A recent article entitled "Five Common Mistakes Homebuyers Make" in the Sun-Sentinel caught my eye. The article started out stating that housing market has enjoyed a resurgence during the past few months. We talked about this in a few recent posts. Because of the change in the market, some homebuyers are making common mistakes, the article argues. I think it is worth discussing these "common five mistakes."
1) Sticking with low-ball offers- given the current state of the market, a "steal" is no longer in the works.
2) Taking too long to "sleep on it"- the article states what we have been discussing as well, which is "properites prices appropriately in desirable neighborhoods tend to go under contract within days or weeks or sometimes hours."
3) Littering the contract with contingencies- a 30 day inspection period or being contingent on a relative touring the property won't "fly" in the current market. It is recommended that the contract come in "clean."
4) Failing to make a personal impression on the seller- some homes get two or three bids and the article states the winning bid is not only about money. The article suggests buyers should meet the seller's agent, strike up a conversation with the listing agent because they have input with the owner as to who will ultimately have the winning bid.
5) Waiting to get pre-approved for a mortgage before starting the search - I couldn't agree more. Getting financing in place is important in the market, which the article states is about 50% cash buyers in South Florida. Some sellers even require a pre-approval letter before an offer is made.
The article talks about what is a "pre-approved" buyer-- the article states, " a pre-approved buyers has submitted pay stubs, bank statements and other paper-work and received a commitment for a specific mortage amount from a lender."
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
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
Thursday, September 13, 2012
Saturday, September 1, 2012
Short Sales: Do You Have To Be Late On Payments To Apply? Homes For Sale: Homes For Rent
In the Sunday, August 26th Sun-Sentinel, the "Ask a Real Estate Pro" I came away with an interesting question about short sales-- do you need to be late on your payments to be eligible for a short sale. The writer explained that he has a hardship, but was not 45 days late on payment. As a result of the non-late payment, he was denied on his short sale request.
The author of the article, Gary Singer, recommended trying a short sale while still making payments. He explained some lenders are willing to work while the owner is still current on payments. Mr. Singer explained he has been told some lenders require the loan to be delinquent as a way of scaring away "strategic" short sellers.
Mr. Singer further explained sometimes the difference between a denial and an approval has more to do with the individual negotiator than the lender themselves. In addition, he points out that lenders also change their policies.
When I work with my clients when both representing homeowners and buyers, I tend to lean towards going after the short sales that are delinquent on their payments. It eliminates potential confusion and hassles for both sides of the potential transaction. However, as Mr. Singer points out, it is possible to pursue a short sale without the payment delinquency.
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
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 author of the article, Gary Singer, recommended trying a short sale while still making payments. He explained some lenders are willing to work while the owner is still current on payments. Mr. Singer explained he has been told some lenders require the loan to be delinquent as a way of scaring away "strategic" short sellers.
Mr. Singer further explained sometimes the difference between a denial and an approval has more to do with the individual negotiator than the lender themselves. In addition, he points out that lenders also change their policies.
When I work with my clients when both representing homeowners and buyers, I tend to lean towards going after the short sales that are delinquent on their payments. It eliminates potential confusion and hassles for both sides of the potential transaction. However, as Mr. Singer points out, it is possible to pursue a short sale without the payment delinquency.
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
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
Case Shiller Index: June 2012: Sustained US Housing Recovery? Homes For Sale: Homes For Rent
The June 2012 Case-Shiller Home Price Index seems to show signs of a sustained US housing recovery.
The following is a quote from the report: "We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change. The market may have finally turned around."
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
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 following is a quote from the report: "We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change. The market may have finally turned around."
The US housing market was up 2.3% on a sequential basis in June 2012 and up 0.5% on a year-over-year basis.
The South Florida housing market continued its positive trends with 1.6% growth on a sequential basis in June 2012 and 4.4% annual growth. As discussed in previous posts, the inventory levels seems to have decreased during the past three months. The trend has resulted in more buyer interest in current listings with prices increasing, according to the Case Shiller Index.
Other markets of interest:
| May-12 | Monthly | Sequential | Annual |
| Metropolitan Area | Level | Change | Change |
| Boston | 154.43 | 2.50% | 0.00% |
| Chicago | 113.61 | 4.60% | -1.70% |
| Miami | 145.62 | 1.60% | 4.40% |
| Minneapolis | 118.74 | 4.80% | 5.70% |
| New York | 163.4 | 2.10% | -2.10% |
| Tampa | 132.84 | 1.90% | 3.40% |
| Composite 10 | 155.02 | 2.20% | 0.10% |
| Composite 20 | 142.21 | 2.30% | 0.50% |
| Source: | |||
| S&P Indices | |||
| Firserv |
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
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, August 18, 2012
More Accurate Housing Data Coming To Florida: Homes For Sale: Homes For Rent
The Palm Beach Post recently posted an article stating Florida will be the first state in the nation to get its own home sales price index; it will be similar to the Case-Shiller Housing Index. The launch is scheduled for September 2012.
The index will be created by the Florida Realtors and will be released quarterly; the data will go back to 1995. The index should be an improvement over the Case-Shiller Housing Index, which only includes data for Tampa and South Florida (a combination of Palm Beach, Broward and Dade Counties).
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
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 index will be created by the Florida Realtors and will be released quarterly; the data will go back to 1995. The index should be an improvement over the Case-Shiller Housing Index, which only includes data for Tampa and South Florida (a combination of Palm Beach, Broward and Dade Counties).
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
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
Is It Better To Buy A Home Right Now Or Rent? Zillow Weighs In: Homes For Sale: Homes For Rent
We have heard a lot about whether it is better to buy than to rent in the current market. According to Zillow, in three quarters of the United States the break-even point is three (3) years. In other words the amount of time it takes before owning is better financially than renting, is three years, on average, in the US-- according to Zillow.
Zillow comments that it is even better for home buyers in the West Palm Beach and Miramar areas on Florida, which sport a break-even point of less than 1 1/2 years. The Fort Lauderdale area is relatively in-line with the nation's average, at 2.8 years, according to Zillow.
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
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 comments that it is even better for home buyers in the West Palm Beach and Miramar areas on Florida, which sport a break-even point of less than 1 1/2 years. The Fort Lauderdale area is relatively in-line with the nation's average, at 2.8 years, according to Zillow.
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
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
Wednesday, August 15, 2012
The Delray Affair
Florida's sunny weather offers the capability for many outdoor activities. One that is fun for the whole family is The Delray Affair, which is the largest arts and craft festival in the Southeast US. The event takes place along the downtown streets of Delray Beach and stretches 12 city blocks from the Intracoastal to NW 2nd Avenue and two city parks. The event takes place in early April and admission is free.
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
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
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
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
Boston's In Delray Beach
Having lived for a while in Boston and now living in South Florida, I can bring back my days in New England with a visit to Boston's on the Beach in Delray Beach. The fresh seafood and nostalgic New England decor will bring you to the northeast despite the palm trees and beach front location.
The restaurant is located at 40 South Ocean Boulevard in Delray Beach. Stop by, get a drink or a bite to eat and then stroll the beach. Especially those who are seasonal renters and winter residents will enjoy the atmosphere of the true New England feel and the warm breezes off the ocean.
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
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 restaurant is located at 40 South Ocean Boulevard in Delray Beach. Stop by, get a drink or a bite to eat and then stroll the beach. Especially those who are seasonal renters and winter residents will enjoy the atmosphere of the true New England feel and the warm breezes off the ocean.
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
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)