Leugers Group - Brokered by eXp Realty

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"To raise the bar in our society by rendering life-changing high value service that saves the people we serve time, money and frustration."

Friday, February 14, 2014

Drastically Improving Market Forecast for 2014 in the Gulf Coast

There are many great Gulf Coast Area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Value Report so you know what buyers will pay for your home in today's market. You may also call me at (239) 344-7571 for a FREE home buying or selling consultation to answer any of your real estate questions.

Welcome back to my video blog. Today I'll be doing a short recap on the 2013 market and also looking ahead to 2014.

One of the best indicators that the National Association of Realtors uses to gauge how the market is doing is by analyzing the average sales price. In southwest Florida, the average home price for 2012-2013 went up by 13% to $298,842 dollars.

Interests rates are sitting right at 4.3% but they are expected to rise upwards of 1% which would bring us to 5.3% interest.

What this means: If you purchased a $250,000 dollar home, then your monthly payments will rise by $161.08 because of rising interest. This accumulates to an extra $2,000 every year or $60,000 over the course of a mortgage!

If you're on the fence about buying, now would be a great time to make up your mind because there are many great deals out there and we can help you find homes that aren't listed on the MLS.

Contact me with any questions or if you're seeking assistance in finding a property. You can call me at (239) 344-7571 or reach me at Doug@DLREE.com