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south florida real estate: South Florida real estate creeping back to normal - 05/15/12 09:12 AM
South Florida’s real estate market is creeping back toward a more normal era. But the trend might not last long.
New figures show bank-owned homes or those facing foreclosure no longer dominate the resale market, and homes for sale under normal circumstances now account for about half of real estate listings. That’s a switch from a year ago, when distressed properties accounted for 70 percent of listings.
“Normal sales are gaining traction,” said David Dabby, a real estate consultant in Coral Gables. “The normal market is separating itself.”
Douglas Elliman, a brokerage based in Miami Beach, issued a report Thursday showing … (1 comments)
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south florida real estate: South Florida real estate sales increase as available listings drops - 02/15/12 09:33 AM
This chart proves what I as a full time real estate broker have been seeing in the office. In Southern Florida buyers are picking up properties unlike they have in the past 5 years. With prices still at 2001 levels and sellers having long since given up on thinking their homes are worth what they were told in 2005-2006 more properties are turning over now more than ever in our recent past.
I am seeing some of the greatest deals occuring right now because if this level of buying persists and inventory remains low prices will naturally rise as … (1 comments)
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south florida real estate: Florida’s existing home and condo sales up in 4Q 2011 - 02/10/12 08:45 PM
Florida’s existing home and existing condo sales continued their positive trend in fourth quarter 2011, posting gains compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®.Existing home sales rose 7 percent in 4Q 2011 with a total of 42,038 homes changing hands statewide; during the same period the year before, a total of 39,355 homes sold, according to Florida Realtors. Statewide sales of existing condos in the fourth quarter rose 4 percent compared to the year-ago sales figure.Florida’s existing-home median sales price was $132,000 for the three-month period, down only 1 percent from … (0 comments)
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south florida real estate: South Florida Real Estate Inventory Update - 12/02/11 09:17 PM
Here is updated inventory graph of the past 18 months of real estate active and pending. As you can see the autumn has shown a leveling out of properties to find some kind of normalcy.
Sales in my local market (greater Fort Lauderdale) have seen an uptick since the Thanksgiving holiday as northern buyers begin to purchase property to enjoy the Florida winter.
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south florida real estate: South Florida Condo Update - 12/02/11 09:09 PM
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south florida real estate: Broward home sales up 13 percent - 11/28/11 08:50 AM
Sales of single-family homes and condominiums in Broward County rose 13 percent in the third quarter, according to a report from the Miami Association of Realtors. Sales prices saw a small increase as well, with a 3 percent jump in the median sales price of condos and a 1 percent rise in the median sales price of single-family homes.
This matches what we have seen in our Pompano Beach marketplace with a rising number of sales while prices are still low.
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south florida real estate: Retirees may fuel Florida's real estate recovery - 11/11/11 09:57 AM
The housing market is showing signs of improvement according to data released from Realtor.com. Within this year, in Florida which was one of the states hit hardest by the housing market crash, median list prices for single family homes, condos, townhomes, and co-ops surged.
Realtor.com studied 146 municipal areas and reported that four out of five markets that experienced the largest year-over-year increases in their median list price were in Florida. Interestingly, Florida also continues to rank high on the list for best places to retire. As the market is potentially springing back in Florida, retirees who are seeking lower taxes, cheap housing … (0 comments)
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south florida real estate: Will the drop in supply of real estate inventory affect prices soon? - 11/09/11 08:33 AM
As you can see from the graph above the number of homes available for sale in South Florida has dropped significantly over the last couple of years. Whereas pending sales has remained steady for the past 18 months. If inventory continues to fall to or below the 40,000 properties mark will property values rise to meet the steady demand?
The fundamentals that make South Florida a preferred place to buy property have not changed, with the exception of the price uncertainty that has plagued us in the recent past which means that logically prices could rise in the near future.
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south florida real estate: Stronger oversight for condos versus HOAs in Florida - 11/09/11 08:24 AM
If you own a condominium and believe a board member is committing fraud or was elected illegally, you can turn to a state regulatory agency for help — the Division of Florida Condominiums, Timeshares and Mobile Homes. But you're out of luck if you own a home in a Florida shared community.
If you want help understanding whether your condo association is responsible for repairing a roof, just contact the Office of the Condominium Ombudsman by phone, mail or online. But don't bother if you're a homeowner with a similar concern; there is no ombudsman looking out for you.
By contrast, … (0 comments)
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south florida real estate: Report finds that Broward County home prices bottomed 10 months ago - 10/28/11 08:24 AM
According to the Sun-Sentinel newspaper, Broward County home prices have already hit their valley, and are now showing stability and potential for growth.
The Sun-Sentinel noted that median home prices in the country have yet to drop lower than the $165,100 the Florida Association of Realtors reported in January, and have hovered between $188,800 and $196,000 between May and September. That is a good indication of stability. For comparison's sake median home prices in Palm Beach County have been volatile, and most of South Florida in general has experienced price declines from a year ago. Not so in Broward. "Most … (0 comments)
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south florida real estate: South Florida Foreclosure statistics - October 2011 - 10/22/11 02:07 PM
As of today, the number of foreclosures in South Florida year-to-date is 25,996, down from 51,700 at the same time last year, based on the most recent data available from Broward, Miami-Dade and Palm Beach counties. In the week ending today there were 794 foreclosures in South Florida, compared to 1,278 in the same week last year. The graph above shows foreclosure activity in South Florida's three counties.
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south florida real estate: Foreclosures in Florida drop by 59% in August - 09/23/11 05:48 PM
In a continuing trend, foreclosure filings in Florida fell 59 percent in August compared to the same period in 2010, according to data from RealtyTrac released today. There were a total of 23,569 properties with foreclosure filings in the state last month, a rate of one foreclosure filing for every 376 housing units. Nationally, foreclosures showed an increase in August. It was the second month in a row that Florida had seen a nearly 60 percent drop in foreclosure filings. Florida had the second-highest total of properties with foreclosure filings in the country after California. The dramatic decreases have been attributed to the … (1 comments)
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south florida real estate: South Florida homes at 2002 prices - 09/12/11 07:07 PM
Homes in South Florida were at the same levels in June as they were in 2002, according to the S&P/Case Shiller Home Price Index. South Florida's index was at 139.46, down from its peak of 280.8 in December 2006. "This month's report showed mixed signals for recovery in home prices," said David Blitzer, chairman of the index committee at S&P Indices. "No cities made new lows in June 2011." Homes in the tri-county area were up 0.6 percent from May, but down 5.1 percent from the same period in 2010. [Palm Beach Post]
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south florida real estate: South Florida's condo market recovering - 08/31/11 02:08 PM
The glut of pricey condominiums built during the housing boom is starting to clear in parts of South Florida, leading some observers to wonder whether a wave of new construction isn't far behind. Individual investors and bulk buyers in recent years have scooped up many of the units and are renting or reselling them now at drastically lower prices.
Elsewhere, as the inventory for existing condos declines more quickly, there are fewer good deals available and buyers say they want new units. But so far, developers and lenders remain leery of new condos because of big losses during the condo crash.
So will … (0 comments)
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south florida real estate: Florida foreclosure sales down by 22.4% - 08/30/11 08:23 AM
Foreclosures sales in Florida dropped 22.4 percent in the second quarter of the year compared to the same period in 2010, according to a report from foreclosure real estate listings database RealtyTrac released today. There were a total of 34,558 foreclosure sales in Florida in the second quarter, the second-highest number per state in the U.S., with an average sales price of $114,894. Nationally, foreclosure sales fell 11 percent from the second quarter of 2010, although they saw a 6.48 percent increase from the first quarter of 2011.
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south florida real estate: In Florida, sales are up and distressed property inventory goes down - 08/26/11 12:39 PM
Sales have been up in the two counties in every month this year compared to 2010. But what can we expect for the rest of the year?
As data last week from the Florida Realtors showed, home sales in Broward and Palm Beach counties remain strong even as the national numbers are hit and miss.
South Florida foreclosure sales are declining despite larger discounts for distressed properties, according to a second quarter report being released Thursday by real estate research firm RealtyTrac.
Distressed homes, foreclosures and short sales, continue to be popular properties in South Florida. Together they made up … (2 comments)
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south florida real estate: Florida’s existing home and condo sales went up in July as inventory drops - 08/23/11 09:05 AM
Florida’s existing home and existing condo sales rose in July, according to the latest housing data released by Florida Realtors. Existing home sales increased 12 percent last month with a total of 15,517 homes sold statewide compared to 13,874 homes sold in July 2010, according to Florida Realtors. Statewide sales of existing condos last month also rose 12 percent compared to the year-ago sales figure.
The year-to-year comparison for condos, 6,619 units sold statewide last month compared to 5,904 units in July 2010 for an increase of 12 percent. The statewide existing condo median sales price last month was … (0 comments)
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south florida real estate: Foreign Investors Snapping Up Florida Real Estate - 08/19/11 08:39 AM
According to the Associate Pressd, offshore investors are flocking to Florida's distressed real estate prices as major companies with ties to Hong Kong, Spain, Argentina and Malaysia are snapping up properties sensing the local market has bottomed.
Recent foreign investment has come from counties such as Argentina, Hong Kong, Mayalsia, Spain, and Brazil. Of course our offices has seen a great deal of investment from other countries as well that have been buying properties regularly in South Florida, specifically Canada and Venezuela. Yesterday, I received an email about an investor from Japan as well.
Fortunately as Americans worry about the … (0 comments)
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south florida real estate: 46% of South Florida homeowners underwater - 08/19/11 08:29 AM
More South Florida homeowners were underwater in their mortgages during the second quarter of 2011 compared to last year as home values struggled to stay buoyant. Roughly 46% of homeowners with mortgages in Palm Beach, Broward and Miami-Dade counties owe more on their loans than their homes are worth, according to real estate analysis from Zillow.com. Whereas nationwide negative equity was 27 percent in the second quarter, up from 22.5 percent last year.
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south florida real estate: Buying is cheaper than renting in most U.S. cities - 08/16/11 07:32 AM
According to a report by Trulia, demand for rent across the nation has created an effect where it is now less expensive to buy than to rent. This has become especially so as interest rates have fallen to near all time lows. With exceptions to the cities of New York, San Francisco and Seattle it is almost always less expensive to buy than rent. The statistics show that in 74% of the 50 largest cities in the US it is cheaper to buy.
Keep in mind that there are some other factors when deciding whether to rent or purchase...
How long … (3 comments)
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Randy Harden - South Florida Real Estate
Pompano Beach,
FL
More about me…
Wieder Realty, Inc.
Address: 1221 S Powerline Road, Pompano Beach, FL, 33069
Office Phone: (954) 979-9788
Cell Phone: (954) 580-2878
Email Me
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