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Real-Estate Recovery in Florida?

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  • Description

    The Campins Company founder Katrina Campins on the state of the housing market in Florida.

  • Duration 4:02
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And from the golden stay down to some more sunshine Florida I was one of the hardest hit housing markets but now.

It's well on its way to recovery Katrina campus is the founder.

His company and she is joining us from Miami Florida Katrina great to see you.

Is the recovery that you're saying and I was -- I've been in Florida not long ago and -- the market just in January has gotten really hot.

Are you seeing more activity on the higher and say 800000 dollars an op.

Vs say it will lower priced properties say in the 500000.

Dollar range.

As a whole the Florida housing market is definitely on its way to a recovery.

I would say that there's many many points and that indicate this the first being the levels supply.

And -- go into specifics with regard to luxury and -- housing market.

But we have a six a 69 months' supply really is equilibrium in our industry -- there's a healthy -- between buyers and sellers.

And many parts of Florida were actually seen a dip below all inventory levels below equilibrium I should -- which causes price appreciation.

And that's Carolina and multiple offers on properties and buyers are actually becoming a bit frustrated.

Because they aren't able to locate that perfect property because of the lack of inventory.

We also have to remember that Clark continues to be a long term growth state meaning that -- long term economic and demographic.

Factors favor Florida.

So as population growth increases it continues to provide a foundation for economic development which includes jobs and income growth -- this -- -- in general is played -- -- the third largest state in the nation they could -- know what percentage of body has would you say are foreign buyers at this point we hear a lot about it just curious if you had a had a says just in net.

Real estate transactions in which you've been involved.

It's interesting you bring up that point because a lot of our transactions in Florida are coming from the international market -- seen a huge influx of Russian buyers.

Buyers from Brazil.

Buyers from Europe in general it's definitely and helping.

The in the Florida markets I would say a large percentage but -- -- be amazed at how many of these deals are also coming from people.

Migrating from colder climates.

I have a lot of snow birds coming down here in part is looking more and more attractive not to mention and -- still continues to be the destination for retirement and with regard to the luxury market in the luxury market is -- is my niche and that market is doing extremely well of course you don't have the obstacles that you have.

In the lower priced market because you have a lot of cash buyers -- have people that continue to have money and they're paying cash of these properties and that way you're beginning to see more -- these bidding wars on the luxury properties which to be -- to do I haven't seen in years.

If I've I've heard stories I have heard stories in -- in terms of Miami particularly even the South Beach area.

The Condo hotels became a very tricky proposition when the financing dried up have you seen -- been I've I've read some things.

Are you -- some of the financing comeback for the Condo hotel properties.

Not specifically for the Condo hotel properties and I think a lot of developers are staying away from the Condo hotel projects are -- I have seen many developers.

-- any new projects one in which I'll be rep resenting and in the next.

Year and but the Condo hotel market has really not revamped the same way -- Justine straight up condos which I think it's healthier for the market to the content -- out.

Market -- a little bit and balanced at at one point -- with regard to financing and still you know it's still difficult to get financing allegation that the 20% down.

Which I think is healthy because it keeps things balanced.

She -- great to see and be well I wish I was I mean I wish I was where you are but again that helps your business -- we have one bad snowstorm -- And it makes people rethink.

Living here so I can contain I mean you -- this coming week or lettuce CNN we rely I would love to -- let us now we don't -- towns that.

-- -- thinking and take here.

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