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Sandy gives WEAR ABC 3 his expert advice on the current housing market

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Sandy Blanton On WEAR ABC3

Team Sandy Blanton

BIO: Broker Sandy Blanton is a Pensacola native has been a leader in the gulf coast's real estate industry over the past 30 years...

BIO: Broker Sandy Blanton is a Pensacola native has been a leader in the gulf coast's real estate industry over the past 30 years...

May 23 3 minutes read

 

ESCAMBIA COUNTY, Fla. -- Florida's housing market continues to see soaring demands with low inventory.

With rent rising, shortage of houses available, and Florida's homeowner's insurance through the roof -- many are wondering what they are going to do in this market.

Sandy Blanton with Team Sandy Blanton Realty says in Florida's housing market, prices have not slowed down and neither have sales.

  • Channel 3: "Have you seen anything like this?
  • Blanton: "No, I've been doing this for 30 years."

According to the Pensacola Association of Realtors, last month the median sale price for a home remained about the $300,000 mark.

"Which is mind-boggling," Blanton said.

Blanton says active listings are going up some, which is good news for potential home buyers.

But, he's not sold on the idea that it's going to help much, due to the national housing shortage.

"If I could list a hundred three bedroom, two bathroom house in the $300k-$400k range tomorrow -- they would all be sold within the end of this month," Blanton said.

Blanton also feels if we continue to see limited supply, coupled with higher demands, and if you jump into the housing market now -- your mortgage will remain the same on the home you close on.

He says the only direction your rent will go, is up.

"A lot of people have become scared out of the market, waiting for a crash," Blanton said. "I do not believe we're going to see any reversal in values, I don't see that coming."

As we continue to ride out this never before seen housing market, Blanton says his advice to renters and potential homebuyers -- start hitting the pavement for a new place to call home. Don't give up until you do.

"If you can qualify to buy a home, buy a home because rent is just going to keep going up and up and up every year," Blanton said. "I don't say that as a biased real estate broker, I actually make more money on rents than I do on my agent's commission."

Blanton says he's looking forward to Florida's Property Insurance Special Session, which kicks off Monday.

Legislators are set to discuss how to deal with the state's ongoing homeowners insurance crisis.

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