Housing market in South Florida ripe for the picking

Juan Acevedo is a realtor.

He said Boca Raton is an example of a surging market.

Acevedo found single-family homes under $500,000 a hot commodity.

SURGING REAL ESTATE MARKET.MORE AND MORE HOMES SELLING INA MATTER OF DAYS BUT WHAT ISDRIVING IT ALL?

WPTVNEWSCHANNEL 5'S TODD WILSOWITH INSIGHT FROM THE EXPERTSAND WHICH HOMES ARE ESPECIALLYHOT COMMODITIES RIGHT NO<< NATS: (VO) EDITH LANDI ANDHER HUSBAND DECIDED TODOWNSIZE TO A SMALLER HOMEONCE THEIR KIDS GREW UP ANDMOVED OUT.

SHE SAYS THE MARKETIS HOT EVEN IN A TIME OFUNCERTAINTY.

(SOT 23:16:12)11SEC SORRY PENDING, SORRY UNDERCONTRACT, GOT A CONTRACT ANHOUR AGO, WE COULD BE ON THEROAD AND SORRY CAN'T SEE ITOFFER WAS JUST ACCEPTED.

NATS:(VO) IN HER EXPERIENCE EDITHSAYS IF YOU DIDN'T PUT INOFFER WITHIN 48 HOURS THEHOUSE WAS GONE.

(SOT 23:16:41)6 SEC BEING IN A PANDEMIC HASBROUGHT THE INTEREST RATESDOWN AND ACTUALLY MADE THINGEASIER FOR PEOPLE.

NATS: (VO)JUAN ACEVEDO IS A REALTOR.

HESAYS BOCA RATON IS AN EXAMPLEOF A SURGING MARKET.

ACEVEDOFOUND SINGLE FAMILY HOMESUNDER $500,000 A HOTCOMMODITY.

(SOT 23:22:47) 9SEC THOSE HOMES IN SEVEN DAYS,42 WERE UNDER CONTRACT, ANTHE FIRST 10 DAYS 53% WEREUNDER CONTRACT, SO THOSE HOMARE JUST FLYING.

NATS: (VO)ACEVEDO SAYS HALF OF WHO'SBUYING MAY SURPRISE YOU.

(SOT23:24:24) 4 SEC RIGHT NOW 50%OF MY BUYERS ARE ACTUALLY OUTOF STATE BUYERS I'M DEALINWITH.

NATS: (VO) KEN H.JOHNSON IS A REAL ESTATEEXPERT WITH FLORIDA ATLANTICUNIVERSITY.

WHEN THE PANDEMICSTARTED HE SAYS MOST REALESTATE EXPERTS FORECASTEDGLOOM AND DOOM.

(SOT 1:09) 10SEC THOSE PEOPLE WHO ARE 30-40ARE REALLY GOING OUT ANDBUYING HOMES AT A PACE THATTHEY HAVEN'T BEEN IN THE PASTBECAUSE THEY HAVE LESS WORRYOR FEAR OVER EXPOSURECOVID-19.

NATS: (VO) HE SAYSLOW-INTEREST RATES IS DRIVINMUCH OF WHAT YOU SEE NOW.

(SOT03:40:17) 6 SEC WHEN WILL THISSLOW DOWN?

WHEN RATES MOVE UP,WHEN WILL RATES MOVE?

THAT'SHARD TO SAY.

TODD'S TAG: HEREARE A FEW SUGGESTIONS IFYOU'RE LOOKING TO BUY, FIRSTMAKE SURE YOU ARE PRE-APPROVEDIF YOU SEE A HOUSE YOU LIKE..YOU MAY NOT WANT TO WAIT TOPUT A BID IN.

IN PALM BEACHCOUNTY, TODD WILSON, WPTV5.