Nationally, home prices are anticipated to increase in 2018 as they did in 2017. Mortgage rates are expected to rise due to the significant strength of economic growth, normal inflation, and greater monetary stabilization.
In Fort Lauderdale, Florida and the surrounding areas, Barry Levinson has developed a global presence and a reputation as one of the most sought-after real estate consultants. He consistently ranks among the top agents not only in Florida but nationwide. When asked, Levinson shared these insights on the forecast for 2018 in Southeast Florida.
The Fort Lauderdale area is a fantastic place to buy real estate and 2018 is a great year to consider it as all the indicators are very promising. Home values have risen by over 6 percent in the last year and are predicted to continue. The same economic factors that are in play nationally are having an impact in Fort Lauderdale also.
In addition, Trump’s new tax bill is making Florida an even better choice, with no state income tax and the property tax advantage of a homestead exemption. Moreover, residents of other states who pay these taxes and have lost the deduction of state and local income taxes from their federal tax returns could benefit by a move to Florida.
There are two very strong demographic markets for the Fort Lauderdale area market. The first continues to be an aging population who desire warm weather and luxury lifestyles for their retirement years. However, perhaps surprisingly to some, millennials are overtaking baby boomers in competing for higher-priced homes. In fact, it is estimated that millennials could reach 43 percent of all home buyers by the end of 2018.
Yet the best reasons for investing in home ownership in Fort Lauderdale has everything to do with the lifestyle and wide range of amenities the area offers. The city offers something for everyone from its fabulous beaches and parks, world class shopping, fine dining, watersports, year-round outdoor activities, cultural offerings and easy access to an international airport, cruise port and train stations.
According to Levinson, with rising home values, a strengthening economy, terrific tax advantages and an unbeatable quality of living, there may never be a better time than now to buy a home in the Fort Lauderdale area.
Barry Levinson is the exclusive agent representing the Fort Lauderdale, FLorida a real estate market as a member of the Haute Residence Real Estate Network. View all of his listings here.