As the economy continues to trudge along, many South Florida homeowners are still struggling with unemployment and mortgage payments.  If you are thinking of short selling your home, you should be aware that several banks have incentives for you to short sell versus going through the lengthy, in Florida it can take close to two years, and extremely credit-damaging foreclosure […]

How does the housing market look in Pinecrest half way through 2011?  Below are the numbers for single family homes.  Note that all of these are going to change a little due to status changes that happen at the end of the month, but are not updated in the MLS until the following month.  As […]

We are half way through the year and the market has been moving.  Sales are up, mostly due to lower prices.    As of June 30, the single family home market in Miami Beach for the year so far is as follows: Closed sales:  94. Low of $190,000 to a high of $25,500,000.  9 of the closed […]

If you are in the market to purchase a home now really is a great time to buy.  In addition to low interest rates and high inventories, current offers by Fannie Mae and Freddie Mac help increase your buying power.  Note:  these offers are for owner-occupied homes only, not for investment properties. Fannie Mae: 3.5% […]

If you are trying to purchase your first home or investment property and take advantage of the low interest rates and prices, congratulations! A couple of things you may want to do to avoid frustration: 1)If you are financing, prequalify for a mortgage. It will make your offer that much stronger. 2)Do your homework-find out […]

If you are trying to purchase your first home or investment property and take advantage of the low interest rates and prices, congratulations! A couple of things you may want to do to avoid frustration: 1)If you are financing, prequalify for a mortgage. It will make your offer that much stronger. 2)Do your homework-find out […]

Market information from the Multiple Listing Service for single family homes for the month of January are as follows: Closed sales: 16.  2 short sales 2 REOs.  7 were cash sales, including the one for $3.86 million. Price range of closed sales: $3.86 million – $375,000 Pending sales: 20. 3 short sales, 4 REOs Price […]

Market information from the Multiple Listing Service for single family homes for the month of January are as follows: Closed sales:  8.  None were short sales, 7 were REOs. 5 were cash sales. Price range of closed sales: $565,000 – $48,000 Pending sales: 12.  2 short sales, 1 REO Price range of pending sales: $2.39 […]

There was so much good news about economic activity in the Miami Today, today that I had to share some of the ones that popped out at me.  In addition to the one about all of the economic growth numbers from November (see tomorrow’s post), the following things jumped out at me as a good […]

According to Condovultures.com, only 16% of the 22,231 condo units built in Greater Downtown Miami during the latest boom are still available for sale.  If you continue to wait for prices to drop further, you will probably find you missed the boat.  That doesn’t mean prices are going to appreciated rapidly, or at all, in […]