Portsview Condominium Market Update
Portsview Condominium Market Update PORTSVIEW Apt 408 – 3 BR 2 BA – Just Sold February 2013 – $343,000 Apt 1112 – 2 BR 2 BA – For Rent – $1,700/month Apt 911 – 2 BR 2 BA – For
Home Prices in 2012: Best Year-on-Year Gain in Six Years
Home Prices in 2012: Best Year-on-Year Gain in Six Years
Posted By susanne On February 7, 2013 @ 4:09 pm In Business Outlook,Consumer News and Advice, Finance and Economy, Real Estate Information, Real Estate Trends, Today’s Marketplace, Today’s Top Story
CoreLogic, a leading residential property information, analytics and services provider, recently released its December CoreLogic HPI report. Home prices nationwide, including distressed sales, increased on a year-over-year basis by 8.3 percent in December 2012 compared to December 2011. This change represents the biggest increase since May 2006 and the 10th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.4 percent in December 2012 compared to November 2012. The HPI analysis shows that all but four states are experiencing year-over-year price gains.
Excluding distressed sales, home prices increased on a year-over-year basis by 7.5 percent in December 2012 compared to December 2011. On a month-over-month basis, excluding distressed sales, home prices increased 0.9 percent in December 2012 compared to November 2012. Distressed sales include short sales and real estate owned (REO) transactions.
The CoreLogic Pending HPI indicates that January 2013 home prices, including distressed sales, are expected to rise by 7.9 percent on a year-over-year basis from January 2012 and fall by 1 percent on a month-over-month basis from December 2012, reflecting a seasonal winter slowdown. Excluding distressed sales, January 2013 house prices are poised to rise 8.6 percent year over year from January 2012 and by 0.7 percent month over month from December 2012. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month.
“December marked 10 consecutive months of year-over-year home price improvements, and the strongest growth since
Renters: Make Sure Your Security Deposit Is Safe
Renters: Make Sure Your Security Deposit Is Safe
For those of us considering moving out of our rentals, securing your security deposit can be a make-it-or-break it moment for our finances, as you will most likely be needing a security deposit for wherever you’re headed. Unfortunately, many renters never see their security deposit again. Recently, Rent.com surveyed 1,000 U.S. renters, and the results were startling:
- More than a quarter (26 percent) of all renters have lost their security deposit at some point
- 37 percent of men and 44 percent of 18-24 year olds said they did not get their deposits back because they moved out early
- More women (9 percent than men (3 percent) lost a deposit due to pet damage
- 36 percent of renters who did not get their deposits back said the landlord gave no explanation.
- This is likely illegal although tenant/landlord laws vary by state but according to several state law sites (ag.ny.gov, ca.gov, oag.state.tx.us, illinoisattorneygeneral.gov, mass.gov) the landlord must return the deposit less any lawful deduction.
If you’re renting, review the following tips—provided by rent.com–for maintaining your apartment
Setting the Right Price – Scientifically Proven to Sell Your Home
Setting the Right Price – Scientifically Proven to Sell Your Home
By John Voket
I am always looking for the best advice for folks who are trying to sell their homes, and to get an honest deal. This brought me to some research published by Ken H. Johnson, Ph.D. of Florida International University. Dr. Johnson is editor of the Journal of Housing Research and guest blogger at Keeping Current Matters (kcmblog.com).
Dr. Johnson recently wrote about the important research of professor John R. Knight, who studied the impact of changing a property’s listing price to produce a sale. Knight also examined the types of property that are most likely to experience a price change.
Findings from Knight’s research indicate that on average, properties undergoing listing price changes take longer to sell, and suffer a price discount greater than similar properties. Furthermore, bigger price changes are found to experience even longer marketing times and greater price discounts.
Finally, as for which properties are most likely to experience a price change, Knight finds that the greater the initial markup, the higher the likelihood that any given property will experience a listing price change.
With that in mind, Dr. Johnson says sellers—as well as brokers/agents—should be aware of
City of Aventura – Founders Day Weekend
City of Aventura – Founders Day Weekend Celebrate Aventura with the entire family at the 17th Annual Founders Day Weekend on Friday, Saturday and Sunday, November 9 – 11, 2012. Friday, November 9th at 9PM: The Broadway Tenors perform at
Rising Miami Home Prices, Inventory Shortage Create Opportunity for Sellers
Rising Miami Home Prices, Inventory Shortage Create Opportunity for Sellers
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
Home Prices Hit 20-month High
Home Prices Hit 20-month High
FNC’s latest Residential Price Index™ (RPI) indicates that U.S. property values continue to rise. Home prices reached a 20-month high following a robust spring/summer homebuying season. In August, home prices rose for the sixth consecutive month, consistent with signs of strengthening market conditions that are led by rising existing-home sales and declining foreclosure activities. Foreclosure sales, down from 23 percent a year ago to 17.4 percent in August, continue to play out favorably on current price trends.
Nationwide, August home prices – based on recorded sales of non-distressed properties (existing and new homes) in the 100 largest metropolitan areas – were up at a seasonally unadjusted rate of 0.3 percent from the previous month. On a year-over-year basis, home prices rose 1.5 percent from August 2011. Year to date, home prices were up nearly 5.0 percent from January.
FNC’s RPI is the industry’s first hedonic price index built on a comprehensive database that blends public records of residential sales prices with real-time appraisals of property and neighborhood attributes. As a gauge of underlying home value, the RPI excludes sales of foreclosed homes, which are frequently sold with large price discounts reflecting poor property conditions.
All three FNC RPI composites (the National, 30-MSA, and 10-MSA indices) show similar up-trend, rising month-to-month for six consecutive months since March. There are signs that the upward momentum subsided somewhat in August, with the two broader indices up only 0.2-0.3 percent from July. On a year-over-year basis, home prices nationwide strengthened
List of Improving Housing Markets Eclipses 100 in October
List of Improving Housing Markets Eclipses 100 in October
A total of 103 housing markets across the United States qualified to be listed on the National Association of Home Builders/First American Improving Markets Index (IMI) for October, released today. This is up from 99 markets listed as improving in September and is the largest number of metros on the IMI since it was created one year ago. A total of 33 states and the District of Columbia are represented on the October list.
The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Markets added to the list in October include such geographically diverse locations as Santa Cruz, Calif.; Pocatello, Idaho; Abilene, Texas; and Savannah, Ga.
“While 11 new housing markets were designated as improving in October, 92 metros retained their spots on the IMI and just seven slipped from the list,” notes Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “This is an encouraging sign that