Rising Homes Prices, Competition Cause Problems For Florida Bound Retirees
SARASOTA, March 10, 2005 -- With over 1000 people moving to Florida every day, competition for resources can be intense. Many new residents are stunned to learn how difficult it can be to buy a home. Not to mention how pricey.
Burke Myers never saw it coming. After years of planning and dreaming, he finally retired to Florida. “We thought we were prepared,” said Myers. “We never imagined that buying a little condo near the beach could turn into a contact sport.”
It’s a shock to many who haven’t kept up with the Florida market. In popular areas, it is not uncommon for homes to go under contract the day they are listed. Many never even make it to the local Multiple Listing Service (MLS), as realtors have clients on standby, ready to pounce on new listings.
Rising prices combined with low interest rates have resulted in a wealth of buyers ready to move before prices escalate even further. The state’s median home price of $109,200 in January 2000 has risen to $204,900 (January 2005) according to the Florida Association of Realtors. In many waterfront or beach communities, property values have tripled during that same time period.
But a new web site has been established by Myers to help home buyers get ahead of the competition. RetireToFlorida.net is designed to acquaint new residents with the specific ins and outs of the Florida real estate market.
According to Myers, “Often, people hesitate to make an offer on a home, because they are confronted with a situation or construction issue they are not familiar with. They decide to do a little research, and meanwhile someone else makes a successful bid on the property.”
The very best preparation is prior knowledge of the real estate market. Having bought and sold numerous single-family Florida homes in the last 5 years, Myers shares what he has learned on the new web site.
For more information on how you can prepare to enter the Florida home buyers market, visit www.RetireToFlorida.net
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