Martha Chamberlain

Each year, my kids enjoys the wonderful fireworks displays as they rings in the New Year. As soon as the sun sets, they go out to the back patio and wait, and wait and wait.

In 2008, just like my kids, buyers waited and waited and waited for the prices to drop.

Even though Dr. Hank Fishkind, Florida Real Estate Consultant, says we should hit rock bottom in the coming months of 2009, he also says Miami-Dade will recover sooner than Broward, thanks to its international population and trade.

He did go on to say that Broward will have a tougher time turning around since it's dealing with the double-whammy of negative population and job growth in 2008.

The first signs of recovery will be when the volume of existing home closings goes up and the foreclosure rate goes down.

Experts are predicting the market will correct itself before 2010. (WIOD Radio News: Tuesday, January 6, 2009).

Therefore, based on Dr. Fishkind's predictions, 2009 is going to be a turn-around market for the Seller. It's time for the Buyers to get off the fence if they want to grab the home they really want to enjoy before inventory decreases which drives up the prices. Economics 101.

Being that interest rates are at an all-time low, if a Buyer buys today, he gets today's interest rate. If he waits until the prices drop another ten percent (10%), and the interest rate goes up one percent (1%), it's a wash!

If buyers wait until 2010 to buy, and prices and interest rates increase, buyers are going to be crying in their soup.

It is tough to argue with the numbers. Here is a picture of what is happening in the Broward County market for the past fifteen months:

Broward County

	1 year	15 months
	Nov 07	Nov 08	% Change	Sep 07	Nov 08	% Change
For Sale	16434	14597	-11.2%	16435	14597	-11.2%
Sold	519	634	22.2%	527	634	20.3%

According to the graft for Broward County, in one-year's time, inventory decreased 11.2% AND sales increased 22.2 percent.

Over a fifteen-month period of time, inventory still showed a decrease of 11.2% and sales showed an increase of 20.3%.

Let's take a look at Weston, Florida:

	1 year	15 months
	Nov 07	Nov 08	% Change	Sep 07	Nov 08	% Change
For Sale	857	676	-21.1%	833	676	-18.8%
Sold	44	45	2.3%	43	45	4.7%

Inventory in Weston has decreased 21.1% over the past year and 18.8% over the past fifteen months. Sales have increased 2.3% over the past year 4.7% over the past fifteen months.

Even though home prices are reflective of the values we enjoyed in 2003-2004, all the numbers indicate that the housing market will be on the rise this year.

I know for sure there are some neighborhoods in Weston that have little to no inventory. For example, try finding a home for sale in the Country Isles Patio homes. Because these homes (even on the lake) are priced in the low $300s, they are a hot commodity.

An old proverb epitomizes the wait-and-see mentality of many buyers: "Man who stand on top of mountain with mouth open wait long time for roast turkey to fly in."

Count Total Price Average Price Median Price Average DOM Active 664 $506,143,677 $762,265 $473,000 212.45 Withdrawn 0 $0 $0 $0 0 Cancelled 0 $0 $0 $0 0 Expired 0 $0 $0 $0 0 Temp Off Market 0 $0 $0 $0 0 Pending Sale 103 $52,522,229 $509,925 $389,000 127.82 Closed Sale 54 $23,787,556 $440,510 $384,500 130.3 Terminated 0 $0 $0 $0 0 Rented 0 $0 $0 $0 0 Backup Contract/ Call LA 0 $0 $0 $0 0 Total 821 $582,453,462 $709,444 $445,900 134.15

While many are shopping and preparing for the holidays, there are those who need to relocate. Actually, the holiday break is an easy time for that transition. Many times a buyer can find a great deals because people wish to relocate during the winter break.

Eleven Reasons to List Your Home During the Holidays

As a Seller, I want to advise you that there are eleven good reasons for selling your home during the holidays:

1. People who look for a home during the Holidays are more serious buyers!
2. Serious buyers have fewer houses to choose from during the Holidays, and fewer competitive listings means more money for them!
3. Since the supply of listings will dramatically increase in January, there may be more demand for their particular home! Less demand translates to less money for them!
4. Houses show better when decorated for the Holidays!
5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!
6. Buyers have more time to look for a home during the Holidays during the weekday!
7. Some people must buy before the end of the year for tax reasons!
8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market!
9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!
10. You can sell now for more money, and we will provide for a delayed closing or extended occupancy until early next year.
11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!

Because Florida is a homestead state, buyers may prefer to be in their new home before January 1. This may be inconvenient for the Seller, but could translate to more money for him.

Market Research

As we research the market 30 days prior to today, which places us before the Thanksgiving holiday of 2008, the statistics show us that there were:

• Fifty-four (54) closed sales.
• One hundred and three (103) pending sales.

The statistics tell the real tale about Weston, Florida.

Market Analysis Report

Property Type: Single Family (RE1) Status: Active-Available, Pending Sale, Closed Sale Number of Properties: 821

Beds Baths SqFt Listing Price LP/SqFt Selling Price SP/SqFt SP/LP DOM High 12 12 21,188 $13,500,000 $897 $1,400,000 $278 103.5% 545 Low 2 0 646 $95,000 $67 $0 $67 1% 0 Average 4.19 2.99 3,004.92 $709,444 $209 $326,100 $161 90.47% 134.15 Median 4 3 2,520 $445,900 $189 $306,000 $157 93.13% 81.5

As we perform a price analysis for the past thirty (30) days, same would show:

• $149,999 and below: Two (2) homes sold.
• $1,000,000 and over: Ninety-nine (99) homes sold.
• $300,000- $349,999: One hundred and six homes sold (106). This price range category had the most sold homes.

The numbers prove that in spite of what you hear on the news, Weston, Florida Real Estate is experiencing a very Happy Holiday.

From my family to yours - we hope you have a very Merry Christmas and a Happy Hanukah as well as a very happy, healthy and prosperous New Year.

Information as per MLS warranted but not guaranteed.

Golf is like a love affair. If you don't take it seriously, it's no fun; if you do take it seriously, it breaks your heart. ~Arthur Daley

Just like golf -- if you take the market too seriously, it will break your heart. Again, I am touting that good news abounds despite what the media is shouting.

As you may be aware, the Weston Hills Country Club area is one of the most desireable communities in which to reside. There are approximately 1946 residences within the country club. Within Weston Hills, there are several subdivisions. These are:

• Bay Point at Weston Hills
• Bay Isle at Weston Hills
• Eagle Run
• Eagle Watch
• Edgewater
• Grand Oak
• Harbor Point
• Harbor View
• Hunters' Pointe
• Jardin
• Lakewood
• Mayfair
• Meadowood
• Montclaire
• Monterey
• Oak Brook
• Poinciana
• Princeton
• Province
• Riviera
• Royal Palm
• The Fairways
• The Laurels
• The Pointe
• The Reserve
• The Retreat
• Victoria Isle
• Victoria Pointe
• Water Oak

There are two coach-home subdivisions:

• Courtside at Weston Hills
• Legends at Weston Hills

As of today, there are ninety-four (94) homes currently on the market. At the top of the price bracket, the highest priced home is $2,089,000 in the Riviera subdivision.

On the bottom of the price bracket, the lowest priced home is $489,000 in the Hunters' Pointe subdivision. This makes the median priced home for Weston Hills $798,000.

For the past six months, the average price per square foot is $211.00. The average sold price is $784,614. The average days on market is 103 days.

	1 year	15 months
	Nov 07	Nov 08	% Change	Sep 07	Nov 08	% Change
Months of Inventory (Closed Sales)	3	4	33.3%	3	4	33.3%

Regardless of your taste and pocketbook, in Weston Hills you'll find different strokes for different folks!

Now that we know Weston is selling, which price category is getting most of the action? The chart below, which depicts prices ranging from $150,000 to over $1,000,000, shows that 31 homes (priced from $250,000 to $299,999) sold during the last quarter of 2008.

The below median price range for Weston is getting all the action.

Information as per MLS, warranted not guaranteed.

Price Range	Quantity	Average DOM
$149,999 or under	0	0
$150,000 - $199,999	2	37.5
$200,000 - $249,999	13	95.23
$250,000 - $299,999	31	86.9
$300,000 - $349,999	29	88.31
$350,000 - $399,999	21	84.19
$400,000 - $449,999	24	110.63
$450,000 - $499,999	11	51.73
$500,000 - $549,999	7	43.29
$550,000 - $599,999	6	93.33
$600,000 - $699,999	5	116.8
$700,000 - $799,999	9	131.44
$800,000 - $899,999	3	91
$900,000 - $999,999	0	0
$1,000,000 or over	9	166.22
Total	170	93.88

There were 170 single family homes sold in the Weston area last quarter- 90 days back.

Of those homes, the median home price is $399,450. Read my entire post on blog.ewm.com.