Florida Home Prices Up 5% for January

by Isaac Benmergui, Esq on March 7, 2012

A house selling for $122,500 a year ago, sold for $129,000 in January of this year. That’s a 5 percent increase for Florida, which is good news considering overall, statewide sales declined. Nationally, sales were up 4 percent.

Jobs, then Banks, then Homes

“The health of the U.S. economy’s recovery depends on the housing market getting back on its feet,” offers real estate attorney Isaac Benmergui. Manufacturing is up, companies are moving some of their operations back to the U.S. as China’s labor costs are rising, but until the housing market bounces back, the economy won’t be considered healthy. Stock and real estate expert Michael Lombardi says he’s never “seen an economic recovery unaccompanied by a real estate market recovery.”

Reverse Domino Effect

Once potential home buyers feel comfortable in their job market again and banks get over their shyness about lending again, the real estate market should see a steady recovery; the economy needs a reverse domino effect without risk of falling down again. “Banks are scrutinizing any new loans applications with a keen eye this time around,” notes Benmergui.

Getting Legal Help

Protect your real estate investment before the closing. Let the law offices of Isaac Benmergui help you with your legal real estate needs to make certain you’re getting a free and clear title. Don’t rely solely on the title company! Call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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