The South Florida real estate market has priced out potential buyers over the last couple of years. WSFL-TV Trusted Advisor, Chad Van Horn of Van Horn Law Group, joined Inside South Florida to share his 2023 viewpoint on the South Florida real estate market.
“The good news is in South Florida we're going to level off. The prices are not going to go down significantly,” says Van Horn. “The okay news is that interest rates are going to be higher. If you are financing a property, you're not going to get the 3% or 2% interest rates that we saw last year.”
Adjustable-rate mortgage holders may find it difficult to afford their properties.
“If you're looking to buy a home, there are homes coming on the market because adjustable rates are going up to 6, 7 or 8 percent,” says Van Horn. “If you're an expert investor, you can look at foreclosure sales and buy them out of foreclosure. Otherwise, you can get a licensed realtor that works in the area that you're in.”
Van Horn Law Group is now offering financial coaching services.
For more information, visit vanhornlawgroup.com
This Inside South Florida segment is paid for by Van Horn Law Group.
