"For people who have been waiting to time their home purchase close to market bottom, it's time to start shopping," said Stan Humphries, Zillow's chief economist.  Bidding wars have returned as buyers compete for a shrinking supply of homes.  Inventories of single-family homes in Palm Beach and Broward counties have fallen in the past year by 38% and 48%, respectively, local Realtor boards say.  (From loansafe.org.)


The Sun-Sentinel interviewed a dozen builders, buyers, analysts, real estate agents and other local housing observers and they agreed that the region has reached a housing floor, despite concern that another wave of bank-owned homes will hit the market.


With prices back to levels last seen in 2002, demand is strong again, particularly from foreign investors and others willing to pay cash.

THE BEST TIME TO BUY IN FLORIDA IS NOW!

“For people who have been waiting to time their home purchase close to market bottom, it’s time to start shopping,” said Stan Humphries, Zillow’s chief economist.  Bidding wars have returned as buyers compete for a shrinking supply of homes. Inventories of single-family homes in Palm Beach and Broward counties have fallen in the past year by 38 percent and 48 percent, respectively, local Realtor boards say.  From loansafe.org.

The Sun Sentinel interviewed a dozen builders, buyers, analysts, real estate agents and other local housing observers, and 10 agreed that the region has reached a housing floor, despite concern that another wave of bank-owned homes will hit the market.  With prices back to levels last seen in 2002, demand is strong again, particularly from foreign investors and others willing to pay cash. 

YES, AT LONG LAST THINGS ARE LOOKING UP!

Palm Beach County Appraiser, Gary Nikolits, says that after three years of falling property values, they are likely to be up “in the single low digits,” in an article in the Palm Beach Post.  This year they are positive by less than 1% (at least heading up).  

The long-term budget plan assumes a 1% climb in fiscal 2012, 2% in fiscal 2014 and 3% each following year during the next decade. In the last three years, there were drops of nearly 1%, 12.4% and 3.4%.  He said, “Two years ago we were at or near the bottom of the market.”

Property tax revenues account for just under $40MM of the town’s $57.8MM operating budget for this fiscal year.