Imagine you have a pre-approved mortgage for the buyer, a 20% down payment, contract and two parties that want to get the deal done at the set upon price-- what could possibly go wrong?
Well, the appraisal may not come back as hoped. Generally, lenders will finance only 80% of the appraised value. If the agreed upon price is $220,000 and the home appraises for $200,000, then we might have a problem.
The buyer would have to come up with another $20,000 more cash in the above example, the sellers would have to reduce the asking price by $20,000, or there would need to be some combination.
If the sellers stick to their price and the buyers cannot supply extra cash or refuse to come up with the extra money, the deal could die.
A lesson leared for both buyers and sellers.
My buyers and sellers know the market and are versed on the home. We know if the home is priced too high, the appraisal may not allow the deal to happen.
I only target those homes that make sense-- I leave the others to stagnate on the market. Either they will become realistic and come back to me or they will most likely be left on the market. Mis-priced homes and unrealistic expectations does not allow either party to acheive their respective goals.
For more information, please feel free to contact me. For free home searches and market data, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Wednesday, December 21, 2011
Prediction For US Housing Market In 2012: Homes For Sale: Homes For Rent
There are about 6 million US homeowners who are delinquent 30 days or more, according to LPS Applied Analytics. A recent survey showed almost half of all homes sold in the US were distressed properties. We have seen prices decrease during the past year.
Given all of this evidence leads me to believe we will not see an improvement in US home prices during 2012. In addition to inventory levels, the combination of persistent high unemployment, uncertainty related to upcoming elections, the sluggish US economy, stricter mortgage lending standards, and the economic concerns in Europe will all lead to more stagnation (at best) for US home prices, in my view.
Please reference prior posts on why it may be a good time to purchase a home, despite all I mentioned above.
Those who have time to wait, might want to do so prior to buying.
Sellers on the other hand, should be realistic as to the current circumstances and aggressively market and price their homes in order to have a chance at a successful sale.
Please feel free to contact me for more information. For free home searches and market data, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Given all of this evidence leads me to believe we will not see an improvement in US home prices during 2012. In addition to inventory levels, the combination of persistent high unemployment, uncertainty related to upcoming elections, the sluggish US economy, stricter mortgage lending standards, and the economic concerns in Europe will all lead to more stagnation (at best) for US home prices, in my view.
Please reference prior posts on why it may be a good time to purchase a home, despite all I mentioned above.
Those who have time to wait, might want to do so prior to buying.
Sellers on the other hand, should be realistic as to the current circumstances and aggressively market and price their homes in order to have a chance at a successful sale.
Please feel free to contact me for more information. For free home searches and market data, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Foreclosure and Short Sales Price Differential: Homes For Sale: Homes For Rent
Foreclosures and short sales combined for almost half of all US homes sales in November 2011, according to a survey by Campbell/Inside Mortgage Finance company. The number was 46% to be exact.
We have posted data on sales discounts for distressed properties: here is some of the latest data.
The average short sale sold for about 19.3% less than those sold by conventional home sales in the US. For more informaiton about short-sales, please see prior entries.
The average forclosed home that was deemed to be "move-in" condition was 26.6% below a conventional home sale in the US.
The average price for a damaged foreclosed home was 62% less than the conventional home sale in the US.
There is plenty of distressed property in the current inventory. I would not be surprised if 2012 was another year of large amounts of distressed property sales.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
We have posted data on sales discounts for distressed properties: here is some of the latest data.
The average short sale sold for about 19.3% less than those sold by conventional home sales in the US. For more informaiton about short-sales, please see prior entries.
The average forclosed home that was deemed to be "move-in" condition was 26.6% below a conventional home sale in the US.
The average price for a damaged foreclosed home was 62% less than the conventional home sale in the US.
There is plenty of distressed property in the current inventory. I would not be surprised if 2012 was another year of large amounts of distressed property sales.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Saturday, December 10, 2011
Home Vacancy And Home Ownership Rates: Homes For Sale: Homes For Rent
The US Census Bureau put out some interesting housing data recently. I will comment on two areas: home vacancy rates and home ownership.
Vacancy Rates
The number of vacant homes increased 44% during the decade of the 2000s. Home vacancies were about 15 million in 2010, up from around 10.4 million in 2000.
The 15 million vacant homes represents about 11.4% of all the housing units in the country. These units represent almost the total amount of new homes built during the decade; the US increased the number of housing units by 16 million in the 10-year period, according to the US Cencus Bureau.
During the past decade, Florida's home vacancies increased 62%, Arizona 61%, Georgia 63% and Nevada 120%. As a percentage of total homes in the market, the top three states were: Florida had about 17.5% vacant, Vermont was at about 21% and Maine was highest at about 23%.
Home Ownership Rates
Home ownership saw the biggest drop since the Great Depression in the US. Home ownership was 65.1% in April 2010, which was about 1.1% below the rate in the year 2000. The biggest decade drop was 4.2% in the 1930s.
The real story is home ownership dropped almost as low as the great depression at about 4%. The percentage decline was about a 4% drop in the six year period from 2004 to 2010; this compares to the 1.1% drop for the decade 2000-2010 (as referenced above). Home ownership was almost 70% in 2004, according to the US Census Bureau, and fell quickly in the last 6 years of the decade ending 2010.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Vacancy Rates
The number of vacant homes increased 44% during the decade of the 2000s. Home vacancies were about 15 million in 2010, up from around 10.4 million in 2000.
The 15 million vacant homes represents about 11.4% of all the housing units in the country. These units represent almost the total amount of new homes built during the decade; the US increased the number of housing units by 16 million in the 10-year period, according to the US Cencus Bureau.
During the past decade, Florida's home vacancies increased 62%, Arizona 61%, Georgia 63% and Nevada 120%. As a percentage of total homes in the market, the top three states were: Florida had about 17.5% vacant, Vermont was at about 21% and Maine was highest at about 23%.
Home Ownership Rates
Home ownership saw the biggest drop since the Great Depression in the US. Home ownership was 65.1% in April 2010, which was about 1.1% below the rate in the year 2000. The biggest decade drop was 4.2% in the 1930s.
The real story is home ownership dropped almost as low as the great depression at about 4%. The percentage decline was about a 4% drop in the six year period from 2004 to 2010; this compares to the 1.1% drop for the decade 2000-2010 (as referenced above). Home ownership was almost 70% in 2004, according to the US Census Bureau, and fell quickly in the last 6 years of the decade ending 2010.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Thursday, December 8, 2011
Case-Shiller Index: September 2011: Slight Downward Trend Continues: Homes For Sale: Homes For Rent
The September 2011 Case-Shiller Index on housing showed a similar trend of slight price reductions. The nation experienced a home price decline of about 3.5% year-over-year in September and about 0.5% sequentially.
The South Florida market saw a 4.0% year-over-year decrease in September 2011 and a 0.7% drop on a sequential basis.
Most tend to agree an improved job market is needed in order to get some positive movement on home prices in the US.
Washington, DC area continues to outperform the rest of the country. The federal government is one area where spending has continued and that is where home prices are on the rise. I think this is more than just a coincidence. The rest of the country needs to experience private sector job growth in order to get things moving again, in my view.
Other areas of interest:
September 2011 September/August August/July
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 154.39 -0.8% -0.1% -1.2%
Chicago 118.49 -0.8% 1.4% -5.0%
Miami 139.83 -0.7% -0.3% -4.0%
Minneapolis 114.65 -0.9% 0.3% -7.4%
New York 169.92 0.1% 0.5% -2.6%
Tampa 127.37 -1.5% 0.0% -6.7%
Composite-10 155.73 -0.4% 0.2% -3.3%
Composite-20 141.97 -0.6% 0.1% -3.6%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The South Florida market saw a 4.0% year-over-year decrease in September 2011 and a 0.7% drop on a sequential basis.
Most tend to agree an improved job market is needed in order to get some positive movement on home prices in the US.
Washington, DC area continues to outperform the rest of the country. The federal government is one area where spending has continued and that is where home prices are on the rise. I think this is more than just a coincidence. The rest of the country needs to experience private sector job growth in order to get things moving again, in my view.
Other areas of interest:
September 2011 September/August August/July
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 154.39 -0.8% -0.1% -1.2%
Chicago 118.49 -0.8% 1.4% -5.0%
Miami 139.83 -0.7% -0.3% -4.0%
Minneapolis 114.65 -0.9% 0.3% -7.4%
New York 169.92 0.1% 0.5% -2.6%
Tampa 127.37 -1.5% 0.0% -6.7%
Composite-10 155.73 -0.4% 0.2% -3.3%
Composite-20 141.97 -0.6% 0.1% -3.6%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Delray Beach, Florida: Country Club: Addison Reserve: Homes For Sale: Homes For Rent
The Addison Reserve Country Club in Delray Beach, Florida recently renovated its club to the tune of $18 million.
In order to fund the $18 million upgrade, club members paid $18,000 each. The clubhouse is now 70,000 square feet as members added 20,000 square feet to the existing clubhouse of 50,000 square feet.
Among the changes is new restaurants, a tapas bar, lounges, a wine room and upgraded HDTVs (10 in total). The five restaurants are based on themes that include a seafood and steakhouse, a bar / lounge, an Italian restaurant. The club also welcomes chefs Daniel Boulud and Zach Bell, which helps to upgrade the stature of the restaurants.
Addison Reserve is a luxury community with 718 homes, which range in price from $400,000 to $3 million. The membership dues are $115,000 for golf members to join and $85,000 for sports members to sign up. The annual dues are $20,000 for golf and $15,000 for sports.
For more information on Addison Reserve you can go to their Web-site or contact me directly. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
In order to fund the $18 million upgrade, club members paid $18,000 each. The clubhouse is now 70,000 square feet as members added 20,000 square feet to the existing clubhouse of 50,000 square feet.
Among the changes is new restaurants, a tapas bar, lounges, a wine room and upgraded HDTVs (10 in total). The five restaurants are based on themes that include a seafood and steakhouse, a bar / lounge, an Italian restaurant. The club also welcomes chefs Daniel Boulud and Zach Bell, which helps to upgrade the stature of the restaurants.
Addison Reserve is a luxury community with 718 homes, which range in price from $400,000 to $3 million. The membership dues are $115,000 for golf members to join and $85,000 for sports members to sign up. The annual dues are $20,000 for golf and $15,000 for sports.
For more information on Addison Reserve you can go to their Web-site or contact me directly. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Friday, November 25, 2011
Reduction In South Florida Housing Inventory: Homes For Sale: Homes For Rent
The South Florida real estate market is still a "buyer's market;" however, there is more competition for the homes on the market.
CondoVultures, a consulting firm, reports the South Florida housing inventory is down 58% from Thanksgiving weekend in 2008.
Broward County has seen its inventory reduced by 64% and Miami-Dade is down 63%. Better news for those seeking homes in Palm Beach County, which saw only a 45% decline in housing inventory since 2008.
A reduced pace of foreclosures and an influx of foreign buyers are largely credited with the reduction in for-sale inventory of homes.
I am noticing this trend in the markets recently as I have been working with clients in: Boynton Beach, Boca Raton and Delray Beach. The circle of homes that I deem to be "gems" has slimmed down and my clients are focused on those that remain. I am advising clients to move quickly if they see something they want to own.
As a local Realtor, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
CondoVultures, a consulting firm, reports the South Florida housing inventory is down 58% from Thanksgiving weekend in 2008.
Broward County has seen its inventory reduced by 64% and Miami-Dade is down 63%. Better news for those seeking homes in Palm Beach County, which saw only a 45% decline in housing inventory since 2008.
A reduced pace of foreclosures and an influx of foreign buyers are largely credited with the reduction in for-sale inventory of homes.
I am noticing this trend in the markets recently as I have been working with clients in: Boynton Beach, Boca Raton and Delray Beach. The circle of homes that I deem to be "gems" has slimmed down and my clients are focused on those that remain. I am advising clients to move quickly if they see something they want to own.
As a local Realtor, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Tuesday, November 22, 2011
South Florida Home Sales For October 2011: Homes For Sale: Homes For Rent
The volume of home sales has been picking up in South Florida during 2011. One reason believed to be helping the market is the foreign investors have found the market attractive. These buyers tend to have a longer-term outlook and think the inventory in the region is affordable.
Palm Beach County saw sales of existing homes increase 27% in October 2011 over October 2010. The increase was 16% for Broward County during the same timeframe.
However, the increase in sales came at a lower median price. Palm Beach County's median sales price in October 2010 was 16% off of October 2011. The median sales price declined 7% in Broward County on a year-over-year basis during October 2011.
As a local Realtor, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Palm Beach County saw sales of existing homes increase 27% in October 2011 over October 2010. The increase was 16% for Broward County during the same timeframe.
However, the increase in sales came at a lower median price. Palm Beach County's median sales price in October 2010 was 16% off of October 2011. The median sales price declined 7% in Broward County on a year-over-year basis during October 2011.
As a local Realtor, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Sunday, November 13, 2011
Case-Shiller Index August 2011: More Of The Same: Homes For Sale: Homes For Rent
The US housing market as measured by the Case-Shiller Index shows relatively steady prices on a sequential basis and slight year-over-year declines in August 2011. There was a 0.2% increase in the major Case-Shiller composites in August 2011 over July 2011. On a year-over-year basis, the major composites showed about a 3.5% decline in August 2011.
The average home price in the US were back to the levels in mid-2003. The average US home, when measured from their peak in June/July 2006, are down about 31.0%.
The South Florida market was down about 0.3% on a sequential basis in August 2011 and down about 4.6% on a year-over-year basis.
Some other markets of interest were as follows:
August 2011 August/July July/June
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 155.59 -0.1% 0.8% -1.7%
Chicago 119.40 1.4% 1.9% -5.8%
Miami 140.75 -0.3% 1.2% -4.6%
Minneapolis 115.62 0.4% 2.7% -8.5%
New York 169.19 0.4% 1.2% -3.4%
Tampa 129.51 -0.1% 0.8% -5.8%
Composite-10 156.36 0.2% 0.8% -3.5%
Composite-20 142.84 0.2% 0.9% -3.8%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The average home price in the US were back to the levels in mid-2003. The average US home, when measured from their peak in June/July 2006, are down about 31.0%.
The South Florida market was down about 0.3% on a sequential basis in August 2011 and down about 4.6% on a year-over-year basis.
Some other markets of interest were as follows:
August 2011 August/July July/June
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 155.59 -0.1% 0.8% -1.7%
Chicago 119.40 1.4% 1.9% -5.8%
Miami 140.75 -0.3% 1.2% -4.6%
Minneapolis 115.62 0.4% 2.7% -8.5%
New York 169.19 0.4% 1.2% -3.4%
Tampa 129.51 -0.1% 0.8% -5.8%
Composite-10 156.36 0.2% 0.8% -3.5%
Composite-20 142.84 0.2% 0.9% -3.8%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
How Much Mortgage Can We Afford?: Homes For Sale: Homes For Rent
In my work as a Realtor, when I deal with buyers seeking a home, a main issue is the mortgage. Especially in the current market, where a mortgage is not as easy to obtain as they once were, being approved for a mortgage is important.
I have contacts in the mortgage world and can put you in touch with some, should you require a mortgage and/or have specific questions. However, I will address some of the basics.
Most prospective homeowners can assume they will be approved for a mortgage that costs between 2 times and 2 and half times their gross income. Meaning, a person earning $100,000 per year can afford to mortgage about $200,000 to $250,000; this is a rule of thumb.
A downpayment of at least 20% of the purchase price is generally required. Many first time prospective homeowners are having this requirement as one of the major obstacles.
Be aware of the percentage of your yearly gross income that will go towards your mortgage each month. The total of the mortgage principal and interest payment, home taxes and housing insurance should NOT exceed 28% of your gross monthly income.
Your debt situation will also be scrutinized. Your gross income to cover your debts should not be more than 36%. The debts include your mortgage, credit cards, child support and other loan payments. If you earn $100,000 per year, the most you should have in debt-related expenses should be $3,000. To calculate this, multiply your gross income by 0.36 and divide by 12.
For more specific questions, you can contact me. If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
www.langrealty.com/agents/michael-friedman
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
I have contacts in the mortgage world and can put you in touch with some, should you require a mortgage and/or have specific questions. However, I will address some of the basics.
Most prospective homeowners can assume they will be approved for a mortgage that costs between 2 times and 2 and half times their gross income. Meaning, a person earning $100,000 per year can afford to mortgage about $200,000 to $250,000; this is a rule of thumb.
A downpayment of at least 20% of the purchase price is generally required. Many first time prospective homeowners are having this requirement as one of the major obstacles.
Be aware of the percentage of your yearly gross income that will go towards your mortgage each month. The total of the mortgage principal and interest payment, home taxes and housing insurance should NOT exceed 28% of your gross monthly income.
Your debt situation will also be scrutinized. Your gross income to cover your debts should not be more than 36%. The debts include your mortgage, credit cards, child support and other loan payments. If you earn $100,000 per year, the most you should have in debt-related expenses should be $3,000. To calculate this, multiply your gross income by 0.36 and divide by 12.
For more specific questions, you can contact me. If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
www.langrealty.com/agents/michael-friedman
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Tuesday, November 1, 2011
Banks To Offer Own Refinancing Plan?: Homes For Sale: Homes For Rent
The Wall Street Journal recently reported the large US banks are working on a plan that would make mortgage refinancing available to "underwater" homeowners. Those borrowers with houses that are worth less than their loans would be eligible so long as they are current on mortgage payments.
The plan is reportedly to be for mortgages owned by the banks. The WSJ said officials in the US federal government are trying to work with the five largest mortgage servicers: Ally Financial; Bank of America; Citigroup; JP Morgan Chase; and Wells Fargo.
The federal government has some leverage in trying to negotiate a legal settlement over alleged foreclosure abuses. Beyond reaching an equitable settlement, the federal government is attempting to stabilize the US housing market. The reasoning being that a reduction in distressed properties will help provide a floor to housing prices.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
www.langrealty.com/agents/michael-friedman
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The plan is reportedly to be for mortgages owned by the banks. The WSJ said officials in the US federal government are trying to work with the five largest mortgage servicers: Ally Financial; Bank of America; Citigroup; JP Morgan Chase; and Wells Fargo.
The federal government has some leverage in trying to negotiate a legal settlement over alleged foreclosure abuses. Beyond reaching an equitable settlement, the federal government is attempting to stabilize the US housing market. The reasoning being that a reduction in distressed properties will help provide a floor to housing prices.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
www.langrealty.com/agents/michael-friedman
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Thursday, October 20, 2011
Low-Ball Offers: Homes For Sale: Homes For Rent
In order to increase your chances of having a low-ball offer accepted, buyers need to keep several things in mind.
My suggestion is to find a property that has been on the market for a while; 12 months or more is a good start.
The purchaser needs to have a good idea of the current market. Understanding the local market and recent industry trends is a must. Finding a Realtor who is versed in the subject is important, in my view. You can utilize this Blog as a source to get an idea and I encourage you to follow up with me for more detailed information.
Having the right representative negotiate the deal is also important. Being versed in the industry and having the necessary negotiating skills to consummate the deal is also key.
All of this leads to being able to deliver the message with facts to back up the offer. Someone with analytical skills to dissect the situation and deliver the offer with factual information will help to get a low-ball deal done.
The offer needs to be direct and concise without leaving much ambiguity. Making a clean and strong offer helps to "grease the wheels" to get this type of deal to the finish line.
The buyer also needs to have a final number in mind and know when to get to the final and best offer you are willing to make. This allows the agent to be able to negotiate in a fluid manner and not seem uncertain. As mentioned earlier, the offer needs to be clean and negotiations need to get directly to the bottom line.
The buyer must be pre-qualified and or have proof of cash funds. The buyer should not believe cash will ultimately win. Sellers are looking for the most they can get. If it means going with a pre-qualified buyer rather than a cash deal, then so be it. The point is, cash buyers should not be too overconfident.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
www.langrealty.com/agents/michael-friedman
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
My suggestion is to find a property that has been on the market for a while; 12 months or more is a good start.
The purchaser needs to have a good idea of the current market. Understanding the local market and recent industry trends is a must. Finding a Realtor who is versed in the subject is important, in my view. You can utilize this Blog as a source to get an idea and I encourage you to follow up with me for more detailed information.
Having the right representative negotiate the deal is also important. Being versed in the industry and having the necessary negotiating skills to consummate the deal is also key.
All of this leads to being able to deliver the message with facts to back up the offer. Someone with analytical skills to dissect the situation and deliver the offer with factual information will help to get a low-ball deal done.
The offer needs to be direct and concise without leaving much ambiguity. Making a clean and strong offer helps to "grease the wheels" to get this type of deal to the finish line.
The buyer also needs to have a final number in mind and know when to get to the final and best offer you are willing to make. This allows the agent to be able to negotiate in a fluid manner and not seem uncertain. As mentioned earlier, the offer needs to be clean and negotiations need to get directly to the bottom line.
The buyer must be pre-qualified and or have proof of cash funds. The buyer should not believe cash will ultimately win. Sellers are looking for the most they can get. If it means going with a pre-qualified buyer rather than a cash deal, then so be it. The point is, cash buyers should not be too overconfident.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
www.langrealty.com/agents/michael-friedman
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Saturday, October 8, 2011
Deficiency Judgments, Foreclosures and Short Sales: Why You Should Consider A Short Sale: Homes For Sale: Homes For Rent
A lawyer who defends against foreclosure is recently quoted as saying there was "a false sense of calm" amoung homeowners that went through foreclosure. He added, "that's changing."
Lenders typically have five years following a foreclosure sale to sue for the remaining mortgage debt. Most states allow 20 years to try and collect the debts. Depending on the state, the debt owed grows at about an 8% interest rate.
Florida is among the biggest deficiency-judgment states. Since the start of 2007, Florida has had more foreclosures than any other state that allows deficiency judments with more than 9% of the US total, according to Lender Processing Services, Inc.
Sharon Bock, clerk and comptroller of Palm Beach County, Florida expects "a massive wave of these cases as banks start selling the judgments to debt collectors."
Forty-one states and the District of Columbia permit lenders to sue borrowers for mortgage debt still left after the foreclosure sale. Some lenders say they are most likely to seek a deficiency judgment against those they believe are "strategic defaulters" who chose to stop paying because the property lost a lot of value.
The Wall Street Journal reported the average "deficiency amount" was $100,000 in the US. This is the amount by which foreclosure sales fell below the loan balance.
A short-sale, if negotiated properly, would have the lender agree to waive its right to try and recover the "deficiency". There are criteria that need to be met to qualify for a short sale and a requirement is to list the property with a broker. The lenders require the property be marketed to a wide audience and listing with a Realtor will help in this regard.
I can help with the short sale process and we can work together towards a successful short sale.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Lenders typically have five years following a foreclosure sale to sue for the remaining mortgage debt. Most states allow 20 years to try and collect the debts. Depending on the state, the debt owed grows at about an 8% interest rate.
Florida is among the biggest deficiency-judgment states. Since the start of 2007, Florida has had more foreclosures than any other state that allows deficiency judments with more than 9% of the US total, according to Lender Processing Services, Inc.
Sharon Bock, clerk and comptroller of Palm Beach County, Florida expects "a massive wave of these cases as banks start selling the judgments to debt collectors."
Forty-one states and the District of Columbia permit lenders to sue borrowers for mortgage debt still left after the foreclosure sale. Some lenders say they are most likely to seek a deficiency judgment against those they believe are "strategic defaulters" who chose to stop paying because the property lost a lot of value.
The Wall Street Journal reported the average "deficiency amount" was $100,000 in the US. This is the amount by which foreclosure sales fell below the loan balance.
A short-sale, if negotiated properly, would have the lender agree to waive its right to try and recover the "deficiency". There are criteria that need to be met to qualify for a short sale and a requirement is to list the property with a broker. The lenders require the property be marketed to a wide audience and listing with a Realtor will help in this regard.
I can help with the short sale process and we can work together towards a successful short sale.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The Luxury Home Market Is Recovering, Unlike The Rest Of The US Market: Homes For Sale: Homes For Rent
If you follow retail sales trends, the luxury retailers are fairing better than the others. The housing market is behaving the same way in the US. The luxury sector of the market is showing increased unit sales and prices; the rest of the market is either flatlining or continuing on a slow downward trend.
Zillow reports the "luxury" housing market is occupied by 1.5% of the US population. According to Zillow, prices of homes in the $1 million and up range have risen 0.7% since February 2011, while prices of homes less than $1 million have decreased 1.5%.
Zillow's economic chief economist has said, "luxury is the best performing segment of the housing market right now."
One main factor is foreign buyers are interested in these properties. Many foreigners believe the US housing market is very attractively priced. These buyers are cash buyers and enjoying the value proposition of the weakening US Dollar.
Luckily, being in the South Florida and specializing in luxury homes, I have seen an increase in activity. In Florida, international buyers account for about 33% of purchases, which is up from 10% in 2007.
I work with clients around the country and the world through the Internet and e-mail. It is remarkable how much can be accomplished over the Internet. By eliminating many properites prior to coming to Florida, it makes the time we have more productive. My out of market clients are well versed in the local market, have selected several homes to view and understand pricing. In other words, they are fully prepared to make a purchase on arrival.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Zillow reports the "luxury" housing market is occupied by 1.5% of the US population. According to Zillow, prices of homes in the $1 million and up range have risen 0.7% since February 2011, while prices of homes less than $1 million have decreased 1.5%.
Zillow's economic chief economist has said, "luxury is the best performing segment of the housing market right now."
One main factor is foreign buyers are interested in these properties. Many foreigners believe the US housing market is very attractively priced. These buyers are cash buyers and enjoying the value proposition of the weakening US Dollar.
Luckily, being in the South Florida and specializing in luxury homes, I have seen an increase in activity. In Florida, international buyers account for about 33% of purchases, which is up from 10% in 2007.
I work with clients around the country and the world through the Internet and e-mail. It is remarkable how much can be accomplished over the Internet. By eliminating many properites prior to coming to Florida, it makes the time we have more productive. My out of market clients are well versed in the local market, have selected several homes to view and understand pricing. In other words, they are fully prepared to make a purchase on arrival.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Housing Starts Continue To Fall: Is A Bottom Being Formed In US Housing Market?: Homes for Sale: Homes For Rent
The US Commerce Department reported builders are slowing down the number of new homes being built. Housing starts dropped 5% in August 2011 with a 571,000 annual rate of build, according to the US Commerce Department.
New home construction is being constrained by high unemployment rates, a glut of foreclosed and empty homes and declining home prices. Tighter lending standards by banks and a lack of consumer confidence is also hampering new home construction in the US.
The inactivity of new homes being build is a natural reaction to the glut of homes on the market currently. The inventory levels need to be thinned out before a price rebound can occur, in our view. As this process occurs, we expect consumer confidence to improve should the US economy begin to show signs of growth. Should economic activity pickup, we expect more lending and a rebound in the US housing market.
The question is when will all of this occur? It is very hard to predict any market and calling the "bottom" is not an easy task. However, when it comes to housing and you plan on living in the home for at least 10 years, now is a good time to purchase a home, in our view (please see earlier posts for reasoning).
The market is diffcult to predict-- if you are looking to buy, sell, rent or lease a home, now might be a good time to take action.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
New home construction is being constrained by high unemployment rates, a glut of foreclosed and empty homes and declining home prices. Tighter lending standards by banks and a lack of consumer confidence is also hampering new home construction in the US.
The inactivity of new homes being build is a natural reaction to the glut of homes on the market currently. The inventory levels need to be thinned out before a price rebound can occur, in our view. As this process occurs, we expect consumer confidence to improve should the US economy begin to show signs of growth. Should economic activity pickup, we expect more lending and a rebound in the US housing market.
The question is when will all of this occur? It is very hard to predict any market and calling the "bottom" is not an easy task. However, when it comes to housing and you plan on living in the home for at least 10 years, now is a good time to purchase a home, in our view (please see earlier posts for reasoning).
The market is diffcult to predict-- if you are looking to buy, sell, rent or lease a home, now might be a good time to take action.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
South Florida Housing Trends: Some Positive Numbers For August 2011: Homes For Sale: Homes For Rent
Miami-Dade and Broward Counties showed some positive home sales trends in August 2011.
Existing conco sales in Miami-Dade were up 51% from last year and 18% on a sequential basis in August 2011. Single-family homes had a 49% year-over-year increase and a 9% sequential uptick.
In Broward County, annual sales increased 21% for existing condos and single family homes rose 19% in August 2011.
When looking at the pricing there were upward trends as well. Miami-Dade existing condos sold at a 13% increase in August 2011 over August 2010; single family homes dipped 1%.
Broward's median price for existing condos rose by 6% in August 2011 on a year-over-year basis and single family home prices increased 5%.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Existing conco sales in Miami-Dade were up 51% from last year and 18% on a sequential basis in August 2011. Single-family homes had a 49% year-over-year increase and a 9% sequential uptick.
In Broward County, annual sales increased 21% for existing condos and single family homes rose 19% in August 2011.
When looking at the pricing there were upward trends as well. Miami-Dade existing condos sold at a 13% increase in August 2011 over August 2010; single family homes dipped 1%.
Broward's median price for existing condos rose by 6% in August 2011 on a year-over-year basis and single family home prices increased 5%.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Wednesday, October 5, 2011
How Much Time Does A Homeowner Have To Do A Short Sale? Homes For Sale: Homes For Rent
There are more than four million homes in the US either in foreclosure or 90 days or more late with payments in August 2011, according to published reports.
Many of these homeowners fall into the criteria for a short sale, which could allow for debt foregiveness under certain circumstances. Short sales are advantageous when compared with foreclosure for many reasons.
With a large amount of bad loans, lenders have had to prioritize which homes to target and the others have languished in the foreclosure process.
Once borrowers start missing payments, they spend an average of one year and nine months (611 days) in the foreclosure process before lenders repossess the homes, according to LPS Mortgage Monitor. The average was 523 days a year ago and 251 days three years ago.
The length of time to repossess a foreclosed home has been increasing as the numbers above indicate. Bottlenecks are worse in judicial states where foreclosures are processed through the court system. In non-judicial states foreclosures take about six months less time when compared with judicial states.
I can help with the short sale process and we can work together towards a successful short sale.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Many of these homeowners fall into the criteria for a short sale, which could allow for debt foregiveness under certain circumstances. Short sales are advantageous when compared with foreclosure for many reasons.
With a large amount of bad loans, lenders have had to prioritize which homes to target and the others have languished in the foreclosure process.
Once borrowers start missing payments, they spend an average of one year and nine months (611 days) in the foreclosure process before lenders repossess the homes, according to LPS Mortgage Monitor. The average was 523 days a year ago and 251 days three years ago.
The length of time to repossess a foreclosed home has been increasing as the numbers above indicate. Bottlenecks are worse in judicial states where foreclosures are processed through the court system. In non-judicial states foreclosures take about six months less time when compared with judicial states.
I can help with the short sale process and we can work together towards a successful short sale.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
South Florida Homes For Sale Declining: Homes For Sales: Homes For Rent
Believe it or not the number of homes and condominiums for sale have decreased in South Florida during 2011. In fact, the number of single family homes and condos on the market was about half of what was available in October 2011 versus October 2010.
As I have been telling clients, homes that are priced right are getting offers, even in this sluggish housing market. Inventory levels are an important factor in determining price.
More good news for those looking to sell their homes in South Florida: CoreLogic reported shadow inventory levels of homes for sale declined to 1.6 million in July 2011, which was at 1.9 million a year ago. Shadow inventory is a hiddden supply of homes that are likely to come on the market as a result of foreclosures.
Let's not get too excited yet. One factor is the reduction of foreclosures due to the "robo-signer" controversy. Lenders seem to be getting over the hump on this issue and are starting the foreclosure process more quickly.
In addition, high level of under water mortgages and a sluggish labor market should cause an increase in both foreclosures and shadow inventory.
The market is diffcult to predict-- if you are looking to buy, sell, rent or lease a home, now might be a good time to take action.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
As I have been telling clients, homes that are priced right are getting offers, even in this sluggish housing market. Inventory levels are an important factor in determining price.
More good news for those looking to sell their homes in South Florida: CoreLogic reported shadow inventory levels of homes for sale declined to 1.6 million in July 2011, which was at 1.9 million a year ago. Shadow inventory is a hiddden supply of homes that are likely to come on the market as a result of foreclosures.
Let's not get too excited yet. One factor is the reduction of foreclosures due to the "robo-signer" controversy. Lenders seem to be getting over the hump on this issue and are starting the foreclosure process more quickly.
In addition, high level of under water mortgages and a sluggish labor market should cause an increase in both foreclosures and shadow inventory.
The market is diffcult to predict-- if you are looking to buy, sell, rent or lease a home, now might be a good time to take action.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Saturday, October 1, 2011
Short Sale Real Estate Transactions Losing Appeal? Homes For Sale Homes For Rent
Although my own experience working with clients has varied, short sales seem to be losing some appeal. The reason is buyers are complaining the sale transaction process is taking too long.
I can attest recently that my clients decided to forego their offer when the second extension period had lapsed. On the flip side of the coin, recently I have had satisfied customers who had a relatively quick turnaround time and enjoyed the discounted price the short sale offered.
The approval time for short sales can take several months after the potential buyers submits an offer. According to the HousingPulse Tracing Survey, the average time for short sales is 16.6 weeks. The survey found the majority of this time is spent waiting for approval from the lenders.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
I can attest recently that my clients decided to forego their offer when the second extension period had lapsed. On the flip side of the coin, recently I have had satisfied customers who had a relatively quick turnaround time and enjoyed the discounted price the short sale offered.
The approval time for short sales can take several months after the potential buyers submits an offer. According to the HousingPulse Tracing Survey, the average time for short sales is 16.6 weeks. The survey found the majority of this time is spent waiting for approval from the lenders.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Saturday, September 17, 2011
More Foreclosures In August 2011: Homes For Sale: Homes For Rent
The trend continues as more homeowners fell behind on their mortgages, according to Realty Trac, an online marketer of foreclosed properties. Foreclosure filings were up 7.0% in August 2011 over July 2011. However, this is 33.0% below August 2010.
A bellwether for the future is the 33.0% rise in default notices on a sequential basis in August 2011. This is the beginning of the foreclosure process.
Some experts believe lenders are beginning a new push after being slowed down by the "robo-signing" issue last fall.
I find buyers are still focused on the distressed market with foreclosures being the choice over short-sales. I think the reason is primarily two-fold: lower price and less time to get approval.
Surprisingly, Florida was not in the top-three of states hardest hit by foreclosures. Nevada was number one in August, followed by California and then Arizona.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
A bellwether for the future is the 33.0% rise in default notices on a sequential basis in August 2011. This is the beginning of the foreclosure process.
Some experts believe lenders are beginning a new push after being slowed down by the "robo-signing" issue last fall.
I find buyers are still focused on the distressed market with foreclosures being the choice over short-sales. I think the reason is primarily two-fold: lower price and less time to get approval.
Surprisingly, Florida was not in the top-three of states hardest hit by foreclosures. Nevada was number one in August, followed by California and then Arizona.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Sunday, September 4, 2011
Hamlet Country Club in Delray Beach: Quarterly Update: Homes For Sale: Homes For Rent
The Hamlet Country Club community has a world-class golf and country club located in the heart of Delray Beach, Florida.
Located on Atlantic Avenue, minutes from the oceanic charm of Downtown Delray, the Hamlet Country Club is a gated community of quaint to estate properties surrounding one of the finest private golf courses in Palm Beach County. Club amenities, including an 18-hole championship golf course, complete practice facilities, a full service Clubhouse, Har-Tru tennis courts and a fitness center, are available to both Resident and Non Resident members.
During the past twelve months we estimate the average sold information for a single family home is as follows:
3 bedrooms
2 bathrooms
2,795 square feet
$231,000 sales price
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Located on Atlantic Avenue, minutes from the oceanic charm of Downtown Delray, the Hamlet Country Club is a gated community of quaint to estate properties surrounding one of the finest private golf courses in Palm Beach County. Club amenities, including an 18-hole championship golf course, complete practice facilities, a full service Clubhouse, Har-Tru tennis courts and a fitness center, are available to both Resident and Non Resident members.
During the past twelve months we estimate the average sold information for a single family home is as follows:
3 bedrooms
2 bathrooms
2,795 square feet
$231,000 sales price
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Thursday, September 1, 2011
Consumer Confidence, A Factor To Follow In The Housing Market: Homes For Sale: Homes For Rent
As we have discussed, one the important factors to follow in the housing market is consumer confidence. The more confident the consumer, the more likely there will be increased demand in the housing market.
The Conference Board, an industry group, said its index of consumer confidence dropped to 44.5 in August 2011 from 59.2 the month before. This is the lowest level in two years.
With consumers being more cautious, we would expect the housing market to show an increased level of softness. Indications are the buyer's market will continue into the near-term, in our opinion. The recent economic data, along with a deterioration in consumer confidence seems to point to sequential price reductions in the housing market, in our view. However, we do not anticipate large drops as was the case during the beginning the of "bubble" deflating.
We think this means those seeking to sell their homes need to price attractively and market aggressively. Qualified buyers should remain in the "driver's seat" for the foreseeable future.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The Conference Board, an industry group, said its index of consumer confidence dropped to 44.5 in August 2011 from 59.2 the month before. This is the lowest level in two years.
With consumers being more cautious, we would expect the housing market to show an increased level of softness. Indications are the buyer's market will continue into the near-term, in our opinion. The recent economic data, along with a deterioration in consumer confidence seems to point to sequential price reductions in the housing market, in our view. However, we do not anticipate large drops as was the case during the beginning the of "bubble" deflating.
We think this means those seeking to sell their homes need to price attractively and market aggressively. Qualified buyers should remain in the "driver's seat" for the foreseeable future.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Your Credit Score, Getting A Mortgage, Renting And Buying A Home: Homes For Sale: Homes For Rent
Your credit score is important when looking to lease, rent out or purchase a home. According to CreditKarma.com, the threshold to be approved for a mortgage is a 660 credit score. The 660 score is also the threshold to be approved for unsecured credit, according to CreditKarma.com. I think this is also a good number to use when you are a landlord looking to approve a tenant or a tenant seeking to lease a home.
According to CreditKarma.com, about 40% of consumers have a credit below 660. This means that 4 out of 10 Americans would likely be denied for a mortgage. Obviously this hurts demand and weakens the overall housing market.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
According to CreditKarma.com, about 40% of consumers have a credit below 660. This means that 4 out of 10 Americans would likely be denied for a mortgage. Obviously this hurts demand and weakens the overall housing market.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Wednesday, August 31, 2011
Case Shiller Index June 2011: Mixed Signals: Homes For Sale: Homes For Rent
On a national basis, the Case Shiller Index showed a sequential improvement in 2Q:11 from the 1Q:11 low, but still posted an annual decline of 5.9% versus 2Q:10. Nationally, home prices are back to levels seen in 2003.
David Blitzer, the chairman of the Index Committe at S & P Indeces implied there are mixed signals on the housing market throughout the country. He suggests that we are in a state of regional housing markets, as opposed to a "national market" where everything rose and fell together.
The South Florida region showed a 0.6% sequential drop home prices in June 2011 over May 2011; this compares with a 1.1% average increase for the nation. On a year-over-year basis, the price of the average home fell 5.1% in June 2011 versus June 2010; and this compares with an average 4.5% year-over-year decrease for the nation.
Some areas of interest were as follows:
June 2011 June/May May/April
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 154.47 2.4% 2.6% -2.1%
Chicago 115.61 3.2% 1.7% -7.4%
Cleveland 100.68 1.5% 1.2% -6.1%
Miami 139.46 0.6% 1.2% -5.1%
Minneapolis 112.31 3.2% 2.7% -10.8%
New York 166.59 0.9% 0.7% -3.6%
Tampa 128.90 1.3% 0.7% -7.0%
Composite-10 154.88 1.1% 1.0% -3.8%
Composite-20 141.30 1.1% 1.0% -4.5%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
David Blitzer, the chairman of the Index Committe at S & P Indeces implied there are mixed signals on the housing market throughout the country. He suggests that we are in a state of regional housing markets, as opposed to a "national market" where everything rose and fell together.
The South Florida region showed a 0.6% sequential drop home prices in June 2011 over May 2011; this compares with a 1.1% average increase for the nation. On a year-over-year basis, the price of the average home fell 5.1% in June 2011 versus June 2010; and this compares with an average 4.5% year-over-year decrease for the nation.
Some areas of interest were as follows:
June 2011 June/May May/April
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 154.47 2.4% 2.6% -2.1%
Chicago 115.61 3.2% 1.7% -7.4%
Cleveland 100.68 1.5% 1.2% -6.1%
Miami 139.46 0.6% 1.2% -5.1%
Minneapolis 112.31 3.2% 2.7% -10.8%
New York 166.59 0.9% 0.7% -3.6%
Tampa 128.90 1.3% 0.7% -7.0%
Composite-10 154.88 1.1% 1.0% -3.8%
Composite-20 141.30 1.1% 1.0% -4.5%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Saturday, August 13, 2011
Is Now A Good Time To Buy A Home?: Homes For Sale: Homes For Rent
Is now a good time to buy a home? I think the answer is yes IF: you have a stable job and expect to live in the home for 10 years or more. Yes, interest rates could fall a bit more and prices as well-- but if you plan to live in your new home for 10 years or more, I think the benefits of buying near-term would outweigh the costs at this time.
Let's look at some of the factors in making such a decision:
Interest rates: Now is a good time to buy on interest rates alone. As mortgage interest rates rise, purchasing power falls. Rates are near historic lows right now.
The Federal Reserve will eventually raise some benchmark rates and it also has a large portfolio of mortgage securities to sell off in the future-- this will put upward pressure on rates.
Also, inflation is beginning to rise and some analysts think it will continue to creep upward. As inflation increases, lenders will want to hedge against the US Dollar being worth less-- and will raise interest rates as a means to that end.
Home Prices: The banks are trying to keep home prices from plummeting by slowly releasing distressed properties into the market. The predictions on home prices vary from a minimal decline from here to another 25% decrease. But, this is a very local issue that needs to be looked at carefully in the area of interest.
When the market does hit a bottom, it will most likely not rally like we had seen in the "bubble" period. The real annual return on a home is approximately the rate of inflation. Therefore, homebuyers should not be investors looking to "flip" homes for a profit, in my view.
Lastly, even if prices were to decline further a rising interest rate might wipe away as much purchasing power if you wait.
Mortgages: Banks have tightened their lending requirements post-bubble. A bigger downpayment is required and your credit history is very important. Currently the government guarantees over 90% of the mortgages in the market. The government will most likely begin backing away from this practice and when it does will most likely require about 20% as a downpayment.
Financial Situation: The housing market will most likely continue to be soft in the coming years. The sale of a home will not be quick or easy, most likely. It is important to purchase a home you feel you will be able to afford for a while and you should not stretch your budget to afford it.
Also, the buy versus rent argument goes that rents may rise while your fixed mortgage costs will not. A fixed interest rate mortgage is a good hedge for inflation because inflation will cause wage increases; this coupled with your fixed costs will help make it easier to afford the payments.
Again, if you are economically stable and plan to live in the home for 10 years or more, I think now is a good time to take advantage of the current advantageous affordability levels of homeownership.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Let's look at some of the factors in making such a decision:
Interest rates: Now is a good time to buy on interest rates alone. As mortgage interest rates rise, purchasing power falls. Rates are near historic lows right now.
The Federal Reserve will eventually raise some benchmark rates and it also has a large portfolio of mortgage securities to sell off in the future-- this will put upward pressure on rates.
Also, inflation is beginning to rise and some analysts think it will continue to creep upward. As inflation increases, lenders will want to hedge against the US Dollar being worth less-- and will raise interest rates as a means to that end.
Home Prices: The banks are trying to keep home prices from plummeting by slowly releasing distressed properties into the market. The predictions on home prices vary from a minimal decline from here to another 25% decrease. But, this is a very local issue that needs to be looked at carefully in the area of interest.
When the market does hit a bottom, it will most likely not rally like we had seen in the "bubble" period. The real annual return on a home is approximately the rate of inflation. Therefore, homebuyers should not be investors looking to "flip" homes for a profit, in my view.
Lastly, even if prices were to decline further a rising interest rate might wipe away as much purchasing power if you wait.
Mortgages: Banks have tightened their lending requirements post-bubble. A bigger downpayment is required and your credit history is very important. Currently the government guarantees over 90% of the mortgages in the market. The government will most likely begin backing away from this practice and when it does will most likely require about 20% as a downpayment.
Financial Situation: The housing market will most likely continue to be soft in the coming years. The sale of a home will not be quick or easy, most likely. It is important to purchase a home you feel you will be able to afford for a while and you should not stretch your budget to afford it.
Also, the buy versus rent argument goes that rents may rise while your fixed mortgage costs will not. A fixed interest rate mortgage is a good hedge for inflation because inflation will cause wage increases; this coupled with your fixed costs will help make it easier to afford the payments.
Again, if you are economically stable and plan to live in the home for 10 years or more, I think now is a good time to take advantage of the current advantageous affordability levels of homeownership.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Case Shiller Predictions For Home Prices In The US, Miami-Area And Fort Lauderdale Area: Homes For Sale: Homes For Rent
Case Shiller now predicts the US housing market will continue to see price declines into 2013. Case Shiller believes US home prices will be on par with prices in 1Q:11 in 1Q:13.
Case Shiller expects median home prices in the US to fall by an average of 3.1% between March 31, 2011 and March 31, 2012. After that, it expects to see prices increase by 2.7% until 1Q:13.
The reasons for this prediction is the weak job market and expectation for an economic recovery in the US. They point out the percentage of Americans who have jobs reached a 28-year low in July 2011. As a result, they argue despite attractive housing affordability, too few people can take advantage because of tightened lending standards.
With respect to two markets of interest: Miami metro area and the Fort Lauderdale metro area:
Case Shiller forecasts a further 22.8% decline over the next 24 months ending in March 30, 2013 in the Miami metro area(this is after prices fell 54% from the peak).
Case Shiller forecasts another 18.9% decline in home prices in the Fort Lauderdale area over the next 24 months ending in March 30, 2013.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Case Shiller expects median home prices in the US to fall by an average of 3.1% between March 31, 2011 and March 31, 2012. After that, it expects to see prices increase by 2.7% until 1Q:13.
The reasons for this prediction is the weak job market and expectation for an economic recovery in the US. They point out the percentage of Americans who have jobs reached a 28-year low in July 2011. As a result, they argue despite attractive housing affordability, too few people can take advantage because of tightened lending standards.
With respect to two markets of interest: Miami metro area and the Fort Lauderdale metro area:
Case Shiller forecasts a further 22.8% decline over the next 24 months ending in March 30, 2013 in the Miami metro area(this is after prices fell 54% from the peak).
Case Shiller forecasts another 18.9% decline in home prices in the Fort Lauderdale area over the next 24 months ending in March 30, 2013.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Banks Have A New Weapon In Dealing With Homes On Which It Has Foreclosed-- Bulldozers: Homes For Sale: Homes For Rent
With nearly 1.7 million homes in the US in some state of foreclosure and more coming on the horizon, some economists worry home prices will be depressed for years to come. How do we reduce the supply-- one way is with a bulldozer.
Some of the least valuable homes are being demolished. For instance, Bank of America recently announced plans to demolish 100 foreclosed homes in Cleveland; the land will be donated to local municipalities. JP Morgan Chase has beeen donating homes it could not sell or were not repairable.
Why would the banks do this? Once the property is donated no more tax or upkeep expenses are required. The lender may also be able to write-off the donation. Municipalities like it becasue they get free land to develop or leave as open space. The market may have a chance to stablize quicker because there is less inventory keeping prices depressed.
The fact that the banks are attempting to do something might be a good sign for the future. With undesireable, distressed homes lingering on the market, it is taking 9 1/2 months for the current number of homes on the market to sell at the end of June 2011; a healthy supply is six months of sales, according to many experts.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Some of the least valuable homes are being demolished. For instance, Bank of America recently announced plans to demolish 100 foreclosed homes in Cleveland; the land will be donated to local municipalities. JP Morgan Chase has beeen donating homes it could not sell or were not repairable.
Why would the banks do this? Once the property is donated no more tax or upkeep expenses are required. The lender may also be able to write-off the donation. Municipalities like it becasue they get free land to develop or leave as open space. The market may have a chance to stablize quicker because there is less inventory keeping prices depressed.
The fact that the banks are attempting to do something might be a good sign for the future. With undesireable, distressed homes lingering on the market, it is taking 9 1/2 months for the current number of homes on the market to sell at the end of June 2011; a healthy supply is six months of sales, according to many experts.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Number Of Contracts On Homes Increased And So Did Cancellations: Homes For Sale: Homes For Rent
More potential home buyers signed contracts in May 2011 on both a sequential and year-over-year basis, according to the National Association of Realtors (NAR). Pending home sales rose 2.4% in May over April 2011 and an increase of 30% over June 2010, according to NAR.
However, NAR also noted a huge jump in cancellations of pending home sale contracts. In May 2011 about 16% of contracts did not make it to a closing, which compares with the normal rate of about 4%, according to NAR.
Some reasons why: uncertainty about job security and the US economy; increased time needed to obtain financing; tighter underwriting restrictions; longer time to get appraisals completed; and the increased popularity of short-sales, which take longer than normal sales-- which causes some potential buyers to cancel as well.
The positive is potential homeowners are being more active. However, some of the same issues still remain: economy, financing and the patience required for distressed property sales.
If the potential homebuyer is aware of some of these potential issues, it will be easier for them to make a more firm commitment from the outset. That is why I try to educate my clients looking to purchase a home from the beginning of our journey of finding a suitable new home.
It is also important for my clients who are selling their homes to be aware of these issues as well. We try to mitigate the potential for problems later on in the process by bringing to light these same issues with the prospective buyer at the first sign of interest.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
However, NAR also noted a huge jump in cancellations of pending home sale contracts. In May 2011 about 16% of contracts did not make it to a closing, which compares with the normal rate of about 4%, according to NAR.
Some reasons why: uncertainty about job security and the US economy; increased time needed to obtain financing; tighter underwriting restrictions; longer time to get appraisals completed; and the increased popularity of short-sales, which take longer than normal sales-- which causes some potential buyers to cancel as well.
The positive is potential homeowners are being more active. However, some of the same issues still remain: economy, financing and the patience required for distressed property sales.
If the potential homebuyer is aware of some of these potential issues, it will be easier for them to make a more firm commitment from the outset. That is why I try to educate my clients looking to purchase a home from the beginning of our journey of finding a suitable new home.
It is also important for my clients who are selling their homes to be aware of these issues as well. We try to mitigate the potential for problems later on in the process by bringing to light these same issues with the prospective buyer at the first sign of interest.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Palm Beach County Florida See More Home Sales, Housing Prices Decline: Homes For Sale: Homes For Rent
Existing home sales in Palm Beach County increased 18% in the second quarter 2011 over the same time in 2010. This was better than the state of Florida, which had a 1% sales increase in the number of existing sales 2Q:11 over 2Q:10.
The increase in sales comes at a "price"-- a lower price. The median sales price for a single-family home in Palm Beach County fell 13% to $206,000 in 2Q:11 over the previous year. The median sales price in the state of Florida was down 5% during 2Q:10, to $134,600, versus the previous time frame last year.
Looking at the United States' housing market as a whole, there were less sales on a percentage basis and not as steep of a price drop when compared with Florida. Existing home sales nationwide fell almost 13% 2Q:11 over 2Q:10. The median existing single-family home price was $171,900 in 2Q:11, which was down 2.8% from the same time last year.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The increase in sales comes at a "price"-- a lower price. The median sales price for a single-family home in Palm Beach County fell 13% to $206,000 in 2Q:11 over the previous year. The median sales price in the state of Florida was down 5% during 2Q:10, to $134,600, versus the previous time frame last year.
Looking at the United States' housing market as a whole, there were less sales on a percentage basis and not as steep of a price drop when compared with Florida. Existing home sales nationwide fell almost 13% 2Q:11 over 2Q:10. The median existing single-family home price was $171,900 in 2Q:11, which was down 2.8% from the same time last year.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Case Shiller Index: May 2011: Some Seasonal Improvement in Home Prices: Homes For Sale: Homes For Rent
The US housing market showed about a 1.0% sequential price increase in May 2011, according to the Case Shiller Home Price Index. However, this can be attributed to seasonal selling patterns as opposed to a strengthening in the market.
The seasonality argument comes from looking at the US as a whole on a year-over-year basis in May 2011. When looking at the Case Shiller Index in that way, 19 of the 20 cities saw prices drop; the exception being Washington, DC. I attribute this to the concentration of government employees.
Case-Shiller Index points out that the average US home in May 2011 is back to the levels in the summer of 2003.
The Miami area saw a 1.2% sequential price increasein May 2011 and a 5.3% decrease on a year-over-year basis. The Tampa area saw a 0.6% sequential drop and a 9.5% decrease, respectively.
Some other areas of interest are as follows:
May 2011 May/April April/March
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 150.98 2.7% -0.2% -3.2%
Chicago 112.01 1.7% -0.4% -8.1%
Miami 138.60 1.2% -0.2% -5.3%
Minneapolis 108.34 2.6% 0.1% -11.7%
New York 164.96 0.7% 0.9% -3.2%
Tampa 125.10 -0.6% -0.6% -9.5%
Composite-10 153.64 1.1% 0.6% -3.6%
Composite-20 139.87 1.0% 0.6% -4.5%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The seasonality argument comes from looking at the US as a whole on a year-over-year basis in May 2011. When looking at the Case Shiller Index in that way, 19 of the 20 cities saw prices drop; the exception being Washington, DC. I attribute this to the concentration of government employees.
Case-Shiller Index points out that the average US home in May 2011 is back to the levels in the summer of 2003.
The Miami area saw a 1.2% sequential price increasein May 2011 and a 5.3% decrease on a year-over-year basis. The Tampa area saw a 0.6% sequential drop and a 9.5% decrease, respectively.
Some other areas of interest are as follows:
May 2011 May/April April/March
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 150.98 2.7% -0.2% -3.2%
Chicago 112.01 1.7% -0.4% -8.1%
Miami 138.60 1.2% -0.2% -5.3%
Minneapolis 108.34 2.6% 0.1% -11.7%
New York 164.96 0.7% 0.9% -3.2%
Tampa 125.10 -0.6% -0.6% -9.5%
Composite-10 153.64 1.1% 0.6% -3.6%
Composite-20 139.87 1.0% 0.6% -4.5%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Sunday, July 17, 2011
Woodfield Hunt Club In Boca Raton, Florida: Homes For Sale: Homes For Rent: Real Estate Agent
Woodfield Hunt Club has always been known as a premier family community of year-round residents. There are 325 single family homes. About 90% of the residents live in the community year-round.
The family-oriented theme for both Hunt Club I and Hunt Club II is highlighted with three-, four- and five-bedroom homes. Numerous lakes are located throughout both communities.
The community is zoned for the following public schools: Elementary School: Calusa; Middle School: Omni; High School: Spanish River
The community is located very close to several large shopping plazas and the Florida Turnpike.
During the past twelve months we estimate the average sold information is as follows:
4 bedrooms
3 bathrooms
3,719 square feet
$650,000 sales price
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The family-oriented theme for both Hunt Club I and Hunt Club II is highlighted with three-, four- and five-bedroom homes. Numerous lakes are located throughout both communities.
The community is zoned for the following public schools: Elementary School: Calusa; Middle School: Omni; High School: Spanish River
The community is located very close to several large shopping plazas and the Florida Turnpike.
During the past twelve months we estimate the average sold information is as follows:
4 bedrooms
3 bathrooms
3,719 square feet
$650,000 sales price
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Woodfield Country Club in Boca Raton, Florida: Homes For Sale: Homes For Rent: Real Estate Agent
Woodfield Country Club is centrally located in Boca Raton, Florida. The Country Club is among the most exclusive in an area that boasts many of the top clubs in the state.
The community is located very close to several large shopping plazas and the Florida Turnpike. There are tennis courts, basketball courts, community pool, children's pool, hot tub, and exercise room, spa and all of the ameneties one would expect at a high-end country club community.
During the past twelve months we estimate the average sold information is as follows:
4 bedrooms
3 bathrooms
3,533 square feet
$867,000 sales price
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The community is located very close to several large shopping plazas and the Florida Turnpike. There are tennis courts, basketball courts, community pool, children's pool, hot tub, and exercise room, spa and all of the ameneties one would expect at a high-end country club community.
During the past twelve months we estimate the average sold information is as follows:
4 bedrooms
3 bathrooms
3,533 square feet
$867,000 sales price
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Mission Bay in Boca Raton, Florida: Homes For Sale: Homes For Rent: Real Estate Agent
Mission Bay is a community of homes and condos located in Boca Raton. Many homes are cinder block construction with a concrete roof, feature hurricane shutters, swimming pool, screened-porch, skylight, vaulted ceilings, garages, French doors, pantry, foyer, walk-in closets, carpeting, ceramic tile and wood floors, cooking island, granite counter tops, refrigerator, disposal, washer, dryer, and dishwasher. Amenities at Mission Bay include game room and swimming pool. Maintenance includes cable television, common area, and security.
The community is located in west Boca Raton, very close to several large shopping plazas and the Florida Turnpike. There are tennis courts, basketball courts, community pool, children's pool, hot tub, and exercise room with classes such as Yoga. Some have described it as a "country club" type community without the costs.
During the past twelve months the average sold information is as follows:
3 bedrooms
2 bathrooms
2,054 square feet
$255,000 sales price
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The community is located in west Boca Raton, very close to several large shopping plazas and the Florida Turnpike. There are tennis courts, basketball courts, community pool, children's pool, hot tub, and exercise room with classes such as Yoga. Some have described it as a "country club" type community without the costs.
During the past twelve months the average sold information is as follows:
3 bedrooms
2 bathrooms
2,054 square feet
$255,000 sales price
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Factors To Follow: Consumer Confidence And Job Market: Homes For Sale: Homes For Rent: Real Estate Agent
As we have written about in the past, there are many issues to follow to get a sense of the housing market. On a more macro-level, understanding the consumer is important on the demand side of the market.
We have identified consumer confidence and the job market as two key areas to follow. The recent trend does not show promise for a turnaround the US housing market.
Consumer confidence fell to a seven-month low in June 2011. As the Chairman of America's Research Group indicated, "Americans still feel like they're in a recession." The Conference Board's Consumer Confidence Index was 58.5 in June 2011, down from 61.7 in May 2011. A reading of 90 indicates a relatively healthy economy.
A large reason most Americans feel like the recession is still with us is because of the second factor we discussed-- the job market. The unemployment rate continues to hold in the low 9.0% range and has inched up recently. Americans are still worried about their jobs and the prospects of landing a new job. Stagnant wages are also a concern for workers in the United States.
With out the feeling of job stability or good prospects of landing a new job in the near future, we think it is unlikely the US housing market will show any robust growth in the next six months.
However, it remains a buyer's market and those who are qualified can take advantage of the imbalance between supply and demand in the market.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
We have identified consumer confidence and the job market as two key areas to follow. The recent trend does not show promise for a turnaround the US housing market.
Consumer confidence fell to a seven-month low in June 2011. As the Chairman of America's Research Group indicated, "Americans still feel like they're in a recession." The Conference Board's Consumer Confidence Index was 58.5 in June 2011, down from 61.7 in May 2011. A reading of 90 indicates a relatively healthy economy.
A large reason most Americans feel like the recession is still with us is because of the second factor we discussed-- the job market. The unemployment rate continues to hold in the low 9.0% range and has inched up recently. Americans are still worried about their jobs and the prospects of landing a new job. Stagnant wages are also a concern for workers in the United States.
With out the feeling of job stability or good prospects of landing a new job in the near future, we think it is unlikely the US housing market will show any robust growth in the next six months.
However, it remains a buyer's market and those who are qualified can take advantage of the imbalance between supply and demand in the market.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Some Banks Are Offering Homeowners A Cash Reward To Do A Short Sale: Homes For Sale: Homes For Rent: Real Estate Agent
According to the Florida Sun-Sentinel, JP Morgan Chase and Wells Fargo & Company are offering a cash reward to certain Florida homeowners who agree to a short sale. Some defaulting homeowners in Florida have confirmed receiving $10,000 to $20,000 from banks in order to agree to a short sale.
The banks are not giving many details on why only some Florida homeowners are being chosen and not others. The only comment is that it is determined by "individual circumstances," according to the Sun-Sentinel.
In the first three months of 2011, RealtyTrac, Inc., reported the average foreclosure in Florida took 619 days. The incentive program would all the banks to write-off the bad loans quickly and avoid the lengthly foreclosure process.
We have written in previous posts about the benefits of doing a short sale as opposed to being foreclosed upon by the lender. As a Certified Distressed Property Expert (CDPE) and a Realtor, I am uniquely qualified to help distressed homeowners complete a short sale.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The banks are not giving many details on why only some Florida homeowners are being chosen and not others. The only comment is that it is determined by "individual circumstances," according to the Sun-Sentinel.
In the first three months of 2011, RealtyTrac, Inc., reported the average foreclosure in Florida took 619 days. The incentive program would all the banks to write-off the bad loans quickly and avoid the lengthly foreclosure process.
We have written in previous posts about the benefits of doing a short sale as opposed to being foreclosed upon by the lender. As a Certified Distressed Property Expert (CDPE) and a Realtor, I am uniquely qualified to help distressed homeowners complete a short sale.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
After A Foreclosure Or A Short Sale, How Long Do You Have To Wait To Buy A House?: Homes For Sale: Homes For Rent: Real Estate Agent
As a Certified Distressed Property Expert (CDPE) and a Realtor in the South Florida housing market, I have come across many distressed home situations recently. Representing both sellers and buyers in the distressed property market is one of my specialities.
The main idea is for sellers to avoid foreclosure via a short sale or another avenue. There have been many short sales and foreclosures recently and the question for those who have been through it is: how long do I have to wait until I can purchase a home again.
Below is a brief synopsis as reported recently by the New York Times:
Fannie Mae and Freddie Mac:
Up to seven years after a foreclosure and up to four years after a bankruptcy WITHOUT extenuating circumstances (i.e., illness or job loss).
Up to three years after a foreclosure and up to two years following a short sale, deed in lieu or discharge or dismissal of bankruptcy with extenuating circumstances.
Federal Housing Administration (FHA) Loans:
Those loans insured by the FHA will have to wait up to three years after a foreclosure and two years after a bankruptcy is discharged.
Short sales WITHOUT extenuating circumstances will have to wait up to three years.
Short sales with extenuating circumstances and were on time with all payments a year prior to the short sale may not have to wait at all and might qualify for an FHA loan immediately.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The main idea is for sellers to avoid foreclosure via a short sale or another avenue. There have been many short sales and foreclosures recently and the question for those who have been through it is: how long do I have to wait until I can purchase a home again.
Below is a brief synopsis as reported recently by the New York Times:
Fannie Mae and Freddie Mac:
Up to seven years after a foreclosure and up to four years after a bankruptcy WITHOUT extenuating circumstances (i.e., illness or job loss).
Up to three years after a foreclosure and up to two years following a short sale, deed in lieu or discharge or dismissal of bankruptcy with extenuating circumstances.
Federal Housing Administration (FHA) Loans:
Those loans insured by the FHA will have to wait up to three years after a foreclosure and two years after a bankruptcy is discharged.
Short sales WITHOUT extenuating circumstances will have to wait up to three years.
Short sales with extenuating circumstances and were on time with all payments a year prior to the short sale may not have to wait at all and might qualify for an FHA loan immediately.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Monday, July 4, 2011
Happy Fourth of July
Happy independence day to all of our US readers. Thank you to all those who sacrificed to make our country what it has become.
To those who are pursuing the American Dream of homeownership, please call or text me at 561-247-3550. I look forward to working with you.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
To those who are pursuing the American Dream of homeownership, please call or text me at 561-247-3550. I look forward to working with you.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Sunday, July 3, 2011
Ambassadors in Highland Beach: Quarterly Update: Homes For Sale: Homes For Rent
Ambassadors consists of 2 oceanfront buildings with 80 units each. Some of the units have amazing direct views of the Atlantic Ocean.
The building is ocean front with private access to the beach. The swimming pool is oceanside with a fitness facility included in the Homeowner's Association fees. There is one covered parking spot per unit and 24-hour manned security gate. Quarterly maintenance includes common area maintenance, security, water, cable, high-speed Internet and trash removal.
During the past twelve months we estimate the median sold information is as follows:
2 bedrooms
2 bathrooms
1,100 square feet
$270,000 sales price
To receive more information on Ambassadors or other other properties in the area, feel free to text me or call me at 561-247-3550.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The building is ocean front with private access to the beach. The swimming pool is oceanside with a fitness facility included in the Homeowner's Association fees. There is one covered parking spot per unit and 24-hour manned security gate. Quarterly maintenance includes common area maintenance, security, water, cable, high-speed Internet and trash removal.
During the past twelve months we estimate the median sold information is as follows:
2 bedrooms
2 bathrooms
1,100 square feet
$270,000 sales price
To receive more information on Ambassadors or other other properties in the area, feel free to text me or call me at 561-247-3550.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Tuesday, June 28, 2011
Case Shiller Index: April 2011: Slight Sequential Uptick In Prices; YOY Down Trend Continues: Homes For Sale: Homes For Rent
Case Shiller Housing Index continues to show weakness in the US. One positive is a slight sequential increase in April 2011 over March 2011; however, this was less than 1.0% price increase.
In April 2011 the year-over-year price decrease was 5.6% in the Miami region (South Florida) versus the national average reduction of around 3.5%, according to the Case Shiller Index. The Tampa area showed greater weakness with an annual decrease of 7.7% in April 2011.
The postive sequential trend alluded to earlier might be the start of a positive trend in the US housing market. However, it is only one month and a relatively weak sequential move to the upside.
The South Florida market continues to be plagued by heightened levels of unemployment, higher than usual levels of distressed properties along with the general economic uncertainty of recent months. Tighter lending practices, tougher appraisals and economic uncertainty seem to be discouraging those who are seeking financing. The recent "soft patch" in the national economy seems to be making some cash buyers or those who will use limited financing take a longer look. The lenders and buyers seem to be waiting for an indication as to which way the US economy is headed at the moment.
Some other areas of the nation that we focus on are listed below:
Case-Shiller Housing Index:
April 2011 April/March March/ February
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 147.07 -0.2% -1.7% -4.2%
Chicago 110.12 -0.4% -2.4% -8.6%
Miami 136.99 -0.2% -0.8% -5.6%
Minneapolis 106.07 0.4% -3.7% -11.1%
New York 164.17 0.8% -1.0% -2.8%
Tampa 126.47 -0.4% -0.5% -7.7%
Composite-10 152.51 0.8% -0.8% -3.1%
Composite-20 138.84 0.7% -0.9% -4.0%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
In April 2011 the year-over-year price decrease was 5.6% in the Miami region (South Florida) versus the national average reduction of around 3.5%, according to the Case Shiller Index. The Tampa area showed greater weakness with an annual decrease of 7.7% in April 2011.
The postive sequential trend alluded to earlier might be the start of a positive trend in the US housing market. However, it is only one month and a relatively weak sequential move to the upside.
The South Florida market continues to be plagued by heightened levels of unemployment, higher than usual levels of distressed properties along with the general economic uncertainty of recent months. Tighter lending practices, tougher appraisals and economic uncertainty seem to be discouraging those who are seeking financing. The recent "soft patch" in the national economy seems to be making some cash buyers or those who will use limited financing take a longer look. The lenders and buyers seem to be waiting for an indication as to which way the US economy is headed at the moment.
Some other areas of the nation that we focus on are listed below:
Case-Shiller Housing Index:
April 2011 April/March March/ February
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 147.07 -0.2% -1.7% -4.2%
Chicago 110.12 -0.4% -2.4% -8.6%
Miami 136.99 -0.2% -0.8% -5.6%
Minneapolis 106.07 0.4% -3.7% -11.1%
New York 164.17 0.8% -1.0% -2.8%
Tampa 126.47 -0.4% -0.5% -7.7%
Composite-10 152.51 0.8% -0.8% -3.1%
Composite-20 138.84 0.7% -0.9% -4.0%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Florida's Condo Sales And Home Sales Were Up In May 2011: Homes For Sale: Homes For Rent
Florida's existing home sales increased 3.0%, to 17,228, in May 2011 when compared with the year earlier, according to Florida Realtors. Sales of existing condominiums rose by 17.0% in May 2011 over May 2010.
The increase in unit sales is coming with a reduced price. Florida's existing homes sold for a median price of $135,000 in May 2011, which was 5.0% below last year. On a sequential basis, prices increased 2.9%. On a national level, year-over-year home prices were down 5.4%, to $163,200.
Median prices for a condo in Florida were actually up 2.0%, to $98,200 in May 2011 over May 2011. On a sequential basis, the median condo sales price was 6.9% higher.
The data seems to indicate what I am seeing in my local market-- which is to say, there's more interest in lower price, more affordable homes. I am seeing increased interest from investors and those looking for a second home. Those seeking more expensive homes are out in the market; however, they tend to be discriminating and are taking a while to pull the trigger in making an offer.
If you are thinking of selling or buying a home, renting out or leasing a home, or require more information, please feel free to contact me.
You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The increase in unit sales is coming with a reduced price. Florida's existing homes sold for a median price of $135,000 in May 2011, which was 5.0% below last year. On a sequential basis, prices increased 2.9%. On a national level, year-over-year home prices were down 5.4%, to $163,200.
Median prices for a condo in Florida were actually up 2.0%, to $98,200 in May 2011 over May 2011. On a sequential basis, the median condo sales price was 6.9% higher.
The data seems to indicate what I am seeing in my local market-- which is to say, there's more interest in lower price, more affordable homes. I am seeing increased interest from investors and those looking for a second home. Those seeking more expensive homes are out in the market; however, they tend to be discriminating and are taking a while to pull the trigger in making an offer.
If you are thinking of selling or buying a home, renting out or leasing a home, or require more information, please feel free to contact me.
You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Monday, June 27, 2011
Is US Distressed Property Inventory Peaking?: Homes For Sale: Homes For Rent
CoreLogic believes US "shadow inventory" of homes may have peaked recently. The "shadow inventory" refers to homes in the foreclosure process that are headed toward the housing market.
As of April 2011 CoreLogic estimates there were about 1.7 million homes that were in the foreclosure process. The firm says this is about 18% below the peak and represents a five-month supply of homes at the current sales pace.
Those behind on their mortgates has declined 8.3% in the first quarter of 2011, according to the Mortgagte Bankers Association. The National Association of Realtors reported foreclosures and short sales (i.e., distressed properties) accounted for 31% of existing home sales in May 2011 versus 37% in April 2011.
Excess inventory supply needs to be taken out of the market in order to reach a bottom in the market, in my view. The stabiliztion of the US economy is helping to reduce delinquencies on mortgage payments and has spurred some into action to purchase a home, in my view.
I think it is too early to declare the market has hit "rock bottom." The recent signs have shown a "softer" decent, which leads me to believe we are getting closer to the nadir. Much depends on the continued strenghtening of the US economy and the economic situation in your local area.
In the meantime, there are many homeowners who are in a distressed situation. As a Certified Distressed Property Expert (CDPE) and a Realtor, I can help. Please contact me.
Otherwise, if you are thinking of selling or buying a home, renting out or leasing a home, or require more information, please feel free to contact me.
You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
As of April 2011 CoreLogic estimates there were about 1.7 million homes that were in the foreclosure process. The firm says this is about 18% below the peak and represents a five-month supply of homes at the current sales pace.
Those behind on their mortgates has declined 8.3% in the first quarter of 2011, according to the Mortgagte Bankers Association. The National Association of Realtors reported foreclosures and short sales (i.e., distressed properties) accounted for 31% of existing home sales in May 2011 versus 37% in April 2011.
Excess inventory supply needs to be taken out of the market in order to reach a bottom in the market, in my view. The stabiliztion of the US economy is helping to reduce delinquencies on mortgage payments and has spurred some into action to purchase a home, in my view.
I think it is too early to declare the market has hit "rock bottom." The recent signs have shown a "softer" decent, which leads me to believe we are getting closer to the nadir. Much depends on the continued strenghtening of the US economy and the economic situation in your local area.
In the meantime, there are many homeowners who are in a distressed situation. As a Certified Distressed Property Expert (CDPE) and a Realtor, I can help. Please contact me.
Otherwise, if you are thinking of selling or buying a home, renting out or leasing a home, or require more information, please feel free to contact me.
You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
US Housing Market Remains Weak; Some Tidbits on New Home Sales, Which Declined Again in May 2011: Homes For Sale: Homes For Rent
The US housing market continues to be weak as new home sales continued to fall during May 2011.
The sequential number of homes sold in the US was down 2.1% to 319,000 units in May 2011; median home prices increased 2.6% to $222,600 during the same time.
Last year was the worst as far as the number of new homes sold during the past 50 years. New home sales have been decreasing during the past five years. The previous five years saw some record high sales numbers.
Home prices have fallen more during the "Great Recession" when compared with the Great Depression of the 1930's. After the Great Depression, it took 19 years for prices to fully recover.
To receive more information, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The sequential number of homes sold in the US was down 2.1% to 319,000 units in May 2011; median home prices increased 2.6% to $222,600 during the same time.
Last year was the worst as far as the number of new homes sold during the past 50 years. New home sales have been decreasing during the past five years. The previous five years saw some record high sales numbers.
Home prices have fallen more during the "Great Recession" when compared with the Great Depression of the 1930's. After the Great Depression, it took 19 years for prices to fully recover.
To receive more information, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Tuesday, June 14, 2011
Home Foreclosure Could Cost You Your Job; Short Sale A Better Way?: Homes For Sale: Homes For Rent: Foreclosure Short Sale Realtor
Those who rely on federal security clearances for their job, foreclosure could mean more than losing a house. The reason is a foreclosure in your background could cause you to lose your security clearance.
Along with criminal arrests, drug and alcohol use, debt is another potential pitfall for someone with security clearances. The concern is someone could sell confidential information in order to catch up after falling behind on debts.
Homeowners who are struggling with the mortgage and need security clearance for work purposes should consider a short-sale. These folks should attempt to document the mortgage was sensible at the time. In addition taking decisive action to rectify the situation should be helpful.
One way to try and alleviate the financial obligation is by arranging a short sale of the property. Upon completion of a short sale with debt foregiveness, the financial burden is lifted without potential related issues in the future.
As a Certified Distressed Property Expert (CDPE) and a Realtor, I am uniquely qualified to help home sellers in this unusual housing market.
To receive more information, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Along with criminal arrests, drug and alcohol use, debt is another potential pitfall for someone with security clearances. The concern is someone could sell confidential information in order to catch up after falling behind on debts.
Homeowners who are struggling with the mortgage and need security clearance for work purposes should consider a short-sale. These folks should attempt to document the mortgage was sensible at the time. In addition taking decisive action to rectify the situation should be helpful.
One way to try and alleviate the financial obligation is by arranging a short sale of the property. Upon completion of a short sale with debt foregiveness, the financial burden is lifted without potential related issues in the future.
As a Certified Distressed Property Expert (CDPE) and a Realtor, I am uniquely qualified to help home sellers in this unusual housing market.
To receive more information, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Monday, June 13, 2011
How Much Will I Save In A Foreclosure And Short Sale? Homes For Sale: Homes For Rent
With foreclosures accounting for 28% of all sales in the nation, we focus on distressed homes. In an attempt to stay at the forefront of the distressed market, we discuss the percentage discount for foreclosures and short sales in the US.
In the United States, the average REO (i.e., foreclosure) cost on average about 35% less than comparable properties, according to RealtyTrac.
Nationwide, short sales sold at an average 9% discount, according to CNNMoney.
These figures are as of May 2011. However, there are variations depending on the market.
The Certified Distressed Property Expert (CDPE) designation means I have focused my efforts on foreclosures and short sales. If you are thinking of selling or buying a home, or require more information, please feel free to contact me. You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
In the United States, the average REO (i.e., foreclosure) cost on average about 35% less than comparable properties, according to RealtyTrac.
Nationwide, short sales sold at an average 9% discount, according to CNNMoney.
These figures are as of May 2011. However, there are variations depending on the market.
The Certified Distressed Property Expert (CDPE) designation means I have focused my efforts on foreclosures and short sales. If you are thinking of selling or buying a home, or require more information, please feel free to contact me. You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Wednesday, June 8, 2011
Vote On Best Boca Raton, Florida Country Club Community: Homes For Sale: Homes For Rent
With an abundance of top-rated country club communities in Boca Raton, Florida, we are seeking to rank the top-five.
We would like your feedback as a component of our rankings. Please leave a comment with your favorite country club community in Boca Raton and the reason why. You do not have to currently live there. For instance, there are many people who have friends at various clubs and have a particular liking to one over others.
We look forward to reading and posting your comments. If you wish your comments to be counted in our survey, but not posted, please let us know in the body of your comment section.
We will keep you apprised of the results and look forward to doing more rankings for other types of communities and different South Florida cities.
To receive more information on properties in the area, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
We would like your feedback as a component of our rankings. Please leave a comment with your favorite country club community in Boca Raton and the reason why. You do not have to currently live there. For instance, there are many people who have friends at various clubs and have a particular liking to one over others.
We look forward to reading and posting your comments. If you wish your comments to be counted in our survey, but not posted, please let us know in the body of your comment section.
We will keep you apprised of the results and look forward to doing more rankings for other types of communities and different South Florida cities.
To receive more information on properties in the area, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Thursday, June 2, 2011
Case Shiller Housing Index: March 2011: US Home Prices Continue To Slide: Homes For Sale: Homes For Rent
US homes prices are back to the mid-2002 levels, according to the Case-Shiller Index.
On a year-over-year basis, the Case-Shiller Index showed home prices nationally fell 5.1% in 1Q:2011. On a sequential basis, home prices fell 4.2% in the US. The Case-Shiller National Index fell to a new recession low during 1Q:2011.
Locally, the South Florida market saw the price of homes drop 6.1% on a year-over-year basis in March 2011. This compares with a 6.9% decline in prices for the Tampa area during the same time frame.
Looking at some markets of interest:
March 2011 March/February February/January
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 147.36 -1.7% -1.5% -2.7%
Chicago 110.57 -2.4% -2.2% -7.6%
Miami 137.28 -0.8% -2.0% -6.1%
Minneapolis 105.57 -3.7% -3.3% -10.0%
New York 163.50 -0.9% -0.6% -3.4%
Tampa 127.08 -0.7% -0.8% -6.9%
Composite-10 151.66 -0.6% -1.2% -2.9%
Composite-20 138.16 -0.8% -1.1% -3.6%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
To receive more information on properties in the area, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
On a year-over-year basis, the Case-Shiller Index showed home prices nationally fell 5.1% in 1Q:2011. On a sequential basis, home prices fell 4.2% in the US. The Case-Shiller National Index fell to a new recession low during 1Q:2011.
Locally, the South Florida market saw the price of homes drop 6.1% on a year-over-year basis in March 2011. This compares with a 6.9% decline in prices for the Tampa area during the same time frame.
Looking at some markets of interest:
March 2011 March/February February/January
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 147.36 -1.7% -1.5% -2.7%
Chicago 110.57 -2.4% -2.2% -7.6%
Miami 137.28 -0.8% -2.0% -6.1%
Minneapolis 105.57 -3.7% -3.3% -10.0%
New York 163.50 -0.9% -0.6% -3.4%
Tampa 127.08 -0.7% -0.8% -6.9%
Composite-10 151.66 -0.6% -1.2% -2.9%
Composite-20 138.16 -0.8% -1.1% -3.6%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
To receive more information on properties in the area, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Wednesday, May 25, 2011
Florida's existing home and condo sales increase in April 2011: Homes For Sale: Homes For Rent
Existing home sales in Florida increased 2.0% in April 2011 with a total of 17,192 homes sold statewide compared to 16,781 homes sold in April 2010, according to Florida Realtors. On a year-over-year basis, existing condos rose by 17.0% in April 2011.
Florida’s median sales price for existing homes in April 2011 was $131,700; a year ago, it was $140,300 for a 6 percent decrease. On a sequential basis, the median price for existing homes increased by 4.3% in April 2011 over March 2011.
The national median sales price for an existing home in the US was down 5.3% to $160,500 in April 2011.
Regarding condos in Florida, on a year-to-year basis 8,987 units were sold in April 2011 compared to 7,703 units in April 2010; this is an increase of 17.0%. On a sequential basis, existing Florida condo median sales price for April 2011 was $91,900; in April 2010 it was $100,200 for an 8.0% decrease.
In the US the national median existing condo sales price was $153,100 in March 2011; this increased by 9.0% in April 2011.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me. You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Florida’s median sales price for existing homes in April 2011 was $131,700; a year ago, it was $140,300 for a 6 percent decrease. On a sequential basis, the median price for existing homes increased by 4.3% in April 2011 over March 2011.
The national median sales price for an existing home in the US was down 5.3% to $160,500 in April 2011.
Regarding condos in Florida, on a year-to-year basis 8,987 units were sold in April 2011 compared to 7,703 units in April 2010; this is an increase of 17.0%. On a sequential basis, existing Florida condo median sales price for April 2011 was $91,900; in April 2010 it was $100,200 for an 8.0% decrease.
In the US the national median existing condo sales price was $153,100 in March 2011; this increased by 9.0% in April 2011.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me. You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Subscribe to:
Posts (Atom)