WHEN IT COMES TO TAMPA- ORLANDO – KISSIMMEE – SANFORD CORRIDOR
The real estate market behaves differently. Why? Because according to Sachsmedia, (Named one of America’s Top 200 PR Agencies for 2021 by Forbes), Florida grows by about 1,000 people daily. Our state attracts more than 100 Million visitors each year, not only drawn by our state’s warm winters, magnificent coastline, world-class attractions, and boundless natural resources making us the #1 destination but also because the job market is also changing to also include hi-tech, sports and medicine into the dynamic, helping Floridians be more competitive.
Below is a chart of our October market statistics showing that basically the market has slowed down a bit. Prices are starting to decrease but, I know the #1 question on people’s mind. Will the prices come down significantly? The answer is, No. Why not? Unless something bigger happens overseas, what the treasury intended by hiking the interest rate which is to slowdown the market is happening successfully. This will only slow down the market, not lower the prices as we saw back in the 2010, 2011, and so on– I was an agent then too!
The slow down on the pending and sold activities rely mostly on the works of the interest rates in today’s market and not so much in the interest of buyers as buyer’s financing falls through because the interest rates negatively affects their debt-to-income ratios (DTI).
The following charts are complements of National Association of Realtors (NAR) which shows where Florida’s real estate market is standing in relation to the rest of the nation. If you ask me, we are doing pretty good! What’s happening now is that the cash investors are buying because they know that even though the prices aren’t going down to level expected by most, they know the properties bought today will appreciate overtime– sooner rather than later and it is still a good idea to invest at today’s prices, not tomorrow’s. This is what’s keeping our prices at bay.
I will tell you this… Florida is getting better and better not only for what it currently has to offer but, because the plans and projects that are approved for improvements of infrastructure and projects to be built making central Florida a desirable place to live. Let me give you an example….
The Crystal Lagoons projects in Orlando, Kissimmee and Sumter County are expected to open in 2023.
The newest, family-friendly Florida attraction isn’t a theme park, it’s a man-made, beach-lined resort called Crystal Lagoons.
Crystal Lagoons resort is more than just a beach. The Miami-based multi-national company creates waterfront destinations featuring treated, filtered water that serve as magnets for surrounding real estate and retail development. Other projects will follow…
Would you want to know more? Connect with me and I’ll let you in all the projects that will continue to favor central Florida as the 1# destination for family looking for a healthy environment to raise their family, tourism and investors for many years to come.