ILoveSoFla.com » Selling

Luxury Homes Sales – EWM is #1

jenniferwollmann — Fri, 02 Jul 2010 19:44:52 +0000

Selling Your Home? Look at All of These Real Estate Websites

jenniferwollmann — Thu, 20 May 2010 13:33:30 +0000

Your Home On All of These Websites

List with me and your home will show up on the major real estate websites! Maximizing exposure on the web increases the chances of selling your home.

Deering Bay, Coral Gables, FL – Progressive Brokers Open

jenniferwollmann — Mon, 10 May 2010 21:22:29 +0000

Are Real Estate Sales Really Up in Miami?

jenniferwollmann — Wed, 31 Mar 2010 17:13:00 +0000

If you read the papers, listens to the news, or talk to friends, neighbors and acquaintences about the real estate market, you could be very confused as to what is “real” about it.

Foreclosures and short sales are still high.

Unemployment is still high and actually rose more vs. high and dropping.

Inventory is still high.

Yet, week after week, our EWM office in Coral Gables is selling more than we are listing. This week alone, we had over $28,000,000 (yes, that is million and it was closer to $29) in sales and leases, the majority in sales. We had 29 sales vs 8 sale listings. What is even more amazing about the sales in our office this week:

11 of them (38%) were over $500,000 vs 9 that were under$300,000, which is where most of the market has been this year;
7 of them were over $1,000,000 so the high end market is starting to move.

What is especially important in these numbers is that the higher end sales are not relying on the first time home buyers tax credit, since they don’t qualify, and they are buying anyway. This leads me to believe that the real estate market is starting to stabilize, especially in certain areas.

Home Buyers Tax Credit Ends April 30

jenniferwollmann — Mon, 08 Mar 2010 10:42:50 +0000

If you are planning on using the Home Buyers Tax Credit to purchase your home, time is running out.

Miami Real Estate – Plenty of Housing Data Due Next Week

jenniferwollmann — Fri, 19 Feb 2010 13:20:22 +0000

The S&P Case-Shiller Home Price Index for December will be out on Tuesday followed by the Commerce Department’s new home sales report on Wednesday and existing home sales report on Friday. These three reports will help give Wall Street, and the rest of the country, an idea of how the overall housing market is doing.

Are Recent Improvements in Home Sales and Median Prices Here to Stay?

jenniferwollmann — Mon, 15 Feb 2010 19:33:24 +0000

Both on a national and local South Florida level, home sales have been improving and in some areas median prices have actually been increasing. Although we have been seeing a trend in increasing sales and decreasing inventories in Miami-Dade County, Moody’s Investor Services estimates there will be an additional 8% decrease in home prices in 2010 due to an increased number of foreclosures, short-sales, and deeds in lieu of foreclosure sales that will be coming on the market. Moody’s estimates are based on loans that are currently in some form of modification process but that will not be eligible for permanent modification.

The Difference between Cost vs. Price

jenniferwollmann — Sat, 06 Feb 2010 23:40:43 +0000

Sellers and buyers of real estate often fixate on what the price of a property is and in doing so, lose sight of the more important factor, cost. Price is what you get for the property if you are a seller and what you pay for it if you are a buyer. However, what affects both seller and buyer on a monthly basis is the cost. In addition to principal, interest, taxes and insurance costs, there are maintenance costs and maybe association fees.

If you are a seller, consider how much it is costing you to carry that property each month you don’t sell it. Based on the inventory of similar properties in your area vs the number of sales, you can calculate how much it is going to cost you to continue carrying that property for the average number of months it is taking to sell properties in your area. I suggest you cut your sales price and take the loss upfront vs slowly cash out each month.

If you are a buyer, realize that there has never been a better time to buy than right now. You have a large number of options, the interest rates are the lowest they have been in decades and there is the government tax credit that expires at the end of April 2010. If you are waiting for prices to go down lower, consider the cost of owning if the prices go down but the interest rates go up. If prices come down 10% more, but interest rates inch up only 1% your monthly payments are going to be roughly the same.

Small Homes Are Back In Demand

jenniferwollmann — Thu, 04 Feb 2010 13:49:57 +0000

The days of the McMansions have been put on hold for now. What is selling in Miami are the smaller homes on smaller lots in neighborhoods that are close to shopping and transportation. Most of the homes fitting this description are under $500,000 and many are under $300,000 and are therefore perfect for first-time homebuyers.

If you have a home that fits this description, now is a good time to sell since inventories in these price ranges are low and buyers are often bidding above asking. Many of these buyers want to be under contract prior to the end of April in order to qualify for the First Time Homebuyers Tax Credit.

Miami Real Estate – Homes Below $300,000 Get Lots of Activity

jenniferwollmann — Sat, 30 Jan 2010 23:20:37 +0000

The real estate market in Miami continues to be driven by properties priced under $300,000. I listed a home this week in this price range and had 8 offers within the first 5 days, all at or above asking. Many of the would be buyers expressed frustration at losing out to cash buyers or having banks stall the process if the property was a short sale or foreclosure. If you are thinking of selling your home and have a home in this price range, chances are if you price it right you will get multiple offers, even above asking!