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
Wednesday, February 18, 2009
Monday, February 16, 2009
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
• 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
Friday, February 06, 2009
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
A $15,000 Gift for Homebuyers?
Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com
Wednesday, February 04, 2009
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
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
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