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An improving state economy, population growth and stronger demand are creating opportunities in the state’s residential, commercial and land markets, according to an experienced Realtor in Florida.

“To succeed in 2012, we need to think about how trends in the national economy tie into our local market,” said Brad Ball, Broker Associate for Frankel Reaty Group in Jupiter, Florida. Speaking on the South Florida residential market, Ball said, “South Florida is such a diverse are, both geographically and culturally, that you really need to do your homework.”

Ball said that key trends affecting the South Florida residential market include strong demand from international buyers, a growing population – 348 people a day net growth in 2010-11 – and an upswing in employment.

Reviewing South Florida’s housing market, Ball said that inventories of for-sale homes have fallen to 7.4 months on average, and just 5.4 months for listings priced under $250,000. He added that lender-owned properties (REOs or “real estate owned”) now constitute about 6 percent of inventory, but 40 percent of sales. Short sales, where the market value of the home is below the mortgage loan value, make up about 31 percent of current inventory and 18 percent of sales.

Ball added that property management and leasing will be an increasingly important segment of the market in 2012, reaching $11 billion or more, due to the large numbers of investor buyers and troubled multifamily buildings with few owners.

For information on your local real estate market, contact the professionals at Frankel Realty Group at 561-427-2154 or visit us on line at www.frankel-realty.com. You can also contact Brad Ball directly at 561-373-8700 or bball@frankel-realty.com. We are ready for your next move.