According to FAR (Florida Association of Realtors) Florida single family existing home sales rose in July for the first time in more than 2 years! it's actually only six (yes, that's 6 more) homes than July of 2007, but that's enough to indicate a hint of stabilization.
This is big news because the last time this happened was at the end of the year in 2005.
Now, the good news for buyers is even though we're starting to stabilize, the median sales price from a year ago is down 19%. There are a multitude of foreclosures available as well as "short sales". Short Sales take a lot of patience and are not the thing for buyers who need to get into a new home quickly. However, the foreclosres can be quick and easy and there are many that are in excellent condition (even some that are new and never lived in!)
If you've ever thought of buying a second home or retirement home in Florida - now is the time. Or, if you're already starting to think about the end of summer and the coming of winter, it's time to move to Florida. We have NO state income tax, low sales tax and Homestead Exemption (for your main residence).
Interest rates are still low, so what are you waiting for? If we're starting to stabilize it won't be long before the prices start moving slowly up again.
PLAN YOUR FUTURE NOW - INVEST IN FLORIDA