Fort Lauderdale Beach Real Estate

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

Archive for July, 2009

U.S. home prices see first rise in three years

Posted by fortlauderdalebeachrealestate on July 28, 2009

Lauderdale Beach

NEW YORK (Reuters) – U.S. single-family home prices rose in May from April, the first monthly increase in nearly three years, suggesting prices may be stabilizing, according to Standard & Poor’s/Case Shiller home price indexes on Tuesday.

The annual rate of decline for the 10- and 20-city indexes improved for the fourth straight month, though prices have still tumbled by more than 32 percent from the peaks in the second quarter of 2006.

The index of 20 metropolitan areas rose 0.5 percent in May from April, after a 0.6 percent decline the month before, in contrast with the 0.5 percent drop forecast by economists in a Reuters poll.
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Existing home sales up again, say NAR

Posted by fortlauderdalebeachrealestate on July 25, 2009

Lauderdale Sunset

WASHINGTON – July 23, 2009 – Existing-home sales rose for the third consecutive month with inventory easing and home prices declining less sharply in June, according to the National Association of Realtors® (NAR).

Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 3.6 percent to a seasonally adjusted annual rate of 4.89 million units in June from a downwardly revised pace of 4.72 million in May, but are 0.2 percent lower than the 4.90 million-unit level in June 2008.
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Bidding Wars Break Out

Posted by fortlauderdalebeachrealestate on July 19, 2009

Downtown Ft Lauderdale

Great article in the Sun Sentinel discussing how bidding wars have returned to the market in South Florida on properties under $200,000. Click here to read the full article.

Jon

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Still more great news, June sales statistics…

Posted by fortlauderdalebeachrealestate on July 8, 2009

Fort Lauderdale

Wow, these numbers were just released yesterday. They have been improving every single month and are solid proof that our market in South Florida is recovering. Lots of great deals to be had and money to be made by investing in real estate.

New Listings

Single Family-1,632, 29% lower than 08′
Condo/Townhome-1,955, 23% lower than 08′
Total all property types-5,899, 24% lower than 08′

Total Available Inventory

Single Family-7,425, 40% lower than 08′
Condo/Townhouse-11,332, 27% lower than 08′
Total all Property Types-27,538 26% lower than 08′

Single Family Sold

750 closed sales, up 21% from 08′
Median sales price, $210,000, down 29% from last year

Condo/Townhome Sold

793 closed sales, 22% higher from 08′
Median sales price, $80,000, 45% down from 08′

Pending Inventory or homes under contract

Single family homes are up 88% over 2008
Condos are up 96% over 2008

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 51% from the previous year) and a 14 month supply of condos on the market(down 41% from the previous year)

Jon

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Florida’s quality of life means ‘home sweet home’

Posted by fortlauderdalebeachrealestate on July 4, 2009

Ft Lauderdale Beach

ORLANDO, Fla., July 1, 2009 – What does Florida have to offer? Pick up a travel brochure and some benefits are clear: Beautiful beaches. Miles of scenic parks and nature preserves. Oceans, rivers and lakes offering boating, fishing, swimming and other water recreation. A rich and varied history, which includes the city of St. Augustine, the oldest permanent European settlement in the mainland United States. Unique entertainment parks and other family-friendly attractions. Cultural activities that offer residents and visitors fine theater, music, dance and arts events. Then there is Florida’s climate featuring an average annual high of 81 degrees Fahrenheit and an average annual low of 60 degrees, giving the Sunshine State its well-known nickname and reputation.
“Florida is a great place to live and I feel privileged to call it home,” said 2009 Florida Association of Realtors® (FAR) President Cynthia Shelton. “There is so much to see, to experience and to enjoy in Florida, from the distinctive white sugar sand beaches of Destin in the north, to the family fun offered by Orlando’s theme parks and attractions, to the leisurely, laid-back lifestyle in the Keys. Whatever you like to do, you’ll find it here in Florida. We have visitors coming here from around the world to vacation in Florida. But they only get to sample what Florida offers for a brief time; when you’re lucky enough to be a Florida homeowner, there’s no end to the possibilities!”

State officials, Florida Realtors® and business recruiters agree: Florida’s unique quality of life is one of the state’s best assets. Enterprise Florida, a public-private partnership devoted to statewide economic development, notes on its Web site (http://www.eflorida.com) many of the amenities found in the Sunshine State.

• Florida beaches were awarded more top 10 spots than any other state, including the No. 1 beach in the U.S., Caladesi Island State Park, on America’s Best Beaches list for 2008. This internationally recognized ranking by Dr. Stephen P. Leatherman (aka Dr. Beach) is based on 50 criteria including number of sunny days, sand softness, algae and pollution content, safety record, and more. Leatherman is a Ph.D. coastal scientist, professor of environmental studies and director of the Laboratory for Coastal Research at Florida International University in Miami.

• The state’s park system, one of the largest in the U.S., has 160 parks covering more than 700,000 acres and 100 miles of Florida’s beaches.

• Seven of Relocate-America’s Top 100 Places to Live in 2008 were Florida cities, including one, Flagler Beach, which was named to the Top 10. These rankings attest to Florida’s high quality of life, and are based on a combination of economic data and feedback from people who live in each area.

• In many ways, Florida’s cost of living is below that of other states with similar economic growth and in-migration rates. For example, the state’s homeownership rate currently stands at about 70 percent, well above the national average. And, with data from the Florida Association of Realtors showing that $187,800 was the statewide median price for an existing home at year-end 2008, housing prices compare well to other similar states.

• Noted for its outstanding statewide system of trails, Florida was named the Best Trails State in America, winning the biennial National Trails Award in this past November from the national nonprofit organization American Trails.

• Five Florida universities were named to the Best Values in Public Colleges list for 2009 by Kiplinger’s Personal Finance. The schools are University of Florida, ranking No. 2 in the nation; New College of Florida, No. 8; Florida State University, No. 17; University of Central Florida, No. 42; and the University of South Florida, No. 75. Among other criteria, these rankings recognize schools with top academics and affordable costs.

© 2009 FLORIDA ASSOCIATION OF REALTORS

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