With the housing market on the rise in most cities in the United States, house sales are expected to rise approximately 2.5 percent monthly, according to Zillow Real Estate.
Garrett Kenny, author of Buying and Owning Property in Central Florida and CEO of The Feltrim Group of Companies, has grown his companies’ revenue to over $500 million within a six-year span.
Kenny, who started his real estate career almost 20 years ago after he moved to the United States from Ireland, initially created this book to help individuals who are homebuyers and to bring awareness to facts and figures to over-sea buyers who are investing in vacation homes in Central Florida.
“Real estate has traditionally shown to be a good investment, but I always tell people to make sure to look at location, location, location,” Kenny said. “To get the right investment, it’s important to buy in the right location.”
The difference in average home prices in Tallahassee as opposed to Orlando is about $50,000. According to Trulia, the median price in Orlando is $199,000 and the average price is $149,900 in Tallahassee.
When asked why such a difference in the average prices of homes in Tallahassee as oppose to Orlando, Kenny mentioned that he has no experience in the Tallahassee market, but stated “Orlando had 62 million visitors last year.”
Three major tips when purchasing a home is to get pre-approved for a home loan, hire a home inspector to evaluate the potential home, and be well-informed about the community, according to HGTV.com.
Also, fixing errors on annualcreditreport.com will make any pre-approval process easier when buying a home.
Curt Bogle, a broker in South Florida, emphasized the importance of good credit and detailed that credit scores determine the type of finance that one is eligible to receive.
“The higher the credit score, the more favorable the interest rates and fees,” says Bogle. “When it comes to loans, there are programs that accept individuals with credit scores as low as in the 500’s.”
Florida resident Veneicia Merchant realized that a number of houses were being sold within her community, but shared that she would get more bang for her buck if she purchased a house in another state.
"I noticed houses getting renovated and houses being sold, so I think it [the housing market] got better.” said Merchant.
For updates and information on the housing market visit http://www.zillow.com.