Fort Lauderdale, FL MLS Real Estate Statistics July 2012

The South Florida real estate rebound continues on over the summer in Fort Lauderdale, Fl & surrounding areas.

Inventory of homes and condos is very low in neighborhoods and condo buildings. The market has definitely turned a corner and we are seeing multiple offers on homes priced at market vlaue. Home buyers are looking for homes to purchase can find themselves in multiple offers situations.

Fort Lauderdale Fl real estate market July  statistics from the Realtors Association of Greater Fort Lauderdale are out. It is hard to make an accurate analogy of the entire Southeast Florida Region by viewing the general statistics. Every neighborhood is a different market & every condo building is a different market.

If you want a true picture of a neighborhood market ask a Realtor you trust to review the market statistics for that neighborhood to determine which way the market is headed.

Our Board of Realtors tracks our market statistics. To review the greater Fort Lauderdale real estate market statistics for July 2012 click on the link below.

http://www.r-world.com/mls/statistics/mls-statistics-2012-07.pdf

Here are a few notes to get you started.

MLS is an acronym for the Multiple Listing Service. This is the Realtors database where all real estate activity is stored for The Greater Fort Lauderdale area which includes the western suburbs. These are July 2012 numbers.

RAGFL is an acronym for Realtors Association of Greater Fort Lauderdale.

The most interesting statistics for July are

Available inventory of single family homes is down 35% from July of 2011. This is causing prices to rise slightly. Once you remove homes that are in bad condition and homes that are short sales buyers have fewer choices.

Available inventory of condos/townhomes is down 28 % from July of 2011. There is even less inventory for desirable waterfront and view units. The condo market has recovered quite well and prices will rise.

The percentage of available inventory that is bank owned or a short sale is 23% for single family homes. That number is down from July 2011 which was 31%. Banks continue to bring the foreclosure inventory to the market place very slowly.  No doubt this is an attempt not to flood the market and to effect prices.

The percentage of available inventory that is bank owned or a short sale is 19% for condos and town homes. That number is down from July 2011 which was 25%.

The number of single family closed sales is up 6 % from July 2011.

The number of condo closed sales is down 1 % from July 2011.

Are prices going in an upward trend? Yes. At the present time we are seeing small price increases in many neighborhoods and condo communities. I am optimistic that prices should remain relatively stable especially in desirable waterfront & East Fort Lauderdale locations and neighborhoods with good school districts.

Has the Fort Lauderdale, Fl real estate market improved? Yes! Inventory of levels are low and buyers are responding to interest rates in the mid threes and low fours. The economy and the interest rate will be major determining factors of the future of the Fort Lauderdale real estate market.

There is now 4 months of inventory for single family homes & and 5 months of inventory for condos. These are inventory levels that are consistent with a sellers market.

Need more detailed information about your neighborhood? Call or write to me. I’ll be happy to provide you with answers without sales pressure.

The Fort Lauderdale, Fl market is heating up. It’s a great time to sell.

Call Holly for a confidential analysis at 954-560-6973.

Fort Lauderdale MLS Statistics for June 2012, Fort Lauderdale Fl

The South Florida real estate recovery marches on over the summer in Fort Lauderdale, Fl & surrounding areas.

Inventory of homes and condos is very low in neighborhoods and condo buildings. The market has definitely turned a corner and we are seeing multiple offers on many homes. Many buyers are still looking for homes to purchase.

Fort Lauderdale Fl real estate market June statistics from the Realtors Association of Greater Fort Lauderdale are out. It is hard to make an accurate analogy of the entire Southeast Florida Region by viewing the general statistics. Every neighborhood is a different market & every condo building is a different market.

Waterfront properties retain more desirability than non waterfront. In neighborhoods with good school districts there is fierce competition for the best homes.

If you want a true picture of a neighborhood market ask a Realtor you trust to review the market statistics for that neighborhood to determine which way the market is headed.

Our Board of Realtors tracks our market statistics. To review the greater Fort Lauderdale real estate market statistics for June 2012 click on the link below. This is the exact report that I receive every month.

http://www.r-world.com/mls/statistics/mls-statistics-2012-06.pdf

Here are a few notes to get you started.

MLS is an acronym for the Multiple Listing Service. This is the Realtors database where all real estate activity is stored for The Greater Fort Lauderdale area which includes the western suburbs. These are June 2012 numbers.

RAGFL is an acronym for Realtors Association of Greater Fort Lauderdale.

The most interesting statistics for June are

Available inventory of single family homes is down 35% from June of 2011. It is amazing how much the inventory of single family homes has decreased. This is causing prices to rise slightly. Once you remove homes that are in bad condition and homes that are short sales buyers have fewer choices.

Available inventory of condos/townhomes is down 30 % from June of 2011. There is even less inventory for desirable waterfront and view units. The condo market has recovered quite well and prices will rise.

The percentage of available inventory that is bank owned or a short sale is 24% for single family homes. That number is down from June 2011 which was 32%. Banks continue to bring the foreclosure inventory to the market place very slowly. No doubt this is an attempt not to flood the market and to effect prices.

The percentage of available inventory that is bank owned or a short sale is 19% for condos and town homes. That number is down from June which was 26%.

The number of single family closed sales is up 3 % from June 2011.

The number of condo closed sales is down 7 % from June 2011.

Are prices going in an upward trend? Yes. At the present time we are seeing small price increases in many neighborhoods and condo communities. This is unexpected as the market normally remains flat for a year or two after a declining market. There still are a large number of foreclosures coming through the courts so it will interesting to see what happens, however I am optimistic that prices should remain relatively stable especially in desirable waterfront & East Fort Lauderdale locations and neighborhoods with good school districts.

Has the Fort Lauderdale, Fl real estate market improved? Yes! Inventory of levels are low and buyers are responding to interest rates in the low fours. The economy and the interest rate will be major determining factors of the future of the Fort Lauderdale real estate market.

There is now 4 months of inventory for single family homes & and 4 months of inventory for condos. These are inventory levels that are consistent with a sellers market.

Need more detailed information about your neighborhood? Call or write to me. I’ll be happy to provide you with answers without sales pressure.

Shark Fishing Fort Lauderdale, Fl

There are plenty of sharks lurking in Fort Lauderdale, Fl real estate that are to be avoided.  The video below has a real life shark that was hooked in the New River in Fort Lauderdale Fl.

Young Scott had been disappointed by the shark fishing charter which netted zero sharks. Never disappointing Captain Carmine hooked a shark off his boat which was docked at Riverview Garden Condos on the New River in Downtown Fort Lauderdale, Fl.

Note how the Jungle Queen stops in the background to take in the sight. Great Job Carmine & Scott !!!

Want a home where you can fish off your dock?  Call me for your real estate needs.

Fort Lauderdale’s, FL Great Real Estate Market Summer of 2012

Fort Lauderdale’s Fl. real estate market keeps going strong in the greater Fort Lauderdale and surrounding areas.  Isn’t this supposed to be our slow time? I had four showings yesterday on one property on a Monday after a busy weekend.

I want to share with you why Fort Lauderdale’s Great Real Estate Market Summer of 2012 is the strongest and best market we have had in many years,

Here are ten reasons why we are in Fort Lauderdale’s Great Real Estate Market Summer of 2012.

1. Inventory is very low.

2. Prices are very low.

3. Interest rates are very low.

4. Banks have money to lend and they are lending it.

5. There are many buyers in the market because of numbers 1 – 4.

6. Most buyers after being outbid on an offer or involved in multiple offer situations come to understand the market.

7. There are a number of sold sales (sold comps) and homes are appraissing for market value.

8. Short sales (for the most part) are getting faster & easier.

9. Foreclosures are fewer in number.

10. The weather has been cooler in Fort Lauderdale (90 degree average) than the East Coast and much of middle America.

Ready to take advantage of the Fort Lauderdale’s Great Real Estate Market Summer of 2012 ? Call me for a confidential interview !

Moon over 15th Street Fishery, Fort Lauderdale, FL

Happy 4th of July from Fort Lauderdale, Fl

This is the past Sunday service at First Baptist Church in Fort Lauderdale, Fl.  What a great patriotic service.  Have a great Fourth!

God Bless America and God Bless our Troops.

Selling your Fort Lauderdale home as South Florida Home Prices are Rising.

Here is some good news for a Friday concerning rising home prices in S. Florida. While other parts of the country still have struggling real estate markets South Florida has turned a corner.  This is great news if you are thinking of selling your Fort Lauderdale home.

Yesterday in the Sun Sentinel it was reported that ” April prices in Palm Beach, Broward, and Miami Dade counties rose .04 percent from March and 3.2 percent from a year ago”.

Good neighborhoods are enjoying even more price appreciation. With a nominal amount  of foreclosures and short sales on the market it’s a great time to think of selling your Fort Lauderdale home.  Competing short sales and foreclosures can have a negative effect on prices.

Have a question concerning selling your Fort Lauderdale home in a unique market? Call me for a confidential conversation without sales pressure.

Need a great deal?  Call Holly regarding this Lighthouse Point home listed at only $279,000 for a 4/2 pool home east of US 1.

Great 4/2 with pool - East of US 1 in Exclusive Lighthouse Point

10 Reasons to Sell your Fort Lauderdale Home in the Summer

I often speak with property owners who want to want until the season to placed their home on the market. Our “season” is the tourist season from January 1 through Easter when the weather is perfect and many tourists vacation in Fort Lauderdale.

There are many good reasons why this may not be the best strategy to sell your Fort Lauderdale home. Here are 10 of them.

1. Families with children move when the children are out of school so the children do not have to change schools during the school year.

2. The days are longer and agents have a longer day to sell your Fort Lauderdale home as compared to winter when it is dark at 5:00 pm.

3.  The interest rates are low currently. No one can predict where they will be in January.

4. The inventory of homes for sale is currently low.

5. Buyers are looking now for homes to purchase.

6.  Corporate relocation and transferees are transferred are year long.  These buyers are more motivated than tourists who are just looking.

7. Less competition. The other property owners are selling during the season.

8.  The Season has a lot of activity but that doesn’t always translate into sales. There are many “looky-loo’s” who are more interested in looking – not buying during the season.

9. Your agent has more time to devote to your sale with less lookers in the market place.

10. There are a low amount of foreclosures on the market place now. If you wait to sell your Fort Lauderdale home when the banks have geared up you will be competing with lower priced foreclosures.

Have a question about selling your Fort Lauderdale home? Call or email me and I’ll be happy to answer it.

10 Things To Do When You are Selling your Fort Lauderdale Home and You Are Going on Vacation.

Your Fort Lauderdale home  is on the market and ready for sale.  You did a great job staging and preparing the house for all those buyers.

You  are ready for a vacation and don’t want to delay it just because you are selling your Fort Lauderdale home.

Keep these 10 “Do’s ”  in mind while you are going on vacation

1) Keep your Fort Lauderdale  home on the market and let the showings continue as usual.  Don’t  consider “No showings until we return”.   We are professionals who show your home for you and you do not want to ever miss a showing since you don’t know who your buyer is.

2) Make arrangements so that your agent will be able to contact you and get paperwork to you if there is an offer.  With todays electronic means of communication there are multiple ways you can communicate with your agent.

3) Keep your air conditioning on a comfortable temperature.   The first thing a buyer will assume is that the A/C is not working in your Fort Lauderdale home.

4)  Have your mail held at the post office while you’re gone.  Suspend delivery on your newspaper or ask a neighbor to collect it for you.

5) Make arrangements for any packages you have being delivered to be picked up by a neighbor from your Fort Lauderdale home while you’re gone.  Packages setting on the front steps for days are a signal you’re not home.

6)  Keep it a secret on your social media sites.  No Facebook, Tweeting,  Blogging or ANYTHING. Criminals have access to social media too. Wait until you return to your Fort Lauderdale Home to broadcast your vacation to the world.

7)Make arrangements for the flowers & lawn to be watered and your lawn mowed.  If a property is not visually appealing form the curb buyers won’t get out of the car.  The city of Fort Lauderdale will give you a code enforcement violation if your grass is neglected.

8)Tell your agent you’re leaving town well in advance of your departure from your Fort Lauderdale home.

9) Take out ALL of  the trash before you leave.  You do not want the first impression of the buyers to be “what stinks?” because you forgot about the leftover fish you tossed before leaving.

10) Leave the hurricane shutters open on your Fort Lauderdale home. Be sure to make arrangement with a contractor or a neighbor to attend to this in the event of a major storm.

Have a question about this post or would you like to make Fort Lauderdale your vacation spot? Call or write to me and let me know you plans.

Tortola, BVI - One of my favorite vacation spots

Tortola, BVI - One of my favorite vacation spots

Tortola, BVI - One of my favorite vacation spots

Summer is here in Fort Lauderdale, Fl

Summer is officially here.  The warm winds of summer blow into Fort Lauderdale just before or after Memorial Day.  This is when you really notice the temperature change.

In spite of being in the tropics summer is one of my favorite times of the year in Fort Lauderdale.  My top ten reasons are below.

1.  Long days  - The days last forever.

2. Less traffic – The majority of the tourists have gone home and traffic is light.

3. The light  - The sunlight is so beautiful in the summer. It reminds me of the South of France.

4. No reservations in restaurants – Walk in anywhere.

5. The fish are biting – In any summer month something good to eat is biting.

6. The grill is fired up – We barbeque often.

7. The beach is less crowded – And guess what? It’s not that hot. I was there on Sunday around 11:00 am & it was delightful.

8. Staycation time – Great deals on hotels in Fort Lauderdale and all of Florida for that matter.

9. Great Eats – Many great restaurants offer 2 for 1 appetizers, lunches or drinks.

10. The Deals are endless. Click the link below to see Super Summer Savings deals offered by many local businesses.

Super Summer Savings – 2 For 1 Summer Deals – Fort Lauderdale Things To Do – GFLCVB

Have a question  about Fort Lauderdale or Fort Lauderdale real estate? Drop me an email or give me a call.

Fort Lauderdale Beach at Sunset