Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5.
Lawrence Yun, NAR chief economist, said buyers are responding to very favorable market conditions. "Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market," he said. "Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers."
Let's take a look at the Miami FL real estate sales statistics for June compared to June 2008 to see how the market is looking in South Florida:
Single Family Homes Sales in Miami
The Miami FL real estate market is representative of the South Florida market as a whole when comparing June 2009 to June 2008. The number of single family homes sold in 2009 increased by 59.4 percent compared to 2008. The number of new homes on the market decreased by 42.8 percent. The average sales price declined by 25.9 percent to $219,087, while the year-to-date average sales price declined 38.3 percent to $210,857.
|
Date |
New |
Sold |
Average |
Y-to-D |
|
June 2009 |
1,027 |
475 |
$219,087 |
$210,857 |
|
June 2008 |
1,797 |
298 |
$295,830 |
$342,105 |
Condo/Coop/Townhouse/Villa Sales in Miami
June 2009 Miamia FL real estate sales statistics for condo/townhouses etc. showed an increase in sales with sold listings up by 10.7 percent compared to 2008. New listings decreased by 30.8 percent. The average sales price dropped 55.7 percent to $144,533 and the year-to-date sales price dropped 46.9 percent to $165,861.
|
Date |
New |
Sold |
Average |
Y-to-D |
|
June 2009 |
1,090 |
320 |
$144,533 |
$165,861 |
|
June 2008 |
1,579 |
289 |
$326,549 |
$312,419 |
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.
The current economic recession has caused many seniors to worry about making ends meet. As retirement savings dwindle, a reverse mortgage can be a life saver. Reverse mortgages offer the opportunity to tap into your home's equity without having to pay back the loan until the house is sold or the home owner dies. But reverse mortgages come with hefty fees, high interest rates and are often sold by aggressive salespeople who push inappropriate financial products on vulnerable seniors.
If you are considering taking out a reverse mortgage or have a parent or family member who is, don't fall for a pitch from a salesman who cares more about a lucrative commission than determining whether a reverse mortgage makes sense for you. To learn more about reverse mortgages, check out resources at AARP and HUD.
Need a referral to a reputable lender who will give you straight answers concerning reverse mortgages? Give us a call. We know the best!!
Or at least it used to be. I love to travel, and there are so many wonderful places to explore, especially living in South Florida. Not all of the places that I like to visit are dog friendly though, and we have two wonderful boxers, Faith and Buster. This used to limit our travel, as I did not like to board them, no matter how wonderful the facilities may have been.
A couple of years ago my friend, Angela Diskin, who lives in Hollywood, Florida near the beaches, started a pet sitting service. I was unsure how my dogs would respond to this, but optimistically gave it a try.
Angela came over. We filled out paperwork, went over how her services work, and she got to know the dogs. After signing on the dotted line, we went away for a short weekend to Isla Mirada, just south of Miami in the Florida Keys.
The trip to the Keys was wonderful, but most importantly, Faith and Buster had a great weekend as well. I have to admit, like a nervous mother, I called Angela several times to check on our puppies, and she happily gave us updates. In addition to feeding, playing with and walking our dogs three times a day, Angela watered the plants and took in the mail and newspapers.
Since then, we have used Angela's services innumerable times and I enthusiastically recommend her to all of the pet lovers that I know.
This summer I knew we would be doing a lot of fun weekends away, exploring the Sunshine State and also taking a trip abroad. I had no doubt that Faith and Buster would be happy at home in Angela's care.
Summer isn't quite over yet! Make this the best one ever for both you and your four legged friends!
Ellen Bithell, CRS
SELLING SOUTH FLORIDA
Angela Diskin, Owner
Pawsitively Purrfect Pet Sitting
mzkittycooks@bellsouth.net
954.907.1374 Cell
954.922.5207 Business
Last month I had the opportunity to go to the Bank Atlantic Center in Sunrise, Florida to see Bruce Springstein in concert. The Bank Atlantic Center is a large, beautiful arena located in Southwest Florida. I have attended many shows there and have not been disappointed yet. Though I was not a big Bruce Springstein fan, I was a huge fan of The Sopranos. Imagine my surprise to find that Sylvio, Mafia hit man on the Sopranos, was actually a musician and a member of Bruce Springstein’s E-Street Band. It was such fun to watch him dueling guitars with Bruce, rather than dueling guns with Mafia targets on The Sopranos.
Many people think of New York and LA as cities with great entertainment, and they certainly are, but South Florida really holds it's own! My family recently went to see "Wicked" at the Broward Center for the Performing Arts, a smaller, more upscale and intimate venue than the Bank Atlantic Center. We were blown away by the performance! Last weekend my mother and daughter went to see "Twelve Angry Men" at the Broward Center and loved that as well.
Between the Carnival Center in Dade County, the Broward Center in Fort Lauderdale, the Bank Atlantic Center in Sunrise and Mizner Park in Boca Raton, South Florida offers an amazing array of world class talent. In addition to this wonderful assortment of professional offerings, South Florida provides an abundance of free concerts and activities.
In my hometown of Hollywood alone, scheduled live music programs include Third Thursdays in the Park, Concerts in the Park (most recently featuring Grammy-nominated Sammy Figueroa and the Latin Jazz Explosion) and the Hollywood Philharmonic Orchestra, all at the new ArtsPark at Young Circle.
Also at ArtsPark are Friday thru Sunday Plaza Performances, each featuring one to five performers, and Sunday Family Days with varied activities for all. Or, join Artwalk in charming downtown Hollywood on the third Saturday of each month and enjoy the work of local and regional artists accompanied by delightful live music and complimentary wine and hors d’oeuvres. And on the fourth Friday of the month, Hollywood Beach Broadwalk hosts Classic Cruise Nights, a wonderful exhibition of pre-1978 classic cars.
There’s something for everyone in exciting South Florida and I look forward to taking in as much as I can of it!
To find out more about what there is to do in South Florida, visit my website, www.homeinsouthflorida.com. You can find your home's value, or find your dreamhome!
I love South Florida, so please don’t take this the wrong way, but it does seem we could do so much better when it comes to our children’s educations.
My children both attended, and my 5th grader still attends, Hollywood Hills Elementary, which was and is a great school.
In our wonderful neighborhood of Hollywood Hills, the big question for parents is what to do about middle school and high school. My daughter attended American Heritage, a wonderful, but very expensive private school for middle school and her freshman year of high school. This year my husband and I were determined to have both of our children getting a great education in the public school system due to (1.) the rising costs of private school and (2.) the inconvenience of having my daughter’s entire peer group living 30-45 minutes away, closer to American Heritage than to us.
I talked to friends that are teachers, politicians and parents and got a lot of good input from them all. Here is what we came up with which is working for the time being.
My daughter, performing in her high school's production of the musical, "Tommy"
We moved our daughter to South Broward High School, which was culturally a shock, but educationally comparable. She registered for honors classes and dove right into the drama department, making tons of great friends who live locally, eliminating the necessity to constantly drive her out west to maintain her social life. She has signed up for Advanced Placement classes next year and is also eligible for dual enrollment (in college classes?), which was not an option at American Heritage.
Our son is currently in gifted and will go to Olsen Middle School in the fall where he will be in the gifted program. Had he not qualified for gifted I would have exercised my option under the School of Choice and transferred him to one of four schools that the county listed as an option since Olsen has a C rating.
I did not want to transfer him to another school because I would have faced the same situation that I had with my daughter: his peer group would have been way out west, making our weekends full of long car rides, and he would not have had friends in the area to play with.
Hollywood is a great city, which I love, and we have a new mayor and new commissioners. One of our commissioners, Heidi O’Sheehan, has children in the public school system and is very aware of the problem. I am hopeful since hearing Mayer Bober speak about the need for better schools in our city that something will happen soon, but until that time I think it is very important that parents know about options such as School of Choice, gifted programs, etc. so that our children, our future, get nothing less than what they absolutely deserve: the very best!
For more information on Hollywood area shools, visit www.browardschools.com. If you're moving to the area, be sure to visit my website www.homeinsouthflorida.com, and sign up to receive the latest real estate listings, tailored to your specifications. If you're looking for a larger home to accomodate your growing family and need to sell your current home, be sure to check out what your home's value is before putting it on the market!
Specializing in South Florida real estate including Hollywood, Hallandale, Miami Beach, Fort Lauderdale, Weston, Aventura, Miami, Cooper City, Pembroke Pines, and southeast Broward County
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