Recently, there has been a lot of activity in Florida commercial real estate, home sales, and new homes being built. The following is my advice for those interested in Citrus County real estate for 2019.

Investment Properties

If you are looking for investment property this year, your best bet would be to buy vacant land. Look for property anywhere you can build homes such as in subdivisions and developments at a low price (between $2,000 and $4,000). With the turnpike coming in, your investment in that vacant land will increase because we will become the bedroom community for Tampa. With the increase in population, vacant commercial lots at a reasonable price along Highway 19, Inverness, and County Road 491 are good investments. When the turnpike is nearly completed, prices will likely go up substantially, so don’t wait too long!

Homes

The housing market is rebounding in the county. Housing prices in Citrus County right now are up over last year by nearly $16,000. New building permits are increased since last year.

People trying to buy houses right now should look for short sale houses. Short sale properties are down nearly $2000 from last year. Foreclosure homes are up $31,000 more than last year. Banks are not offering as much of a discount on foreclosures because their inventory is down on foreclosures.

Commercial Properties

‍Commercial properties being sold and inquired about has been increasing in activity this year. If you are thinking about selling a commercial business and/or property, this is a good time to place it on the market.

If it seems like there aren’t many people looking for property, keep in mind you just have to know who to talk to. Give a Licensed Real Estate agent a call and ask if they can help you with leads they have about the market.

Contact John T. Conroy, Licensed Real Estate Broker at 352-634-2471 or  johnconroy50@yahoo.com for all your real estate needs. Tips From A Pro is brought to you by Affiliated Pros of Citrus County.