For many buyers, a low interest rate is a major consideration when looking to buy a condo, townhouse or single family home. Especially now since we have seen interest rates in the low 2% range. The basic thinking behind "Marry the House and Date the Rate" is that buyers should not allow interest rates from detering them from purchasing your dream home, because rates are likely to dip in the future and this will allow you to refinance to a lower interest rate. The typical mortgage term can last up to 30 years or more so it’s tough to think you may be stuck with anything less than the lowest rate possible for an extended period of time.
Most experts agree that rates will eventually come down, although we may not see rates in the 2% range for a long
Condominiums and Cooperatives In Florida - Building Reporting
If you are part of a Condominium or Cooperative in the State of Florida you may have a duty to report information by January 1, 2023...
718.501(3)(a), F.S./Senate Bill SB4D requires all condominium and cooperative associations with buildings 3 stories or higher to report the following information to the Division of Florida Condominium, Timeshares and Mobile Homes on or before January 1, 2023.
Experts are starting to make their 2023 home and condo price forecasts for 2023. As they do, most agree condos will continue to gain value, just at a slower pace than the prior 3 years. The value gains over the past 3-5 years were realistically unsustainable. Although the news media would have you believe the market for condos is about to crash, the majority of experts do not agree.
Over the past 10 years, the values of condos in the South Florida are has increased by 3-5% annually, with the largest increases being over the lat 2 years.
To understand why experts are calling for appreciation in the condo market in 2023 you only need to consider supply and demand of condominiums in our market. Three factors are driving condo prices…
