Real estate websites along Florida’s Gulf Coast are seeing a dramatic increase in traffic indicating a new surge of buyer interest. Local brokers are also reporting an increase in inquiries and sales. There are signs in housing markets around the country that the bottom has been reached, sales have increased and hopefully prices will follow.
CNBC asked the real estate search firm Trulia to look at the rebounding markets and tell us the cities that have seen the greatest rise in searches over the last year. Trulia reported that seven of the ten cities were in Florida and five of the cities were on the Gulf Coast side of the state.
From 2007 to 2008 sales in the Ft. Myers and Cape Coral area were up nearly 80 percent. A realtor in Ft. Myers has suggested that the market crashed so hard and prices have fallen so much that people are now becoming interested in buying. Bargain hunters are being lured by prices that have declined 30 to 50 percent or more from the peak of the market.
Coldwell Banker Real Estate reports that first-time buyers and those seeking deals on their retirement homes are entering the market. Federal incentives, which include an $8000 tax credit, will help first-time buyers.
Now, is a great time to buy, interest rates are at historic lows, prices are down and there’s a lot to choose from with high inventory levels.
For more information about Naples Real Estate, please visit www.DustinBeard.com.