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

Tuesday, July 29, 2014

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

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

Tuesday, May 20, 2014

Zillow Reports "Underwater" Households Is Down, But Remains "Elevated"

Zillow reported that there are nearly 10 million US households that have homes that are worth less than their mortgage (i.e., underwater). Zillow reports about 18.8% of US homeowners with a mortgage is "underwater" in 1Q:14; this compares with 19.4% at the end of 1Q:13.

Another issue for the market is about another 10 million US households have 20% or less equity in their homes, according to Zillow. A report in the Wall Street Journal (WSJ) explains with about 40% of US homeowners with a mortgage "underwater" or lacking enough equity to sell their home, it might put a damper on the US housing market.

The WSJ article goes on to report that many of the less expensive homes in the US, the lower third of the spectrum, is more likely to be "underwater." The theory is that this is inhibiting those who use the equity in the home for expenses to "trade up" (i.e., get a larger home). This is causing the first time homebuyer to be shut out as they tend to buy lower priced homes as a starter home and then move up.

There still seems to be more demand than current inventory levels can supply in the South Florida market. As such, prices continue to climb in the area with much of the sales being cash deals. However, I am working with buyers now who are getting mortgages and buying homes. I also work with first time homebuyers and help them through the purchase process.

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

Friday, April 25, 2014

New Construction in Boca Raton: Townhomes With Non-Mandatory Golf and Clubhouse

A new project is being put forth in Boca Raton located north of SW18th Street and west of Powerline Road. There are only 100 townhomes being built and are expect to be completed by March 2015.

The community will have its own, private recreation area with a pool overlooking the lake. The community will be pet friendly (with restrictions) and each homebuyer will be granted one-year social membership to the club. The community will also have a 24-hour manned gatehouse.

The townhomes will be 3 to 4 bedrooms with 2,100 to 2,490 living square feet, a garage (1 and 2 car) with lake, canal and garden view lots.

I have reviewed the layouts and reviewed the plans. I can help you navigate the buying process on this new project, from viewing the home, to negotiating the extras, to taking pictures throughout the build-out, keep up on delivery dates, up to the final move-in.

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: January 2014: Cold Weather Up North, Good For South Florida Real Estate Market

The Case Shiller report for January 2014 showed a similar trend as the December 2013 report. The South Florida market was up 0.7% sequentially in January 2014 and was up 16.5% on a year-over-year basis. The US housing market was essentially flat on a sequential basis in January 2014 and was up about 13.4% on a year-over-year basis.

David Blitzer, Chairman of the Index Committee, stated, "The housing recovery may have taken a breather due to cold weather." He went on to say, "expectations and recent data point to continued home price gains for 2014. Although most analysts do not expect the same rapid increase we saw last year, the consensus is for moderating gains."

I think the cold winter in the northern portion of the US will help drive demand in South Florida. While the severe cold may have hurt sales in the US for the month, South Florida's home price increase outpaced the US as a whole on a year-over-year basis and sequentially in January 2014. Based on indications from clients in the north, I expect a pick up in demand for the South Florida housing market due to the inclement weather during the past winter. This could translate into an outperformance in price appreciation for the South Florida market vis-a-vis the US as a whole.

Other areas of interest:

Jan-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	167.83	-0.50%	9.10%

Chicago	123.73	-1.20%	10.80%

Miami	178.85	0.70%	16.50%

Minneapolis	137.25	-0.60%	9.40%

New York	172.05	0.10%	6.70%

Tampa	155.79	0.40%	14.90%

Composite 10	180.08	0.00%	13.50%

Composite 20	165.5	-0.10%	13.20%

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: December 2013: Heat Remains In South Florida Real Estate Market

The South Florida real estate market continued to have price appreciation in December 2013, according to the Case Shiller Index. The Index indicated there was almost a 1.0% sequential increase and a 16.5% year-over-year increase in December 2013. This compares with a relatively flat prices on a sequential basis for the US and only a 13.5% annual increase in December 2013 for the US.

David Blitzer, Chairman of the Index Committee said, "The Case Shiller Index ended its best year since 2005. However, gains are slowing from month-to-month and the strongest part of the recovery in home values may be over."

He went on to say, "Recent economic reports suggest a bleaker picture for housing. Existing home sales fell 5.1% in January from December to the slowest pace in over a year. Permits for new residential construction and housing starts were both down and below expectations."

We are noting here that the Florida market has shown some of its strongest year-over-year growth comparisons during the December 2013 timeframe. A seasonally strong period for the South Florida market is the winter months; however, the comparison was with same period the previous year. We think this shows the South Florida real estate market continues to be a strong market with upward momentum in pricing.

Here are other areas of interest:

December	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.65	-0.10%	9.60%

Chicago	125.29	-0.50%	11.30%

Miami	177.57	0.90%	16.50%

Minneapolis	138.14	-0.70%	9.70%

New York	172.18	-0.30%	6.30%

Tampa	155.23	0.30%	15.80%

Composite 10	180.13	0.00%	13.60%

Composite 20	165.69	-0.10%	13.40%

Source:
S&P Indices
Firserv

Sunday, February 16, 2014

New Construction In Boynton Beach: Valencia Cove-- My Visit And The "Realtor Question"

I visited the new community by GL Homes called Valencia Cove. It is an age-restricted community in Boynton Beach. GL Homes was kind enough to host a broker's open and show Realtors around the community. We were privy to information as well as a nice spread of food, drinks, snacks, etc, set up for us.

Gorgeous Home Designs 2

Along with the buyer's agents the crowed was intermingled with people looking at homes. I met two women who were in another Valencia community nearby who explained they were just looking around. They asked me why the brokers were at the community. And then, the question on most people's mind, I'm sure: "why would we need a broker in a new community anyway?"

I just smiled politely and explained that they would probably want someone working on their behalf when purchasing a home. The salespeople are very nice, but they work for the builder, I work for the buyer. I explained the commission is baked into the price and it is being paid regardless. If they are out of town, I will help buyers by taking pictures of the ongoing construction in each phase of build out. I would help my customer select the extras that will add the most value to the home for re-sale, etc.

The reply from the two women was with a smile, "thanks, we were just curious, because we are just looking and not interested in leaving our current Valencia community." I have seen many of these communities, both new and in existence. When customers tell me what they like, I can eliminate or tell them which communities are best suited for them. I get verification whether we are on the correct track or not by setting up visits and getting feedback right on the spot.

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: 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