give me a call or click here to send me an instant message.
How much will I have to pay you?
Nothing. In Florida, the Seller typically pays the Brokerage Commission at closing.