There are many homeowners looking at the prices homes are selling for around them and they are salivating as they fantasize about upgrading to a bigger home or paying down debt. Home prices from 2008-2012 were in the dumps and if you bought a home then, you probably purchased your home for a great price. Home prices have been briskly rising over the past few years, and now could be the time to take some profits. But, can you really afford to sell your home?
Each year, I write a short housing forecast for the upcoming year. Before discussing the 2020 housing market, let us see how I did on the 2019 forecast.
Over the last 20 years, building and remodeling in Central Florida has become a lot more complicated and difficult for builders. It is to the point that many of the smaller, local builders are tapping out. Prior to the major Florida Building Code revisions in 2001, a home or remodeling project could be measured from planning to completion in the number of weeks; nowadays, it is measured in months. From the moment a construction project is planned until the day in which the keys are turned over, there are obstacles which can derail your project and cost you money. Ask any long-term builder — it’s just not fun anymore.