Lake, Seminole and Orange County Real Estate News

In almost all communities today, it is cheaper to own than rent, often by hundreds of dollars a month.Here’s a closer look at three key reasons to buy:

1. Low prices. Prices for single-family homes and condominiums have fallen dramatically from their peaks in the mid 2000s. Prices appear to be stabilizing in many local markets across the state. This is another positive sign that the housing recovery is gaining strength.

2. Low mortgage rates. Today, mortgage rates are far below their historic averages. In October, the average rate for a 30-year fixed loan dropped below 4 percent – the lowest rate the 40-year history of Freddie Mac, the national government-backed lending institution.

3. Large inventory. Throughout Central Florida, there is large inventory of homes and condominiums in all price ranges. However, the number of sales is rising and the number of properties available at any time may gradually decline. Buyers have a lot of choices throughout the Central Florida. It’s a great time to buy a Florida home.