The central Florida housing market is tighter than skinny jeans on a hipster. If you've been shopping for a home in the $100,000 to $120,000 (or up to $150,000 for that matter) you know just what I mean. The number of houses for home shoppers to choose from is slim--down to a mere 1.7 months inventory in Orange County. That means we're in an extreme seller's market and only buyers with the best offers get the house.
Cash is King
Those on the losing end of this race are normal Joes. Folks with traditional financing, minimum down payments and "boomerang buyers"--that is, people who have gone through foreclosures and are coming back into the marketplace this year. Cash truly is king and these buyers are being trampled on by investors with deep pockets.
Get off the multiple offer hamster wheel
Buyers who are tired of the showing-bidding-rejection cycle might want to consider new construction. Just like the boomerang buyers, homebuilders are back too and they're doing blazing business. With free upgrades, no closing costs and lots of other incentives, you might find this is the perfect solution. After all, when you build your own house you don't have to compete with anyone else. There are dozens of builders with new homes in every imaginable price range. Who could complain about new everything and that glorious new home smell?
Comments