Fort Lauderdale Real Estate Blog

We've just listed a 3 bedroom 2 bath condo in Vizcaya Gardens at Palm Aire. High vaulted ceilings with an open and very spacious floor plan. Lots of windows allow for plenty of natural sunlight. A split bedroom plan and all bedrooms lead out to a screened in balconies. A well designed chef kitchen with adjoining dining and living areas are perfect for entertaining. A large lanai off master and living areas overlooking a peaceful natural setting. Vizcaya is a gated community inside Palm Aire. For more information, call me today at 954.850.2397.

photo of condo in Vizcaya Gardens at Palm Aire

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photo of dollar signAs many of our real estate transactions are with foreign customers, I wanted to make you aware of recent Changes to FIRPTA.

Changes to the Foreign Investment in Real Property Act (FIRPTA) will take effect beginning February 16, 2016.  Foreign nationals selling real estate property in the United States will see withholdings of 15% of sale proceeds (instead of 10%), if the amount realized (typically the selling price) exceeds 1 Million Dollars.

For Sales under 1 Million Dollars and over $300,000, AND the buyer will occupy the property as a residence, the withholding remains at 10 percent. For Sales under $300,000 AND the buyer will occupy the property as a residence, no funds need to be withheld.

These new changes were signed into law at the end of

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According to a recently released report from Freddie Mac; the December Insight & Outlook, which focuses on the strength of the housing markets’s recovery and what expectations are for the coming year, findings show the overall economy has significantly recovered from the financial crash.

With declines in unemployment figures, stable growth in the economy and a bolstering housing market, both the overall economy and residential real estate market have achieved significant gains and the forecast into 2016 looks very promising. However, the report also warns that these very same economic gains could also start to create trouble for possible home buyers looking to buy homes for sale and condos for sale, as ascending mortgage rates and rising home prices

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According to the latest Fannie Mae quarterly Mortgage Lender Sentiment Survey which asks mortgage professionals to forecast their predictions for the coming months, predictions are that credit standards will continue to soften, which is good news for prospective buyers looking to buy a home for sale or condo for sale in the near future.

Fannie Mae’s senior vice president and chief economist, Doug Duncan believes more credit available should assist buyers who have been affected by negative affordability conditions. Mr. Duncan said, “Several factors point to constrained housing affordability in 2016, particularly for first-time home buyers, including slow single-family supply response and limited inventory of starter homes on the market, strong

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When it comes to purchasing a home for sale or condo for sale, one of the largest obstacles for many potential home-buyers; particularly younger buyers, is whether or not they have enough money in their savings for a sufficient down payment.Younger buyers in most cases have just started working, are saddled with student debt and haven’t had time to build up a nest egg.

A recent study conducted by Hanley Wood Data Studio looked at median household incomes as well as median home prices to see how long certain age groups may have to wait before they’ve saved enough money for at least a 10 percent downpayment on a purchase.

According to the study, as expected, 18-24 year olds will have to wait the longest. This age group on average should expect to wait

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As the 2015 year ends, the overall picture for real estate across the country is very positive. With improved job numbers and mortgage rates still at fairly low levels, home sales have driven the best results in the real estate market since the recovery began. Usually, during the last few months of the year as most of the country faces the winter weather, real estate activity tends to slow down. However, that is not the case for this year.

Findings from the US Department of Housing and Urban Development (HUD®) most recent scorecard which monitors key market data and recovery efforts, real estate activity had continued strong into October. According to the report, there was a 10.7 percent rise in sales for new construction homes sold in October combined

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For the last 7 years, the Federal Reserve has kept interest rates low to spur business and consumer borrowing and risk taking. However, with reports showing the economy has gained strength and recovered, rumor has it the Fed will begin to raise rates.

Janet L Yellen, Federal Reserve chairwoman has hinted that a decision on raising rates may happen this week when the Fed’s policy-making committee meets. Yellen recently talked about raising rates would be “a testament, also, of how far our economy has come in recovering from he effects of the financial crisis and the Great Recession.”

The latest economic data, including a favorable jobs report in November, make it almost certain for the decision. The findings in the report show 211,000 jobs were added

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Recent findings from Freddie Mac’s Multi-Indicator Market Index show over the last twelve months, states and metropolitan areas who’s real estate markets have regained their stable activity range has doubled. The MiMi looks at real estate markets across the country and measures houses for sale and condos for sale in these markets against their long-term average to understand how quickly these markets have bounced back.

The study shows the national real estate housing market is reaching the outer limits of stable activity, however, it is still significantly lower than it’s highest level. Freddie Mac’s deputy chief economist, Len Kiefer says markets in general are coasting at their own individual pace. He said, “When we observe MiMi's annual improvement,

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In a recent survey conducted by the National Association of Realtors® (NAR) of it’s Realtor® members asking their perception of the overall real estate market, buyer and seller interest, real estate prices, and sales for existing homes for sale and condos for sale.

Respondents indicated interest from buyers has been medium to strong across most of the country. With an exception in the Northeast region, only a few states reported interest was weak. On the other hand, in the state of Oregon, Realtors reported buyer interest was exceptionally strong.

The study reports that “sustained job creation, low interest rates, three percent down-payment loans and lower mortgage insurance premiums for FHA loans are spurring continued buyer demand for purchases.

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