Multiple offers possible in tight housing market, experts say

Posted by on Aug 23, 2012 in Blog | 0 comments

Bidding wars are back as the housing market continues its recovery. After years of lackluster sales and sagging prices, demand is growing while the number of homes for sale shrinks. Those market conditions drive multiple offers in many areas, but real estate agents and other housing followers say sellers still can take practical steps to boost the level of interest among buyers. • Price it as low as possible. Many sellers and their agents obviously underprice homes to attract bidding wars. Douglas, a broker at in West Palm Beach, Fla.,...

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Fla. housing market continues positive track

Posted by on Aug 22, 2012 in Blog | 0 comments

Existing-home sales improve in July, prices continue to rise Pending sales, closed sales and median prices rose, while the inventory of homes and condos for sale dropped in Florida’s housing market in July, according to the latest housing data released by Florida Realtors®. “Florida’s real estate recovery is on solid ground,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Since May 2011, pending sales have increased every month for both...

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Home prices rose 0.8% in May

Posted by on Jul 24, 2012 in Blog | 0 comments

The federal agency that tracks same-home sales over time under Fannie Mae and Freddie Mac says prices rose 0.8 percent in May compared to April. And prices were up 3.7% year-to-year, since May 2011. The Federal Housing Finance Agency’s (FHFA) monthly House Price Index previously reported a 0.8 percent increase in April, though it revised the index downward slightly to a 0.7 percent increase. The index is 17.0 percent below its April 2007 peak and roughly the same as its May 2004 level. Since the FHFA’s index looks at repeat sales of the...

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The housing market has turned—at last.

Posted by on Jul 19, 2012 in Blog | 0 comments

The U.S. finally has moved beyond attention-grabbing predictions from housing “experts” that housing is bottoming. The numbers are now convincing. Nearly seven years after the housing bubble burst, most indexes of house prices are bending up. “We finally saw some rising home prices,” S&P’s David Blitzer said a few weeks ago as he reported the first monthly increase in the slow-moving S&P/Case-Shiller house-price data after seven months of declines. Nearly 10% more existing homes were sold in May than in...

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Latest housing scam: ‘Securitization audits’

Posted by on Jul 5, 2012 in Blog | 0 comments

 A new foreclosure rescue scam promises to help distressed homeowners reveal the actual owner of a promissory note through a “securitization audit.” But the scammers are charging fees for information that’s free. “These questionable outfits are targeting desperate families, giving them the impression they can make their mortgages disappear if they just pay for a securitization audit,” said Mortgage Fraud Examiners founder Storm Bradford. Owners are told that a securitization audit finds the true owner of their mortgage, and that can...

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South Florida foreclosures up 38 percent this year

Posted by on Jul 3, 2012 in Blog | 0 comments

There were 4,183 foreclosures filed in South Florida in June this year, according to Condo Vultures, a 34.5 percent increase from the same month a year ago. Slightly more than one third of the foreclosures, or 1,696 of them, came in Broward County, which continued to lead South Florida counties in foreclosure filings last month. Miami-Dade County came in second with 1,472 foreclosures, compared to 1,118 in June of 2011. Palm Beach County ranked third with 1,015, nearly twice as many as the 655 foreclosures it saw in the same month the...

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Rental rates forecast to rise in 2012

Posted by on Jun 1, 2012 in Blog | 0 comments

Rental rates forecast to rise in 2012 SARASOTA, Fla. – June 1, 2012 – Throughout Florida, such factors as an improving job market, a lack of new apartments construction, and declining vacancy rates has Marcus & Millichap forecasting apartment rent hikes in most of the state’s major markets this year. Bryn Merrey, vice president and regional manager in the firm’s Tampa office, remarks, “We’ve started hearing very frequently that people were able to raise their rents for the first time in a long time.” However, there may be a...

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Pending home sales retrenched in April

Posted by on May 30, 2012 in Blog | 0 comments

NAR: Pending sales index at 95.5, down 5.5% from March but up 14.4% from year ago. Housing recovery still on track WASHINGTON – May 30, 2012 – Following three consecutive monthly gains, pending home sales retrenched in April, but are notably higher than a year ago, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 5.5 percent to 95.5 from a downwardly revised 101.1 in March but is 14.4 percent above April 2011 when it was 83.5. The data...

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May 2012 Real Estate update

Posted by on May 14, 2012 in Blog | 0 comments

May 2012 KCM View more webinars from Steve Harney

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Miami condo prices jump 38 percent in first quarter, inventory falls 33 percent

Posted by on May 10, 2012 in Blog | 0 comments

The median sales price of a Miami-Dade County condominium rose by 38 percent in the first quarter, compared to the same period in 2011, according to a report from the Miami Association of Realtors. The median single-family home sales price rose to $174,799, a 14 percent increase compared to the first three months of 2011. “In the first quarter, we have seen further decline of housing inventory in Miami-Dade County, coupled with consistent and significant price appreciation,” said Martha, 2012 Chairman of the Board of the Miami Association...

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