New homes are projected to increase in price as a result of increased costs for land, materials and labor.
Pulte Homes has increased its prices by 10%, on average, in the first quarter of 2013, as an example.
Also, some builders are also slowly introducing new homes onto the market in order to tamp down the supply of new homes.
In the current market, new construction and home re-sales have been selling quickly with prices increasing.
I can help you find a new construction home as builders cooperate with real estate professionals. Agents are invited for special tours and are given information about the new homes, new community and plans for the future.
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
Saturday, May 18, 2013
Wednesday, May 8, 2013
Palm Beach County And Broward County Home Prices Rise In March 2013
The housing market in South Florida remains on an upward price trend.
The Realtors Association of the Palm Beaches reported a 28% year-over-year increase in the median price of existing homes in March 2013. The median price of an existing home in Palm Beach County was $249,894 in March 2013.
The Greater Fort Lauderdale Realtors reported a 26% year-over-year increase, to $242,500 for the median price of existing homes in Broward County during March 2013.
As I have mentioned before, homes that are on the market are selling quickly. If you are interested in buying a home that is on the market, I suggest you do not hesitate to make an offer. Those who are thinking of selling their homes may want to act now as the South Florida housing market is more favorable than it was a year ago.
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
The Realtors Association of the Palm Beaches reported a 28% year-over-year increase in the median price of existing homes in March 2013. The median price of an existing home in Palm Beach County was $249,894 in March 2013.
The Greater Fort Lauderdale Realtors reported a 26% year-over-year increase, to $242,500 for the median price of existing homes in Broward County during March 2013.
As I have mentioned before, homes that are on the market are selling quickly. If you are interested in buying a home that is on the market, I suggest you do not hesitate to make an offer. Those who are thinking of selling their homes may want to act now as the South Florida housing market is more favorable than it was a year ago.
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
Thursday, May 2, 2013
US Home Prices Continue to Climb, According to the Case Shiller Index
The US housing market continues to show solid growth, according to the Case Shiller Home Price Index. Home prices increased by about 9.0% in February 2013 over February 2012; home prices were up about 0.4% on a sequential basis during February 2013, according to the Case Shiller Home Price Index.
The South Florida market had an annual increase of 10.4% on a year-over-year basis in February 2013; this is slightly above the national average. The sequential uptick was about 0.3% in February 2013; this is relatively inline with the national average.
I found the following quote from the Case Shiller report interesting: "Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy. The 2013 first quarter GDP report shows that residential investment accelerated from the 2012 fourth quarter and made a positive contribution to growth. One question is the mix of single family and apartments; housing starts data show a larger than usual share is apartments."
As I have been stating, there continues to be a shortage of homes on the market in many of the South Florida communities. The dearth of homes is pushing up prices and making for quick sales turnaround times.
Areas of interest are as follows:
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
The South Florida market had an annual increase of 10.4% on a year-over-year basis in February 2013; this is slightly above the national average. The sequential uptick was about 0.3% in February 2013; this is relatively inline with the national average.
I found the following quote from the Case Shiller report interesting: "Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy. The 2013 first quarter GDP report shows that residential investment accelerated from the 2012 fourth quarter and made a positive contribution to growth. One question is the mix of single family and apartments; housing starts data show a larger than usual share is apartments."
As I have been stating, there continues to be a shortage of homes on the market in many of the South Florida communities. The dearth of homes is pushing up prices and making for quick sales turnaround times.
Areas of interest are as follows:
| Feb-13 | Monthly | Sequential | Annual |
| Metropolitan Area | Level | Change | Change |
| Boston | 153.89 | 0.10% | 5.20% |
| Chicago | 110.72 | -0.80% | 5.10% |
| Miami | 153.97 | 0.30% | 10.40% |
| Minneapolis | 123.81 | -0.90% | 12.00% |
| New York | 162 | 0.40% | 1.90% |
| Tampa | 136.33 | 0.60% | 10.00% |
| Composite 10 | 159.24 | 0.40% | 8.60% |
| Composite 20 | 146.57 | 0.30% | 9.30% |
| 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 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
Sunday, April 14, 2013
Will Mortgage Rates Rise? What Effect Will Rising Mortgage Rates Have?
Banks seem to be lending money for home purchases to a very select group of people. This means only a small percentage of people can benefit from the 3.0%+ mortgage rates being offered. What reason could the banks have?
The lenders seem to be concerned about potential issues with their balance sheets if interest rates rise. Should interest rates rise to 5.0% or higher, the banks might be forced to write down the value of existing loans on homes. As such, the banks may need to raise funds in order to have adequate reserves and keep their leverage ratios in compliance with mandates.
For the banks the solution seems to be lend little and to only the most creditworthy. Should rates rise, they would not have many lower interest rate loans on the books and the prospect for defaults would be less as a result of lending to only to those with the highest levels of creditworthiness.
Eventually rates will increase; the Federal Reserve cannot hold down rates forever. Therefore, if you are among the lucky few who can get a mortgage at the favorable rates being offered today, you might want to take action. Whether that means refinancing or trading up or down to a new home, it might be a good time to take action.
I can help you with both finding the right home, selling your current home and putting you in touch with mortgage professionals that I know-- all with no obligation to you. I have relationships with mortgage professionals who are willing to work with my customers with no obligation. Please contact me for all of your questions, whether they be related to financing, the housing market, or even how close a shopping center is to a certain community.
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
The lenders seem to be concerned about potential issues with their balance sheets if interest rates rise. Should interest rates rise to 5.0% or higher, the banks might be forced to write down the value of existing loans on homes. As such, the banks may need to raise funds in order to have adequate reserves and keep their leverage ratios in compliance with mandates.
For the banks the solution seems to be lend little and to only the most creditworthy. Should rates rise, they would not have many lower interest rate loans on the books and the prospect for defaults would be less as a result of lending to only to those with the highest levels of creditworthiness.
Eventually rates will increase; the Federal Reserve cannot hold down rates forever. Therefore, if you are among the lucky few who can get a mortgage at the favorable rates being offered today, you might want to take action. Whether that means refinancing or trading up or down to a new home, it might be a good time to take action.
I can help you with both finding the right home, selling your current home and putting you in touch with mortgage professionals that I know-- all with no obligation to you. I have relationships with mortgage professionals who are willing to work with my customers with no obligation. Please contact me for all of your questions, whether they be related to financing, the housing market, or even how close a shopping center is to a certain community.
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
Saturday, April 13, 2013
Is The Mortgage Situation Improving?
After the credit crisis and the housing market crash, it was very difficult to get a loan. I think this is one of the reasons for the malaise in the housing market during that period of time.
However, a recent article on CNBC.com indicates there is a bit of easing in the mortgage market. The article indicates lenders are beginning to me more accepting of "average loan candidates." The last several years saw the majority of loans being made out to borrowers who put down at least 20% and had an average credit score of 760, according to the article.
Seemingly, lenders are now making more loans to borrowers who do not have all of the criteria listed above. Maybe they are putting down less than 20% with a mid-700 credit score or have a credit score a bit under 760 with 20% down. Apparently, some lenders are willing to finance 95% of the home's value as PMI insurance is becoming increasingly available. Federal Housing Administration (FHA) insured mortgages are also increasing in popularity.
I have relationships with mortgage professionals who are willing to work with my customers with no obligation. Please contact me for all of your questions, whether they be related to financing, the housing market, or even how close a shopping center is to a certain community.
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
However, a recent article on CNBC.com indicates there is a bit of easing in the mortgage market. The article indicates lenders are beginning to me more accepting of "average loan candidates." The last several years saw the majority of loans being made out to borrowers who put down at least 20% and had an average credit score of 760, according to the article.
Seemingly, lenders are now making more loans to borrowers who do not have all of the criteria listed above. Maybe they are putting down less than 20% with a mid-700 credit score or have a credit score a bit under 760 with 20% down. Apparently, some lenders are willing to finance 95% of the home's value as PMI insurance is becoming increasingly available. Federal Housing Administration (FHA) insured mortgages are also increasing in popularity.
I have relationships with mortgage professionals who are willing to work with my customers with no obligation. Please contact me for all of your questions, whether they be related to financing, the housing market, or even how close a shopping center is to a certain community.
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
Sunday, March 31, 2013
Case Shiller Index: January 2013: Shows Strong Year-Over-Year Price Appreciation:
The US housing market continues to show price appreciation on a year-over-year basis in January 2013, according to the Case Shiller Housing Index.
The US housing market was up in the range of 7.0% to 8.0% during January 2013 over January 2012.
The South Florida housing market remains strong with almost 1.0% sequential growth and almost 11.0% year-over-year growth in January 2013.
The Case Shiller Report stated, "economic data continues to support the housing recovery. Single-family home building permits and housing starts posted double-digit year-over-year increases in February 2013. Despite a slight uptick in foreclosure filings, numbers are still down 25% year-over-year. Steady employment and low borrowing rates pushed inventories down to their lowest post-recession levels."
The data from the report is in line with what we have been stating during the past six months or more about the activity in the local South Florida market. Inventory levels continue to be low and buyers are trying to get in before rates rise.
A look at some of the markets we focus on:
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
The US housing market was up in the range of 7.0% to 8.0% during January 2013 over January 2012.
The South Florida housing market remains strong with almost 1.0% sequential growth and almost 11.0% year-over-year growth in January 2013.
The Case Shiller Report stated, "economic data continues to support the housing recovery. Single-family home building permits and housing starts posted double-digit year-over-year increases in February 2013. Despite a slight uptick in foreclosure filings, numbers are still down 25% year-over-year. Steady employment and low borrowing rates pushed inventories down to their lowest post-recession levels."
The data from the report is in line with what we have been stating during the past six months or more about the activity in the local South Florida market. Inventory levels continue to be low and buyers are trying to get in before rates rise.
A look at some of the markets we focus on:
| Jan-13 | Monthly | Sequential | Annual |
| Metropolitan Area | Level | Change | Change |
| Boston | 153.8 | 0.10% | 4.00% |
| Chicago | 111.62 | -0.70% | 3.30% |
| Miami | 153.51 | 0.80% | 10.80% |
| Minneapolis | 124.95 | -0.20% | 12.10% |
| New York | 161.64 | -0.50% | 0.60% |
| Tampa | 135.2 | 0.20% | 8.90% |
| Composite 10 | 158.72 | 0.20% | 7.30% |
| Composite 20 | 146.14 | 0.20% | 8.10% |
| 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 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
Thursday, March 21, 2013
Foreclosures To Flood South Florida Housing Market?
As we have discussed, the inventory levels of homes on the market seems to be dwindling in South Florida. According to an article in the Sun-Sentinel, listings have dropped by about 50% from a year ago. The article went on to say large investment firms are investing millions of dollars in distressed properties in the South Florida market. The result has been a rise in prices.
We have wondered about the possibility that more foreclosures will potentially disrupt the upward trend of home price in the South Florida market. The Sun-Sentinel quoted RealtyTrac as saying there are currently 56,000 homes in Palm Beach and Broward counties that are in the "shadow inventory." The "shadow inventory" has not yet been introduced for sale onto the market.
Some experts believe the banks will not rush to bring many foreclosed homes on the market as to not ruin the positive price momentum. Also, the continued interest by the large investment firms will most likely shut out individual buyers to those institutional investors who are buying homes in bulk. The result may be a continued shortage of homes.
One of the important trends to follow is the number of distressed properties that hit the market during the current calendar year. If the banks hold back inventory of foreclosures and/or institutional investors continue to target the South Florida housing market, we could continue to see tight inventory levels. However, if the banks begin to increase the number of foreclosed properties being introduced into the market, prices could level-out or even decrease.
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
We have wondered about the possibility that more foreclosures will potentially disrupt the upward trend of home price in the South Florida market. The Sun-Sentinel quoted RealtyTrac as saying there are currently 56,000 homes in Palm Beach and Broward counties that are in the "shadow inventory." The "shadow inventory" has not yet been introduced for sale onto the market.
Some experts believe the banks will not rush to bring many foreclosed homes on the market as to not ruin the positive price momentum. Also, the continued interest by the large investment firms will most likely shut out individual buyers to those institutional investors who are buying homes in bulk. The result may be a continued shortage of homes.
One of the important trends to follow is the number of distressed properties that hit the market during the current calendar year. If the banks hold back inventory of foreclosures and/or institutional investors continue to target the South Florida housing market, we could continue to see tight inventory levels. However, if the banks begin to increase the number of foreclosed properties being introduced into the market, prices could level-out or even decrease.
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
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