Ft Lauderdale Real Estate

Rental inventory in the Condo Market

2011-06-15T09:40:00.000-07:00

The rental market is tightening in South Florida as previous homeowners traditional renters and new arrivals all compete in Broward Palm Beach and Miami-Dade. And yes there is a population growth in South Florida.

Condo rentals and leases are pacing approximately 2000 rentals per month.

It seems that this pace will continue for a sustained period.

Housing Shortage

2011-06-14T06:49:00.000-07:00

According to Harvard University's Joint Center for Housing Studies, 16 million new housing units will be needed within the next decade to meet population growth and shifting demands.

Household growth, which has dropped drastically in recent years will need to reverse its trend to meet the forcasted spike in demand. With inventories of new homes at historic lows, a turnaround in demand could quickly result in tighter markets.

The need for greater housing is based on the report projecting demand for 1 million new homes per year to meet population growth in the coming decade. The report predicts a surge in smaller homes , estimated that 3.8 million baby boomers will be looking to downsize in the next decade. Immigration growth and the need to replace existing homes and demand for second homes will continue to rise concluding that 16 million new housing units will be needed over the next decade.

Sellers Tips

2010-08-05T09:03:00.000-07:00

The biggest concern for realtors is explaining to the SELLERS the nessesity of preparing their residence in an uncluttered & clean condition.

Personal items, area rugs should be removed. You need to make the residence look & fell larger.

All drapes & shades should be open to allow light, rooms need to be bright and airy.

An empty room should be furnished and if there are mirrors take advantage of them to reveal space. In bathrooms use the mirrors to reflect your accessories

Oasis of the Seas entering Port Everglades

2009-11-13T06:54:00.000-08:00

South Florida Real Estate

2009-11-09T06:16:00.000-08:00

Current market trends are looking at a bottoming of the market. This is a direct result of the affordability factor. Most areas have seen a reduction of 30% or more.

Sales have shown a sales increase of 34% msotly in single family homes. The Condo market is also seeing increases in sales again due to changing price points.

Negative thinking keeps Buyers on the fence. Is real estate a good investment?
The downturn has provided a safer opportunity due to price adjustments.

Real estate over the long term has always been the greatest provider of wealth.

lastly the $8000 tax credit has been extended to April 30, 2010 as well as a new $6500 tax creit for nopn 1st time Buyers.

Price appreciation is flat although2/3's of the market shows slight increases. The subprime market has caused many problems but has afforded Buyers a great opportunity with the inventory levels being so plentiful.

Sales are significantly higher this year based value. Investors are actively seeking properties as well.

Foriegn Buyers continue to take advantage of the strong Euro, British Pound & Canadian Dollar.