Fort Lauderdale Beach Real Estate

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

Archive for May, 2008

Happy Memorial Day Weekend

Posted by fortlauderdalebeachrealestate on May 23, 2008

I wanted to wish everyone a safe and happy holiday weekend, and also to leave you with a bit of good news from CNNMoney.com.

Current homes prices are right now the biggest bargain since 2004.  Because of this, 53.8% of all new and existinng homes sold nationwide during the first three months of 2008 were affordabe to families earning the median household income of $61,500(this is up 44% during the first during the first three months of 2007.

Share the good news, and have a great weekend everyone!

Jon

Posted in Buying Real Estate, Just for Fun, Real Estate News, Selling Real Estate | Leave a Comment »

Green Incentives

Posted by fortlauderdalebeachrealestate on May 13, 2008

There is a lot of talk in our business about the benefits of going “green”-remodeling homes to improve energy efficiency, buying enviromentally friendly newly constructed homes, etc.  I found a website where you can go to see a complete of these opportunities-share it with your friends and family.  www.dsireusa.org

Jon

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April Sales Statistics

Posted by fortlauderdalebeachrealestate on May 12, 2008

New Listings

  • Single Family-2,370(13% lower than 07′, a year ago it was 6% lower)
  • Condo/Townhome-2,617(25% lower than 07′, a year ago it was 1% lower)
  • Total all property types-7,764(15% lower than 07′, a year ago 5% higher)

Total Available Inventory

  • Single Family-12,524(4% higher than 07′, a year ago it was 36% higher)
  • Condo/Townhouse-16,104(5% lower than 07′, a year ago it was 47% higher)
  • Total all Property Types-37,707(1% lower than 07′, a year ago it was 45% higher)

Single Family Sold

  • 548 closed sales, 8% down from 07′, a year ago it was down 21%
  • Median sales price, $300,000, down 11% from last year

Condo/Townhome Sold

  • 638 closed sales, 6% down from 07′, a year ago it was down 27%
  • Median sales price, $140,000, 28% down from 07′, a year ago it was down 7%

Given our current inventory and sales levels, if there were to be nothing else listed, we have a 23 month supply of single family homes on the market(down 21% from the previous month) and a 25 month supply of condos on the market(down 14% from the previous month)

 Want to know what this means to you?  Give me call, 954 562 4991

Jon

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The case against waiting to buy

Posted by fortlauderdalebeachrealestate on May 7, 2008

This article was in TIME magazine and I wanted to share it as I think it is relevant and helpful to the many buyers out there in the market that are on the fence about making a purchase.

Financing costs will rise as the economy recovers, so trying to time real estate might not pay off

Today-

  • $218,900.  Put down 20% and get a 30 year fixed mortgage.  5.5%, current rates after recent declines.  Monthly payment $994.31.

Cost in 12 months-

  • $197,010.  If prices drop an additional 10%.  6%, recession ends, and the Fed starts to raise rates.  Monthly Payment $994.94.

Conclusion:  If you waited a year to buy, you would have saved nothing and spent a year living someplace you’d rather not be.

Jon

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