According to Mark Vitner, an economist for Wells Fargo, Miami is his top choice of a market poised for economic growth.  How can that be?  We have one of the highest unemployment, foreclosure and number of underwater homes in the country.  However, Vitner stated that Miami is currently posting some of the highest taxable sales […]

According to AccuWeather.com, it was 29 degrees in New York and Boston yesterday, and 74 degrees on Miami Beach.   This is the view from every room in this beautiful one bedroom apartment, smack dab on the beach.  Instead of shoveling snow, you could be frolicking in the surf, playing volleyball or taking a leisurely stroll […]

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 […]

According to Trulia’s Q1 Rent vs Buy Index, Miami is #1 on the Top Ten Cities To Buy vs Rent table.  The reason I titled my post “ It May Be Cheaper To Buy Than To Rent”  instead of “It Is Cheaper To Buy Than To Rent” is because Trulia arrived at their conclusion by […]

Shadow inventory is basically the number of properties that are projected to hit the market due to distressed owners, those who are behind 90 days or more on their mortgage,  or because they will be or already have been taken back by the bank.  There has been a lot of speculation lately about how this […]

While the local real estate news has been giving us a snapshot of what has been happening in Miami’s real estate housing market, several housing reports are due out next week, which will give us a national picture of how the housing recovery is fairing. Tuesday –  S&P Case Shiller home price index:  this index […]

How can it be both the right time to sell and the right time to buy?  Usually, if it is a seller’s market, prices are high and inventory is low.  If it is a buyer’s market, it is the other way around.  We currently have enough overall inventory of single family and condos in South […]

Effective January 15th 2011, it will be easier to qualify for an FHA loan with Homes Services Lending.  The new FHA minimum credit scores will be reduced from 600 to lower thresholds as follows: Credit score 500 – 579 allowed with maximum 90% LTV Credit score 580 – 599 allowed with maximum 95% LTV Credit […]

The inventory for single family homes in Miami-Dade County has inched up in the first few weeks of 2011.  There were 971 single family homes that closed in the month of December, but 723 new listings have increased our inventory from 7591 at the end of December to 8314 as of today. This increase is […]

For single family homes as of December 2010: Median Price $172,000 vs $400,000 peak in May of 2007 8156 single family homes listed on the MLS vs a peak inventory of 17,070 in July of 2008 Currently there is a 10 month supply.  A 6-9 month supply is a stable market, so we are getting […]