As the end of the year approaches, it’s a time for reviewing what’s been, but also looking forward to what will be. Even though we can’t predict the future long-term, we can at least get some perspective on developing trends. This is especially important in real estate, whether you’re in the market to buy or sell a home in Southwest Florida. Here’s some of the SWFL real estate trends I’m seeing and anticipating into the New Year.
Increased Rates Could Be a Positive for SWFL Real Estate
You’ve probably heard by now that the Fed has chosen to raise interest rates once again. They also announced further increases through 2017, which wasn’t as widely reported. So if increased rates often mean higher costs associated with real estate transactions… why could this be a positive for SWFL real estate? Well, as the rest of the country continues to see slower growth in this area due to decreased affordability, Southwest Florida becomes even more attractive. Even if you forget all about our wonderful beaches and other amenities, our real estate is remarkably affordable. This is especially true when you compare areas like New York, Chicago, or San Francisco.
A Continued Mix of Options
One of the biggest things that define SWFL real estate is the options. People, who have never visited the area or don’t know it well, often think that it’s all beaches and margaritas. (Okay, I’ll admit, many days are filled with just those things!) But at the same time, as the area has developed and matured, there’s such a range of options and lifestyles, it’s amazing. Where else in the world can you be on sugar sand beaches one hour and then riding horseback in the great outdoors the next? Or …If you’re searching for luxury shopping, but also want to hit an authentic Cuban restaurant beforehand? On the one hand, if you want to live a lazy island lifestyle, you can have it. Or if you want to be Downtown, drinking at the hippest craft breweries, we have that. Yet, there are plenty of rural choices as well. And we shouldn’t forget all the new families settling down in the area. 2017 will likely represent this continued diversification of lifestyle for those of us living, working, and playing in Southwest Florida.
What does 2017 hold for you and your real estate goals? Let’s talk about your thoughts on Southwest Florida real estate!
Terry Records
Broker/Owner
Records Results Real Estate
Residential Sales and Property Management Service
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