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Home Sales Flirting with New Records in Miami-Dade

Home sales flirting with new records in Miami-Dade

Some key real estate records are finally falling again in South Florida.

Prices remain about 40 percent below peaks set in 2006 and about a third of all homes carry loans larger than what they’re worth, but sales have moved very close to new record levels.

Home sales back to boom records levels

This chart tracks a 12-month average of sales of existing single-family homes in Miami-Dade County, as reported by the Miami Association of Realtors. The current monthly average of 1,052 homes per month is just 4 percent below the past peak of 1,093 homes set in June 2004.

To appreciate just how strong of a comeback that represents, consider that in July 2008, the monthly average hit just 330 homes. That was a 70 percent plunge — a depressed market in crisis by any measure.

While the overall sales level remains just below peak, some months have already set new records. In 2013, February, May and July all posted record sales. The August numbers are set to be released Sept. 19.

Read more here: http://www.miamiherald.com/2013/09/04/3605396/home-sales-flirting-with-new-records.html#storylink=cpy

I hope you find this information useful. I’m here to assist you with all your South Florida real estate. Contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 4 Comments »

Six Ways a Home May Turn Off Buyers

Six Ways a Home May Turn Off Buyers

Bankrate.com recently featured a list of the top ways buyers back away from a home listed for sale. Its list includes these items, among others:

1. Dirt: “The No. 1 biggest mistake is not getting the home in the best possible condition. That’s huge,” says Chad Goldwasser of Goldwasser Real Estate in Austin, Texas. “I won’t even represent sellers at this point unless they are fully aware of how important it is to get their home in the absolute best condition that they’ve ever had it in.” Goldwasser suggests also steam-cleaning tile and grout and carpets and replacing carpets if necessary.

2. Odors: “Odors are a big one, especially kitchen odors,” says Julie Dana, co-author of The Complete Idiot’s Guide to Staging Your Home to Sell. “I advise my clients not to cook fried food, fish, or greasy food while the house is on the market. … Interestingly, next to the kitchen, the smelliest room in the house is actually the living room. That’s typically the room that has the most fabric, so that is where odors get absorbed.” She recommends having curtains and upholstery cleaned, particularly if someone in the home is a smoker, and taking steps to eliminate any pet odors.

3. Old fixtures: “You need to change out old fixtures in your house,” Goldwasser says, adding outdated ceiling fans and light fixtures should be replaced prior to listing a home. “New cabinet hardware and doorknobs will probably cost all of $400 or $500, but it makes a huge difference.”

4. Wallpaper: When buyers see wallpaper, they think of another thing to add to their to-do list, says Dana. “Wallpaper is extremely personalized. You’ve spent hours looking over books to pick out the wallpaper you want,” she says. “What are the odds that the person walking in the door will also like that wallpaper that you picked out?”

5. Popcorn acoustic ceilings: These ceiling were popular in the 1960s and 1970s but now can date a home. Still, it can be a mess and costly to remove, so real estate professionals say sellers may need to be prepared to credit a buyer in certain markets if they decide to keep the popcorn ceiling when selling a home.

6. Too many personal items: Cluttered homes make it difficult for buyers to see past the home owner’s belongings and start envisioning themselves there. “Anything that makes your house scream ‘you’ is what you don’t want,” Dana says. “I tell all my clients that how we decorate to live and how we decorate to sell are different, and right now, we’re decorating to sell.”

Source: “10 Ways to Turn Off a Would-Be Homebuyer,” Bankrate.com (June 10, 2013)

I hope you find this information useful. I’m here to assist you with all your South Florida real estate. Contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 9 Comments »

Real Estate Tips For Home Buyers and Sellers

Real Estate Tips For Home Buyers and Sellers

Barbara Corcoran, real estate mogul and founder of The Corcoran Group gives advice to future and current homeowners.

When you become a buyer or seller the most important thing you can do is learn your market. Talk to a savvy local agent, and don’t make assumptions based on what you think you know. Real estate is local and every market is different with its own customs. If you believe there are general rules for real estate strategy that apply everywhere, you’ll likely be fooled.

I’m available to assist you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 5 Comments »

Rising Miami Home Prices, Inventory Shortage Create Opportunity for Sellers

Rising Miami Home Prices, Inventory Shortage Create Opportunity for SellersHousing Prices

Submitted by Lynda Fernandez

Miami, FL – Miami home prices rose again in September, marking 10 consecutive months of appreciation, according to the 26,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. The median sales price of Miami-Dade condominiums, which has increased each of the last 15 months, rose 36.2 percent to $150,000 compared to a year earlier. The median sales price of single-family homes rose 8.6 percent to $190,000.

“The Miami real estate market continues to strengthen despite the shortage of housing inventory,” said 2012 Chairman of the Board of the MIAMI Association of REALTORS Martha Pomares. “We’ve seen nearly an entire year of significant monthly price increases, which makes now a great time to sell a home. Miami properties sell very quickly and draw multiple offers when priced right.”

In September the average sales price for condominiums in Miami-Dade County increased 30.2 percent to $277,774. The average sales price for single-family homes decreased 6.1 percent to $315,521.

Florida Statewide Home Prices

Statewide median sales prices in September increased 7.4 percent to $145,000 for single-family homes and 18.8 percent to $105,376 for condominiums, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. The national median existing-home price for all housing types was $183,900 in September, an 11.3 percent increase from September 2011, according to the National Association of Realtors (NAR).

Miami Home Sales Rise Again in September

Total residential sales in Miami-Dade County Read the rest of this entry »

Written by Michael Solovay | Discussion: 1 Comment »

REAL Trends Housing Market Report

REAL Trends Housing Market Report – August 2012

The REAL Trends Housing Market Report presents regional and national trends in the residential real estate market.  This latest report was released September 24, 2012.

The housing market continues to gain strength for the 12th consecutive month in August.  In the South, the sale of new and existing home units was up 13.1% while prices increased by 4.8%, compared to a year ago.

[youtube]http://www.youtube.com/watch?v=TE5N2fe44_o[/youtube]

I hope this information is useful to you.  Contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 1 Comment »

Feeling Stressed about Your Real Estate Transaction?

Feeling Stressed about Your Real Estate Transaction? Simple Tips to Let Go of the Negative Energy

By Keith LoriaStress

Selling a home, especially in today’s housing market, can be one of the most stressful experiences of your life. The process is uncertain, unsettling and time-consuming, not to mention expensive.

That’s why it’s important to take care of yourself and try to relax when you can. Treat yourself to a special day away and put your home selling worries behind you for at least a few hours.

“I have seen many clients who look to me to take those cares away and massage can be a great stress reliever,” says Carrie Nash, a massage therapist operating in the D.C. area. “You can relax, let your mind wander and be soothed by the music as you let go of all the negative energy that surrounds the process of selling a home.”

Women can also take up yoga, do palates, get a facial, do their nails or indulge in any number of spa treatments.

For men, a round of golf is always a good stress reliever. Or they may want to enjoy a night out with their buddies, a game of cards or a trip to the bowling alley. Men can also take advantage of some spa treatments as well.

Couples should arrange a nice dinner, get together with old friends or even take in a play or comedy performance. Just remember not to let the conversation steer toward the house.

If you have kids, it’s important to understand that a home sale is tough on them, too. Plan a trip to a local amusement park or ballgame and take the time to enjoy being together as a family.

If you find yourself getting stressed out while in the middle of trying to negotiate Read the rest of this entry »

Written by Michael Solovay | Discussion: No Comments »

Why Is Location So Important When Buying a Home?

Why Is Location So Important When Buying a Home?Location Location Location

A: Location remains the single most important factor when choosing a home. It can make or break the value and desirability of a home.

Because everyone’s preferences vary, your lifestyle will determine the best place for you to live. Some people prefer the suburbs while others thrive on downtown living. If you favor city living, find out what part of the city suits you best – a fast-paced neighborhood or one slightly more subdued. Talk with the neighbors and keenly observe such things as traffic patterns, lifestyles, and even sounds and smells.

When choosing a town, take property taxes, schools, accessibility to work, services, recreation, and the character of the community into consideration.

I hope this information is useful to you. Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

How Much Is Your Home Worth?

How Much Is Your Home Worth?

An accurate assessment of your home’s value is an important first step in selling your house quickly and for a fair price.

There are several ways to determine your home’s value:

  • Comparative Market Analysis
  • Appraisal


Contact  me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

When Is A Good Time To Buy A Home?

When Is A Good Time To Buy A Home?

Realtor:  Maya Paveza

When you’re ready to buy is the right time to buy.

Contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

South Florida Home Prices On The Rise

South Florida Home Prices On The Rise

Home values in Palm Beach, Broward and Miami-Dade counties inched up 0.2% from November, according to the Standard & Poor’s/Case-Shiller home price index.  In the rest of the nation home prices in 2011 ended on a downer.  In South Florida, the number of homes for sale has declined sharply over the past year.

Case-Shiller’s “Miami” real estate index was one of only two to increase between November and December.  While still down about 3% from a year ago, the December yearly decline was the lowest for 2011.

Case Shiller South Florida

The monthly gain for December was up a measly . 2%.  But, out of the 20 metropolitan areas tracked by Case-Shiller, only Phoenix joined Miami in showing an increase in December.

Competition among buyers is heating up which is helping to stabilize prices in some areas.  Case-Shiller is one of the most respected measures of home prices because it tracks the price of the same house over time.

Let me assist you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

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