Have you, like many others been wondering when the market will improve?  Asking yourself "have we hit rock bottom?"  Been waiting and wondering how low will prices go before you "start looking".   From leading indicators, the market has begun to improve.  First reported in Lee County, there is a new sign of life in Florida Real Estate.

The roller coaster ride is gaining some momentum

According to the National Association of Realtors, sales in March 08 were up 10% over the previous month. Over 9,000 homes sold.   The median price is just over $205,000 in Florida. 

BUYERS CAN HAVE THEIR CAKE & EAT IT TOO!

Flavorable mortgage rate are a tasty treat for qualified buyers.

Fannie May and Freddie Mac are considering higher debt to income ratios (may be increased to 50-55%) which would assist greater numbers of people looking for government backed financing.

Like with any ride after the sensation of freefalling has spiked your adreneline...the ride will eventually level out and a sense of well being returns.  It would appear, the the tumultuous freefall of home prices has now begun to show some stabilization and a reported increase in Home Sales in Florida.

The median cost of home in Florida in 2003 was $151,000. As of March it was $205,000.  In five years despite the turbulence property purchased then still yielded a return of 10.8%.   

The Housing Meltdown hit Florida hard. It also hit Florida earlier than was reported in other parts of the country. It would reckon to reason then, that gains reported here may be the hingepin open the gateway to sales across the country as well.

Despite the surge in higher fuel prices, more people will be looking to relocate closer to their places of employment. In addition the influx of foreign buyers to our Market has attracted International Buyers who see the opportunity available to purchase properties at "normalized" prices and hold them long term.

There is icing on the cake for those buyers who waited, protected their credit and have now realized pricing in many parts of Florida has bottomed out means they can have their cake and eat it too.  Many homes have returned to 2003 Market Prices.  There is good selection and competition amoung sellers seeking to achieve a sale.

Lenders are ready, willing and able to write loans, and the rate is very favorable compared to this time last year.

Buyers who still feel prices may go even further will miss the opportunities out there.  The way one benefits the most is to be in the front of the line not at the end.