Let's Get REAL Estate

Hi all!

Yes, our July numbers were out and they were encouraging! Even though our single family home prices remained flat, the number of sales jumped 12%. What we are seeing is the clearing out of the foreclosed and distressed home sales. New listings of all kinds have been very slow to hit the market which has contributed to our record low inventory rates. The number of foreclosures is way down and I believe we will see some upward pressure on pricing to finally take hold until lenders begin releasing their "shadow" inventory of foreclosures.

Condos in Florida saw a similar jump of 12% in the number of sales and a year over year price INCREASE of 4%. Similar reasons...low inventory and lots of investors!

Just a reminder...if you do see a property that interests you...DON'T WAIT thinking you have lots of time. That is NOT the reality here in South Florida (no matter what the media may try to force down your throat). Well priced property is not on the market long...so it may be time to GET OFF THE FENCE! Your Realtor (hopefully us) can help you determine a well priced property and help you navigate this crazy market! Until next time...Happy Hunting!