Fort Lauderdale, FL, August 18, 2013 --(PR.com
)-- Being careful to include all areas of home ownership or the possibility thereof Independence Title Inc. Founder, Kevin Tacher spoke recently about the fact that more new home construction is in America’s sights. As existing homes ready for purchase are scarce contlractors are poised to remedy that situation with new developments nationwide. “Of course natural disasters like Hurricane Sandy waylay housing starts and cause them to fall slightly in the overall picture of home sales nationwide. We saw that in the ater part of last year. However, since then we can see by the number of building permits for new single-family homes and condominiums, development is on the rise,” Tacher said. The title insurance company founder goes on to say that in one month alone permit applications rose 3.6 %. “What I find even more remarkable is that building permits rose to a stunning 27% over the previous time last year. Things are definitely on the move.”
Keeping grounded firmly in practicality, Tacher discusses how studies show that new home prices are moving up faster than prices for existing homes. He adds that though a greater supply of homes could ease the pace of future price increases, one still has to look at the fact that the median price of a new home in the U.S. rose to $246,200 in the later part of last year. “This median price of course is not reflective of coastal locations like Orange County, California where a new home can cost upwards of $545,000. Certainly everything is relative. Which brings me to my next point. The luxury home market seems to be in a bit of a slump,” added Tacher.
As high net worth homeowners rushed to list their homes and buy new ones so that they could, in part, avoid capital gains tax hikes slated for January of this year homes priced at over $1 million surged. Tacher elaborates, “The later part of last year showed a 51% upswing in expensive home sales. The changes to the capital gains tax showed that high-income earners would pay $88,000 less in taxes if they made a $1 million profit on their home in 2012 rather than in 2013. So, they took the leap then home buyers answered in droves and reduced luxury home inventory.” Tacher goes on to explain that this can really only mean one thing, a slump in the high end custom home market. That said, the company founder speaks to the extensive international investors who are continuing to invest in U.S. real estate particularly along the coastlines. “Sadly, after so many years of economic decline, American property comes at quite a bargain,” said Tacher.
Founded several years ago by Amazon.com Best-Selling Author Kevin Tacher, Independence Title Inc. is located in Fort Lauderdale, Florida. They are one of South Florida’s fasting growing Title Insurance Agencies. Independence Title is locally owned and managed. They provide their team of title professionals with state of the art technology, mobile applications and continued training. Together with support of the top underwriters in the title insurance industry, they have the expertise to complete real estate transactions with the highest level of efficiency and client service. For more information on Independence Title, Inc. or to download Kevin Tacher’s best-selling book, “SOLD” visithttp://www.TitleRate.com