Why move to Florida?

Posted by Ian McPherson on Saturday, June 6th, 2020 at 1:14pm.

 

Florida is a unique market in the United States.  We have great weather, low taxes, and great deals in Real Estate.  Across the United States there were more people applying for mortgates last month than this month.  In fact there was an 11% jump in mortgate applications vs. May of last year.  Why?  Part of the reason is the low interest rates.  This means more money in your pocket!  A lot more!

In the Florida Real Estate market have many types of buyers.  First time buyers, buyers who are purchasing a second home, and retirees who are buying cash.

It's interesting that most transactions over $1million dollars are cash purchases and the closer you get to the salt water the higher the percentage of cash buys.

Paying cash for a home isn't always the smartest play.  Some benefits of having a mortgate include the possibility of qualifying for mortgage interest tax deductions.  Other advantages include keeping the cash available to invest with the goal of higher returns that the interest rate on their mortgage.  Today borrowing money has many advantages.  Mortgage rates are the lowest they've been in recent history.  We see rates as low as 3.00% for some buyers.  This is for a conventional well qualified loan.  Jumbo loans and non-conventional loans incur more risk and demand higher premiums.

 

Would you like some more information?  I have contacts in the lending industry that I trust.  Please e-mail or call me for more information.

Ian McPherson  941-320-0999  ian@ianmoves.com

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