Great Florida Homes Blog

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY
May 1, 2009 to May 31, 2009

Broward County includes well known cities of Coconut Creek, Coral Springs, Deerfield Beach, Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, Parkland, Plantation, Sunrise, Tamarac and Weston.

For the month of May 1,115 Single Family Homes SOLD in Broward County.

 293 were sold under $250,000
56 were sold between 250,001 and $500,000
56 were sold between $500,001 and $750,000
19 were sold between $750,001 and $1,000,000
13 were sold between $1,000,001 and $1,500,000
5 were sold between $1,500,001 and $2,000,000
8 were sold over $2,000,000

For the month of May 1,087 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced Multi-family homes are located in Adult only communities with an over the age of 55 requirement to live there.

989 were sold under $250,000
73 were sold between 250,001 and $500,000
 15 were sold between $500,001 and $750,000
6 were sold between $750,001 and $1,000,000
3 were sold between $1,000,001 and $1,500,000
1 was sold between $1,500,001 and $2,000,000
 None were sold over $2,000,000 

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth, Wellington and West Palm Beach.

 For the month of May 2009, 442 Single Family Homes SOLD in Palm Beach county.

 248 were sold under $250,000
137 are sold between 250,001 and $500,000
29 were sold between $500,001 and $750,000
7 were sold between $750,001 and $1,000,000 
5 were sold between $1,000,001 and $1,500,000
8 were sold between $1,500,001 and $2,000,000
8 were sold over $2,000,000

For the month of May, 500 Multi-Family Homes SOLD in Palm Beach county.

439 were sold under $250,000
37 are sold between 250,001 and $500,000
14 were sold between $500,001 and $750,000
5 were sold between $750,001 and $1,000,000
2 were sold between $1,000,001 and $1,500,000
1 was sold between $1,500,001 and $2,000,000
2 were sold over $2,000,000

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale and the Realtor Association of the Palm Beaches.

Typically this information is posted at the begining of each month and it includes the number of Actively available properties for sale as well.  A computer error created by human error, lost that information.  The figures here are only the Closed Sales for May.  We apologize for any inconvenience.

WHAT ARE YOU WAITING FOR?!?!?!

Interest Rates are historically low!  Inventory is unusually high...The only part missing is YOU!  Make a decision to move forward and invest in real estate!

Take advantage of YOUR Governments Gift to YOU!  If you buy a home before December 1st, 2009 (and We DO NOT RECOMMEND You wait that long because the Appraisal Rules are changing August 1st, 2009 that you will need SIXTY DAYS To Close on a Home Purchase - that means Be In The Game By The End of September!!!

Per the IRS.gov website, you may qualify to receive this credit if you meet the following qualifications:

"... qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own another home during the three-year period ending on the date of purchase." (That is my Favorite part.....I always thought a First was only once, but the governments definition of a First, is if you haven't in the last 3 years  ;-)

 The credit itself:

• Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
• Applies only to homes used as a taxpayer's principal residence.
• Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

If you were thinking about buying a home - talk to your accountant to see how you may qualify to get $8,000 extra dollars for buying your first home!

Call The GreatFloridaHomes Team Today to take advantage of Your Gift!!

 

The Consumer Confidence "Stimulus Package" that includes the "Homebuyer Price Guarantee" and the "Homebuyer Employment Guarantee", is available EXCLUSIVELY for Prudential Florida Realty customers,

Prudential states that, the "Homebuyer Employment Guarantee" is a mortgage payment relief program, which is designed to protect homeowners from the most common cause of missed mortgage payments and foreclosures: unexpected, involuntary job loss and being unable to work due to disability.

The coverage provides the purchaser with up to $2,000 per month, for up to 4 consecutive months at a time. There is a maximum total coverage benefit amount of $16,000 during the 24 month policy period.

The "Homebuyer Price Guarantee" states that, "If you buy a home identified as participating in the Prudential Florida Realty Homebuyer Price Guarantee Program through a Prudential Florida Realty Sales Associates, such as Joy Carter and Jeff Booker, and if in the future you decide to sell your home and market it through Prudential Florida Realty, and if at that time the property value has declined due to market conditions, Prudential Florida Realty will reduce the listing commission by 3%. 

The GreatFloridaHomes Team is proud to have the opportunity to offer these new services to their clients. "This is an opportunistic market, but also a challenging one to buyers who have many fears such as declining prices or job loss.  We believe that this new 'Stimulus Package' will help put buyers at ease. We are honored to be able to offer this to buyers out there that need that boost of confidence.

This is a great time to buy and this program addresses the main concerns of most buyers out there today."

Not sure how many people get the CFO of Florida's Newsletter....This article is a re-post from the newsletter of Chief Financial Officer, Alex Sink, for the state of Florida, that I found valuable.

JUNE IS NATIONAL HOMEOWNERSHIP MONTH

The goal for the month is to help consumers achieve the American Dream of homeownership.

As part of CFO Alex Sink's ongoing effort to promote financial literacy, the Department is participating in first-time homebuyer workshops around the state to help promote homeownership and retention. The workshops are designed to empower future homeowners in their understanding of the home-buying process and help them set manageable financial goals.

CFO Sink oversees Florida's Financial Literacy Council, and in this capacity she has worked to raise awareness about the need for increased financial literacy among Floridians and access to information and resources to support good financial decisions. Such information is more important than ever as more citizens seek to take advantage of The American Recovery and Reinvestment Act of 2009, which provides a tax credit of up to $8,000 for purchasing their first home.

Through her regional outreach coordinators, CFO Sink helps educate consumers about the impact of homeownership in their communities. Other topics include wise use of credit cards, protection from identity theft, homeowners insurance and the first-time homebuyer workshops.

The Department's first-time homebuyer presentation focuses on the basic coverage available in a standard homeowner insurance policy, explains the difference between the two deductibles found in standard homeowner policies (all perils deductible versus hurricane deductible), covers policy limitations and exclusions, and discusses purchasing flood insurance coverage.

For more information on CFO's financial literacy efforts, visit www.myfloridacfo.com.

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY April 1, 2009 to April 30, 2009

Broward County includes well known cities of Coconut Creek, Coral Springs, Deerfield Beach, Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, Parkland, Plantation, Sunrise, Tamarac and Weston.

There are currently 11,587 Single Family Homes LISTED FOR SALE in Broward County.

5014 priced under $250,000
3782 priced between 250,001 and $500,000
1071 priced between $500,001 and $750,000
592 priced between $750,001 and $1,000,000
453 priced between $1,000,001 and $1,500,000
251 priced between $1,500,001 and $2,000,000
424 priced over $2,000,000 

For the month of April, 596 Single Family Homes SOLD in Broward County.

 301 were sold under $250,000
226 were sold between 250,001 and $500,000
40 were sold between $500,001 and $750,000
15 were sold between $750,001 and $1,000,000
7were sold between $1,000,001 and $1,500,000
4 were sold between $1,500,001 and $2,000,000
3 were sold over $2,000,000

 There are currently 17,359 Multi-Family Homes LISTED FOR SALE in Broward County. 

Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

12,975 are priced under $250,000
2764 are priced between 250,001 and $500,000
757 are priced between $500,001 and $750,000
411 are priced between $750,001 and $1,000,000
268 are priced between $1,000,001 and $1,500,000
126 are priced between $1,500,001 and $2,000,000
58 are priced over $2,000,000

For the month of April, 911 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced multi family homes are located in Adult only communities with an over the age of 55 requirement to live there.

806 were sold under $250,000
 71 were sold between 250,001 and $500,000
22 were sold between $500,001 and $750,000
6 were sold between $750,001 and $1,000,000
5 were sold between $1,000,001 and $1,500,00
1 was sold between $1,500,001 and $2,000,000
None were sold over $2,000,000 

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth,  Wellington and West Palm Beach.

There are currently 8,931 Single Family Homes for sale in Palm Beach county.

2961 priced under $250,000
3023 priced between 250,001 and $500,000
979 priced between $500,001 and $750,000
603 priced between $750,001 and $1,000,000
440  priced between $1,000,001 and $1,500,000
316 priced between $1,500,001 and $2,000,000
609 priced over $2,000,000

 For the month of April, 636 Single Family Homes SOLD in Palm Beach county.

 386 were sold under $250,000
187 are sold between 250,001 and $500,000
41 were sold between $500,001 and $750,000
13 were sold between $750,001 and $1,000,000 
1 were sold between $1,000,001 and $1,500,000
8 were sold between $1,500,001 and $2,000,000
None were sold over $2,000,000

There are currently 10,908 Multi-Family Homes LISTED FOR SALE in Palm Beach County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels. 

7918 are priced under $250,000
1603 are priced between 250,001 and $500,000
455 are priced between $500,001 and $750,000 
370 are priced between $750,001 and $1,000,000
237 are priced between $1,000,001 and $1,500,000
154 are priced between $1,500,001 and $2,000,000
171 are priced over $2,000,000

For the month of April, 684 Multi-Family Homes SOLD in Palm Beach county.

632 were sold under $250,000
37 are sold between 250,001 and $500,000
10 were sold between $500,001 and $750,000
3 were sold between $750,001 and $1,000,000
2 were sold between $1,000,001 and $1,500,000
None were sold between $1,500,001 and $2,000,000
None were sold over $2,000,000

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale and the Realtor Association of the Palm Beaches.

Compiling this data is enough to make you nuts.  Each time I make a request, I get a different answer. That is why we deem it to be reliable.  I try to get the same answer twice and run with it.

Overall there are less listings and more sales in both counties.  We have 10 closings scheduled for May!!!!

i read today that we are no longer in the downward slide, but it's a "roll" now.  Either way it's an improvement over the past year.

I was driving back from showing property on the beach to the West where I live on the edge of the Everglades .  It is only 12.5 half miles but takes about 30 minutes.  I was surprised over the good time I made in spite of the rush hour traffic time.

It was probably the day dreaming that I was doing, thinking how lucky I was to live in such a beautiful part of the world.  (My Dad was a pilot and we travelled around the world multiple times as well as lived overseas for a while, so I've had enough exposure to have an opinion.)

Thinking...what if I didn't live here and knew what I know about the area, where would I want to go if I came for a visit?

The first place that comes to mind for most people coming to Florida is the beach.  My favorite beach in Broward county is Deerfield Beach.  Why, because I don't like the sand (it makes a mess out of your car ;-)  Deerfield Beach has beautiful grassy areas just above the sand with palm trees and a public restroom at the fire station, PLUS Great places to eat and drink!

My second choice would be Fort Lauderdale beach down by the Yankee Clipper hotel or up by Beach Place that also has some great restaurants.

Next choice would be Pompano Beach.  This was the kids favorite place when they were little because it had a playground.

For Palm Beach, I have even more choices, where Jeff has us join him and his family to enjoy his wave runner on lakes and the ocean.

Stay tuned for more favorite places to visit!

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY
March 1, 2009 to March 31, 2009

Broward County includes well known cities of Coconut Creek, Coral Springs, Deerfield Beach,
Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, Parkland, Plantation,
Sunrise, Tamarac and Weston.

There are currently ­­­­­12,657 Single Family Homes LISTED FOR SALE in Broward County.

­­­5577 priced under $250,000
 4176 priced between 250,001 and $500,000
1132 priced between $500,001 and $750,000
599 priced between $750,001 and $1,000,000
493 priced between $1,000,001 and $1,500,000
260 priced between $1,500,001 and $2,000,000
417 priced over $2,000,000

For the month of March, 791 Single Family Homes SOLD in Broward County. 

464 were sold under $250,000
252 were sold between 250,001 and $500,000
40 were sold between $500,001 and $750,000
13 were sold between $750,001 and $1,000,000
9 were sold between $1,000,001 and $1,500,000
8 were sold between $1,500,001 and $2,000,000
4 were sold over $2,000,000

There are currently 18,455 Multi-Family Homes LISTED FOR SALE in Broward County.  Multi-Family
Homes include condos, town homes, villas, coops, all attached and or unattached as well as
single story to multi levels.

13,808 are priced under $250,000
2914 are priced between 250,001 and $500,000
773 are priced between $500,001 and $750,000
432 are priced between $750,001 and $1,000,000
279 are priced between $1,000,001 and $1,500,000
146 are priced between $1,500,001 and $2,000,000
102 are priced over $2,000,000

For the month of March,  881 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced multi family homes are located in Adult only communities
with an over the age of 55 requirment to live there.

788 were sold under $250,000
67 were sold between 250,001 and $500,000
16 were sold between $500,001 and $750,000
6 were sold between $750,001 and $1,000,000
4 were sold between $1,000,001 and $1,500,00
None were sold between $1,500,001 and $2,000,000
None were sold over $2,000,000

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth,  Wellington and West Palm Beach.

There are currently 9446 single family homes listed For Sale in Palm Beach County.

­3212 priced under $250,000
3211 priced between 250,001 and $500,000
1014 priced between $500,001 and $750,000
622 priced between $750,001 and $1,000,000
437 priced between $1,000,001 and $1,500,000
318 priced between $1,500,001 and $2,000,000
632 priced over $2,000,000

For the month of March, 464 Single Family Homes SOLD in Palm Beach County. 

270 were sold under $250,000
139 were sold between 250,001 and $500,000
19 were sold between $500,001 and $750,000
12 were sold between $750,001 and $1,000,000
10 were sold between $1,000,001 and $1,500,000
4 were sold between $1,500,001 and $2,000,000
10 were sold over $2,000,000

There are currently 554 Multi-Family Homes LISTED FOR SALE in Palm Beach County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

2795 are priced under $250,000
1689 are priced between 250,001 and $500,000
474 are priced between $500,001 and $750,000
251 are priced between $750,001 and $1,000,000
171 are priced between $1,000,001 and $1,500,000
62 are priced between $1,500,001 and $2,000,000
102 are priced over $2,000,000

For the month of March, 531 Multi-Family Homes SOLD in Palm Beach county.

52 were sold under $250,000
35 are sold between 250,001 and $500,000
10 were sold between $500,001 and $750,000
3 were sold between $750,001 and $1,000,000
None were sold between $1,000,001 and $1,500,000
2 were sold between $1,500,001 and $2,000,000
1 was sold over $2,000,000

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale
and the Realtor Association of the Palm Beaches.

 Significantly less listings for Broward and Palm Beach County and an Increase in sales, for both multi family and single family homes.  On a personal note our sales increased for the month of March by more than double.

      For a short sale property it means the bank has to agree to let the homeowner off the hook for the mortgage amount owed that is less than the purchase price offered.

Example: 
Mortgage Amount $250,000
Current Home Value $150,000
Bank Needs to Forgive the $100,000 Difference, PLUS cover the added closing costs.

It gets sticky on the added costs part, because sometimes they STICK IT to the Buyer.  Liens such as water, electric and other city or subdivision issues. 

There are no hard rules for short sales.  Each bank is different, as is each transaction. 

Additionally the timing can be from a couple of weeks if it is an "Approved Short Sale with an Approved Price", to four to five months for one that is just getting started in the lenders approval process.  Everything depends on how far along the homeowner and the lender are in the process.

The "PROCESS" includes a hardship letter that is submitted to the lender, explaining why the homeowner cannot keep up with their obligations to the lender.

Tax Returns, Income verifications, Appraisals etc.  What takes so long or can take so long is the fact that many of these loans are wrapped up with multiple investors that the banks had sold the loan packages to.  Each of them has to be contacted and agree to the reduction in their profit.  Depending on how many are involved, this can take months and the listed price is not always approved by the sellers banks, until they have there own current appraisal completed. This can result in the sellers bank asking for a higher purchase price then what was offered by the buyers.     

If the process is not being handled by the sellers attorney, title company, or an agent who has short sale experience, we recommend steering clear of these transactions.  It is rare that a homeowner can get this process completed on their own. 

This is the short version of the process.  Some you should run from and some are worth the risk.  It is a case by case basis.

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY
February 1, 2009 to February 29, 2009

Broward County includes well known cities of Coconut Creek, Coral Springs,
Deerfield Beach, Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, 
Parkland, Plantation, Sunrise, Tamarac and Weston.

There are currently­­ 13,193 Single Family Homes LISTED FOR SALE in Broward County.

­­­5958 priced under $250,000
 4481 priced between 250,001 and $500,000
1188 priced between $500,001 and $750,000
613 priced between $750,001 and $1,000,000
524 priced between $1,000,001 and $1,500,000
264 priced between $1,500,001 and $2,000,000
429 priced over $2,000,000

For the month of February, 565 Single Family Homes SOLDin Broward County. 

364 were sold under $250,000
142 were sold between 250,001 and $500,000
31 were sold between $500,001 and $750,000
8 were sold between $750,001 and $1,000,000
12 were sold between $1,000,001 and $1,500,000
4 were sold between $1,500,001 and $2,000,000
4 were sold over $2,000,000

There are currently 19,024 Multi-Family Homes LISTED FOR SALE in Broward County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

4977 are priced under $250,000
3070 are priced between 250,001 and $500,000
808 are priced between $500,001 and $750,000
444 are priced between $750,001 and $1,000,000
270 are priced between $1,000,001 and $1,500,000
152 are priced between $1,500,001 and $2,000,000
106 are priced over $2,000,000

For the month of February, 634 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced multi family homes are located in Adult only communities with a over the age of 55 requirement to live there.

568 were sold under $250,000
52 were sold between 250,001 and $500,000
6 were sold between $500,001 and $750,000
4 were sold between $750,001 and $1,000,000
2 were sold between $1,000,001 and $1,500,00
1 was sold between $1,500,001 and $2,000,000
1 was sold over $2,000,000

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth,  Wellington and West Palm Beach.

There are currently 10,579 single family homes listed For Sale in Palm Beach County.

­­3842 priced under $250,000
3593 priced between 250,001 and $500,000
1067 priced between $500,001 and $750,000
661 priced between $750,001 and $1,000,000
457 priced between $1,000,001 and $1,500,000
326 priced between $1,500,001 and $2,000,000
633 priced over $2,000,000

For the month of February 314, Single Family Homes SOLD in Palm Beach County. 

180 were sold under $250,000
97 were sold between 250,001 and $500,000
18 were sold between $500,001 and $750,000
7 were sold between $750,001 and $1,000,000
6 were sold between $1,000,001 and $1,500,000
None were sold between $1,500,001 and $2,000,000
6 were sold over $2,000,000

There are currently11,774 Multi-Family Homes LISTED FOR SALE in Palm Beach County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multiple levels.

8927 are priced under $250,000
1769 are priced between 250,001 and $500,000
488 are priced between $500,001 and $750,000
250 are priced between $750,001 and $1,000,000
172 are priced between $1,000,001 and $1,500,000
69 are priced between $1,500,001 and $2,000,000
99 are priced over $2,000,000

For the month of 451, February Multi-Family Homes SOLD in Palm Beach county.

316 were sold under $250,000
23 are sold between 250,001 and $500,000
6 were sold between $500,001 and $750,000
5 were sold between $750,001 and $1,000,000
2 were sold between $1,000,001 and $1,500,000
1 were sold between $1,500,001 and $2,000,000
1 are sold over $2,000,000

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale
and the Realtor Association of the Palm Beaches.

Broward shows a large decline in listed single family and a small decline in multi family homes.  For closed sales more units have sold than the previous month and with listings down overall this is a positive sign.

In Palm Beach a small increase in listings for single family and multi family homes.   In closed sales for Palm Beach the single family homes were a small increase and nearly double in sales for multi family.

The past three weeks we felt as if a Buyer tree sprouted in the Backyard and everyday we wake up and There are new Buyers taking advantage of the plethora of inventory while the "pickens" are good.  Once everyone knows about it the choices won't be as good.  

The best news is...that the bottom of the market is......when people start buying.  These last two months are very positive indications of this trend.

        I live in South Florida but I am promoting a FABULOUS restaurant in Jacksonville (North Florida)!  Food and service like this must not go unknown!!

The Millhouse at 1341 Airport Rd in Jacksonville, Florida

This is the link to their menu  http://www.millhousesteakhouse.net/menu.html

I flew into Jacksonville headed to Savannah, Georgia for the weekend with my Honey.  Hungry before getting on the highway and not wanting the typical chain restaurant, we pulled into Millhouse (More Than A Steakhouse).

Will, was assigned as our waiter, He was informative and full of suggestions.  I fancied a Pasta Dish (I know, "When in Rome, do as the Romans do"), but Joel was having the HUGE 18oz, Prime Grade Cowboy Rib-eye Steak and I wanted Pasta, ESPECIALLY after they took down all my specifications and spiced it up to my Fra Diavlo liking. The Linguine Pescatore was delicious.  I wanted to save some so I could take it with me to have again the next day!  That wasn't happening...I devoured it!

The entire meal was a FLAVOR EXPLOSION!  We were ecstatic, it was so good!!!! Every bite was IMMENSLEY enjoyable!  The menu is amazingly diverse with Steaks (their namesake), Pasta, Fresh Seafood, Deep South, Salads, Burgers and Sandwiches and even Oriental dishes.

We must have been making a lot of noise with our OHHHHH's and AHHHHH's because the owner Gary Fassi came over to check on us.  He could tell we were happy diners!

WHEN You are in Jacksonville and near the airport and on any kind of layover or passing through, get yourself to the Millhouse!!  I can assure you it will be one of best choices you'll make along your way.