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

Sunday, February 16, 2014

Case Shiller Price Index: November 2013: US Price Increases Start To Cool, Florida Remains Hot

Case Shiller Housing Report showed the South Florida market increased 1.1% on a sequential basis in November 2013, while the US slowed by -0.1% during the same time. On a year-over-year basis, South Florida's home prices were up 16.5% in November 2013, according to Case Shiller, and the US increased by about 13.7% during the same time.

The Case Shiller report noted, " Despite the slight decline (for the US), the (US composites) showed their best November performance since 2005. The report seems to indicate that despite a somewhat soft sequential decline, the US market was the most aggressive in the month of November since 2005.

The report also noted prices continued to rise despite an increase in mortgage rates during May 2013. Also, it was noted that mortgage applications were up as well.

Other areas of interest:

Nov-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.78	0.20%	9.80%

Chicago	125.87	-1.20%	11.00%

Miami	176.02	1.40%	16.50%

Minneapolis	139.05	0.00%	10.50%

New York	172.54	-0.40%	6.00%

Tampa	154.7	0.20%	15.70%

Composite 10	180.15	-0.10%	13.80%

Composite 20	165.8	-0.10%	13.70%

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

Case Shiller Price Index: October 2013: Florida's Home Prices Rebound Outpaces US in October 2013

The South Florida real estate market saw a 15.8% price increase in October 2013, over the previous year, according to the Case Shiller Housing Price Index. On a sequential basis, the South Florida market was up 1.1% in October 2013, according to Case Shiller.
The US continued to show upside price appreciation of 0.2% on a sequential basis in October 2013 and 13.6% year-over-year price appreciation during the same time frame, according to Case Shiller.

I continue to see solid demand for homes in the South Florida market. The Case Shiller report highlighted the South Florida market in its report: [the South Florida market's] "annual rate increased the most from 14.3% in September to 15.8% in October."

In regards to 2014, the Case Shiller report stated, "Most forecasts for home prices point to single digit growth in 2014." The quote is referring to price appreciation for the US housing market in 2014.

Some areas of interest:

Oct-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.43	-0.30%	8.60%

Chicago	127.42	-0.50%	10.90%

Miami	173.63	1.10%	15.80%

Minneapolis	139.11	0.50%	11.30%

New York	173.23	0.00%	4.90%

Tampa	154.4	0.10%	15.20%

Composite 10	180.27	0.20%	13.60%

Composite 20	165.91	0.20%	13.60%

Source:
S&P Indices
Firserv

Tuesday, December 17, 2013

Zillow Predicts 2014 US Housing Market Trends : Boca Raton Homes For Sale, Boca Raton Homes For Rent

What is Zillow Saying?

Predictions for next year's housing market is beginning with the close of calendar 2013. Svenja Gudell, Director of Economic Research at Zillow, has made some predictions for the US housing market in 2014.
Zillow expects the housing market to continue to recover, but at a slower pace.

Zillow predicts home values will increase by 3% in the US during 2014. Zillow expects the following factors to dampen the growth: 1) higher mortgage rates; 2) higher prices; 3) more supply-- from a) fewer underwater homeowners and b) new construction.

Mortgage rates are predicted to be higher, according to Zillow, due to a reduction in Federal Reserve bond purchasing. Zillow expects rates to exceed 5% in 2014; Mortgage Banker's Association reported the average 30-year fixed rate was 4.51% at the week ended November 29, 2013.

Somewhat offsetting the rising rates will be increased mortgage availability, according to Zillow. With a reduction in refinancing activity, Zillow believes lenders will supplement the lost business by competing for new buyers. Zillow's theory is this will spur looser lending standards.

Zillow also predicts as decrease in homeownership rates. The predicted weak labor market and continued foreclosures are predicted to displace homeowners, according to Zillow. As such, the company expects a continued high demand for rentals.

What do you think? Leave your comments here.

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, December 8, 2013

Robert Shiller On US Housing Market

Robert Shiller, co-founder of Case-Shiller Index

Rober Shiller, co-founder of Case-Shiller Index was on CNBC a few weeks back to discuss the US housing market. He concluded the US housing market recovery is not on solid ground.

His theory is that large institutional investors bought up 100,000 homes, mostly foreclosed, with vast amounts of cash. He theorized this pushed up home prices, especially in some of the "hotter" US markets, such as on the West Coast.

Many of the investors are renting out these homes and some are selling bonds backed by the rental streams. Shiller theorizes that if these investors see lower-than-expected returns, they won't hesitate to dump the properties. I would take it one step further-- if prices continue to robustly appreciate, these investors might take the appreciation value and forgo the rental streams for the "next big trade."

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 Housing Index: September 2013: South Florida Market Continues To Outpace US Price Increases

Home prices in the US were near mid-2004 levels in September 2013, according to the Case Shiller Index.

The US market as indicated by the Case Shiller Composite 10 and Composite 20 showed a year-over-year increase of 13.3% in September 2013.

The South Florida market had a more robust price increase of 100 basis points when compared with the US market as a whole. The South Florida home market was up 14.3% on a year-over-year basis in September 2013, according to the Case Shiller Index report.

The report touched upon a concern about a potential "bubble" in the housing market. The commentary noted, "the strong price gains in the West are sparking questions and concerns about the possibility of another bubble." The report also pointed out home construction is below the boom levels and interest rates are expected to rise.

Other areas of interest:

Sep-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	169.04	0.50%	7.50%

Chicago	128.05	0.30%	9.70%

Miami	171.7	0.80%	14.30%

Minneapolis	138.4	0.80%	10.10%

New York	173.45	0.60%	4.30%

Tampa	154.24	0.20%	14.50%

Composite 10	180.03	0.70%	13.30%

Composite 20	165.66	0.70%	13.30%

Source:
S&P Indices
Firserv

Sunday, November 24, 2013

Economist Says Rising Mortgage Rates Will Not Hurt US Housing Market

In which direction will the market go?

Aneta Markowska, Chief US Economist for societe Generale made an interesting point about rising mortgage rates and the US housing market. Despite rising interest rates, Markowska believes US home prices will continue to rise, not fall.

Markowska's research shows American expectation is for annulized home prices to increase 5.0%. With current 30-year fixed mortgages at 4.44%, homebuyers will feel like they are up 0.56%. The relatively low interest rate compared with the anticipated appreciation of the home shows a profit, according to Markowska.

Markowska believes this will continue to spur home buying despite a rise in mortgage rates. Markowska stated, "If you're in you 20s or 30s thinking about starting a family, you're not going to be renting forever. And, I think if you expect prices to rise, you're going to be enticed to actually come in and pull the trigger."

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 Housing Index: August 2013: US Home Prices Continue To Rise, But At Slower Pace

The US housing market showed a price increase of 1.3% on a sequential basis and 12.8% on a year-over-year basis in August 2013, according to Case Shiller Housing Index.

The Sequential increase for the US housing market hit a zenith of 2.6% in April 2013 and has been increasing at a declining rate since.

The South Florida market has had a similar trend with the peak of sequential increases being 2.6% in May 2013. We also see sequential price increases for home sales at a declerating rate since May in the South Florida housing market.

The South Florida market continues to show robust price increases from a year ago, with a 13.5% year-over-year increase in August 2013. South Florida continues to outpace the US housing market for price increases as a whole on a year-over-year basis.

With the Federal Reserve situation relatively settled with Janet Yellen set to be confirmed, I foresee confidence in the market for continued low mortgage rates. This should be a positive for the housing market for 1H:14.

If you are looking to buy a home, this could be a good time as prices continue to show an inclination to increase. Sellers should be in a good position in the near-term. I work with both buyers and sellers, so please contact me if you are making a move in the South Florida market.

Other areas of interest:

Aug-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.27	0.70%	6.30%

Chicago	127.68	1.60%	8.70%

Miami	170.41	0.80%	13.50%

Minneapolis	137.34	1.80%	10.20%

New York	172.46	1.10%	3.60%

Tampa	153.93	1.80%	14.10%

Composite 10	178.75	1.30%	12.80%

Composite 20	164.53	1.30%	12.80%

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