Case Shiller Housing Index: October 2012: "Sustained Recovery In Home Prices" : Homes For Sale : Homes For Rent

Quoting from the Case-Shiller report, “Looking over this report, and considering other data on housing starts and sales, it is clear that the housing recovery is gathering strength."  The indication is the US housing market is continuing on its path to recovery.

The Index's 10-City and 20-City Composites in October 2012 are back to levels seen in autumn of 2003; still way off the peak levels in June/July 2006.  Both Composites are still 30% and 35% off their peak levels, respectively. 

The South Florida market saw relatively flat sequential growth in October 2012.  However, the year-over-year comparison was up 8.5% in October 2012. 

Quoting from the October Case-Shiller Index report, “Annual rates of change in home prices are a better indicator of the performance of the housing market than the month-over-month changes because home prices tend to be lower in fall and winter than in spring and summer." 

Currently, inventory levels remain tighter than the previous year (please see some earlier posts for more information) in the South Florida housing market.  I remain cautiously optimistic for the market as a whole.  The potential for a new wave of foreclosures is a concern, in my opinion.  However, I do not expect to see a large drop in home prices; a relatively flat market is more likely, in my view. 

Other areas of interest:

Oct-12	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	155.13	-1.40%	1.60%
Chicago	114.9	-1.50%	-1.30%
Miami	149.97	-0.20%	8.50%
Minneapolis	124.96	-0.70%	9.20%
New York	165.3	-0.40%	-1.20%
Tampa	134.08	-0.50%	5.90%
Composite 10	158.77	-0.10%	3.40%
Composite 20	146.08	-0.10%	4.30%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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 An Analytical Approach To Buying, Selling and Leasing Real Estate http://MYsouthFLrealestate.com The greatest compliment you can give is the referral of your friends and loved ones 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 Home Sales Increase In November 2012; To Help US Economy Grow In 2013? : Homes For Sale : Homes For Rent

Sales of existing homes rose 5.9% to 5.04 million annual rate in November 2012, according to the National Assocation of Realtors.  The rate is the highest since November 2009.

Some economists believe the housing industry will help grow the US economy in 2013.  Mark Zandi, chief economist at Moody's Analytics stated the following: “Housing is going from being a powerful headwind to the economy to what will be a powerful tailwind.  It turned around in 2012, and I think it’s going to take off in 2013.”

According to Bloomberg Consumer Confidence Index, rising real estate values is helping to lift consumer confidence; the Bloomberg Consumer Confidence Index is at an eight month high. 

For those who were waiting for a "bottom" in the real estate market, now might be the time to start looking for a home to purchase.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

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

Making Dreams Come True On The Oceanfront Of Highland Beach, Florida: Ambassadors: Homes For Sale: Homes For Rent

One of the nice aspects of working in real estate is helping people find their "dream" homes.  One couple I worked with decided to fulfill their dream of living on the oceanfront.  After much searching, we settled in on Ambassadors South in Highland Beach.

Among the best features is the private access to the beach.  The community has beach chairs that are reserved for homeowners so you do not have to bring chairs down from your building.  The private pool overlooks the ocean and you can lay out by the pool and enjoy the waves of the ocean nearby. 

There are barbeques that residents can  utilize and an area to eat outside that all overlook the water.  If you want to come inside from the pool there is a lot to do.  You can sit by the large screen television, take out books from the library or just sit and play on the card tables.

If you want to take a stroll or run along the beach in the morning, you can certainly do that.  However, you can also run on the treadmill in the exercise room as well as utilize the many pieces of exercise equipment.  You can train with weights and work on an exercise bicycle; all of this in the comfort of your home or the nearby beach.

The amenities and natural beauty that the Ambassadors South in Highland Beach has to offer was what was part of the dream for my clients.  After years of hard work and sacrifice, it was a pleasure working with them to help find the home that fulfilled their life long desires. 

Please feel free to contact me and let me know what type of home you are looking for.  We will work to be sure you find the home you have always wanted.  Whether it be in a country club, on the oceanfront or any other lifestyle you can imagine, let me know and we will make it happen.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

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

South Florida Recent Housing Cycle Review & Zillow.com South Florida Home Price Prediction For 2013 : Homes For Sale : Homes For Rent

In order to predict where South Florida Home Prices will go in 2013, it makes sense to review the current South Florida housing market cycle.

According to an article in the Sun-Sentinel, single family home prices peaked at $421,000 in November 2005. 

During 2006 home prices began to decrease and it was taking longer to sell.  Prices continued to decline in an attempt to entice buyers.  When it became apparent  that prices were continuing to decline, even more homes came out onto the market in an effort to get out before prices declined further.

The "housing crisis" was beginning to take form in 2007.  The year saw the economy slow down and jobless claims began to steadily increase.  House prices in South Florida began to decline in earnest.

According to a study by Zillow.com for the Sun-Sentinel, "strong" home sales over the past 18 months have reduced the glut of inventory in the Palm Beach County market.  The County saw its housing inventory decrease 43% in October 2012 over October 2011.  In turn, home prices have increased in Palm Beach County in South Florida, according to the study.

According to the article, homes have historically increased 2.0% to 4.0% annually. 

Zillow.com predicts home values in the South Florida market will rise by 2.1% over the next year.

For those buyers who  were waiting on the sidelines so as to not "catch a falling knife"-- the opportunity to buy may be here. 

For sellers who were waiting to see market prices increase, it might be a good time to contact me to get your home ready to be listed.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

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

Have Palm Beach County, South Florida, Home Prices Hit A Bottom In This Cycle? : Homes For Sale: Homes For Rent

According to a recent article in the Sun-Sentinel, we may have reached the point of a "bottom" in the current real estate cycle.  Zillow.com prepared a study for the Sun-Sentinel and the conclusion seems to be that we are at, or near, the price trough for the current housing cycle in Palm Beach County.

The study showed nearly half of the 43 communities in Palm Beach County posted double-digit price gains in October 2012 over the previous low price point in the current South Florida real estate housing market cycle.

Price increases off the "bottom" does not seem to be focused on one segment of the market; it seems to be a more broad "recovery."  The study showed an increase in prices in, "exclusive waterfront enclaves and working class communities alike."

Single family home prices in Palm Beach County peaked at $421,500 in November 2005, according to the study.  The article seems to indicate Zillow.com believes we began to come off the low in Palm Beach County prices during the past 12 - 18 months. 

Although I agree we have seen improvements in the South Florida real estate market during the past year, I am still concerned about the potential for an increase in foreclosures in the coming year (2013).  Lenders were slowed in pursuit of foreclosures from the "robo-signing" situation.  I expect to see more foreclosures in the market during 2013 when compared with 2012; this could have a dampening effect on the market's continued climb in prices.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

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