Florida Market Analysis

Sales of existing homes in Florida rose 18 percent in May

admin — Wed, 23 Jun 2010 14:22:13 +0000

Sales of existing homes in Florida rose 18 percent in May, marking 21 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

Multiple offers will equal rising values

admin — Sat, 10 Apr 2010 02:46:06 +0000

For several months we have dealt with multiple offers on the newest bank owned home to hit the market. Today I spoke with one of my agents who commented that their buyers have lost out on two traditional homes, both accepting offers higher than list price.

I define a traditional home as one not subject to a short sale or an REO. Multiple offers on traditional listings are an encouraging sign.

Multiple offers will eventually equal rising prices across the board. This will not happen overnight, however as the number of listings decrease; well priced short sale, REO and traditional homes will continue to receive multiple offers.

The speed of increase in home values will vary from area to area.

Median sales price of a home in Florida falls in February

admin — Sun, 28 Mar 2010 17:55:21 +0000

The median sales price of a home in Florida was down 7% in February compared to the same time last year. February’s median sales price according to the National Association of REALTORS was $131,300.

This is no big surprise as bank owned and short sale listings continue to adjust the market value of homes throughout Florida. Traditional home sellers must compete with the distressed list prices of foreclosure and pre-foreclosure property.

Initial Listing Price Important for Sales Success

admin — Sun, 03 Jan 2010 15:02:38 +0000

When you list your home for sale the initial listing price you choose is extremely important for a successful sale. Your homes list price is always an important key to selling however there are times when a real estate markets allows the seller the room to ‘list a little higher’ or ‘test the market’, perhaps listing at 5-10% above the suggested list price. This is not the case with the current Florida real estate market.

Not only is aggressively pricing your home at the onset of the listing period crucial, constant monitoring of the market trends is a must if a seller wishes to compete with the competition. The competition in most areas of Florida right now are REO and short sales. Short sale listings make up a huge portion of the listing inventory. These home are priced to receive an offer quickly in order to have a contract to submit to the lender for approval. Your home is competing against short sales for the limited number of home buyers in the market place today.

2010 should see an increase in home sales in many areas of Florida. If you want your home to be one of those that sale this year, price it aggressively at the start.

Finding non-distressed sales to use in market analysis no easy task

admin — Fri, 01 Jan 2010 15:51:57 +0000

When called to prepare a market analysis for a home owner who is not facing foreclosure or in a short sale situation the task has been made difficult by the number of distressed sales throughout the majority of the Florida market place.

Traditional sellers have maintained the condition of their homes better than distressed home owners in most cases. Non-distressed sellers can offer buyer incentives that distressed sellers cannot. Regular sellers can allow for inspections and are willing to make repairs as needed when required. However even with these enhancements the non-distressed seller is finding their home value affected by the comparable sales consisting largely of distressed property.

Hopefully 2010 will see the beginning of stabilizing home values and more traditional homes selling to offset the past 2-3 years.

Florida’s existing home sales rose in August

admin — Sat, 26 Sep 2009 23:05:04 +0000

Florida’s existing home sales rose in August – marking a full calendar year (12 months) that sales activity increased in the year-to-year comparison. more

Selling your home? Sales are up!

admin — Sun, 30 Aug 2009 15:39:24 +0000

Are you planning on selling your home? Your chances appear to be improving according to statistics released by the Florida Realtor Association.

According to a recent press release:

Existing home sales rose 37 percent last month with a total of 15,882 homes sold statewide compared to 11,595 homes sold in July 2008, according to FAR. Press Release

Of course keep in mind that sales are up compared to 2008. We all remember 2008 as being no walk in the park when it came to selling a home.

Median sales price of all existing homes sold in July increases

admin — Tue, 11 Aug 2009 18:13:32 +0000

The Orlando real estate association reports that the median sales price of all existing homes sold in July rose 2.92 percent to $135,000 from the $131,175 recorded in June. Press Release

Rising home prices will be taken into consideration as agents complete market analysis for Florida homeowners thinking of selling.

There is is still a long way to go but rising home prices should be viewed as a positive.

Are Florida home prices going up?

admin — Sun, 02 Aug 2009 22:30:30 +0000

Are Florida home prices going up? According to the Florida Association of Realtors® the State’s median sales price was higher than reported for the previous month. This is potentially good news for home owners across the State. Should this trend continue and home prices rise, home owners will start seeing their value return over time.

Florida’s existing home sales rose in May

admin — Sun, 28 Jun 2009 19:16:32 +0000

Potential home sellers may be pleased to find out that any market analysis conducted on their home may be influenced by the increase in home sales during May. Why localized and every home owner should check the trends for their area, an uptick in sales will eventually lead to stabilized prices.