South Florida Home Prices Increase
The Miami Association of Realtors recently reported that home prices in South Florida increased in December 2013, showing that the housing market is continuing to recover. The median price for a single family home in Miami-Dade County increased a substantial 15 percent in December 2013 compared to a year earlier. As the market continues to improve, South Florida residential real estate attorneys are being consulted more often by homebuyers. An experienced South Florida residential real estate attorney offers valuable services that protect buyer interests such as mortgage negotiation, insurance rate reduction strategies and more.
Since 2012, home prices have gone up at a rapid pace in the South Florida region. The rate of home price gains are not expected to be quite as high in 2014 compared to last year due to a larger inventory of homes on the market. Both homeowners and investors have been tempted to list their properties for sale with the recent price jumps. For investors who are looking to flip properties and benefit from the recent boom, a South Florida residential real estate attorney can help them with drafting any type of construction agreement they may need for a remodeling or construction project.
Homes in Broward County are in particularly high demand, as median home prices increased 16.9 percent compared to 2013. Many homeowners in the region have been fortunate to free themselves out of a negative equity situation so that they can sell their homes. A Fort Lauderdale real estate attorney can help homeowners negotiate a new mortgage with the best terms possible if they are stuck in an undesirable mortgage. A Fort Lauderdale real estate attorney can also help homebuyers negotiate a low interest rate loan.
The rising prices of homes in Miami-Dade and Broward County demonstrate that it is a seller’s market, especially in Broward County where there was only a four month supply of homes available in December 2013. Sellers currently have the upper hand in price negotiations. Even though it is a seller’s market, homebuyers in Broward County can still save money by negotiating favorable terms on their mortgage with the help of a Fort Lauderdale real estate attorney.
A South Florida residential real estate attorney at Schecter Law can carefully review the terms of a mortgage to ensure that it is fair for the buyer. A South Florida residential real estate attorney can also help buyers get as low of an interest rate as possible by negotiating with lenders. With these services, a South Florida residential real estate attorney at Schecter Law can save homebuyers thousands of dollars over the life of their loan.