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Florida Gay RealtorsFlorida Gay Realtors, Florida Gay Real Estate Agents, Florida Lesbian Realtors, Fort Lauderdale Gay Realtors The following article has been written
by Rob Rose, a Gay Realtor in Fort Lauderdale, Florida. Rob Rose can be reached
online at Is There a Real Estate Bubble in Fort Lauderdale? I Wouldn’t Bank On It. Many people are hearing lots of chatter about how the real estate market across the country is in a bubble that is about to burst. That may be true. Despite George Bush’s insistence that the economy and job market is strong in Middle America, reliable data indicates otherwise, with no real improvement in sight. Add to that the prospect of rising interest rates, and Middle America is indeed in for a financial struggle that will in fact cause price adjustments in housing for many Americans. With the average middle-income family spending a greater percentage of income on housing than ever, and often buying more house than they could normally afford with a low-rate adjustable mortgage, any broad-based negative change in the nations economy could spell disaster, even panic, causing the real estate bubble to burst. While I believe this is the prognosis for many younger people and families with average incomes, my experience as a Realtor in the greater Fort Lauderdale area has given me first-hand knowledge of a much more positive outlook for real estate appreciation., with no bubble in sight. Fort Lauderdale continues to be discovered by more and more gay people as a great place to live, and demand continues to outpace supply. The cost of housing related to income continues to widen, creating a market more like San Francisco, where the average worker was long ago priced out of the market as a first-time buyer. Who is buying real estate in Fort Lauderdale, and how can they afford it? A major Florida developer conducted a nation-wide survey to determine what type of housing they should be building, where, and for who. That study showed that 30 percent of baby boomers are planning a Florida retirement. That is an astounding number. This generation, many living in urban cities around the Country, is my primary client base. They are unlike any generation that came before them. Unlike prior generations, baby boomers tended to buy a first home when they were single. They enjoyed unprecedented appreciation of that property, often giving them confidence to buy a larger home, particularly after marriage. Prior generations tended to buy a home and stay there until death This generation has moved often, each time benefiting from appreciation. Many also own a second home and/or investment property, and often have significant equity in a diverse real estate portfolio. The majority of my clients fit this real estate-rich aging baby boomer profile and the majority of them are gay. Every day I work with gay people who are moving to Fort Lauderdale, or moving real estate investments to this area, or buying second homes for a future retirement, or buying anything just to get in on what they know is a market that is destined to continue to rise in value. This is not about whether they can find suitable work or whether their job income is stable, or whether they can swing the mortgage payment if rates go up. They have lots of cash, lots of equity, and lots of confidence in real estate. While this is bad news for many first-time and modest income buyers, I believe it is a good indicator of where the local real estate market is headed. I for one am not holding my breath for the bubble to burst in eastern Broward County, and from personal experience working with hundreds if not thousands of gay baby boomer clients, I can tell you I’m not alone. If you’re the worrying sort, I’d be more concerned about the rising cost of health care, and cast my vote for Kerry. Rob Rose R.L. Rose & Co., Realtors 217 N.E. 2 Street Fort Lauderdale, Florida 33301 Toll-Free: (800) Rob-Rose Direct Line: (954) 467-3305 Ext 201 Facsimile: (954) 467-0507 Executive Assistant Michael Dillon, Ext 202 Sales Assistant John Cotter, Ext. 205 Please visit www.southfloridahome.com where you can search the area MLS for any property currently listed by any agent by clicking on MLS SEARCH. You will automatically be notified when a new listing comes on the market meeting your criteria. If you prefer (and to get more specific properties) I can set up more specific searching based on your criteria and my knowledge of the area. I have been in real estate in the area for 25 years and know all of Broward County and Southern Palm Beach County better than any other Realtor. My website has a wealth of information about how I work for buyers and sellers, Condominium and neighborhood profiles, and tips, information and articles I have written related to real estate in southeast Florida.
Please let me know if I can help you with your real estate needs. Website: www.southfloridahome.com Search MLS: www.southfloridahome.com/searchmls.html Buyer Survey: www.southfloridahome.com/buyersurvey.html Seller Survey: www.southfloridahome.com/sellersurvey.html The following article has been written
by Rob Rose, a Gay Realtor in Fort Lauderdale, Florida. Rob Rose can be reached
online at |
