Incentives Make Home Buying Easier

South Florida homebuyers are finding the great “buyer's market” more advantageous than they expected because of the very lucrative incentive packages that are being offered by developers and now existing home sellers.  With an excellent inventory of homes on the market, some of the incentives are too good to pass up.  Examples of common perks are:  No homeowners association fees for a year, seller paid closing costs, 100% mortgage financing with no out of pocket expenses, one year appliance and home warranty etc.  With interest rates at very low levels savvy buyers are taking advantage of these sales incentives as well as moderating sales prices.

Research Shows Baby Boomers to Drive Second Home Market

The baby-boom generation won’t own second homes at a higher rate than their senior predecessors, but they’ll own more simply because of their sheer size, according to research released last month.  “Baby boomers are not acting differently form their parents,” said Doug Duncan, chief economist of the Mortgage Bankers Association.  “However, the baby-boom cohort is so large that even if they follow typical buying patterns, they will have significant impacts on many local housing markets.” 

With over 75 million baby-boomers entering their retirement years and many of them (some estimates say one out of four) indicating their desire to move to Florida, the long term real estate market is expected to flourish in the next ten to twenty years.

Job Growth Strong and Expected to Continue in South Florida

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