Wellington Home Prices- Higher Home Prices?
The South Florida real estate market is heating up! And Wellington is part of South Florida:) This is great for our real estate markets.
The South Florida real estate market is improving. The forecast is that home prices will rise another 6% before the end of this year.
Forecasters put Palm Beach County, Broward County and of course Miami/Dade counties to be in the top 10 highest and best performing markets in metro markets!!!
Of course there are pockets and areas within these counties that are still going to be going down in price for the next year or so. But the affluent and sought after markets have started to rise and will continue to go up.
These three counties were the first to fall- a huge fall in the bust. Following were Nevada and California markets followed by Arizona markets. But first to fall are first to rise!
From the collapse of the real estate market- most of South Florida saw prices plummiting down 50% to 60% from the boom prices. We are back to 2003 and 2004 prices in most places in South Florida.
Less than one third of all the sales taking place right now in South Florida are foreclosed properties. That number will be in flux for a while as the lenders continue to foreclose on properties stuck in the courts.
Phoenix is projected to have the highest increases in prices up to about 12.1 %. That is good news for Phoenix also!
About 60% of all the sales in South Florida are ALL CASH purchases. This helps keep the markets healthy and there does not seem to be any let up in foreign buyers eager to own a piece of Paradise in South Florida!
Katerina Gasset is the author of http://www.wellingtonfloridashortsales.com. Katerina Gasset is the homeschool mother of 9 children and wife to Nestor Gasset. Katerina Gasset is also a writer, author, speaker, Realtor®, SEO coach, blogging coach and business entrepreneur and consultant.