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!

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!

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

Coral Springs real estate-find homes for sale in Coral SpringsSearch 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 Don’t wast your time on those other internet sites with outdated information, when you can search directly through the MLS database here!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 clicking the link below.

 

4394 NW 9 Ave #21-2D Deerfield Beach, FL 33064

Move in ready unit in popular Heritage Circle ready for new owner! NOT a short sale or foreclosure so no headaches with banks to worry about! Currently tenant occupied and can be a turnkey rental as currently leased for $800 per month. Can rent right away in this complex and taxes are VERY low at under $700 per year w/ NO Homestead exemption!

MLS # (if any): F1116548
List Price: $59,000
Type of Sale: Conventional (regular sale)
Pool: Community Pool
Waterfront: No
Square Feet: 1040
Bedrooms: 2
Bathrooms: 2
Garage Spaces:

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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)

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…

Buying Short sales vs. Bank Owned Properties (REOs)


With the majority of sales being Short Sales and Foreclosures in our current market I thought I’d explain a little about each one and some of the pros and cons.

There are upsides and downsides to each, for example:

Buying a Foreclosed home- (Bank owned, REO, etc)

When you are buying a foreclosure there are usually bank required addenda/contracts that will be utilized when buying which sometimes scare would be home buyers. They are not to be feared if you understand what is required of you, and the terms they contain, but if you are fearful it’s always good to have your attorney review them BEFORE you sign.

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.

Email Property Lists

Are you looking for a home in the Broward county or S Palm Beach area?  If you are looking for Short Sales, Foreclosures, Corporate owned properties, HUD Homes,etc. then fill out this form and I’ll be glad to email you listings that fit what you’re looking for.

You can find great deals if you are first to know what comes on the market in your area and with my email system you will be notified as soon as these homes are listed! You can’t get any faster than that!

Fill out the form below!

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I am looking to buy a Home

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Save my Home!

Contact me to request information on your current situation. If you’re not able to make your monthly mortgage payments or are seriously struggling to do so YOU HAVE OPTIONS!

Everyone’s situation is different and waiting until things get worse only means you’ll have less options than you would if you take action now. Get educated and understand what you need to do to either keep your home, or get out of it without seriously regretting the consequences you could face.

You owe it to yourself and your family to take a few minutes and find out what you can do. I’ll be glad to give you sound advice and do my best to lead you in the right direction in this difficult time.

. 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