As part of this year’s Great American Realtor Days, 10 Florida realtors met with Governor Charlie Crist in Tallahassee this week, where discussions took place regarding real estate trends and current market conditions. The Governor was very upbeat, and told those in attendance that now is the time to buy real estate in Florida. Governor Crist said, "It doesn't get much better than this. Supply and demand is going to come into balance here. Two to three years from now, people will be saying, 'Back in April 2009 I could have gotten that home for so many dollars’; so you don't want to wait. Prices have gotten as low as they can. Now is the time to buy, while the deals still exist."The Florida Association of Realtors (FAR), an organization with 125,000 members, was represented by 1,000 Realtors at the two-day Great American Realtors event. Realtors also expressed their positive outlook, telling the Governor that according to data compiled by the FAR, existing home sales this February were up by a whopping 20% over the same period last year. In addition, February home sales statewide were up 17% over January.
There are a number of reasons why real estate sales are beginning to show signs of improvement. Mortgage rates have dropped below 5% in most parts of the state, first time homebuyers now receive an $8,000 tax credit, and more people are taking advantage of housing opportunities that have become more affordable. The economic stimulus package has also become a major plus, encouraging more buyers to enter the market place.
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