To many it seems like it was yesterday when they paced the floor and chewed their nails due to concern over the Fort Lauderdale Real Estate market. Across the country, home values were dropping and the number of foreclosures and short sales were rising. Several Florida markets, were hit hard by the housing crisis, but now the city Fort Lauderdale is considered a top turnaround town. Home sales are rising, and the number of homes for sale is falling, meaning those who are selling have a good chance of doing so faster, while those buying can still get a good price and a low interest rate.
Many people, from lifelong residents to former vacationers who have been won over by the city’s warm weather, coastal beaches, and multiple attractions are seeking to buy a home in Fort Lauderdale.
Forecast-Chart.com, a website that tracks emerging trends for 380 Metropolitan Statistical Areas, ranks the upcoming market for Fort Lauderdale in the top 20%. The organization checks historical data to predict the likelihood of home prices rising with a proven accuracy rating of more than 80%, and Fort Lauderdale is looking good. Both 12 month and 3-year forecast indicates that home values are likely to go up in value at 84% in the next year and 82% over the next 3 years. The median home price for the area is just over $205,000 and values are expected to rise 20% over the next two years.
But besides all the other good news, the Fort Lauderdale Real Estate market is still regaining its sea legs, and this represents a huge for opportunity for investors. Foreclosures and short sales can still be found within the county, that’s why it’s important to work with a trusted Realtor that can guide you through the quirks of the market whether you’re looking to buy or sell your home, and help you identify the best opportunities.
When exploring a segment of real estate with so much potential, it is extremely important to work with a Real Estate Group with a proven track record. For forty years, Remax Realtors are well known for their expertise in a variety of different areas including international sales, retirement communities, distressed homes, and luxury properties. With their extensive training, professional designation, and practical real world skills, within this broker, Henri Frank Group cannot be outdone by any other group of realtors in Fort Lauderdale.