Central Florida homes fly off the market
Buying a house has become a race to get the keys. Homes are flying off the market in Central Florida; some in a matter of hours.
Nationwide, homes sold faster last month then in any February since 2007. It’s a good sign for the housing market.
Buyers no longer have the option of “sleeping on it.” A lot of the time by the next day the house is already bought.
If you’re looking for a home or condo between $100,000 and $200,000, you’re in the danger zone.
Realtors are seeing buyers out bid by investors and properties are being listed and sold within a matter of hours.
According to the US National Association of Realtors, cash buyers accounted for 28 % of existing home buyers in January.
Realtors say the best advice for buyers is to get your ducks in row before you start to look, so you can even get in the race. This means buyers need to Pre-qualify, which doesn’t cost anything and ensures when they go in to make an offer on a home they have a pre-authorization and pre-approval from the lender, resulting in being a much more powerful buyer.
Some of the frenzy comes from a lack of inventory.
The economy is improving and buyers are ready, but sellers are waiting for prices to rebound more.
In fact, nationwide the number of homes for sale has dropped, but the number of days the homes out there are on the market is at a record high. The average time to sell is now just two weeks.