I wanted to let everyone know that after 11 years in Fort Lauderdale, I have returned home to Baltimore, Maryland. 

Yes I have left that

 for this!

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I am still a licensed REALTOR in Florida and am available to all of my wonderful past clients.  I am also still able to handle referrals in South Florida via a business partner there.  Hope 2011 finds everyone well!  All the best…

Jon

4th of July happenings-Fort Lauderdale

I if you are wondering what is happening in town for the 4th, click here for the full schedule of activities.

Jon

The market in South Florida has continued to gain momentum and offers incredible opportunities to those folks looking to purchase real esate.    I just received the numbers for Broward County for May-GREAT NEWS!  Reduced inventory continues and increase in condo sales and slight dip in single family homes and in increase in median sales prices.

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New Listings

Single Family-1,784, 7% higher than 09′
Condo/Townhome-2,062, 1% higher than 09′
Total all property types-6,076, 3% lower than 09′

Total Available Inventory

Single Family-5,704, 27% lower than 09′
Condo/Townhouse-8,323, 29% lower than 09′

Single Family Sold

746 closed sales, down 4% from 09′
Median sales price, $220,000, up 22% from 09′

Condo/Townhome Sold

967 closed sales, 12% higher from 09′
Median sales price, $80,000, same as 09′

Pending Inventory or homes under contract

Single family homes are down 6% over 2009
Condos are up 11% over 2009

Given our current inventory and sales levels, if there were to be nothing else listed, we have a 8 month supply of single family homes on the market(down 20% from the previous year) and a 9 month supply of condos on the market(down 36% from the previous year).

Jon

Positive News in April’s numbers…

The market in South Florida has continued to gain momentum and offers incredible opportunities to those folks looking to purchase real esate.    I just received the numbers for Broward County for April-FABULOUS!

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New Listings

Single Family-1,663, 6% higher than 09′
Condo/Townhome-2,000, 6% higher than 09′
Total all property types-5,764, 1% higher than 09′

Total Available Inventory

Single Family-5,763, 31% lower than 09′
Condo/Townhouse-8,478, 31% lower than 09′

Single Family Sold

646 closed sales, up 1% from 09′
Median sales price, $200,000, down 5% from 09′

Condo/Townhome Sold

1,030 closed sales, 36% higher from 09′
Median sales price, $73,000, 6% down from 09′

Pending Inventory or homes under contract

Single family homes are up 2% over 2009
Condos are up 37% over 2009

Given our current inventory and sales levels, if there were to be nothing else listed, we have a 9 month supply of single family homes on the market(down 31% from the previous year) and a 8 month supply of condos on the market(down 50% from the previous year).

Jon

March 2010 Sales Statistics & “Your Home”

In this month’s edition of  “Your Home” I have financial tips, kitchen & bath design trends and pet friendly remodeling ideas.  Our market in South Florida has continued to gain momentum and offers incredible opportunities to those folks looking to purchase real esate.    I just received the numbers for Broward County for March-FABULOUS!

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New Listings

Single Family-1,495, 4% higher than 09′
Condo/Townhome-1,994, 10% higher than 09′
Total all property types-5,364, 4% higher than 09′

Total Available Inventory

Single Family-5,857, 36% lower than 09′
Condo/Townhouse-8,831, 32% lower than 09′

Single Family Sold

567 closed sales, up 10% from 09′
Median sales price, $205,000, down 7% from 09′

Condo/Townhome Sold

926 closed sales, 59% higher from 09′
Median sales price, $75,000, 14% down from 09′

Pending Inventory or homes under contract

Single family homes are up 25% over 2009
Condos are up 63% over 2009

Given our current inventory and sales levels, if there were to be nothing else listed, we have a 10 month supply of single family homes on the market(down 36% from the previous year) and a 10 month supply of condos on the market(down 58% from the previous year).

Jon

NAR’s sustainable property designation

I’ve just received my Green designation from NAR, the National Association of REALTORS.  This is a newer designation and advocates the goal of education and adoption of green real estate principles.  As buyers and sellers continue to address issues of energy efficiency and smart building practices, the market will continue to evolve and green properties will become increasingly prevalent.  I can now provide knowledge in this evolving market.

This is my 7th professional designation/certification and shows the dedication I have to my career and continuing education.

• CRS-Council of Residential Specialists, most prestigious designation held by only 4% of REALTORS
• ePRO-Technological designation
• GRI-Graduate Realtor Institute
• RECS-Real estate cyber society
• SFR-Short sale foreclosure resource
• SRES-Seniors real estate specialist

Population Matters

The nation’s population grew to 307 million residents between July 2008 and July 2009, a modest increase of .86 percent, according to a recent estimate by the U.S. Census Bureau.

Texas experienced the largest population growth during that time, gaining 478,000 new residents, while California remained the most populous state with 37 million residents.(Source U.S. Census Bureau)

Largest Gains in Population

• Texax 478,000
• California 381,000
• North Carolina 134,000
• Georgia 131,000
• Florida 114,000

Most Populous States

• California 37 million
• Texas 24.8 million
• New York 19.5 million
• Florida 18.5 million
• Illinois 12.9 million

Jon

Loan modification terms can be tough for those few who get them

This is an excellent article from yesterdays Sun Sentinel.  Please feel free to pass it along and share with anyone that might benefit from this.

For William and Lida Negron, their lender’s decision to modify their mortgage seemed to be the key to holding on to their home.  William Negron, in his mid-70s, lost his job in car sales two years ago. The possibility of losing their home put “so much stress on him,” said son Carlos Negron. “My mother has been to the hospital twice because of this.”  Click here for the full article.

Jon

Interesting statistics on our market in South Florida…

In past 6 months 52% of the closed residential sales reported through MLS were REO’s or short sales.

Currently about 38% of active inventory is in one of those categories with the number of short sales rising dramatically. 

At the beginning of last year we had 28,500 listings active on the market in our MLS systems and that represented 22.4 months of inventory

At the beginning of 2010 that number shrunk to 17,856 which is a 37% decrease.  Months of inventory has correspondingly been reduced to 11.7 months, about half of where it was last year.

Single Family Homes priced between $1 – 2.5 million have 35.9 months of inventory as of January 2010

Single Family Homes priced between $2.5 – 5 million have 130.7 months of inventory as of January 2010

Avgerage sales price in January of 2009 was $186,000

Average sales price this January is $162,000 (13% less)

Jon

 

“Your Home” & February 2010 Sales Statistics

 

Wow, it is March already-how did that happen?  In this month’s edition of  “Your Home” I have a paint color trends, tax tips, and the latest apps available for your iPhone.  Our market in South Florida has continued to gain momentum and offers incredible opportunities to those folks looking to purchase real esate.    I just received the numbers for Broward County for February-FABULOUS!

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New Listings

Single Family-1,693, 1% lower than 09′
Condo/Townhome-2,235, 5% higher than 09′
Total all property types-5,978, 1% lower than 09′

Total Available Inventory

Single Family-5,992, 38% lower than 09′
Condo/Townhouse-8,973, 32% lower than 09′

Single Family Sold

536 closed sales, up 35% from 09′
Median sales price, $185,551, down 13% from 09′

Condo/Townhome Sold

797 closed sales, 64% higher from 09′
Median sales price, $71,000, 16% down from 09′

Pending Inventory or homes under contract

Single family homes are up 31% over 2009
Condos are up 60% over 2009

Given our current inventory and sales levels, if there were to be nothing else listed, we have a 11 month supply of single family homes on the market(down 54% from the previous year) and a 11 month supply of condos on the market(down 32% from the previous year).

Jon