You've heard the old saying - "Location, location, location."
The real truth is "Location, condition, and price." And price trumps every other factor.
Location affects the value of a home, but it's price that sells a home.
Oceanfront, mountainside, or penthouse, the most desirable location in the world won't sell at the wrong price.
Every property has a potential buyer, but like rock, paper, scissors, it's sometimes hard to know which factor is going to win the showdown.
A good location will sell at a fair price. A bad location will sell at a
fair price, too. It just won't be as a high as it would be for a good
location.
A home in good condition will sell for a fair price. A
home in poor condition will also sell at a fair price. Again, it won't
be as high as a comparable home in better condition.
But neither location or condition will sell any house. Only one thing does that - price.
Friday, January 24, 2014
Wednesday, October 16, 2013
Upper Florida Keys Real Estate results Sept. 2013 compared to Sept 2012 and more.
|
Thursday, May 30, 2013
Investors expecting a widespread housing recovery
Investors betting on a widespread housing recovery
The recovery is in “the very early innings,” Russell Croft, a portfolio manager at Croft Leominster Inc., told The Wall Street Journal. “[I’m trying] to find the secondary or tertiary stocks that might be influenced by housing.”
Following a run-up in shares of homebuilder stocks – like Lennar, KB Home and Toll Brothers – investors are now diversifying, looking at such companies like appliance maker Whirlpool (which has surged more than 170 percent since the end of 2011) and Ford Motor Co. for pickup trucks. Investors are looking for anything housing-related, including companies that manufacture related items from roofing and floorboards to drywall and faucets.
Home improvement retailers Lowe’s and Home Depot have each soared by about 60 percent over the last 12 months.
With home prices still below about 28 percent from their 2006 peak, investors are seeing plenty of opportunity ahead for the housing market.
“The housing market is one of the best investible themes out there for 2013 and for 2014 as well,” says analyst Kevin O’Keefe with Brown Advisory, which oversees $33 billion in assets
Saturday, May 11, 2013
Fla.'s housing market shows momentum in 1Q 2013
|
|
|
Wednesday, April 17, 2013
Big Predictions for Housing for Next 2 Years-Florida Keys statistics December 2012 through February 2013
Big Predictions for Housing for Next 2 Years
Daily Real Estate News | Friday, March 29, 2013
Home sales are projected to post
some big gains in the next two years, according to Fannie Mae's latest monthly
economic outlook.
Fannie Mae economists predict
that existing-home sales will rise by 10.5 percent this year, and by 6.2 percent
in 2014. The economists made even bolder projections for new single-family home
sales -- growing 15.1 percent this year and 44.1 percent in 2014.
"We expect home prices to firm
further amid a durable housing recovery, continuing to boost household net
worth, gradually diminishing the population of underwater borrowers, and
reducing incentive for strategic defaults," according to Fannie Mae's
report.
Fannie Mae projects that mortgage
rates will stay low by historical averages this year, but the 30-year fixed-rate
mortgage will rise from an average of 3.5 percent during the first quarter to an
average of 4 percent during the final three months of 2013. During the fourth
quarter of 2014, mortgage rates are projected to tick up to a 4.5 percent
average.
Mortgage applications for
purchases are projected to increase by 16.8 percent this year and by 17.1
percent in 2014. However, a decline in applications for refinancings will likely
cause mortgage originations to be down 14.5 percent this year and by 31.4
percent in 2014, Fannie economists predict.
.
Rate on 30-year mortgage falls to
3.43% --April 11, 2013
Rate fell sharply and are close
to record-low hit last fall, but not a single expert polled by Bankrate.com this
week predicts further drops soon
|
Florida Keys statistics
December 2012 through February 2013
Single Family
Homes
Closed sales + 15.2% over prior
year
Pending sales + 44% over prior
year
Inventory down 19.3% over prior
year
Condo/townhomes
Closed sales -30% but up +14.3%
for February
Pending sales +20% over prior
year
Inventory down 8.3% over prior
year
|
Friday, February 22, 2013
Florida’s housing market continues upswing in Jan. 2013
Good information regarding the Florida real estate market. You can go to my web site www.robskeel.com for Florida Keys info and listings or just contact me at 305-393-6300 or rob@robskeel.com, I am here to assist you.
“This year started out strong for Florida’s housing market,” said 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “Homes sales continue to rise, mortgage rates remain near historic lows and the inventory of for-sale homes is lower than it’s been in years. Plus, the time it takes for a home to sell is dropping; the median days a home is on the market declined about 15 percent for both single-family homes and for townhome-condo properties. However, overly restrictive credit requirements remain an obstacle for many potential buyers, who find it difficult to access affordable financing options.”
Statewide closed sales of existing single-family homes totaled 13,679 in January, up 11.7 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 31 percent over the previous January. The statewide median sales price for single-family existing homes last month was $145,000, up 12.4 percent from the previous year.
Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 6,670 units sold statewide last month, up 2 percent compared to January 2012. Meanwhile, pending sales for townhouse-condos in January increased 17 percent compared to the year-ago figure. The statewide median for townhouse-condo properties was $112,000, up 18 percent over the previous year. NAR reported that the national median existing condo price in December 2012 was $184,100.
This is the 13th month in a row that statewide median sales prices for both single-family homes and for townhouse-condo units have increased year-over-year, according to Florida Realtors’ data.
“I’m particularly impressed with the rise in percentage of list price received by sellers,” said Florida Realtors Chief Economist Dr. John Tuccillo, referring to the January data. Sellers of single-family existing homes in January received an average of 92.2 percent of their original list price; sellers of townhome-condo units received an average of 93 percent.
© 2013 Florida Realtors®
Friday, December 21, 2012
Fla.’s housing market continues upswing in November
Florida's real estate market continues to show positive signs so if your thinking of purchasing your dream home in the Florida Keys it is a great time to do it. Please contact me and I will help you find just the right place. If you need assistance with selling your property I can help you with that too.
www.robskeel.com
ORLANDO, Fla. – Dec. 20, 2012 – Closed sales, pending sales, median prices and average prices rose in Florida’s housing market in November, while the inventory of homes and condos for sale shrunk, according to the latest housing data released by Florida Realtors®.
“The sizzle is back,” said 2012 Florida Realtors President Summer Greene, describing the state of Florida’s real estate market. “With home sales strongly trending up and the supply of homes for sale drying up, the market is hot. And we expect these trends tocontinue into 2013 with
the jobs market
improving, low mortgage rates continuing and consumer confidence getting
stronger.” Greene is regional manager of Better Homes and Gardens Real Estate
Florida 1st in Fort Lauderdale.
Statewide closed sales of existing single-family homes totaled 17,072 in November, up 24.4 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 45.8 percent over the previous November. The statewide median sales price for single-family existing homes in November was $150,000, up 11.2 percent from a year ago.
According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in October 2012 was $178,700, up 10.9 percent from the previous year. In California, the statewide median sales price for single-family existing homes in October was $341,370; in Massachusetts, it was $287,000; in Maryland, it was $239,802; and in New York, it was $209,000.
The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and otherdistressed
properties continue to downwardly distort the median price because
they generally sell at a discount relative to traditional homes.
Looking at Florida’s year-to-year comparison for sales of townhome-condos, a total of 8,079 units sold statewide last month, up 18.3 percent compared to November 2011. Meanwhile, pending sales for townhome-condos in November increased 30 percent compared to the year-ago figure. The statewide median for townhome-condo properties was $112,000, up 23.1 percent over the previous year. NAR reported that the national median existing condo price in October 2012 was $177,500.
The inventory for single-family homes stood at a 5.1-months’ supply in November; inventory for townhome-condo properties was at a 5.3 months’ supply, according to Florida Realtors. Industry analysts note that a 5.5-months’ supply symbolically represents a market balanced between buyers and sellers.
“Particularly striking in this market is the degree to which prices have risen,” said Florida Realtors Chief Economist Dr. John Tuccillo. “This might be expected to be the case for median prices as investors absorb the inventory at the lower end of the market, but average prices are up dramatically as well – and that suggests we’re seeing real appreciation occur in the marketplace, another sign of how solid Florida’s real estate recovery has become.”
The interest rate for a 30-year fixed-rate mortgage averaged 3.35 percent in November 2012, down from the 3.99 percent averaged during the same month a year earlier, according to Freddie Mac.
To see the full statewide housing activity report, go to Florida Realtors website and click on the Research page; then look under Latest Housing Data, Statewide Residential Activity and get the November report. Or go to Florida Realtors Media Center (http://media.floridarealtors.org/ and download the November 2012 data report PDF under Market Data.
© 2012 Florida Realtors®
www.robskeel.com
ORLANDO, Fla. – Dec. 20, 2012 – Closed sales, pending sales, median prices and average prices rose in Florida’s housing market in November, while the inventory of homes and condos for sale shrunk, according to the latest housing data released by Florida Realtors®.
“The sizzle is back,” said 2012 Florida Realtors President Summer Greene, describing the state of Florida’s real estate market. “With home sales strongly trending up and the supply of homes for sale drying up, the market is hot. And we expect these trends to
Statewide closed sales of existing single-family homes totaled 17,072 in November, up 24.4 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 45.8 percent over the previous November. The statewide median sales price for single-family existing homes in November was $150,000, up 11.2 percent from a year ago.
According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in October 2012 was $178,700, up 10.9 percent from the previous year. In California, the statewide median sales price for single-family existing homes in October was $341,370; in Massachusetts, it was $287,000; in Maryland, it was $239,802; and in New York, it was $209,000.
The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other
Looking at Florida’s year-to-year comparison for sales of townhome-condos, a total of 8,079 units sold statewide last month, up 18.3 percent compared to November 2011. Meanwhile, pending sales for townhome-condos in November increased 30 percent compared to the year-ago figure. The statewide median for townhome-condo properties was $112,000, up 23.1 percent over the previous year. NAR reported that the national median existing condo price in October 2012 was $177,500.
The inventory for single-family homes stood at a 5.1-months’ supply in November; inventory for townhome-condo properties was at a 5.3 months’ supply, according to Florida Realtors. Industry analysts note that a 5.5-months’ supply symbolically represents a market balanced between buyers and sellers.
“Particularly striking in this market is the degree to which prices have risen,” said Florida Realtors Chief Economist Dr. John Tuccillo. “This might be expected to be the case for median prices as investors absorb the inventory at the lower end of the market, but average prices are up dramatically as well – and that suggests we’re seeing real appreciation occur in the marketplace, another sign of how solid Florida’s real estate recovery has become.”
The interest rate for a 30-year fixed-rate mortgage averaged 3.35 percent in November 2012, down from the 3.99 percent averaged during the same month a year earlier, according to Freddie Mac.
To see the full statewide housing activity report, go to Florida Realtors website and click on the Research page; then look under Latest Housing Data, Statewide Residential Activity and get the November report. Or go to Florida Realtors Media Center (http://media.floridarealtors.org/ and download the November 2012 data report PDF under Market Data.
© 2012 Florida Realtors®
Subscribe to:
Posts (Atom)