Home sales, construction recovering from recession
Alachua County home buyers and sellers are seeing home values slowly increasing at an estimated rate of 5 percent, causing a steady growth in the local real estate market.
“It’s all good in general for the whole economy, the whole cycle of real estate,” said Greta Rice, broker and sales manager for Town of Tioga.
Some buyers, such as in the Town of Tioga neighborhood, have already started taking advantage of low interest rates after a period of stagnancy from prospective buyers.
“A lot of people, because of the crisis, have held back from making decisions on their families. But the families still grow,” said Lucas Diaz, director of development for Town of Tioga.
Construction is also improving, which creates a positive cycle, benefiting other areas of real estate.
“Construction is getting to be the big thing now,” Rice said. “We’re glad, because if you see new construction popping up in the economy, or in our town, that new construction fuels all the different aspects of purchasing and selling.”
Diaz said the new construction combined with the low interest rates makes people feel like this is the right time to buy.
“It’s giving people a better feel that this is the right moment,” Diaz said.
Jensen Werley wrote this story online.
More Stories in Business
It’s the start of a new era at Durty Nelly’s Irish Pub as the Gainesville bar banned smoking in an effort to create a healthy, welcoming environment for its customers and employees.
Oct. 1 marks the national deadline for businesses to switch over to chip-enabled card reader terminals. Some local businesses are debating whether or not the cost is worth the investment.
Gator Domino’s is going digital. At the new store, scheduled to open Oct. 5, workers will not take orders at the drive-through. Food must be ordered by telephone or by a digital device ahead of time. A “pizza theater” will be featured, where customers can watch their food being prepared. The owner, Freddie Wehbe, says Gator Domino’s digital changes are first of its kind among other Domino’s stores.
With the demand for tourism increasing in Florida, a record of 100 million visitors is predicted this year. Hotel construction as well as airport and seaport renovations are among the increase in tourism.
Know Where Coffee on West University Avenue plans to add beer and wine to its offerings in November. Its owner, Alfonso Guerrero, believes the expansion will be popular with college students, but researchers warn that mixing alcohol with coffee carries its own set of dangers.