Increased Demand for Home Builders Signals Recovering Market
Akerman Senterfitt, a top ranked law firm in Florida, has formed a special task force to assist builders and investors in response to increased demand from local developers.
Akerman will assist developers in acquiring lots and structuring deals for land purchases. The Task Force has senior real estate lawyers experienced in representing builders and developers.
There has been a recent spike in competition over lots throughout Florida and other parts of the country, including Southern California and Las Vegas.
Home builders have seen an increase in demand and have replenished their inventories of lots, many seeing rising competition over enviable locations. Akerman claims 0.5% of the recent 2.8% growth in GDP can be attributed to residential construction.
According to Richard Bezold, chair of Akerman's real estate practice, this competition picked up in central Florida and has spread throughout the state.
This is good news for the Florida real estate industry and the rest of the nation as well. Along with increased sales of existing homes and condos in Florida in January, this surely points to a recovering housing market.
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