Great Time to Buy a Pet-Friendly Home in South Florida
If you're looking to buy a pet -friendly home in south Florida, you've probably noticed there is an extreme shortage of homes. Many communities have no homes for sale. Pet friendly or not, gated communities, 55+ gated communities, If you're looking to buy home in Boca Raton or the surrounding areas now, inventory is very low. But now is a great time to buy!
GREAT TIME TO BUY
It's a great time to buy a home in south Florida. Why? Interest rates are historically low. For anyone taking a mortgage, this is huge. When I moved to Boca Raton, interest rates were about 9%. Now, they're about 3%. That's a huge difference.
LOW INVENTORY
Inventory is at an all time low in Boca Raton, Delray Beach, Highland Beach and Boynton Beach FL. I have several buyers looking for different types of homes, from pet friendly condos in Boca Raton, pet friendly 55+ communities in Delray Beach and single family homes in Boca Raton and Boytnon Beach at this time. I run a search for a community and come up with two homes or zero homes. It's crazy. An they're waiting.
When a nice home comes up, it goes under contract and, likely, with multiple offers. If you see a home you like, the market we are in is such that you need to move on it now. I think the last few months have really brought to light how fragile life is and if you're going to make a move, do it now. Because if not now, then when?
MULTIPLE OFFERS
Homes are receiving multiple offers. We haven't seen that in a while. Last week, one house had 4 offers and one had 22. Can you imagine 22 offers for the same house! People are doing anything to get desirable homes that come up. I've seen shorter inspection periods and even waiving appraisal, which is a crazy thing to do unless you have the cash to back it up.
What is all of this doing to prices?
RISING PRICES
Prices are rising as a result. The combination of low interest rates, coupled with low inventory and high demand of many people fleeing cities at this time, is causing prices to rise. Homes are often selling for asking price and above.
If you're in the market to buy a home now, whether Boca, Delray, Boynton or Highland Beach (and surrounding areas), you need to get your ducks in a row first. Know the steps involved in buying a home in Florida. Get preapproved before looking at homes. If you want to make an offer, you will need that preapproavl in hand. If I submit an offer without proof of funds or a preapproval, they throw it back to me and say, Where's the money? Be prepared.
NEW CONSTRUCTION
Thinking of new construction? Do your research! Take a buyer's agent with you when you call or visit a builder. It doesn't cost you a penny. You won't save any money going to a builder without an agent, so you may as well have someone on your side who is knowledgeable about the different aspects involved in building a new home. You need to ask the right questions. The nice salespeople in the builder's office will sell you anything.
Do you need a buyer's agent for new construction? You bet you do! Buyer beware.
FINAL THOUGHTS
Taking everything into account, if you're in the market to buy a pet-friendly home in south Florida now, be prepared and ready to move quickly. Market conditions at this time dicate it. Low interest rates, low inventory, high demand and rising prices are the market we are in.
If you have any questions about pet-friendly gated communities in Boca Raton, pet friendly 55+ communities in Delray Beach, Boynton Beach, FL or pet friendly communities in south Florida, contact me. I can be reached by cell/text at (561) 716-7824 or email at This email address is being protected from spambots. You need JavaScript enabled to view it..
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