Fort Lauderdale Beach Real Estate

Jon C. Mumford, REALTOR-ASSOCIATE, CRS, ePRO, GRI, GREEN, RECS, SFR, SRES

Archive for January, 2008

Latest Sales Statistics

Posted by fortlauderdalebeachrealestate on January 17, 2008

New Listings

  • Single Family- 1,881(7% lower than ‘06, a year ago it was 37% higher)
  • Condo-Townhouse- 2,333(17% lower than ‘06, a year ago it was 33% higher)
  • Total all Property Types-6,693(8% lower than ‘06, a year ago it was 46% higher)

Total Available Inventory

  • Single Family-12,142(14% higher than ‘06, a year ago it was 95% higher)
  • Condo/Townhouse-16,438(12% higher than ‘06, a year ago it was 111% higher)
  • Total-38,308(12% higher than ‘06, a year ago it was 100% higher)

Single Family Sold

  • 391 closed sales, 35% down from ‘06, a year ago it was up 1%
  • Median sales price, $325,000, down 7% from last year

Condo/Townhome Sold

  • 472 closed sales, 21% down from ‘06, a year ago is was down 21%
  • Median sales price, $169,450, down 8% from ‘06

Jon

Posted in Blogroll, Buying Real Estate, Real Estate News, Sales Statistics, Selling Real Estate | Leave a Comment »

Top Design Trends

Posted by fortlauderdalebeachrealestate on January 12, 2008

For the third consecutive year, home offices are the most popular special-function room among homeowners, according to the American Institute of Architect’s Home Design Trends survey for the second quarter of 2007.  Nearly two-thirds (61 percent) of residential architects surveyed said homeowners are looking for home offices in their new homes compared with 51 percent a year ago.  The survey found that homeowners want more than a desk in the corner of the bedroom; they are looking for acoustic privacy, better natural lighting and, in some cases, a separate entry for clients.  Other special function roooms that are gaining popularity include a media room/home theater, a fitness room and a kid’s or guest wing.

Rising utility costs and greater enviromental awareness are also prompting an increasing number of homeowners to go green with their home designs, the survey concludes.  More homeowners are demanding sustainable designs and energy-efficient products, such as tankless water heaters, geothermal heating and cooling systems, structural insulation panels and flooring products made of bamboo and cork.

Jon

Posted in Blogroll, Just for Fun | Leave a Comment »

Vote “YES” on Amendment 1!

Posted by fortlauderdalebeachrealestate on January 4, 2008

This year together we pressured our lawmakers to act, resulting in the passage of a two-part landmark legislation creating the largest tax cut in Florida’s history. Step one required local governments to roll back taxes this year, and then to grow at a responsible rate in the future. The second step was the placing of Amendment 1on the January 29th ballot…putting the fate of this issue in the hands of Floridians.The passage of Amendment 1 on January 29th means…

  • The homestead exemption will double from $25,000 to $50,000 for most Floridians.
  • Homeowners will be able to transfer their Save Our Homes benefit – up to $500,000 – to a new homestead if they sold their home in 2007 or later.
  • Businesses will have a new $25,000 exemption for “tangible personal property”.
  • The annual growth of taxable value for non homestead properties, such as businesses, rental properties and second homes, is limited to 10 percent per year.

Although many of us were disappointed Amendment 1 did not provide enough relief, voting “Yes” will still be a significant step forward. Portability will free thousands from the “lock-in effect” they are experiencing, and the 10% cap would prevent more of the huge tax spikes that have placed many businesses and second homeowners in the red. If the measure fails, however, I am concerned that our lawmakers would then fail to act on any further relief. We cannot afford for this to happen.

Over the next month, RAGFL will be actively fighting for the passage of Amendment 1. Your help is critical to our industry’s future success!

  • Visit RAGFL East today to pick up your “Vote YES on 1” lawn sign and bumper sticker.
  • Spread the word to your family, friends, colleagues, clients and all others about the importance of voting for Amendment 1. Information is available at  www.yeson1florida.com.
  • Show up and vote on January 29th or vote early begining January 14th. Visit  www.browardsoe.org for polling times and locations.

Jon

Posted in Blogroll, Buying Real Estate, Real Estate News, Selling Real Estate | Leave a Comment »

8 Questions to ask any REALTOR before signing anything!

Posted by fortlauderdalebeachrealestate on January 2, 2008

Everywhere you look, there are advertisements for Real Estate, and for Real Estate Agents. We’re everywhere!

The reason is pretty simple: It’s not extremely difficult to get your real estate license, a college degree is not required, and the income potential is pretty high.

Unfortunately, this means that there are a lot of BAD Real Estate Agents out there. The BEST way to find a good professional – in any industry – is to ask for a referral from a trusted friend or colleague. This does not, however, mean that any person referred to you is a quality professional – everyone has a brother, sister, aunt, uncle, or cousin who is in the business, after all – but it will increase your odds. There are a few questions that you should ask ANY Real Agent before signing a buyer’s agency or listing agreement.

1. How long have you been in the business?

Pretty much any average person could decide they want to get their license today, and have that license in their mailbox a month later. Because of this, your Real Estate Agent’s experience is VERY important. A new Agent will learn a LOT their first year, and will continue to learn more with every transaction. Don’t automatically choose against a newer Agent – they typically bring a lot of energy to the transaction, and they will have LOTS of time for you. However, if you do decide to use a newer Agent, make sure they have a great support system behind them.

2. Are you a Realtor?

Not all Real Estate Agents are Realtors. Members of the National Association of Realtors have to adhere to a strict code of ethics, or otherwise face having their membership revoked. Also, you must be a member of the National Association of Realtors to have access to the MLS (Multiple Listing Service) which is what gives Realtors access to almost every home for sale in their market area.

3. What certifications do you hold?

There is an “alphabet soup” of advanced certifications that Real Estate Agents can earn. While it doesn’t automatically mean that they are a good Agent, it does mean they are serious about their job.

4. What is your specialty?

Real Estate Agents typically categorize themselves as either “commercial” or “residential” which are vastly different. Even among Residential Real Estate Agents, though, agents will specialize in Buyers, Sellers, or Renters. Some Residential Agents successfully handle Buyers & Sellers, but make sure they come with plenty of satisfied customers. Agents typically cut their teeth working with renters.

5. Can I have a list of past customers?

Take the time to call a few of an Agent’s past customers. Ask for their strengths and weaknesses (and make sure they don’t share the Agent’s last name.)

6. Who is your Broker? Can I call him/her?

Real Estate Agencies are moving towards the “mega-brokerage” mentality which means that many Agents today have never met their Broker. If an agent doesn’t have their Broker’s cell phone number, find out who they will call if they run into questions.

7. How many sales did you complete last year?

A good agent will complete at least 25 sales per calendar year. You want to make sure that the agent helping you through the largest purchase or sale of your life is a GOOD agent.

8. Is this your full-time job?

It always surprises me how many people are willing to let their office mate down the hall handle the purchase or sale of their home. You need someone who handles real estate transactions full-time, day in and day out, to make sure that your best interests are taken care of.

There are plenty of fantastic Real Estate Agents working today. Unfortunately, the incompetent Agents really stand out. (Did you hear about the Agent who contracted the wrong house?) Make sure that you find your Agent through a trusted source, and ask any Agent these important questions.

Posted in Buying Real Estate, Selling Real Estate | Leave a Comment »