Simon Hopes

We all remember the latest real estate crash which took place in the US in 2008. While most of the markets have been able to recover from it following the better economic conditions in the country, there are a few real estate sectors which are still struggling despite the fact that a decade has passed since the happening.

Do you think Kissimmee could be your next home or are you a real estate investor who would like to enjoy some cash? Making such a hefty investment in any city is highly dependent on the real estate conditions and the factors governing those conditions. Before making an actual move, it is advisable to do enough research and come in contact with the local realtors who have detailed knowledge about their respective markets.

The housing market in Kissimmee appears to be quite hot because of the large inclination of most of the people to move here. Here are some of the top real estate trends which are observed in this area:

Median Price and Rent

Over the past year, there is a significant increase in the home values in this particular area. One of the main reasons behind this might be the recent realization of the people that living in Kissimmee can prove to be a cost-effective entertainment for their family. Because of the city’s proximity with some of the best recreational places in the country, one doesn’t feel the need to travel long distances for family entertainment purposes.

In 2018, the median home price in Kissimmee rose by $15,000 (8%) with the average price per square foot going to $122 from $115. The median rent per month is now $1,500 which is nothing as compared to the rent which individuals are paying to live in the big cities. While enjoying the same amenities, you can live in Kissimmee at a fraction of the living cost of any of the huge metropolitan cities.

Construction of New Houses

One of the top reasons to like the real estate market in Kissimmee is that it has something to offer to everyone. From individuals living alone to small families, everyone can find a desirable home for themselves in this city. The city has single-family homes, lakeside homes, mobile homes, golf-front homes, short-sales, and foreclosures. Thus, an investor will not feel out of options when looking for a real estate property in this area.

Not only this but there are a number of builders who see the potential of real estate in this area and are willing to build new houses to cater to the increasing demand of buyers. The wide range of financing options also makes it a breeze for the buyers to think of buying any home which would be reasonable according to their specific requirements.

Market Temperature

It is predicted by Zillow that the median price is further going to increase by 5.5% in the coming year. Currently, the market tends to favor the buyers so it is important to make a decision any time soon. With the present conditions showing an upward trend in the prices in the coming years, it is going to become very difficult to find inexpensive homes for sale in Kissimmee. As compared to the nearby markets of Orlando and Sanford, Kissimmee is still an affordable market.

Do you know what mortgage delinquency is? It is the inability of a buyer to make a mortgage payment. While the national average for mortgage delinquency is 1.1%, Kissimmee has 2.0% which is way higher. There is no denying that the home values in the US have fallen more than 20% since 2007 and even after so many years, they have still not been able to reach that peak again.

Unfortunately, 8.9% of the homeowners in Kissimmee are underwater, which means that they owe more than their home is worth.

Conclusion

According to Zillow, the real estate investments in Kissimmee have increased by 13.6% with a further chance of going up by 4.7%. The current statistics are in favor of buying a home in Kissimmee, making it one of the favorite markets of real estate investors. As of December 2018, this market is termed to be healthy because of an optimal number of both buyers and sellers.

Considering Kissimmee to be a hot market for tourism because of all the nearby attractions, investors can think of investing here for an Airbnb Property. The short-term vacation real estate is already thriving in Kissimmee because of the low costs and the proximity to all the fantastic destinations.

Start looking for homes for sale in Kissimmee as soon as you can so that you can land yourself a good property. The more you delay, the more are the chances of your favorite property slipping from your hands or being hiked in price.