About The Broker






Featured Listings

Local Market Statistics

real-time real estate market research



Virtual Tour Inventory WidgetGet Adobe Flash Player

__________________


eNewsletter Sign Up



Mortgage Calculator


Local Resources

Categories

Archives

Top 5 Reasons to Buy a Home

Top 5 Reasons to Buy a HomeTop 5

1. Housing Affordability Still at Record High Levels

Each month the National Association of Realtors issues its “Housing Affordability Index,” which measures the ability of the average family, in a particular geographical area, to afford the average priced home for that area.  In February 2012 the national affordability index was 206.6.  This means that if a family with the median income of $60,974 wanted to purchase a median-priced existing singlefamily home at $157,100 (with a 20% down payment of $31,420), they would have 206.6% of the qualifying income needed to purchase that home.

2. Interest Rates Are at Historic Lows

It’s still a great time to take advantage of historically low interest rates.

3. Tax Advantages of Homeownership

Whether you’re a first-time buyer, up-sizing, or down-sizing, most homeowners qualify for tax breaks annually.  Please consult a tax advisor.

  • Interest paid on a home mortgage maybe tax deductible (up to the value of the primary residence)
  • Property taxes are typically deductible for most homeowners

Plus, for most homeowners, there are no capital gains taxes when a primary residence is sold.  Please consult a tax advisor.

4. Inventory of short sale Real Estate Owned (REO) properties

Also called lender-mediated, lender-owned, or non-traditional, these properties may appeal to bargain hunters looking for that hidden gem.

5. Inventory of homes overall is at an 6.4-month supply nationally. It is a buyer’s market!

More than 6 months of housing inventory indicates that it’s a buyer’s market, where traditionally buyers enjoy more choices and more bargaining power.

Regional differences in housing affordability from February 2011 to February 2012

Housing Affordability by Region

Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

What’s Happening in Florida’s Housing Market?

What’s Happening in Florida’s Housing Market?

In this Market Minute, Florida Realtors® Chief Economist Dr. John Tuccillo updates you on the state’s latest housing statistics and provides insight into what the numbers really mean.

I hope you find this information useful.  Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

Real Estate Bidding Wars Are Back

Real Estate Bidding Wars Are Back

Pending-home sales in March hit their highest level since April 2010, spurring the return of real-estate bidding wars. Nick Timiraos reports on The News Hub.

Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

How’s The Real Estate Market?

The Latest Real Estate Market Data

Stat Table – Condos/Townhomes in Aventura, FL  33180

Stat Table – Single Family Homes in Aventura, FL  33180

If you would like the latest data for your area delivered to your e-mail then click here to subscribe to my Real-Time Market Report.  It’s free!

For more information contact me at (305) 329-4929 or solovay.m@ewm.com.



Written by Michael Solovay | Discussion: No Comments »

Real Estate Market Report – Aventura Single Family Homes

Aventura, FL  33180 – Single Family Homes as of 7/03/09

Real Estate Market Report

This Week

The median single family home price in Aventura 33180 this week is $497,450.  Inventory has been tightening and days-on-market increasing recently.  The Market Action Index (MAI) has been basically flat.

Price

Again this week we see a downward notch for prices.  Pricing has been weak in recent weeks and versus their absolute-high level.  We will be looking for a persistent upward ship in the MAI as a leading indicator for a trough in prices.

Price and Value

The market’s downward trends are shared across both price and value.  People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence).  Look for significant changes in the MAI as a precursor to price and value changes.

Inventory

Inventory has been falling in recent weeks with 60 properties available this week.

Market Action Index

Aventura 33180 is quite strongly in the Buyer’s Market zone.  The 90-day MAI stands at 15.

Days On Market

The properties have been on the market for an average of 262 days.  Half of the listings have come newly on the market in the past 231 or so days.  Watch the 90-day DOM trend for signals of a changing market.

The Real Estate Market Report is posted on a weekly basis.  Look for updates in the coming weeks.  For more information contact me at (305) 329-4929 or solovay.m@ewm.com

Written by Michael Solovay | Discussion: 3 Comments »

Copyright © 2008 Whats The Point of Aventura?     Log in     Design by Real Estate Tomato     Powered by Tomato Blogs



Michael Solovay on Zillow