NOT IN MAIMI!

NOT IN MIAMI

(Includes Broward, Miami-Dade and Palm Beach Counties)

Realtors at EWM in South Florida had the pleasure of attending a Breakthough 2012 session with Steve Harney. Steve is a nationally acclaimed speaker, trainer and coach, who was recognized in 2010 as one of the 100 most influential leaders in real estate (Inman News).

Steve’s mantra was “NOT IN MAIMI” (which area includes Broward, Miami-Dade and Palm Beach countries). Will prices go down in many parts of the country? The answer is yes, but NOT IN MAIMI. With his many charts and graphs, Steve explained and showed how South Florida has stabilized, unlike many other parts of the country.

Let’s look at some of Steve Harney’s charts:

1. Month’s Inventory of Homes for Sale: Real estate is all about supply and demand. The less supply, the more the demand. As you will note from the graph below, inventory is DOWN!

2. Pending Home Sales: UP!

1. Prices for South Florida: Prices are DOWN, too, as are interest *rates. These are favorable conditions for home buyers and for move-up sellers.

SEE the Difference—Prices are rolled back to 2002,

but the interest rate is much LOWER! Cost is DOWN.

1. Where’s the shadow inventory? NOT IN MAIMI, as you can see from the chart below:

1. What is the return on investments? Real estate wins over the last decade.

1. What is the projected rate of appreciation for real estate? See chart below. The South Florida area could see a better than expected rate of appreciation. Believe it or not, many baby boomers still have money in their 401/retirement accounts and would enjoy moving to a warmer climate. Beginning January 1st, 2011 every single day more than 10,000 Baby Boomers will reach the age of 65. That is going to keep happening every single day for the next 19 years. There are 79 million Baby Boomers, making up a quarter of the US population, according to the Pew Research Center.

7. When is a good time to buy? TODAY!

And, lastly, what would Warren Buffet say--