Sales Under $250,000 Drive October's Existing-Home Sales Surge

48.5% of the increase in sales reported by NAR were under $250,000.  In the South, 51.6% of the sales were under $250,000.  The increase in sales was largely due to the expiration of the first-time homebuyers credit, which President Obama ended up extending and expanding.  Most experts expect the next couple of months sales to […]

Buying, Market Summary, Selling
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Commercial Property Sales In Miami Down 70% In 3rd Quarter

Third quarter commercial sales decreased 70% across the board from last year’s third quarter sales.  The price per square foot fell 12% for office 14% for multi-family 23% for industrial and 9% for retail.

Buying, Investment Real Estate, Market Summary, Selling
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Miami Foreclosures – Down For October But Probably Will Increase

Although the number of homes in foreclosure decreased in October from the same time last year, the overall number of foreclosures are still high and some experts think it will rise.  According to RealtyTrac, there were 7, 741 foreclosures in Miami Dade as of October.  Most of the first round of foreclosures were sub-prime and […]

Buying, Foreclosures, Selling
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South Florida Real Estate – Third Quarter Summary

According to the National Association of Realtors third quarter report, sales are up throughout most of the country.  The biggest increase in sales was in Florida at 36.8%.  This is no surprise considering that we are also the state with the highest number (9 out of the top 15) of metro area price decreases in […]

Buying, Investment Real Estate, Selling
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Good-Faith Estimates To Improve Dramatically

On January 1, 2010, new rules adopted by the Department of Housing and Urban Development go into effect.  These rules are going to give borrowers a much more realistic estimate of what their closing costs are going to be so there are fewer surprises at the closing table. Good-faith estimates will now be on a […]

Buying, Mortgage information
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First Time Homebuyers Tax Credit Extended and Improved

What does the bill that President Obama signed into law on Friday mean to you if you are a first time homebuyer?  It means that you did not miss out on the First Time Homebuyers Tax Credit and may be able to qualify for it now, even if you didn’t before.  Why?  Because the new […]

Buying, Selling
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Foreclosures: Are They A Good Deal?

With so many foreclosures on the market today, many buyers think they can get a good deal in a foreclosure.  Sometimes foreclosures are not the best deal.  This apartment was stripped bare, including the entire kitchen, all bathroom fixtures, the doors, baseboards, even the air conditioner was ripped out!  There was no way to do […]

Buying, Foreclosures
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Miami Real Estate – Single Family Homes Market Summary

Below is a quick snap shot of what the real estate market for single family homes looked like in October.  These numbers are derived from the Multiple Listing Service and though they do not include For Sale By Owners and anything not listed on the MLS, they are indicative of what is going on in […]

Buying, Foreclosures, Market Summary, Selling
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Miami Real Estate Market – Pending Sales, What Do They Really Mean?

The National Association of Realtors reported a 21.2 percent increase  in pending home sales for the month of September. This is the 8th consecutive monthly gain so, what does that mean in terms of the real estate market?  The answer, as always, is it depends on the location.  The NAR number is a national number […]

Buying, Market Summary, Selling
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Miami Beach Condo For Sale – No Tricks, Just Treats

The updated kitchen isn’t the only thing this 2 bedroom 2 bath condo has going for it.  It is two blocks to the beach, walking distance to shopping and restaurants, has ocean and city views, a ton of closet space, on public transportation route,  and internet, cable,  hot water and air conditioning are all included […]

Buying, Marinas, Yacht Clubs and other Boating Information
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