Latest Real Estate Statistics in Different Parts of South Florida

To view the latest real estate statistics in Dade, Broward, and Palm Beach counties and the changes from last year, please click on the links below.

Dade County Real Estate Statistics

Broward County Real Estate Statistics

Palm Beach County Real Estate Statistics


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Icon Brickell

Many people ask me to share with them when I come across an amazing place to live. Icon Brickell is just that. If you are interested in more information on Icon or would like to take a tour of the building, please let me know @ (305) 439-3031. Please click on the link to view photos of Icon.

Icon Brickell Photos


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

What's Really Important

There is so much information out there today on buying or selling a home. There are many reasons to buy, many reasons to sell, many reasons NOT to buy, and many reasons NOT to sell. As a Realtor, I have heard these reasons over and over from both buyers and sellers on an almost daily basis. So what should you do today if you are a buyer or a seller? It sounds pretty confusing, doesn't it? It really isn't at all. A person that I have very much respect for in the real estate industry recently wrote an article on what's really important. If you are buying or selling now or sometime in the future, it is incredibly important that you spend three to five minutes to read the article. The link is below. Thanks Nancy for the excellent article.

What's Really Important article


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Latest Real Estate Statistics in Different Parts of South Florida

The real estate market has changed tremendously in the last year. Sales have gone way up! To view the latest statistics, Dade, Broward, and Palm Beach counties and the changes, click on the links below.

Dade County Real Estate Statistics

Broward County Real Estate Statistics

Palm Beach County Real Estate Statistics

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Homebuyer Tax Credit Extension and FAQ

The Homebuyer Tax Credit bill was extended today. Besides Congress, Coldwell Banker, was very instrumental in extending this huge benefit. There are many questions that so many people have regarding the bill, as well as the new tax credits available to certain individuals. To get a much better understanding to many frequently asked questions (FAQ), please click on the link below.

Homebuyer Tax Credit Summary (FAQ)

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Palmetto Bay Beauty

Many of you have asked me to post homes on this blog that are great values in my opinion. The link below is to a home that is just that. To truly appreciate the home, one has to view it in person. In case you are interested, there will be an open house this Saturday between one and three in the afternoon. The home is in Palmetto Bay and the address there is 17621 SW 87th Avenue. I hope to see you there.

Palmetto Bay Beauty

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Home Prices Rise for 3rd Straight Month

Home prices rose for the third straight month according to the Standard & Poor's/Case-Shiller home price index. To find out more detailed information on the new statistics, please click on the link below from the Miami Herald story.

Home Prices Rise Story

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Home Prices Up!

Home prices have gone up for the first time in three years according to the S&P Case-Shiller home price index. To read the CNN article, please click on the link below.

Home Prices Up Article

If you want the latest up to date real estate statistics, please visit www.DadeCountyMLS.com.


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Quick Real Estate Sales Stat

A story in the Miami Herald today reported the following:

Monthly numbers from the Florida Association of Realtors show that South Florida existing-home sales continued to rise in June, as bank-owned homes and short-sales attracted bargain hunters from across the country. Figures released Thursday showed single-family home sales were up by 54 percent in Miami-Dade and 35 percent in Broward, compared to last year. Condo sales were up in both counties, too -- by 19 percent in Miami-Dade and 58 percent in Broward.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Updated Real Estate Stats

In today's Miami Herald there were some updated real estate statistics for Miami Dade and Broward County that I thought you guys might be interested in.

Sales of single-family homes were up by 76 percent in Miami-Dade County and 47 percent in Broward County, compared to May of last year. Condo sales also rose by 36 percent and 25 percent in Miami-Dade and Broward, respectively. The number of single family homes for sale in May fell from a year ago by 33 percent in Miami-Dade and 36 percent in Broward. The number of condos for sale dropped by 20 percent in Miami-Dade and 26 percent in Broward.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

More Celebrity Homes for Sale

Here are some more celebrity homes.

Shannen Doherty

Reality TV Stars John and Kate

Joan Rivers $25,000,000 Home

Martin Navratilova, Natalie Portman, Kevin Nealon,
Jesse McCartney, Britney Spears, Bob Eubanks,
Kenny Chesney, Kirsten Dunst, Patrick Dempsey


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Chinese Drywall?

A lot of people have asked me recently about something called Chinese Drywall. In case you are curious about this topic, the Miami Herald had an article about this subject in today's paper. Please click on the link below to read the story.

Chinese Drywall


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Memorial Day

Did you know that Memorial Day was originally known as Decoration Day because it was a time set aside to honor the nation's Civil War dead by decorating their graves? It was first widely observed on May 30, 1868, to commemorate the sacrifices of Civil War soldiers, by proclamation of General John A. Logan of the Grand Army of the Republic, an organization of former sailors and soldiers.

I have extreme respect for those who serve or have served in our military and for those who have fallen in order to keep our country the great country it is today. Have a safe and happy Memorial Day, and let's never forget those that have given us the ultimate gift - their lives.


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Updated Real Estate Stats

The Regional Senior Vice President of Coldwell Banker Residential Real Estate, Charles Richardson, sent me and the members of the Coldwell Banker some updated statistics on our real estate market. They definitely will give you a much better overview of our market. Please read the information he sent us below.

Sales units are up dramatically when you compare residential sales for April of 2009 with the same month last year. Closed sales in Miami-Dade County are up 44% while Broward County shows an increase of 29% when you compare April of this year to April of 2008. The average sales price in April fell 52% in Miami-Dade County while Broward County experienced a 42% decline in ASP. The unit activity growth is a reflection of a very active market, which is evident in every office I visit. The declining average price is the result of the market working out the inventory of foreclosures and short sales, combined with the affordable rates and tax incentives being offered on lower-priced property.

Current values are very good but inventories are shrinking. Months of inventory, based on closed sales, has dropped in Miami-Dade County from 43 months last April to 23 months this year. In Broward County, the inventory in April was 26 months last year, compared with 15 months this year. Shrinking inventories and lower pricing are creating significant value to our existing inventory and resulting in building stronger motivation in buyers who are exploring our market.

The high end of the market is not yet enjoying the resurgence I’ve described above. For homes over a million dollars, the Miami-Dade market experienced a 68% decline in sales units this April, as compared with last year. Broward County also saw a similar decline in sales this year, with a 69% decline when compared with last year. The months of inventory has increased from 41 months last April in Miami-Dade to 121.9 months this year, while Broward climbed from 53 months of inventory to 124 this year. The high-end buyers have not yet responded to the economic conditions like they have in the other price points of the market.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Celebrity Homes

Have you ever wondered how much celebrity homes go for? If you are curious, please click on the links below. And of course, if you are interested in purchasing one, please let me know :-)

Nicholas Cage Home

Diane Keaton Home

Lenny Kravitz Home

Horror Film Producer Oren Koules

Britney Spear's Father's Home

Richard Dreyfuss Home

Sex Advice Author Laura Corn


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Coldwell Banker Guest Contributor

I'm pretty sure that most of you that read this blog don't know that I started this blog in April 2005. I am very grateful to the numerous amount of people that frequently read all of my posts. The other day Coldwell Banker asked me to be a guest contributor to their own blog that they have. It was a huge honor for me, considering that they have hundreds of agents to choose from, and they choose me and another one of my associates for their April 28th post. If you get a chance, please visit the site below and scroll down to the April 28th post. Thanks again so much for taking the time to read my thoughts on real estate and many other things.

Coldwell Banker Blog


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Mortgage Rates Near All Time Low

Mortgage rates are incredibly low now days and have been heading towards all time lows. Please click on the link below to read an article about mortgage rates in today's market.

Mortgage Rates Near All Time Low

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Updated Real Estate Stats

The number of new housing projects that builders broke ground on in February rose sharply, defying economists' forecasts for yet another drop in activity. The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent from January to a seasonally adjusted annual rate of 583,000 units. Economists were expecting construction to drop to a pace of around 450,000 units.

Construction activity fell to a pace of 477,000 units in January, according to revised figures. That was a little higher than first reported but still marked a record low.

Applications for building permits, considered a reliable sign of future activity, also rose in February by 3 percent to an annual rate of 547,000. Economists were expecting permits to fall to a pace of 500,000 units.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Want a Check for $8000?

Not too long ago Congress made it possible for a tremendous amount of home purchasers to receive a check for $8000. To see if you qualify, please click on the National Association of Realtor's website link below, and also please double check with your accountant.

Do I Qualify for a Check for $8000?


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Quick Florida Foreclosure Statistics

In Florida, overall foreclosure activity was down 20 percent from the previous month, though the state still had the nation's fourth highest state foreclosure rate, with one in every 214 housing units receiving a foreclosure filing during the month, according to RealtyTrak. In total number of foreclosures, Florida's 40,770 properties ranked second nationwide behind California with 76,761. Two Florida cities posted foreclosure rates among the top 10 metro foreclosure rates: Cape Coral-Fort Myers at No. 3 with one in every 80 housing units receiving a foreclosure filing, and Port St. Lucie at No. 9 with one in every 123 housing units receiving a foreclosure filing.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Miami Herald's Reasons to Buy Now

In the Miami Herald today, there was an article that gave five great reasons people should buy real estate today instead of waiting. The reasons are below.

• Median home prices in South Florida are back to 2003 levels and some new, never-lived-in property is selling for less than it would cost to build a similar home.

Additionally, the median price for a single-family home -- now around $216,500 -- is starting to come within reach of households earning around the median income in Miami-Dade and Broward counties. That could unleash pent-up demand.


• Interest rates today are at record lows. This could save a buyer thousands more than buying at a cheaper price down the road when interest rates may be higher.


• There are eye-popping bargains out there due to foreclosures and short sales. The excess of homes and condos on the market also means prices are low.


• A new $7,500 tax credit is available for first-time home buyers until July 1. This can be used to offset the cost of a down payment.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Possible $15,000 Tax Credit to Home Buyers Coming

Congress is trying to do whatever is possible to make it more beneficial for people buying homes. There was a $15,000 tax credit amendment that was added to the the stimulus package yesterday by the Senate. Another proposal that hasn't been added yet is a subsidized fixed interest rate of 4% on a thirty year mortgage. MSN did a story today on this with more details. To go to the story, please click on the link below.

A $15,000 Gift for Homebuyers?


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Updated Foreclosure Statistics (Dade and Broward County)

It seems like every day I get asked about foreclosures and short sales. Many times people are curious just what percentage of properties for sale fall into these two categories. So instead of giving you my educated guess, I did some research and found out the true numbers.

In today's (February 4, 2009) MLS or Multiple Listing Service, there are 14,618 single family homes for sale in Dade County and 14,036 single family homes for sale in Broward County.
In Dade, 5,868 homes or 40.1% are foreclosures for sale. In Broward, 4,974 homes or 35.4% are foreclosures for sale. As for short sales on the market in Dade County, there are 3,501 homes or 23.9% available for sale. In Broward County, the number is 3,439 homes or 24.5% available for sale.

Today there are 22,498 condos for sale in Dade County on the MLS. Out of those, 7,853 condos or 34.9% are foreclosures for sale, and 5,136 condos or 22.8% are short sales available for purchase. In Broward County, there are 19,460 condos for sale on the MLS. Out of those, 6,613 condos or 34.0% are foreclosures for sale, and 4,099 condos or 21.1% are short sales available for purchase.

Based on the numbers above, the extremely low interest rates (sometimes in the four to five percent range), and prices that are many times less than half of what they were two years ago, now is definitely a great time to invest in real estate!

If you would like to view foreclosures available for sale, you can visit www.DadeCountyMLS.com.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Dr Martin Luther King Jr Quotes

In honor of Martin Luther King Day, below are some of his famous quotes.

The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.

Our lives begin to end the day we become silent about things that matter.

If we do not learn to live together as friends, we will die apart as fools.

Everybody can be great because anybody can serve. You don't have to have a college degree to serve. You don't have to make your subject and verbs agree to serve. You only need a heart full of grace, a soul generated by love.

Whatever affects one directly, affects all indirectly. I can never be what I ought to be until you are what you ought to be. This is the interrelated structure of reality.


Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Foreclosure Search

The number of homes sold in Dade County in December 2008 was 1168 compared to 783 homes sold in December 2007. That is a 49.2% increase. Many people are very surprised to hear that the numbers in sales have gone up. Most people think that the numbers have gone down because of all the bad news they hear from the media. There are many reasons for the increase in sales. The two biggest ones probably are the extremely low prices and interest rates. It is not uncommon to see homes selling for half of what they sold for two or three years ago. Because of that, investors are back in the market. Most of these homes being purchased are foreclosures, which are also called bank owned properties or REO's (real estate owned). As far as interest rates are concerned, there are many people that are locking in their fixed interest rates at five percent or less.

If you are interested in searching the many foreclosures available in today's market, you can visit www.DadeCountyMLS.com.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Happy New Year!!!!!!!!

May health, happiness, and good times greet you each day of the new year.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com