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Broward Market Update for 1/2011

broward county property informationThe numbers are in for Broward county single family homes that were listed, sold, or under contract in the first month of 2011! There’s a few charts I’ve attached so you can see the info for yourselves.

 Keep in mind this is for ALL single family homes in Broward including short sales, foreclosures, & conventional sales (homeowner to buyer transactions).

 

A few things that stuck out to me are:

 

  • Average Days on Market for homes ranges from 3 1/2 to 4 1/2 months currently. (This number may vary greatly if you drill down to  certain cities or price ranges)

   Read more...

  • About 36% of the homes on the market, under contract, or sold are under $150K! This does NOT include condos either!

FHA Short Refinance Programs falls Short

WASHINGTON – Feb. 8, 2011 – A government program intended to help hundreds of thousands of underwater homeowners is off to a slow start.

Since its September launch, only 38 homeowners have refinanced mortgages through the FHA Short Refinance program, backed with $11 billion in federal funds. The Federal Housing Administration has said the program could eventually help 500,000 to 1.5 million borrowers.

The program requires mortgage owners to forgive at least 10 percent of a borrower’s unpaid principal so that the loan can be refinanced into an FHA loan at a lower interest rate. The goal: keep homeowners out of foreclosure even if they owe more on their homes than the homes are worth.  Read more...

Parkland Real Estate Listings

Search Parkland Real Estate listings for sale here!

You can also find any Parkland Short Sales and Parkland Foreclosures in my database as well! Most websites like Zillow and Trulia do NOT have realtime listing information and properties you find there may already be under contract or sold. Don’t waste anymore time and start your home search here! If you’d like to have listings emailed to you the second they hit the market,  simply fill out the form below  with as many details as possible and you’re “Property Alert” will be created!

Search for Parkland Real Estate right now!

including: Heron Bay homes for sale, Cypress Head homes for sale, Parkland Isles homes  for sale, Pine Tree Estates homes for sale, Fox Ridge homes for sale, and Parkland Golf homes for sale!  Read more...

Coral Springs Real Estate Listings-Find homes for sale in Coral Springs!

Search for Coral Springs real estate right here! Don’t wast your time on those other internet sites with outdated information, when you can search directly through the MLS database here! Find homes for sale in Coral Springs by using the search tool below.

 

…In addition to finding homes for sale in Coral springs, you can find any short sales, foreclosures, corporate owned properties, and HUD properties in Broward or Palm Beach as well!

I know it can be really frustrating to search all over the internet just to find out that a home you are interested in already sold months ago. So to save you that frustration, you can be confident to know that the properties you’ll find below are Current and Up to Date unlike many other property listings sites out there.  Read more...

2010 Broward single family home stats

The Numbers Are In!…….

Check out the Stats for Single family homes in Broward county between Dec 2009 and Dec 2010. I have several Charts below you can see if you’re interested. Pretty interesting stuff (if you’re into this kind of information). A few of the key points I noticed were:

1) The number of properties that were “under contract” increased.

2) New inventory seemed to dwindle toward the end of 2010

3) The total number of homes for sale remained pretty much the same through the entire year (even in light of #2 above)

4) Home sales also slowed down toward the end of 2010 (December is typically slow).

5)The Average Days on Market for homes that sold/under contract was pretty stable throughout the year at approx 101 days on market. They did rise slightly at the end of the year. 

(Click to enlarge)  Read more...

YOUR Neighborhood Short Sale Specialist!

I’m a Short Sale Realtor specializing in the Coconut Creek & Coral Springs area as well as the surrounding cities.

There’s a lot of information, or better yet, misinformation about short sales out there that has caused many homeowners a lot of headache and may have even negatively affected their financial lives as a result.

When it comes to something as important as doing a short sale on your home it pays to get good quality advice from someone who understands the situation you might be facing. Watching the news, and taking advice from friends, or family, that are not qualified to give it is a HUGE mistake that you do not want to make.  Read more...

What is a Short sale?

You’d be hiding under a rock if you haven’t heard a ton about short sales in the news and everywhere else you look. From the radio ads, bus stop benches, and warnings about scam artists taking advantage of people there is A LOT of misinformation out there.

I figured I’d put this short article together to help people understand exactly what a short sale is and some of the very basic information about them. This basically “Short Sales 101″ information that some of you may already know, but others may need to know…

The term “short sale” in the Real Estate world basically means selling a home for less than the balance of the loan that a bank or lender is owed. There is nothing mystic about what a short sale is. Just owing more on a home than you are able to sell it for on the open market, and needing the bank’s approval for them to take a loss for the difference.  Read more...

Failed mortgage modifications leave homes in even more peril

This is the stuff many of my clients end up dealing with…such a shame…have a read…Dustin

Failed mortgage modifications leave homes in even more peril

CHICAGO – Oct. 28, 2010 – Rogelio Huerta and Maria Soto did everything they were supposed to do to reduce the monthly mortgage payments on their Bellwood, Ill., home.

Facing a cash crunch because his work hours were cut, they sought help from PNC Mortgage while they were still current on their payments. At its suggestion, they met with a housing counselor who helped them get a trial loan modification, and they made all the payments on time for 13 months. They also followed the advice of housing counselors to set aside money left over, putting off home and car repairs, while they waited to learn whether their reduced payment plan would be made permanent.  Read more...

Inspector general calls mortgage modification program (HAMP) a ‘failure’

WASHINGTON – Jan. 27, 2011 – A mortgage modification program aimed at saving homeowners from foreclosure has failed because regulators are “afraid to rein in or impose penalties on the mortgage servicers” whose record “has been nothing short of abysmal,” the program’s watchdog told Congress Wednesday.

As a result, some House Republicans moved to scrap the 2-year-old program.

Neil Barofsky, the special inspector general for the government’s bank bailouts, bluntly labeled the mortgage program a “failure” in testimony before the House oversight committee.

“And I think that if Treasury doesn’t respond to some of these things in a quick manner,” he said, the call to dismantle the Home Affordable Modification Program (HAMP) “is just going to become a louder and louder chorus, and understandably so.”  Read more...

Facing foreclosure? New Fannie Mae website helps consumers find options

Facing foreclosure? New Fannie Mae website helps consumers find options

WASHINGTON – Aug. 16, 2010 – Fannie Mae launched a new website to help consumers understand their options when facing foreclosure and the possible loss of their home. Called KnowYourOptions.com, it outlines the choices available to homeowners struggling to make mortgage payments, and provides guidance on how they can contact and work with their mortgage company to find a back-up plan.

KnowYourOptions.com provides information in both English and Spanish. Features include:

• Interactive Options Finder helps homeowners identify options.

• Calculators help borrowers understand how many of the options would work in their situation, including calculations about refinance, repayment, forbearance, and modification.

• Videos feature real homeowners discussing how they received help; others feature housing counselors giving advice.  Read more...

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