2013 bodes well for real estate. Homebuyers are pouring in again. The generation of baby boomers has spurred the spike in real estate activity on late quarter of 2012 and rose to its highest in 6 years on the second quarter of 2013. Although, some speculates on how long such positive influx will continue to prevail. With low interest rates, many homebuyers are grabbing the opportunity before interest rates hikes up again.
During the last decade, this region was famous for the major influx of retiree migration in the country. Around one in four retirees aged 55 and over have made the decision to move to Florida where the weather is pleasant, the amenities are well suited to a more senior group of people and the wholesome, fun activities are enjoyed by a vast majority of retirees. But recently, a shift is noticed regarding the newer residents of this sunny tail end of the US East Coast – more and more middle aged folks and their families have decided to call Florida their new home. This is mainly due to the fact that these middle income families realize the opportunity of purchasing real estate which has the highest potential to skyrocket in value in a few years.
Not only is the increase in value worth the investment – so do the potential of interest rates. Simply put, it is better to purchase high quality homes at lower costs right now, when the interest rates are at their lowest. Push back your battle plan a few years and you will have to suffer the consequences of almost twice the interest rates. You may feel the effects of interest rates more when you decide to purchase a larger home.
Another reason the increase in real estate purchases has been prevalent in the last few years is the prospect of retirement. People do not want to wait until they retire to plan their move. They are actually thinking of retirement right now – even if the prospect of retiring maybe some 20 to 25 years away. The economy is beginning to bounce back and people are feeling secure about their jobs again, so now is the right time to focus on the future.
If you are on the lookout for worthwhile real estate investments in the Southwest Florida region, check out the area around Naples, Fort Myers or Marco Beach, where builders are working almost round the clock to build the home of your dreams.