Just How Low Can Interest Rates Fall? - 01/30/12 02:28 AM
Rates Keep Dropping; 7 Straight Weeks Below 4%
Interest rates continue to move to new low ground and for the first time ever we start the week with the average overnight rate on a 30 year fixed mortgage below 3.9%. The Fed announced last week that they intended to keep rates at exceptionally low levels for a longer projected period now described as “out to late 2014”. With downward pressure continuing, borrowers waiting to close on a property need to carefully think if locking rates 30 days out is their best option.
As of this morning, the average overnight rate for … (2 comments)

Welcome Reprieve in Palm Beach County Foreclosure Numbers - 01/29/12 02:03 PM
11th Straight Week of 3rd Party Bidder Supremacy Finally after 3 weeks of much higher foreclosure numbers in Palm Beach County a reprieve and who knows maybe the start of a reversal in trend. Our fourth full week of 2012 foreclosure auctions in Palm Beach County brought the number of weekly foreclosures below 200 for the first time in 7 weeks.  Third party vendors continue to grab a large percentage of the prizes to continue the trend of banks letting properties go to others.
 

 
The chart above shows you the six-month trend of foreclosures in Palm Beach County where … (1 comments)

Foreclosures in Palm Beach County Remain Higher in 2012 - 01/22/12 06:54 AM
10th Straight Week of 3rd Party Bidder Supremacy Our third full week of 2012 foreclosure auctions in Palm Beach County and the numbers once again show a continuation of higher foreclosure numbers. And once again the success rate of third party bidders remains high as well. Investors who play the auction game are snapping up bargains and continue to bid, bid, bid. We have projected a higher number of foreclosures for 2012 and so far the numbers seem to back this projection but we are still early into the game. We just finished our fourth week out of the previous five weeks … (1 comments)

2011 The Year in Review and What's Ahead in 2012?? - 01/16/12 07:10 AM
2011 Brought Us More Sales and Lower Prices; What About 2012?
 
Before January completely sneaks away I had to sit down and review where we have been and what my thoughts are moving ahead to another year in the south Florida real estate market. No doubt 2011 was a great step towards recovering to what one would consider a normal market but we certainly have a ways to go and a few bumps in the road ahead. For the purposes of this review I will be using the single family home market in Jupiter but if anyone needs the numbers … (3 comments)

Deja Vu - Interest Rates Set Another Brand New All Time Record Low - 01/15/12 11:05 AM
30 Year Fixed Interest Rates Stay Below 4% for 6th Record Week
At the onset of a new year we are always filled with anticipation for an amazing market in the 12 months staring us in the face. As 2011 was a great year of recovery in some respects we did start seeing some weakness over the past quarter. I am just putting the finishing touches on my year end recap and look ahead to 2012 and am still full of optimism in what we will see this year. Over the past couple days I have completed my 2nd article on … (2 comments)

Hobe Sound Lone Bright Spot with Increase in Pending Sales - 01/15/12 10:39 AM
Pending Home Sales Up 7% in Hobe Sound
South Florida real estate seems to be starting the new year off on the right foot, interest rates sit today at another record low, single family home sales in the region were up strongly in my last article and everyone in the office seems to be in such a great mood. The upcoming weeks are full of important meetings in my life at Keller Williams with a regional Agent Leadership Council meeting coming up in Davie and our annual Family Reunion we are so lucky to be holding in Orlando this year. Excited … (0 comments)

No Change in Juno Beach Pending Home Sales - 01/15/12 09:22 AM
Pending Home Sales Unchanged in Juno Beach
South Florida real estate seems to be starting the new year off on the right foot, interest rates sit today at another record low, single family home sales in the region were up strongly in my last article and everyone in the office seems to be in such a great mood. The upcoming weeks are full of important meetings in my life at Keller Williams with a regional Agent Leadership Council meeting coming up in Davie and our annual Family Reunion we are so lucky to be holding in Orlando this year. Excited to … (2 comments)

Tequesta Pending Home Sales Remain Close to 12-Month Average - 01/15/12 09:06 AM
Pending Home Sales Unchanged in Tequesta
South Florida real estate seems to be starting the new year off on the right foot, interest rates sit today at another record low, single family home sales in the region were up strongly in my last article and everyone in the office seems to be in such a great mood. The upcoming weeks are full of important meetings in my life at Keller Williams with a regional Agent Leadership Council meeting coming up in Davie and our annual Family Reunion we are so lucky to be holding in Orlando this year. Excited to sit … (0 comments)

Jupiter Pending Home Sales Down for the 7th Time in 8 Months - 01/15/12 08:45 AM
Pending Home Sales in Jupiter Fall Again
South Florida real estate seems to be starting the new year off on the right foot, interest rates sit today at another record low, single family home sales in the region were up strongly in my last article and everyone in the office seems to be in such a great mood. The upcoming weeks are full of important meetings in my life at Keller Williams with a regional Agent Leadership Council meeting coming up in Davie and our annual Family Reunion we are so lucky to be holding in Orlando this year. Excited to … (0 comments)

Pending Home Sales in Palm Beach Gardens Show Weakness - 01/15/12 08:14 AM
Pending Home Sales in Palm Beach Gardens of Concern
South Florida real estate seems to be starting the new year off on the right foot, interest rates sit today at another record low, single family home sales in the region were up strongly in my last article and everyone in the office seems to be in such a great mood. The upcoming weeks are full of important meetings in my life at Keller Williams with a regional Agent Leadership Council meeting coming up in Davie and our annual Family Reunion we are so lucky to be holding in Orlando this year. … (0 comments)

9th Straight Week of 3rd Party Supremcy at Palm Beach County Foreclosure Auctions - 01/13/12 05:35 PM
Palm Beach Foreclosures Have Another Big WeekFor those who monitor the traditional press you probably saw the article that was all over the Associated Press wires yesterday that 1,900,000 million homes entered the foreclosure process during 2011 and that was the lowest level since 2007 the first full after the real estate bubble popped. The article asked us to not get too excited as some of this slowdown was caused by the “robo-signing” debacle that caused the big stir and is still hanging over our heads.
 

 
For the second straight week the number of homes foreclosed on in … (2 comments)

Tequesta Single Family Home Sales Jump 57% - 01/12/12 07:29 AM
Tequesta Single Family Home Show Largest Gain Since February 2011As I sit down to finish up my final articles about the metrics of the 2011 south Florida real estate market I am excited about what the new year will bring. There are many positive signs and I am looking forward to finishing up this review of December sales in the region so we can put together the recap of 2011 and our projections for 2012. But first things first let’s see how things panned out in the final month of 2011. During December our real estate sales power rankings ended up … (1 comments)

Biggest Jump in North Palm Beach Home Sales in 5 Months - 01/12/12 06:53 AM
North Palm Beach Single Family Home Sales Jump 50%As I sit down to finish up my final articles about the metrics of the 2011 south Florida real estate market I am excited about what the new year will bring. There are many positive signs and I am looking forward to finishing up this review of December sales in the region so we can put together the recap of 2011 and our projections for 2012. But first things first let’s see how things panned out in the final month of 2011. During December our real estate sales power rankings ended up looking … (3 comments)

Big Month for Palm Beach Gardens Home Sales - 01/12/12 06:20 AM
Palm Beach Gardens Single Family Home Sales Jump 31%As I sit down to finish up my final articles about the metrics of the 2011 south Florida real estate market I am excited about what the new year will bring. There are many positive signs and I am looking forward to finishing up this review of December sales in the region so we can put together the recap of 2011 and our projections for 2012. But first things first let’s see how things panned out in the final month of 2011. During December our real estate sales power rankings ended up looking … (0 comments)

December Home Sale in Hobe Sound was Biggest of the Year - 01/12/12 05:45 AM
Hobe Sound Single Family Home Sales Jump 10%As I sit down to finish up my final articles about the metrics of the 2011 south Florida real estate market I am excited about what the new year will bring. There are many positive signs and I am looking forward to finishing up this review of December sales in the region so we can put together the recap of 2011 and our projections for 2012. But first things first let’s see how things panned out in the final month of 2011. During December our real estate sales power rankings ended up looking like … (1 comments)

Jupiter Single Family Home Sales Rebound in December - 01/12/12 05:06 AM
December Saw Pick Up in Jupiter Single Family Home SalesAs I sit down to finish up my final articles about the metrics of the 2011 south Florida real estate market I am excited about what the new year will bring. There are many positive signs and I am looking forward to finishing up this review of December sales in the region so we can put together the recap of 2011 and our projections for 2012. But first things first let’s see how things panned out in the final month of 2011. During December our real estate sales power rankings ended up … (0 comments)

December North Palm Beach County Real Estate Sales Strong with 1 Exception - 01/12/12 04:42 AM
Juno Beach Condominium Sales Dreary During DecemberAs I sit down to finish up my final articles about the metrics of the 2011 south Florida real estate market I am excited about what the new year will bring. There are many positive signs and I am looking forward to finishing up this review of December sales in the region so we can put together the recap of 2011 and our projections for 2012. But first things first let’s see how things panned out in the final month of 2011. During December our real estate sales power rankings ended up looking like this;    #1 … (0 comments)

We Start 2012 Off with Another rRecord Low in Interest Rates - 01/11/12 05:06 PM
30 Year Fixed Interest Rates Stay Below 4% for 5th Record Week
Are we spoiled or what? Interest rates drop to yet another all time record low and nobody seems to notice. Big deal, rates on a 30 year fixed mortgage stay below the magic 4% threshold for a record 5 weeks. The Fed earlier this week made a rather big announcement that they will start this month to publish “policymakers forecasts” which will include when interest rates will rise. This is a move they hope will give the economic recovery more legs by providing better long term planning and many … (2 comments)

2012 Starts Off with a Roar in the Foreclosure World - 01/11/12 04:34 PM
Palm Beach Foreclosures Hit a 35 Week HighThose of you who regularly read my articles know that two factors that I continually talk about that will have a big effect on how much strength the market will carry into the new year are the shortage of quality inventory and just how big the “shadow inventory” is. The Palm Beach County Clerk reports that last week’s foreclosure numbers may certainly help the inventory problem while adding to the “shadow inventory” problem.
 

 
We can hope that improvement in the overall economy will continue and being an election year one would … (1 comments)

No Homes Available For Sale in Florida. We HAVE Recovered! - 01/05/12 06:32 PM
No homes for sale in the Island at Abacoa; none, zippo, nada, zilch, zero!
 
Here is a picture of our middle baby, Kiwi, as she looked over a number of homes for sale in the Island at Abacoa back in 2008. If she was looking today she would see that things have changed, man oh man have they changed. 
 
We are still a few days away from me finding the time to complete my 2011 market wrap and look forward to what should be another great year for south Florida real estate. Working on the numbers I knew that … (3 comments)

Interest Rates are a Girl's Best Friend - 01/02/12 03:47 PM
30 Year Fixed Interest Rates Stay Below 4% for 4th Record Week

 A very Happy New Year to everyone and may 2012 be a year full of blessings in your life. The old saying goes a diamond is a girls best friend but if that girl is out shopping for a new home or planning on refinancing her current home I do believe these low rates are actually a better friend. As we start off a new year with fewer homes to choose from and the prospect of higher prices better than we have seen in 6 years the current interest … (5 comments)

Tequesta Begins Year with Promising Home Inventory News - 01/01/12 04:02 PM
Nice Reduction in Tequesta Inventory Levels Happy New Year. January 1st has finally arrived and with it the anticipation of another year and what to expect in the south Florida real estate market. Looking back there is no doubt that we made great strides during 2011 in returning to somewhat normal conditions. In about a week we will be putting together our year end review and I think everyone will be happy to see how strong our foundation is compared to a year ago.
One metric that we closely watch and bring to you on a monthly basis is the changes to … (1 comments)

Jupiter Home Inventory Levels Starting 2012 Off on Solid Footing - 01/01/12 12:23 PM
Jupiter Inventory Levels Retreat; Pricing Pressure Ahead?Happy New Year. January 1st has finally arrived and with it the anticipation of another year and what to expect in the south Florida real estate market. Looking back there is no doubt that we made great strides during 2011 in returning to somewhat normal conditions. In about a week we will be putting together our year end review and I think everyone will be happy to see how strong our foundation is compared to a year ago.
One metric that we closely watch and bring to you on a monthly basis is the changes … (0 comments)

Palm Beach Gardens Inventory Levels Drop Again - 01/01/12 11:50 AM
Palm Beach Gardens Home Buyers Once Again Have Fewer ChoicesHappy New Year. January 1st has finally arrived and with it the anticipation of another year and what to expect in the south Florida real estate market. Looking back there is no doubt that we made great strides during 2011 in returning to somewhat normal conditions. In about a week we will be putting together our year end review and I think everyone will be happy to see how strong our foundation is compared to a year ago.
One metric that we closely watch and bring to you on a monthly basis … (1 comments)

Housing Inventory in Hobe Sound Increases for the 1st Time in 3 Months - 01/01/12 09:35 AM
Hobe Sound Housing Inventory Levels Remain Near Recent LowsHappy New Year. January 1st has finally arrived and with it the anticipation of another year and what to expect in the south Florida real estate market. Looking back there is no doubt that we made great strides during 2011 in returning to somewhat normal conditions. In about a week we will be putting together our year end review and I think everyone will be happy to see how strong our foundation is compared to a year ago.
One metric that we closely watch and bring to you on a monthly basis is … (1 comments)

Juno Beach Kicks Off 2012 with a 4% Growth in Home Inventory - 01/01/12 09:15 AM
Juno Beach Housing Inventory Levels Increase for 3rd Straight MonthHappy New Year. January 1st has finally arrived and with it the anticipation of another year and what to expect in the south Florida real estate market. Looking back there is no doubt that we made great strides during 2011 in returning to somewhat normal conditions. In about a week we will be putting together our year end review and I think everyone will be happy to see how strong our foundation is compared to a year ago.
One metric that we closely watch and bring to you on a monthly basis … (0 comments)

 

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