Fort Lauderdale Real Estate Blog

Following the financial crisis in 2008 and 2009, the real estate market saw a bust in the amount of distresses homes for sale. Distressed homes are defined as bank foreclosures and short sales (pre-foreclosure). In 2009, distressed properties accounted for 32.4 percent of all sales, which is an astounding figure when compared to years past when this amount was only about 2 percent of real estate sales.

The jump in the number of distressed properties was caused by collapsing home values and sales prices usually consisted of large price discounts which in turn encouraged real estate investors eagerly looking to take advantage of real estate bargains. However, today’s home values for the most part have bounced back from the down market following the

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According to the Fannie Mae’s Economic and Strategic Research Group, the most recent forecast for the real estate housing and economic conditions show while there may be a concern on Wall Street because of economic volatility, there shouldn’t be any negative affect on growth in the economy or put any damper on the progress the housing market has achieved over the last 12 months.

In fact, Fannie Mae points out there has been an increase in consumer spending, increased full-time employment above its pre-recessions peak, and the average hourly earnings has increased, indicating the economy will sustain its current positive path for the rest of the year.

Fannie Mae’s housing market outlook remains mostly unaffected by the recent findings. Doug Duncan,

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As shoppers begin the buying process of looking at homes for sale and condos for sale, most prospective homebuyers have a long list of features they must have, whether it be an open floor plan, or large family room, etc. However, along with the list of must haves, most buyers also have an equally long list of things they do not want or want to avoid in their new home.

Even with all the careful planning and consideration beforehand, once a new buyer has found a home, purchased it and moved in, there will always be a few items they didn’t realize were necessary and some issues that never crossed their minds when they were looking at properties. To avoid this happening, potential buyers can learn a great deal from what current homeowners dislike about

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The National Association of Realtors® Pending Home Sales Index looks at the total number of executed contracts to buy homes for sale and condos for sale each month. Because the study looks at signed contracts and not actual closings, the findings are a reliable measurement to forecast future home sales.

In August of this year, the index was down 1.4 percent. However, despite the drop, the index continues to remain 6.1 percent higher that last year’s level and has now increased above year-before levels for twelve consecutive months. NAR’s® chief economist, Lawrence Yun, said that demand to purchase is still ahead of the supply of inventory which will continue to put upward pressure on housing prices.

Mr Yun added, “Pending sales have leveled off

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The most recent Mortgage Bankers Association Weekly Applications Survey indicated mortgage demand for purchases is now 20 percent above the same time period last year. Increased demand for mortgage applications signals that many Americans are serious about buying a home for sale or condominium for sale and have started the mortgage process.

However, despite the improvement as compared to last year, the survey also revealed that overall demand for mortgages has decreased when compared to the pervious week. Demand for refinancing decreased by 8 percent and demand for purchases was down by 6 percent. The drop in activity follows a recent boost and is present during a week when the average rates for mortgages dropped.

Per the report, the average

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Sales for new construction homes for sale and condominiums for sale were up 5.7 percent in August per newly released figures by the US Census Bureau and the Department of Housing and Urban Development (HUD). The positive growth marks the fastest pace for sale in 7 years and puts sales for new construction 21.6 percent last year’s figures.

The rebound is uplifting news considering sales were down in June. In the August report, estimates for sales in July were revised upward after initially being reported as a 5.4 percent increase, which surpassed economist’s predictions for the month.

Sales for new construction homes are an important signal indicating a healthy real estate market and the overall condition of the economy. Stronger sales signal a

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Equity in a home refers to the value of the property subtracting out the debt (mortgage amount). When the value of your home is worth more than what you paid for it, you have positive equity. CoreLogic’s Second quarter equity report shows positive and encouraging news for home-buyers looking to purchase as well as existing homeowners.

Per the equity report, 759,000 residential properties recovered equity in the 2nd quarter, increasing the number of home mortgages that are now less than their property’s value to almost 46 million, or 91 percent of properties with a mortgage. This is a huge correction since following the housing bubble, when millions of homeowners were suddenly faced with negative equity, when their homes lost significant value.


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The latest Mortgage Bankers Association’s Weekly Application Survey shows the average 30-year fixed rate mortgage and FHA loans for purchases of homes for sale and condos for sale remain unchanged last week as compared to the week before. Jumbo loans and 15-year fixed mortgages both dropped during a volatile week where the Federal Reserve decided against raising rates.

Mike Fratantoni, MBA’s chief economist said, “We saw significant rate volatility last week surrounding the FOMC meeting, and rate declines toward the end of the week likely drove applications from both prospective home buyers and borrowers looking to refinance.”

He went on to say, “The 30-year fixed-rate remained unchanged over the week even though there was substantial intra-week

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The National Association of Realtors® released a new report showing existing home sales have stalled in August as compared to the month before. Sales for single-family homes for sale, townhouses, condos for sale, and co-operatives (co-ops) dropped 4.8 percent from July. However, sales are still 6.2 percent higher than same period last year.

Lawrence Yun, NAR’s chief economist explained, “Sales activity was down in many parts of the country last month – especially the South and West – as the persistent summer theme of tight inventory levels likely deterred some buyers,” He continued, “The good news for the housing market is that price appreciation the last two months has started to moderate from the unhealthier rate of growth seen earlier this year.”

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When looking forward into coming months forecasting the strength of the new housing real estate market, home builders and developers typically have a good pulse on that market and therefore, their insight is solicited monthly by the National Association Of Home Builders.

This study has been conducted for 30 years and surveys buildings and developers what they are seeing in the market place and asks their input on rating traffic from potential buyers looking at homes for sale and condos for sale, current sales conditions, and their expectations over the coming six months. The NAHB’s Housing Market Index rose another point in September and reached a pinnacle level not hit since October 2005.

The index which is measured on a scale where any result over

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