The Real Estate Mango

Archive for the 'Market Trends' Category

WHAT HOME IMPROVEMENTS ARE WORTH DOING BEFORE YOU SELL

Many factors enter into the decision of what improvements to make to your home before you sell…for instance the current state of your home and buyers expectations in your price range.

It also depends on the relative aesthetic and perceptual boost that a particular project promises and any negatives that this improvement will make up for. Your budget has to be figured in,as well.

But here are some decisions that have a big impact and will not cost a lot of money.

l. PAINT A fresh coat of paint gives a massive upgrade with relatively low cost and a high do-it-yourself ability of painting. The aim of a new coat of paint is to go neutral, not boring. You might try taupe walls and white trim. If you can’t paint everything, then paint the hallway, moldings and trim.

2. NEW KITCHENS Only do this if you are in a very high price range otherwise, just painting the cabinets…replacing the sink…replace appliances if they are truly very outdated.

3. PLUMBING PROBLEMS Have a handyman or plumber come in and fix any leaks, drips, etc. which will alleviate any worries that buyers may have.

4. DON’T FIX faulty appliances.. Instead consider offering a credit for the buyer to choose his own.

5. FIX old and outdated hardware, fixtures and finishes.. These can be just small things like light switches,, kick plates. These are not expensive and make a big difference. Old and broken toilets, dinged or broken doors should be replaced. This makes a big difference.

6. CLEAR all clutter and keep shades up and let in the light.

7. YOUR home should look like a stage on opening night. Selling your home, is a lot like theatre. The BUYERS have to be enticed.

FRENCH BUYERS INTERESTED IN SOUTH FLORIDA REAL ESTATE

French Buyers’ interest in South Florida properties in growing as reported in the Miamire.com, a realtor web site

France rated as the top country searching for Miami properties, according to Miamire.com, on their web site since April 2013

Foreign buyers have been very instrumental in heating up the real estate market in Dade and Palm Beach counties. The highest prices on record have been paid this year, 2013, in these areas.

Canada, Brazil and Venezuela were top countries of origin for the majority of the Florida buyers last year.

Miami has been the Sunshine States’ biggest real estate magnet, where tens of thousands of pre-construction condos still in the pipeline were paid 9 out of 10 times in cash.

Cash is the most powerful currency in real estate and prices of luxury properties have reached fantastic heights.

GOLDEN POINTE TOWNHOUSE SELLS IN RECORD TIME!!

This beautiful, two story townhouse sold quickly which is a sign of the new market in South Florida.

Properties are hard to come by. This townhouse had everything….four bedrooms, updated kitchen, great view of the waterway and intracoastal.

If you are thinking of selling….NOW IS THE TIME.

More buyers are in the market than properties. Call me as soon as possible for a no obligation visit.

ARE WE HEADING FOR ANOTHER REAL ESTATE BUBBLE?

Three quarters of Americans say it is a good time to buy!

Home prices are rising at double digits!

Two out of five applicants for a purchase mortgage are rejected.

First time in three years Americans surveyed now expect home prices to increase.

According to Trulia website the rising prices in home sales is not the sign of another bubble.

Bubble Watch assesses the markets susceptibility to bubble conditions by comparing home prices with historical prices and incomes and rents.

Rents reflect how much people value housing. Incomes determine how much people can pay for housing. and increases aren’t sustainable if they get too high in relation to incomes.

According to those metrics, Trulia concluded that national home prices are actually 7% undervalued.

At the moment mortgage rates are low but they are edging up. They are now 3.57% but last month they were 3.54%.

These are important facts to know. If you want to buy…now is the best time. It will only become more expensive in the future.

REIMAGINING YOUR NEW KITCHEN

GORGEOUS WATERFRONT TOWNHOUSE FOR SALE IN GOLDEN POINTE, AVENTURA $625,000

This beautiful townhome on the harbor in the Waterways, is a rare opportunity to buy luxury at a very affordable price. This is the only waterfront home available at this time.
4 Bedrooms
3 Full Bathrooms
Custom Designed Kitchen
Formal Dining Room
2 Patios Facing the Harbor in the Waterways
Elevator
24 Hour Guard House

Call today to see this wonderful home 305 607 1943

SELLER’S MARKET EMERGING!

ACCORDING TO RIS MEDIA…JANUARY EXISITNG HOME SALES HOLD WITH STEADY PRICE GAINS. A SELLER’S MARKET IS DEVELOPING….

Total home sales including single family homes, townhomes, condos, co-ops, have increased 0.4%.

Buyer traffic is continuing to pickup. Seller traffic is steady. Buyer traffic is up 40% since a year ago.

Total housing inventory at the end of January fell 4.9 to 1.74 million existing homes available for sale nationwide.

Listed inventory is 25.3% below a year ago.

All this adds up to less product, more demand….therefore a seller’s market is coming.

This means a great deal to people who have been waiting to sell. Now is the time….prices are strong….sales will be swift.

If you have been thinking about selling….call me today….

FLORIDA FORECLOSURES CLIMB 12% IN JANUARY

For the 5th straight month, Florida has seen the highest foreclosure rate of any U.S. state. This was in a report by Realty Trac. One in every 300 Florida housing units was in some state of foreclosure…more than twice the national average.

One in every 300 Florida housing units was in some state of foreclosure which was more than twice the national average.

Florida cities accounted for six of the top ten metro foreclosure rates. These cities are Ocala with 223, Miami with 228, Orlando 241, Jacksonville 301 Tampa 307 and Lakeland 332.

MIAMI CONDO SALES SURGE 32%

The average sales price of condos in Miami rose 31.7% in November over last year at the this time. This was the 17th straight month of appreciation in condos according to a new report from the Miami Association Of Realtors.

“It appears the Miami real estate market will set another record in 2012 exceeding the sales levels at the height of the boom in 2005 and during the all time record in 2011.” said Chairman of the Board of the Miami Association of Realtors, Martha Pomares. “Considering the shortage of housing inventory available, it is remarkable that sales remain this strong.

This record demand coupled with extremely limited supply is driving strong and consistent price appreciation”.

ACCORDING TO THE REAL DEAL (on line publication)… Sales prices for existing homes and builder confidence has risen in recent months and sales of high end homes have exploded, year over year according to the date of the National Association of Realtors.

Sales of homes priced above 750K grew 50% from a year ago even as sales of the lowest end homes (which are largely distressed) fell 4%. The luxury market is experiencing a tremendous surge in sales.

MORE SALES NEWS….THIS TIME MIAMI BEACH

2550 BAY AVENUE ON SUNSET ISLAND #2 SOLD FOR 20M DOLLARS. THIS FOUR BEDROOM HOME WAS AMONG THE HIGHEST PRICED SALES IN 2012.

8 HOME REMODELING TIPS FOR THE NEW YEAR!

The new owners in my development in Aventura are completely gutting their homes and starting all over again with new walls, floors, ceilings…the works. It gave me an idea to look into how they and you can make this remodel more energy efficient and a healthier environment to live in.

8 TIPS TO MAKE YOUR REMODEL MORE ENERGY EFFCIENT AND YOUR HOME HEALTHIER

As long as you’re remodeling, why not cut your utility bill and make your home a bit healthier?

l. CHECK FOR WATER INTRUSION, CONDENSATION AND EXCESS MOISTURE BEFORE YOU BEGIN THE PROJECT. Fixing those issues during remodeling can improve your home’s indoor air quality (excess moisture encourages mold).

2. USE THE LEAST AMOUNT OF FRAMING ALLOWED BY YOUR BUILDING CODE WHEN ADDING WALLS. Not only will you have to pay for less lumber and fewer nails, the contractor will have more room to put insulation in your walls, making your home more energy efficient.

3. RESIST THE URGE TO SPLURGE ON MULTIPLE SHOWER HEADS Opt for a single low-flow shower head rather than installing a car wash-style plethora of shower heads.

4. IF POSSIBLE, ADD NEW hvac DUCTS TO PARTS OF YOUR HOME THAT ARE HEATED AND COOLED, rather than placing them in a space with unconditioned air (like the attic). If that’s not possible, insulate the ducts. Have an HVAC diagnostician analyze your system to make sure it’s sized correctly and balanced to properly exchange old and new air.

5. BE SURE TO INSULATE AROUND RECESSED LIGHTS THAT PROTRUDE INTO UN-INSULATED ATTIC SPACES…these are major sources of air leaks.

6. IF YOU’RE WASTING WATER, YOU’RE WASTING ENERGY. Look at high-efficiency or solar water heaters, and insulate your water pipes.If you want hot water faster, move the water heater closer to the faucet or install demand pumps to drive hot water to the fixture.

7. INSTALL WALL-MOUNTED EFFICIENCE TOGGLE SWITCH PLATES for the outlets where you plug in your televisions and computers to make it asy to cut off the power to electronics you’re not using.

8. A HUMIDISTAT THAT AUTOMATICALLY TURNS ON THE BATHROOM FAN when moisture rises beats depending on teen agers or tenants remembering to use the fan. Reducing bathroom moisture reduces the chances you’ll have mold.

When I pull the kitchen cabinets off the wall, I’m going to use caulk to seal between the wallboards and the floorboards before I put down new flooring and install the new cabinets. And since I’ll have the caulk out, I’m going to seal the top of window trim, something my home’s builder didn’t do.

What are your tops for smart energy savings during a remodel?

Hope these tips will help you when you remodel that beautiful home.

The above information is provided by HouseLogic.com Dona DeZube, Author

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the National Association Of Realtors.