Real Estate Valuable Properties in Florida
Condos. Just the word signifies the high life. A condo overlooking the beach in Key West, or a condo in a high rise in Miami. These are views of those with wealth, those with the means to acquire a condo that likely fetches prices of hundreds of thousands or over a million dollars. These condos are prime real estate. And many want to purchase them.
Real estate is becoming more popular now. Just years after the mortgage crisis and the Great Recession, people are becoming more interested in purchasing real estate. Why? Because interest rates are low (not incredibly low but low enough to encourage investment) and property values are starting to rebound.
The research data supports this. According to some statistics:
- The 2016 U.S. home ownership rate (62.9%) is the lowest rate since the U.S. Census Bureau started tracking the number in 1965.
- The median existing-home price in June 2017 was $263,800, up 6.5% from June 2016.
- According to data from the National Association of Realtors, 5,250,000 existing homes were sold in 2015.
The first statistic means a great deal. Because the U.S. home ownership rate is the lowest rate since 1965, people must be renting more than buying. This leads to a buyer’s market when it comes to housing. More people may be trying to sell their home than buy it, though this depends on the region and city. A buyer’s market means lower prices. More to buy.
There are some statistics about user preferences when it comes to search for a house. It turns out that real estate related searches on Google have grown 253% over the past four years. 44% of home buyers look online for properties. And according to Zillow, 83% of buyers are looking to purchase a single-family home.
These show that Americans are searching for houses, most likely single-family homes. These are the homes that generally first time families start out in. They are quaint and nice. They can be in a good neighborhood, with access to a good school district. It simply depends.
Of course, much of the real estate being sold depends on the city. Memphis, TN might be different than Miami, FL for instance. These are two disparate cities, with different geographies and different levels of income. Memphis ranks in the lowest amount of income in the United States. Miami, less so.
In the cities in Florida, beachfront properties are popular and expensive. Beachfront properties can mean waterfront homes, luxury homes, vacation homes for sale, condos for sale, homes on the water, houses for sale, Key West waterfront homes for sale, and more. Waterfront and beachfront homes are popular and can sell for a high price.
Those who purchase beachfront, oceanfront, and waterfront homes generally have a higher amount of income compared to those who are searching for single family homes in a poorer city in the country. Those terms emit luxury. They emit class. They emit wealth. They represent powerful ideals of richness in this country.
Condos for sale are particularly popular and represent a certain amount of wealth. A condo in Key West for instance can fetch hundreds of thousands of dollars depending on the location. The person is paying for the location, for the richness of the condo, for the proximity to the beach.
Condos for sale can mean a small condo or a big condo. Generally, the view of a condo is a big condo. But they can be small too. Either way, the person will pay hundreds of thousands of dollars for the location and the space. But there’s an interesting twist. A person might purchase a condo without living in it. They will rent it.
Condos for sale can be managed by a realtor, one who specializes in the selling of in-demand properties in high value locations. A realtor will know the type of person that is interested in a condo, how much they are willing to buy for, how much the seller is willing to sell for, and the logistics of all involved.
Condos for sale can fetch a premium and the realtor knows this. That person will work with the seller and the buyer to find an amicable price to sell the condo for, or for the buyer to purchase to condo for. There are many ways to sell.