Text Sizes: A A A

News Release

« Back

For Immediate Release
Oct. 3, 2007

Contact: Hank Oltmann - 2007 President,
Northeast Florida Association of Realtors
E-mail: broker@abcrltyfl.com
Phone: (904) 655-7786
Fax: (904) 866-4279


Work With Your Realtor: Now Is The Right Time To Buy A Home

JACKSONVILLE, FL - Buying a home is one of the biggest and best financial decisions most people ever make and now is unquestionably a buyers market. Why? Interest rates are favorable, prices are stabilizing, inventory is plentiful and homebuyers have lots of options.

"Despite media reports that make erroneous comparisons between today's housing market and the stock market, Florida Realtors know buying a home is a very personal investment - an investment in that homeowner's future,' says Florida Association of Realtors President Nancy Riley. "Although research shows it is the largest single investment most families make and helps to provide security for the future, owning a home isn't just a financial investment. Ownership is about having a place to call home: a place where families build a future and become part of a community. All housing markets are local. Your Realtor, a real estate professional, knows your needs, your goals and your specific situation and is there to guide you in your decision. It's a great time to buy Florida homes - interest rates are low and affordable inventory is back in many markets. So call your Realtor to help you find the right home at the right time."

Over the past five years, the average homeowner has seen an increase of 50 percent in value, according to the National Association of Realtors. Here in Florida, the statewide median home price has shown an increase of 64.2 percent from August 2002 to August 2007, according to FAR records. NAR housing industry analysts project that prices will rise about two percent next year, and in coming years, average home price appreciation should return to historical averages of around six percent.

Long-term economic and demographic trends continue to favor Florida. Recent reports show that the state's economy remains strong and is continuing to diversify. Census projections indicate that Florida's population is expected to increase about 75 percent by 2030. Florida demonstrates a long history of strong growth. It has been one of the 10 fastest-growing states in the U.S. for each of the past seven decades, and often it has been in the top four, according to census data.

Florida is a great place to live and work. According to Enterprise Florida Inc., the Sunshine State has one of the nation's strongest tourism industries; it is fourth in the nation in high-tech jobs; is the third largest exporter of high-tech goods and services; and is ranked as one of the best states in the nation to be an entrepreneur.

Buying a home is a big decision, but you don't have to go it alone. With the help of a professional Florida Realtor, you can find the right Florida home to call your own.

# # #