Home loan rates increased by .125% last week, in reaction to good economic news.  As interest rates increase your purchasing power decreases, so why wait for interest rates to go up further?  They are still at historically low rates.

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 […]

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 […]

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.

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]