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.