South Florida Real Estate- Buying and Selling Homes in the Boca Raton Area: 1Q

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Thursday, July 2, 2015

Case Shiller Home Price Index: March 2015: South Florida Home Prices Increased- Good Time To Sell Your Home In Boca Raton?

If you are thinking of selling your Boca Raton home or in the market to buy a house in Boca Raton or the surrounding South Florida area, it is important to understand the current market. The posts are designed to keep home sellers and home buyers in the are informed.

Home prices in the US increased by almost 5.0% in March 2015 over March 2014, according to the Case Shiller Home Price Index; this is indicated by the 10- City Composite and the 20- City Composite.

South Florida home prices increased by 8.7% in March 2015 over March 2014, according to Case Shiller Index.

On a sequential basis, the South Florida market home price increased by 1.0%, approximately 10 basis points better than the US as indicated by the Case Shiller 10- and 20- City Composite.

According the Case Shiller Index, home prices are back to autumn 2004 prices. When measuring from the June/July 2006 peak, the US market declined by about 15% to 16%, according to Case Shiller. The Index also indicates a recovery in US home prices of about 30% to 31% from the March 2012 low.

If you are interested in selling your home in the Boca Raton area, now may be a good time to get the highest sales price.

Other areas of interest:

Mar-15	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	176.14	0.40%	4.60%

Chicago	127.77	0.90%	3.40%

Miami	196.77	1.00%	8.70%

Minneapolis	141.27	0.90%	3.00%

New York	175.12	-0.10%	2.70%

Tampa	167.36	1.40%	8.10%

Composite 10	190.04	0.80%	4.70%

Composite 20	175.2	0.90%	5.00%

Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. 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

Tuesday, April 28, 2015

Case Shiller Home Price Index: February 2015: South Florida One Of The Strongest Areas In US For Price Appreciation

Home prices in the Boca Raton area continue to rise. If you are looking for homes to purchase in the area, this might be a good time as per the information below. The data also supports a continued solid home market for those who are selling homes in the Boca Raton area. I find there is still a lot of interest in single family homes, townhouses as well as condos in the area.

David Blitzer, Managing Director of the Index Committee at S&P Dow Jones Indices is quoted in the February Case Shiller Home Price Index report as saying, "home prices continue to rise and outpace both inflation and wage gains."

Another interesting tid-bit from the February Case Shiller Home Price Index report was a comment about current pricing by comparing the current market with the pre-boom period of January 2000. The report stated, "a better sense of where home prices are can be seen by starting in January 2000, before the housing boom accelerated and looking at real or inflation adjusted numbers. Based on the S&P/Case-Shiller National Home Price Index, prices rose 66.8% before adjusting for inflation from January 2000 to February 2015; adjusted for inflation, this is 27.9% or a 1.7% annual rate." I take the comments that current home prices in the US do not seem to be overpriced.

Since the June/July 2006 peak, the US market decline has been about 15% to 17%, according to Case Shiller. Also, Case Shiller reports the US market has recovered by about 28.8% to 29.5% since the March 2012 lows.

The South Florida market has seen home prices increase by 0.6% on a sequential basis in February 2015 and rose by 9.2% on a year-over-year basis in February 2015, according to Case Shiller; this is among the strongest price appreciation levels in the country.

Other areas of interest:

Feb-15	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	175.3	-0.20%	5.00%

Chicago	126.72	0.00%	3.40%

Miami	194.93	0.60%	9.20%

Minneapolis	140.15	0.10%	3.10%

New York	175.6	0.20%	2.50%

Tampa	165.23	0.40%	6.90%

Composite 10	188.62	0.50%	4.80%

Composite 20	173.67	0.50%	5.00%

Source:
S&P Indices
Firserv

Tuesday, April 21, 2015

Mortgage: 30-Year Mortgage Rates And 15-Year Mortgage Rates Still Near Historic Lows

Cal me for contacts in the mortgage industry at 561-247-3550. Also, search homes for sale in the Boca Raton area for free on the MLS listings: click here

Freddie Mac noted the average 30-year fixed rate mortgage was 3.67% during the week of April 17, 2015. The average 15-year mortgage was 2.94%, according to Freddie Mac.

Last year during the same time the average 30-year mortgage rate was 4.27% and the 15-year mortgage rate was 3.33%, according to Freddie Mac.
Image result for mortgage rates

The record low was 3.35% for a 30-year mortgage in November and December 2012; the 15-year rate record low was at 2.66% at that time, according to the Associated Press.

With the Federal Reserve giving indications it will begin raising short-term rates, this might be a good time to consider locking in a mortgage rate.

I take an analytical approach to buying, selling and leasing real estate. 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

Tuesday, April 7, 2015

Case Shiller Home Price Index: January 2015: South Florida Continues to Shine

There are many homes for sale in Boca Raton. I can help you find a home for sale in Boca Raton or list your home for sale in the Boca Raton area. In either case, it is important to know the individual market in the South Florida area in which you are interested in buying or selling in.

Denver and South Florida reported the highest year-over-year gains in January 2015, according to the Case Shiller Home Price Index.

South Florida had a year-over-year increase of 8.3%, according to Case Shiller, in January 2015, which compares with about 4.5% for the US as per the Case Shiller Composites 10 and 20.

Case Shiller showed that on a sequential basis South Florida increased in value by 0.7% in January 2015, compared with a flat sequential comparison for the US as reflected in the Composites 10 and 20.

David Blizer, Managing Director and Chairman of the Index Committee said the following in the January 2015 report: "The combination of low interest rates and strong consumer confidence based on solid job growth, cheap oil and low inflation continue to support further increases in home prices."
Image result for florida oranges

He went on to say, "Despite price gains, the housing market faces some difficulties. Home prices are rising roughly twice as fast as wages, putting pressure on potential homebuyers and heightening the risk that any uptick in interest rates could be a major setback. Moreover, the new home sector is weak; residential construction is still below pre-crisis peak."

Other areas of interest:

Jan-15	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	175.69	0.40%	4.70%

Chicago	126.81	-0.20%	2.50%

Miami	193.76	0.70%	8.30%

Minneapolis	140.2	-0.30%	2.20%

New York	175.54	0.20%	2.10%

Tampa	164.69	-0.30%	5.70%

Composite 10	187.8	0.00%	4.40%

Composite 20	172.94	0.00%	4.60%

Source:
S&P Indices
Firserv

Tuesday, July 29, 2014

Case Shiller Housing Index: March 2014: South Florida Price Recovery Outpacing The US

The Case Shiller Housing Index showed a 12.5% year-over-year increase for March 2014 over March 2013. The South Florida market increased 16.2% during the same time-frame, according to the Case Shiller Index. On a sequential basis, the South Florida market was up 1.4% and the US market was up by about 0.8%, according to the Case Shiller Index.

David Blitzer, Chairman of the Index Committee stated, "year-over-year changes suggest that prices are rising more slowly." He also said, "housing indicators remain mixed. April housing starts recovered the drop in March but virtually all the gain was in apartment construction, not single family homes. New home sales also rebounded from recent weakness but remain soft. Mortgage rates are near a seven month low but recent comments from the Fed point to bank lending standards as a problem. Other comments include arguments that student loan debt is preventing many potential first time buyers from entering the housing market."

Home prices for the US were back to mid-2004 levels in February 2014, according to Case Shiller. Measured from the June/July 2006 peak, the US Composite is about 19%-20% off the high level. The recovery from the March 2012 low is about 24%, according to Case Shiller.

Some area of interest:

Mar-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.54	0.90%	8.20%

Chicago	123.42	0.70%	11.50%

Miami	181.11	1.40%	16.20%

Minneapolis	137.33	1.00%	11.50%

New York	170.75	-0.30%	6.60%

Tampa	154.79	0.10%	10.70%

Composite 10	181.43	0.80%	12.60%

Composite 20	166.8	0.90%	12.40%

Source:
S&P Indices
Firserv

Call me today for more information.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, 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

Case Shiller Index: February 2014: South Florida Year-Over-Year Price Increase Still Outpacing US

The Case Shiller Housing Index showed a 13.0% year-over-year increase for February 2014 over February 2013. The South Florida market increased 16.0% during the same time-frame, according to the Case Shiller Index. On a sequential basis, the South Florida market was down 0.2% and the US market was flat, according to the Case Shiller Index.

David Blitzer, Chairman of the Index Committee stated, "despite continued price gains, most other housing statistics are weak. Sales of both new and existing homes are flat to down." He went on to say, "home prices nationally have not made it back to 2005. Mortgage interest rates, which jumped in May last year and are steady since then, are blamed by some analysts for the weakness."

Home prices for the US were back to mid-2004 levels in February 2014, according to Case Shiller. Measured from the June/July 2006 peak, the US Composite is about 20% off the high level. The recovery from the March 2012 low is about 23%, according to Case Shiller.

Some area of interest:

Feb-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	166.98	-0.50%	8.50%

Chicago	122.61	-0.90%	10.80%

Miami	178.57	-0.20%	16.00%

Minneapolis	135.96	-0.90%	9.20%

New York	171.29	-0.40%	6.10%

Tampa	154.63	-0.70%	13.40%

Composite 10	179.96	0.00%	13.10%

Composite 20	165.35	0.00%	12.90%

Source:
S&P Indices
Firserv

South Florida Real Estate- Buying and Selling Homes in the Boca Raton Area