Interest Rates Up Slightly for the 2nd Straight Week - 01/30/11 05:55 AM
For the second straight week, we have seen an increase in the 30 year fixed rate but again in was a small one of only 4 basis points. It has been 6 weeks since we last saw back to back increases but certainly we are not seeing the volatility in the markets and rates seem to be “settling” in to a tighter trading range. As of this morning, the average overnight rate for a 30 year fixed rate sits at 4.84% up from the 4.80% we were at a week ago. Remember this is the average overnight rate and those with … (1 comments)

Palm Beach County Foreclosure Auctions Remain Steady - 01/29/11 07:28 AM
Back to the normal work week schedule and a full slate of foreclosure auctions in Palm Beach County. While we saw an increase from the previous week it was mainly due to the shortened auction week of Martin Luther King Day and the overall number remained lower than some recent spikes.
 
The chart above represents the actual foreclosure sales for each week over the past six month period. We do have historical numbers going back since on-line auctions began so if anyone wants that information please contact me at your convenience. Please note that the numbers shown represent the total … (0 comments)

Anatomy of a Foreclosure in Today's Real Estate Market - 01/27/11 02:49 PM
 

 
 
Today I saw another great new bank owned foreclosure listing hit the market at $424,900 and I thought it would make great fodder to take a look at the anatomy of a REO listing and what an asset a good Realtor® is to a buyer.
 
Typically, before a foreclosure hits the market there is a long series of events that brought us to this point. In this case the home was last purchased on July 23, 2003 for $437,000 and was last marketed as a short sale a little late in the foreclosure game. It was … (0 comments)

Interest Rates Jump for the 1st Time in 3 Weeks - 01/24/11 09:03 AM
 
Interest rates jump for the first time in 3 weeks.
 
We began 2011 with a slight increase in the overnight rate on a 30 year fixed mortgage and until last week it had been all downhill. But, as of this morning, the average overnight rate for a 30 year fixed rate sits at 4.82% up for the 1st time in 3 weeks and the highest weekly overnight rate we have seen since January 9th. Remember this is the average overnight rate and those with good credit will still be able to lock in rates below these averages.
 
The … (2 comments)

Foreclosures Drop Again in Palm Beach County - 01/24/11 08:38 AM
 
Martin Luther King Day brought the total number of foreclosure auctions down to four last week in Palm Beach County. Even with a shortened schedule the auction numbers were lower than one would expect.
 
A relatively new phenomena I thought we had been seeing of third party bidders winning a much larger number of the auctions each week is finally being addressed and I have put together a chart of that success rate. It does appear that third party bidders are seeing more success as during the September, October and November period we had been seeing that average in … (1 comments)

What's a Good Boat Dock Worth Today; 65' Jupiter Foreclosure Worth Watching - 01/17/11 11:55 AM
 

 
Need space for your 65' boat? I have been keeping an interested eye on a dock in Jupiter as it is a foreclosure that has already been on the market for 94 days. Originally listed at $159,900 back in October they have been chopping the price $10,000 a crack about every thirty days. The last price reduction took it down to $129,900 which is just about a 50% discount to the last sale back in September 2008. Not sure how closely dock sales mirrored the overall real estate market but this last sale was a good 2.5 to … (0 comments)

Tequesta Pending Home Sales Pull Back Slightly - 01/17/11 10:40 AM
 

 
 
Pending and contingent home sales data are very important metrics when determining how strong real estate sales will be in the months ahead. I like to carefully review this information for each of the communities where I am most active on at least a monthly basis as it gives me a heads up on what the future might bring for my clients. 
 
When a bilateral contract is entered into there are typically contingencies, historically mainly for home inspections and financing, but in today’s world more often that not they are short sales waiting for third party, … (0 comments)

Great Month for Palm Beach Gardens Pending Home Sales - 01/17/11 07:46 AM
 

 
Pending and contingent home sales data are very important metrics when determining how strong real estate sales will be in the months ahead. I like to carefully review this information for each of the communities where I am most active on at least a monthly basis as it gives me a heads up on what the future might bring for my clients. 
 
When a bilateral contract is entered into there are typically contingencies, historically mainly for home inspections and financing, but in today’s world more often that not they are short sales waiting for third party, or … (1 comments)

Interest Rates Down Again for the 3rd Time in 4 Weeks - 01/16/11 04:52 AM
 

 
 
Rates drop over 10 basis points for the 3rd time in a month!
 
We began 2011 with a slight increase in the overnight rate on a 30 year fixed mortgage and since then it has been all downhill. As of this morning, the average overnight rate for a 30 year fixed rate sits at 4.76% down another 10 full basis points from where we were a week ago at 4.86%. This is the second significant weekly drop in a row bringing us back down from the 5.02% on January 2nd. Remember this is the average overnight … (1 comments)

Nice Jump Reported in Jupiter Pending Home Sales - 01/15/11 05:22 PM
 

 
Pending and contingent home sales data are very important metrics when determining how strong real estate sales will be in the months ahead. I like to carefully review this information for each of the communities where I am most active on at least a monthly basis as it gives me a heads up on what the future might bring for my clients. 
 
When a bilateral contract is entered into there are typically contingencies, historically mainly for home inspections and financing, but in today’s world more often that not they are short sales waiting for third party, or … (0 comments)

Pending Home Sales Down in Juno Beach - 01/15/11 04:53 PM
 

 
 
Pending and contingent home sales data are very important metrics when determining how strong real estate sales will be in the months ahead. I like to carefully review this information for each of the communities where I am most active on at least a monthly basis as it gives me a heads up on what the future might bring for my clients. 
 
When a bilateral contract is entered into there are typically contingencies, historically mainly for home inspections and financing, but in today’s world more often that not they are short sales waiting for third party, … (0 comments)

Pending Home Sales Slow in Hobe Sound - 01/15/11 04:35 PM
 

 
 
Pending and contingent home sales data are very important metrics when determining how strong real estate sales will be in the months ahead. I like to carefully review this information for each of the communities where I am most active on at least a monthly basis as it gives me a heads up on what the future might bring for my clients. 
 
When a bilateral contract is entered into there are typically contingencies, historically mainly for home inspections and financing, but in today’s world more often that not they are short sales waiting for third party, … (0 comments)

Palm Beach County Foreclosure Auctions Pick up Steam - 01/14/11 04:21 PM
 

 
Back to the normal work week schedule and as nice as all of the November and December holidays are I really enjoy this time of year. The Palm Beach County Clerk was busy this week recording the 6th highest weekly total of foreclosures over the past 6 months. 
 
Since the five day schedule is a relatively new format it will be worthwhile to keep watching the actual foreclosure numbers as we move through the year. A relatively new phenomena is the success we have recently been seeing of third party bidders winning a much larger number of … (0 comments)

Tequesta Home Sales Down but Median Prices Up - 01/14/11 08:42 AM
 
Interest rates have been down the first couple weeks of the new year which is a most welcome reprieve from the hikes we had seen the last few weeks of 2010. Today, we are taking our last look at sales levels in some of our market areas for last year and in Tequesta single family home sales were the most disappointing in the region; by far. While most of the area communities saw very strong increases in sales in Tequesta we saw just the opposite. During December our local MLS system shows a total of 5 successful closings as of … (0 comments)

Palm Beach Gardens Single Family Home Sales Jump Over 44% - 01/14/11 06:43 AM
 
December homes sales in Palm Beach Gardens like many of her neighboring communities were SPECTACULAR!
 
Welcome to our first sales report of 2011 and what a way to start off the new year. Interest rates were down the first two weeks of the year and now I have the pleasure to report that December single family home sales in Palm Beach Gardens jumped off the chart from November levels. It also was the third highest sales month of 2010 and a sign that things are moving in the right direction. During December our local MLS system shows a total … (0 comments)

December was a BIG Month for Home Sales in North Palm Beach - 01/13/11 05:38 AM
December homes sales in North Palm Beach were SPECTACULAR!
 
 
Welcome to our first sales report of 2011 and what a way to start off the new year. Interest rates were down the first week of the year and now I have the pleasure to report that December single family home sale in North Palm Beach jumped off the chart from November levels. It also was tied as our second highest sales month of 2010 and a sign that things are moving in the right direction. During December our local MLS system shows a total of 14 successful closings as … (0 comments)

Jupiter Single Family Home Sales Jump 8% in December - 01/13/11 04:55 AM
 
December single family homes sales in Jupiter were SPECTACULAR!
 
 
Welcome to our first sales report of 2011 and what a way to start off the new year. Interest rates were down the first week of the year and now I have the pleasure to report that December single family home sale in Jupiter jumped over 8% from November levels. It also was our highest sales month since September and a sign that things are moving in the right direction. During December our local MLS system shows a total of 63 successful closings as of this mornings’ update. That … (0 comments)

Juno Beach Condominium Sales Remain Flat in December - 01/13/11 04:18 AM
Interest rates have been down the first couple weeks of the new year which is a most welcome reprieve from the hikes we had seen the last few weeks of 2010. Today, we are taking our last look at sales levels in some of our market areas for last year and in Juno Beach condominium sales were flat. During December our local MLS system shows a total of 2 successful closings as of this mornings’ update. That compares with 2 sales in November and in fact is the third month in a row we have been stuck on that number.
Sales … (0 comments)

Hobe Sound Home Sales Jump 100%; Highest in Over a Year - 01/10/11 07:39 AM
December single family homes sales in Hobe Sound were SPECTACULAR!
 
 
Welcome to our first sales report of 2011 and what a way to start off the new year. Interest rates were down the first week of the year and now I have the pleasure to report that December single family home sale in Hobe Sound jumped 100% from November levels. It also tied us for the highest sales month of the year with April when sales were boosted by the expiring tax credit. No boost here from the government just an incredibly strong month of sales. During December our … (0 comments)

Sub 5% Interest Rates Putting up a Fight; Largest Drop in 13 weeks - 01/09/11 08:55 AM
 

 
Sub 5% interest rates aren’t giving up without a fight!
 
 
We began 2011 with a slight increase in the overnight rate on a 30 year fixed mortgage bringing us back up slightly above the 5% threshold. As of this morning, the average overnight rate for a 30 year fixed rate sits at 4.86% down a full 16 basis points from where we were a week ago at 5.02%. This is the largest weekly drop we have experienced in 13 weeks and is great news for those locking in rates. Remember this is the average overnight rate … (2 comments)

Palm Beach County Foreclosure Auctions Back to Normal Schedule - 01/08/11 02:11 PM
 
 

 
With the holidays in the rearview mirror it is back to our now normal 5 day foreclosure auction schedule in Palm Beach County. Initial foreclosure filings in Palm Beach County have been going down for the first time in almost 4 years so we may actually be starting to see a glimmer of light at the end of the tunnel.
 
Since the five day schedule is a relatively new format it will be worthwhile to keep watching the actual foreclosure numbers as we move through the year. A relatively new phenomena is the success we have … (0 comments)

Palm Beach Gardens Home Prices Increase for the 1st Time in Five Years! - 01/04/11 04:02 PM
 

 
 
Talk about good news, no make that GREAT news; the median priced single family home has increased in value for the first time in FIVE YEARS!
 
 
SWEET!
 
 
As we have discussed in past reports it appears, looking at longer term charts of historical prices of Palm Beach Gardens single family homes, that we have reached a solid base over the past 18 months. At the least a very significant slow down in the pricing decline has occurred and it is important that we keep a closer eye on where prices head from here. … (4 comments)

The New Year Begins with Slight Uptick in Interest Rates - 01/02/11 09:02 AM
 

 
 
 
Welcome to the New Year! Here at “Results Driven Real Estate” we are looking forward to bringing you the latest numbers affecting the local real state market.
 
We begin 2011 with a slight increase in the overnight rate on a 30 year fixed mortgage bringing us back up slightly above the 5% threshold. As of this morning, the average overnight rate for a 30 year fixed rate sits at 5.02% up 5 basis points from where we were a week ago at 4.97%. Remember this is the average overnight rate and those with good credit … (3 comments)

Tequesta Inventory Levels Continue Their Historic Slide - 01/01/11 06:57 AM
 

 
 
Welcome to the New Year of 2011. It should be an another amazing year for the local real estate markets and we look forward to bringing you the latest market statistics. Following the inventory levels is extremely important as it is the “supply” end of the equation that tells us where prices may be heading. As the supply of homes decreases and demand stays even we will see pricing increases. Tune in next week to see where prices have gone over the past year and you might be surprised.
 
The Tequesta Net Inventory Index decreased during … (1 comments)

Palm Beach Gardens Home Inventory Hits Year Long Low - 01/01/11 06:40 AM
 

 
 
Welcome to the New Year of 2011. It should be an another amazing year for the local real estate markets and we look forward to bringing you the latest market statistics. Following the inventory levels is extremely important as it is the “supply” end of the equation that tells us where prices may be heading. As the supply of homes decreases and demand stays even we will see pricing increases. Tune in next week to see where prices have gone over the past year and you might be surprised.
 
The Palm Beach Gardens Net Inventory Index … (1 comments)

Jupiter Home Inventory Drops for the 4th Time in 5 Months - 01/01/11 06:26 AM
 

 
 
Welcome to the New Year of 2011. It should be an another amazing year for the local real estate markets and we look forward to bringing you the latest market statistics. Following the inventory levels is extremely important as it is the “supply” end of the equation that tells us where prices may be heading. As the supply of homes decreases and demand stays even we will see pricing increases. Tune in next week to see where prices have gone over the past year and you might be surprised.
 
The Jupiter Net Inventory Index decreased during … (0 comments)

Juno Beach Inventory Level Remains Near 12 Month Lows - 01/01/11 05:53 AM
 

 
Welcome to the New Year of 2011. It should be an another amazing year for the local real estate markets and we look forward to bringing you the latest market statistics. Following the inventory levels is extremely important as it is the “supply” end of the equation that tells us where prices may be heading. As the supply of homes decreases and demand stays even we will see pricing increases. Tune in next week to see where prices have gone over the past year and you might be surprised.
 
The Juno Beach Net Inventory Index increased during … (0 comments)

Hobe Sound Inventory Levels Drop for the 1st Time in 4 Months - 01/01/11 05:23 AM

 
 
 
Welcome to the New Year of 2011. It should be an another amazing year for the local real estate markets and we look forward to bringing you the latest market statistics. Following the inventory levels is extremely important as it is the “supply” end of the equation that tells us where prices may be heading. As the supply of homes decreases and demand stays even we will see pricing increases. Tune in next week to see where prices have gone over the past year and you might be surprised.
 
The Hobe Sound Net Inventory Index decreased … (1 comments)

 

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