We hope you are enjoying your long Labor Day weekend! It's the final summer weekend to enjoy the pool, cook out, and mix with family and friends. So, get out the grill, build some memories, relax and have fun.
Fall is a great time to buy Miami real estate...this Fall especially! It is the last chance to take advantage of the $8000 first-time home buyer tax credit. All indications are the Miami real estate market has bottomed out, making home prices affordable and lower than what they will most likely be next spring. A recovering Miami real estate market and increased sales will bring with it higher prices.
Enjoy the rest of your holiday and then give us a call. You don't want to lose out on buying your dream home during this incredible Buyers Market!
Search all Miami real estate and homes for sale.
We hope you are not one of those unlucky people who has had their home equity line of credit unfairly reduced on their Miami real estate. But if you are, there is new booklet from the Federal Reserve Board that might shed some light on your situation. At the very least, it will tell you how to try to get your home equity loan restored.
It's called "Five Tips for Dealing with a Home Equity Line Freeze or Reduction." It's pretty rudimentary, but it should get you started. Check out the Fed's booklet.
Learn more about Miami real estate by visiting HomeInSouthFlorida.com.
Summer is winding down and it the kids are heading back to school. Here are some fun websites to help get ready for the Miami Florida's opening bell:
For the younger kids:
Crayola - fun site full of activities for the little ones
McGruff's Safety Tips - hints for your children's school days
Recipes - for Brainy Breakfasts to After School Energy Boosters
Kids Domain - Back to School printable activity pages
For the teenagers:
World Fact Book - a study resource
Fact Monster - also for study reference
Geosense - online geography based game for two
MSN Learning and Research - homework center
For college prep:
Scholastic Training Systems - levels the playing field for all students
College Power Prep - free software, tips, trainers, and advice
SAT Math - see exactly which areas need help the most
Vocabulary Syndicate - word puzzles, vocabulary games and competition for prizes makes education fun
While the kids are getting off to school is a good time to look into buying a Miami Florida home!
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
Lawrence Yun, NAR chief economist, said a combination of positive market factors is fueling the gains. "Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who've been on the sidelines. Activity has been consistently much stronger for lower priced homes," he said. "Because it may take as long as two months to close on a home after signing a contract, first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by November 30."
Let's take a look at the Miami FL real estate sales statistics for July compared to July 2008 to see how the market is looking in South Florida:
Miami FL Real Estate - Single Family Homes Sales
The Miami market is representative of the South Florida market as a whole when comparing July 2009 to July 2008. The number of single family homes sold in 2009 increased by 33.4 percent compared to 2008. The number of new homes on the market decreased by 36.8 percent. The average sales price declined by 39.7 percent to $194,293, while the year-to-date average sales price declined 38.5 percent to $208,224.
|
Date |
New |
Sold |
Average |
Y-to-D |
|
July 2009 |
1,063 |
473 |
$194,293 |
$208,224 |
|
July 2008 |
1,682 |
315 |
$322,236 |
$338,601 |
Miami Fl Real Estate: Condo/Coop/Townhouse/Villa Sales
July 2009 market statistics for condo/townhouses etc. in Miami showed an increase in sales with sold listings up by 23.5 percent compared to 2008. New listings decreased by 26.1 percent. The average sales price dropped 46.9 percent to $150,074 and the year-to-date sales price dropped 46.9 percent to $162,952.
|
Date |
New |
Sold |
Average |
Y-to-D |
|
July 2009 |
1,142 |
336 |
$150,074 |
$162,952 |
|
July 2008 |
1,545 |
257 |
$282,418 |
$306,929 |
If you want to learn more about Miami FL real estate, please contact us at 888-SFL-TEAM or visit HomeInSouthFlorida.com.
To begin searching for Miami FL homes, please use our complimentary MLS search.
Statistics provided by the Realtor Association of Miami-Dade County and are deemed reliable, but not guaranteed.
We have talked with you about the $8000 first-time home buyer tax credit, but we haven't told you about special financing that is available to South Florida home buyers on Fannie Mae owned foreclosure homes through the HomePath program.
Some of the benefits of HomePath financing include:
Give us a call to learn more about this exciting opportunity to help buy your next South Florida home!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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