The Broward Home Stats for Feb 2011 are in!

The numbers are in for Broward county single family homes (not including condos or townhomes) that were sold in Feb 2011! There’s a few charts (below) 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 were about 104 days. (This number may vary greatly if you drill down to certain cities or price ranges)

 

  • About 44% of the homes sold are under $150K which is up from 36% in January 2011! Out of 919 total sales 405 were priced under $150K and 116 were between $150K and $200K. This does NOT include condos either!

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)

 

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

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)

Government Bailout Money coming to FL!

I’m not a huge fan of bailouts, but looks like this little bailout might help FL to some degree. Probably not too much, but check it out…

Dustin

Obama administration: $208.4M to stabilize Fla. neighborhoods

TAMPA, Fla. – Sept. 10, 2010 – The U.S. Department of Housing and Urban Development (HUD) awarded an additional $208,437,144 in funding to Florida communities struggling to reverse the effects of the foreclosure crisis, the third round of funding through HUD’s Neighborhood Stabilization Program (NSP).

To kick off the Florida funding – part of a $1 billion package for all states – HUD Deputy Secretary Ron Sims joined Congresswoman Kathy Castor yesterday in Tampa, which will receive $4.7 million for local foreclosure efforts.

FL First time home buyer resources

Find out what you need to know about various FL First Time Home Buyer programs and information you’ll need to take advantage of YOUR tax dollars!!

Like many first time home buyers in FL people are asking how they can get their hands on grant money or other types of government subsidies to help them buy a home. As a Realtor, my clients also ask me about these programs from time to time when they can qualify. I thought I’d answer some general questions about these programs and also point you to a few resources that might help you dig deeper.

FHA Loan Guidelines

If you have talked to anyone about getting a mortgage recently you’ve probably heard about FHA loans or “Government Backed” or “Government insured loans”. A common misconception is that these loans are only for very low income people who can’t get a traditional loan from a bank, or first time home buyers, but this is not the case….

Uncle Sam wants You… to qualify!

There are very broad criteria for FHA insured loans that just about many people can qualify for. This doesn’t mean everyone does though. For example, FHA loans have more liberal credit guidelines, unlike many other loan products, but there are still criteria that need to be met.
The Background of FHA Loans…

Are Foreclosures Really Good Investments?

The answer is…it depends…

First, you need to identify what makes a deal good to you? Good price? Good Condition? Good Terms? Some combination of the three? Knowing what makes sense for your goals and finances is the key knowing if the property you’re looking at is a deal.

First things First…..

When thinking about buying a foreclosure, or any home for that matter, make sure you know what your goals are for the property BEFORE you make the offer!!!

Just remember, “if you fail to plan you plan to fail”, at least most of the time anyway. When it comes to my clients, I let them know upfront that if they like a property that needs $30K in rehab costs, and a lot of out of pocket expenses, but they don’t have much money to put into the deal readily available, that they need to be careful.

Why all the Foreclosures- What’s the Deal?

No one with a pulse could miss the all news about the “Foreclosure Crisis” we are facing as a nation, and particularly here in S. Florida.  I’m sure the gurus of late night tv who teach you “how to make millions in foreclosures”, or whatever the spin, will be really raking in the cash thanks to all the publicity.

One question I seem to get every now and then is the reason behind so many people are facing foreclosure right now. Who’s to blame? Is it the government? The banks? Those mean ‘ol real estate investors?I thought I’d take a minute to quickly address what I’m seeing in my daily life as a Realtor here in Broward County FL.

. Coral Shores Realty's Dustin Miller 6876 West Sample Road, Coral Springs, FL 33067-4283 (954) 907-4773 Realtors Coral Springs Locations Real Estate Directory