During a recent home inspection, I was speaking with the other real estate agent involved in the transaction about the current status of the real estate market. Our recent experiences seems to indicate a shift from a "buyers' market" to a more "neutral market;" meaning the current South Florida real estate market does not seem to clearly favor the buyer or the seller.
In the community in which the transaction is occuring we were discussing the lack of current inventory. This particular transaction is taking place in Boynton Beach. When the offer was placed and accepted on this particular home a couple of months ago, it was still a "buyers' market." There was more inventory than demand, which favored the buyer over the seller.
Now there are not many homes still available and there continues to be interest by buyers in the community. That reminded me of a recent situation where my client made an offer on a home and the deal recently fell through. We continue to search that market for homes to buy. Where there were many a couple of months ago, we cannot find a similar property right now. That does not mean one will not become present on the market; however, I expect it to be more competitive when the home does become available.
In discussion with other brokers in the South Florida market, I continue to hear similar anecdotes. Those who are still uncertain about buying homes in the current market might want to reconsider. I believe we are at an inflection point in the real estate market. If the economy shows sustained growth, then I think we will see a slow, but steady rise in home prices.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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, June 30, 2012
Friday, June 29, 2012
Real Estate Could Be A Good Investment Again: Homes For Sale: Homes For Rent
There are several reasons why real estate could once again be considered a good investment, in my opinion. My main theory is that most all other asset classes have rebounded from the "Great Recession"-- except the residential real estate market.
We have seen the stock market double off its recent lows, precious metals (i.e., gold) has spiked, the oil market was recently a political issues as prices rose and the US treasury market has been a safe haven for investors. Can real estate make a come back like some of the other asset classes?
With mortgage rates at historic lows, housing affordability levels reaching a favorable inflection point and an influx of investors snapping up inventory leads me to think the real estate market is poised for positive momentum.
The increase in rents due to increased demand will spur some renters who can afford it to become homebuyers and it will also continue to entice investors, in my view. As mortgage rates rise (it is inevitable), I think those on the "fence" about buying a home will come into the market quickly to take advantage of rates while still favorable.
It is still a "buyer's" market and those who are thinking of buying a home now should take advantage of the low mortgage rates and favorable market conditions, in my view.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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 seen the stock market double off its recent lows, precious metals (i.e., gold) has spiked, the oil market was recently a political issues as prices rose and the US treasury market has been a safe haven for investors. Can real estate make a come back like some of the other asset classes?
With mortgage rates at historic lows, housing affordability levels reaching a favorable inflection point and an influx of investors snapping up inventory leads me to think the real estate market is poised for positive momentum.
The increase in rents due to increased demand will spur some renters who can afford it to become homebuyers and it will also continue to entice investors, in my view. As mortgage rates rise (it is inevitable), I think those on the "fence" about buying a home will come into the market quickly to take advantage of rates while still favorable.
It is still a "buyer's" market and those who are thinking of buying a home now should take advantage of the low mortgage rates and favorable market conditions, in my view.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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, June 23, 2012
Could A Rental Bubble Be Forming: Homes For Sale: Homes For Renrt
US News & World Report recently wrote an article with the title, "Stage Could Be Set For a Rental Market Bubble." I do not think we are a "bubble" yet, but we could be at the beginning stages as explained below.
The increase in the number of people moving into rental housing increased 4.0% on a year-over-year basis in March 2012, according to Freddie Mac. Christina Aragon of Rent.com calls this increase "significant." I have been writing about how the rental market is very robust and properties move quickly in the South Florida market.
All the while, homeownership is at its lowest levels in 15 years, at about 65%. Not surprising, given the shift to rentals as noted above.
The reasons have been discussed before and will be briefly touched upon: tight mortgage credit market, increased downpayment requirements to buy a home, the increase in distressed properties have shifted previous homeowners into the renting category, etc.
The supply of rental homes is drying up and the cost of renting is increasing. Trulia reports rents were up 6.0% on a year-over-year basis in May 2012. Some markets have had even bigger increases, such as Miami, which was up more than 10.0%, according to Trulia.
All of this has increased the interest of investors. I have touched upon this in previous posts and I have seen this in the current South Florida market.
The argument for a potential "bubble" is that investors are flooding the market and ramping up potential rental inventory levels. The US federal government has announced plans to convert some foreclosures on its books to rental properties to help ease the current situation. Also, if credit standards are eased and more people can move into the homeownership category, that may ease rental demand. The potential increase in supply by investor properties and government owned foreclosures, coupled with homeownership demand could cause a "bubble" to burst.
I do not foresee this happening during the next two years, atleast. Jed Kolko, chief economist at Trulia claims, "most renters are still two or more years away from homeownership." Also, it will take those who owned distressed properties more than two years to fix their credit and be ready to once again be homeowners, in my opinion.
Also, increased home buying should spur demand and prices, which should mitigate the downside for investors. Those that are renting might be willing to buy the homes they are renting from investors, which would allow investors to enjoy the cash flows for several years (presumably at an acceptable rate of return) and then sell the home at a higher price than when they bought it.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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 the number of people moving into rental housing increased 4.0% on a year-over-year basis in March 2012, according to Freddie Mac. Christina Aragon of Rent.com calls this increase "significant." I have been writing about how the rental market is very robust and properties move quickly in the South Florida market.
All the while, homeownership is at its lowest levels in 15 years, at about 65%. Not surprising, given the shift to rentals as noted above.
The reasons have been discussed before and will be briefly touched upon: tight mortgage credit market, increased downpayment requirements to buy a home, the increase in distressed properties have shifted previous homeowners into the renting category, etc.
The supply of rental homes is drying up and the cost of renting is increasing. Trulia reports rents were up 6.0% on a year-over-year basis in May 2012. Some markets have had even bigger increases, such as Miami, which was up more than 10.0%, according to Trulia.
All of this has increased the interest of investors. I have touched upon this in previous posts and I have seen this in the current South Florida market.
The argument for a potential "bubble" is that investors are flooding the market and ramping up potential rental inventory levels. The US federal government has announced plans to convert some foreclosures on its books to rental properties to help ease the current situation. Also, if credit standards are eased and more people can move into the homeownership category, that may ease rental demand. The potential increase in supply by investor properties and government owned foreclosures, coupled with homeownership demand could cause a "bubble" to burst.
I do not foresee this happening during the next two years, atleast. Jed Kolko, chief economist at Trulia claims, "most renters are still two or more years away from homeownership." Also, it will take those who owned distressed properties more than two years to fix their credit and be ready to once again be homeowners, in my opinion.
Also, increased home buying should spur demand and prices, which should mitigate the downside for investors. Those that are renting might be willing to buy the homes they are renting from investors, which would allow investors to enjoy the cash flows for several years (presumably at an acceptable rate of return) and then sell the home at a higher price than when they bought it.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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, June 22, 2012
Positive Sales Trends In Florida Real Estate Market: Homes For Sale: Homes For Rent
On a year-over-year basis, the housing market showed signs of strength in May 2012 over May 2011. The amount of closed sales rose, median prices increased and housing inventory levels dropped, according to data released by Florida Realtors.
Sales of single family homes in Florida increased 7.2% and townhouses and condominium sales increased 5.4% during May 2012 over May 2011, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing.
The state of Florida saw median sales prices for single family homes increase 8.9% and median townhouse and condominiums were up 14.3% in May 2012 over May 2011, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing.
Florida Realtors Chief Economist Dr. John Tuccillo said homesellers in the Florida market "are receiving a higher percentage of their asking price." He is also quoted as saying the following: "Perhaps the most striking characteristic of this market has been the dramatic drop in inventories. Now, Florida is in what is generally considered a balanced market-- that is, one that favors neither buyers nor sellers."
As a Realtor in the local South Florida market, I am experiencing a similarity to what was discussed above about the state of Florida's housing market. There seems to be more activity and inventory levels seem to be dropping. I think the housing market will see prices remain relatively steady for the remainder of 2012 (2H:12). However, a sustained buzz about dropping inventory levels and price increases is now more prevalent than anytime during the past year, in my opinion.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://mysouthflrealestate.com/
Referrals are appreciated and welcomed.
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
Sales of single family homes in Florida increased 7.2% and townhouses and condominium sales increased 5.4% during May 2012 over May 2011, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing.
The state of Florida saw median sales prices for single family homes increase 8.9% and median townhouse and condominiums were up 14.3% in May 2012 over May 2011, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing.
Florida Realtors Chief Economist Dr. John Tuccillo said homesellers in the Florida market "are receiving a higher percentage of their asking price." He is also quoted as saying the following: "Perhaps the most striking characteristic of this market has been the dramatic drop in inventories. Now, Florida is in what is generally considered a balanced market-- that is, one that favors neither buyers nor sellers."
As a Realtor in the local South Florida market, I am experiencing a similarity to what was discussed above about the state of Florida's housing market. There seems to be more activity and inventory levels seem to be dropping. I think the housing market will see prices remain relatively steady for the remainder of 2012 (2H:12). However, a sustained buzz about dropping inventory levels and price increases is now more prevalent than anytime during the past year, in my opinion.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://mysouthflrealestate.com/
Referrals are appreciated and welcomed.
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, June 2, 2012
Some Costs Associated With Buying A Home: Homes For Sale: Homes For Rent
Buying a home is a way to increase equity through making mortgage payments. Another potential positive is price appreciation of the home. These are financial benefits of owning a home.
There are also some costs that associated with buying a home that people need to be aware of.
Inspection and appraisal costs usually paid by the buyers.
Closing costs are typically 2% to 4% of the mortgage amount.
Taxes are also costs collected on the home and they tend to increase over time.
Insurance is another cost that will most likely rise over time and lenders will require home insurance.
Community fees (homeowners and condominium fees) are typically paid quarterly and/or monthly.
Utility bills, lawn maintenance and continuious repair bills are also things to take into consideration.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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
There are also some costs that associated with buying a home that people need to be aware of.
Inspection and appraisal costs usually paid by the buyers.
Closing costs are typically 2% to 4% of the mortgage amount.
Taxes are also costs collected on the home and they tend to increase over time.
Insurance is another cost that will most likely rise over time and lenders will require home insurance.
Community fees (homeowners and condominium fees) are typically paid quarterly and/or monthly.
Utility bills, lawn maintenance and continuious repair bills are also things to take into consideration.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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: US Housing Market To Hit Bottom In 2012? Homes For Sale: Homes For Rent
According to Zillow, certain US housing markets will hit the bottom in 2012. Among the markets Zillow expects to reach its low price point during 2012 is: New York, Miami, Fort Lauderdale, Boston, Tampa and Orlando.
The feeder markets of New York and Boston bodes well for the South Florida market. Sellers who have been waiting to move down south for retirement might get more action on their homes if the market begins to show home appreciation. The sellers would most likely move more quickly in a rising market in Florida as opposed to waiting if they see prices continue to drop.
Zillow actually expects to see a significant rise in home prices in Phoenix, Miami, Fort Lauderdale and Tampa markets. Zillow expects Miami and Fort Lauderdale to increase by 5.6% and Tampa to go up 2.5%.
If true, rising home prices would be welcomed news in the South Florida housing market. It would increase confidence for sellers and spur buyers to not "miss out" on getting the most home for the least amount.
Presumably if prices are rising, mortgage rates will as well. Buyers might be inclined to move before rates rise and potentially price them out of homes that are attainable today.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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 feeder markets of New York and Boston bodes well for the South Florida market. Sellers who have been waiting to move down south for retirement might get more action on their homes if the market begins to show home appreciation. The sellers would most likely move more quickly in a rising market in Florida as opposed to waiting if they see prices continue to drop.
Zillow actually expects to see a significant rise in home prices in Phoenix, Miami, Fort Lauderdale and Tampa markets. Zillow expects Miami and Fort Lauderdale to increase by 5.6% and Tampa to go up 2.5%.
If true, rising home prices would be welcomed news in the South Florida housing market. It would increase confidence for sellers and spur buyers to not "miss out" on getting the most home for the least amount.
Presumably if prices are rising, mortgage rates will as well. Buyers might be inclined to move before rates rise and potentially price them out of homes that are attainable today.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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, June 1, 2012
Latest Foreclosure And Short Sale Information: Homes For Sale: Homes For Rent
The sale of distressed properties (i.e., short sales and foreclosures) continue to dominate the US housing market.
According to RealtyTrac, foreclosed properties made up 26% of overall sales in 1Q:12, which is up from 25% of all sales a year ago.
Homes in forclosure have sales prices that are typically 27% below the average price of homes not in foreclosure.
Short sales accounted for 12% of homes sold in the first quarter of 2012, according to RealtyTrac; this was up 25% over the previous year.
RealtyTrac is reporting banks typically get 20% more in price when compared with the price they would get for a similar home that is in foreclosure. This is one reason short sales are more preferable when compared with a lender taking over a home through foreclosure.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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 RealtyTrac, foreclosed properties made up 26% of overall sales in 1Q:12, which is up from 25% of all sales a year ago.
Homes in forclosure have sales prices that are typically 27% below the average price of homes not in foreclosure.
Short sales accounted for 12% of homes sold in the first quarter of 2012, according to RealtyTrac; this was up 25% over the previous year.
RealtyTrac is reporting banks typically get 20% more in price when compared with the price they would get for a similar home that is in foreclosure. This is one reason short sales are more preferable when compared with a lender taking over a home through foreclosure.
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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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)