Displaying blog entries 251-260 of 266
The commerce department showed that in April, sales on new homes jumped 16.2 percent from the previous month. The estimates were only 0.2 precent by economists. This started a rally on Wall Street and the Dow Jones surged by .55% to 13,604.80.
Our in house pending sales numbers for April should be ready next week. We are hoping for a fourth straight month of increased activity in the resale market.
Just a quick update on the property tax issue. Looks like we will have to wait until June 12-22 for the next special session Another idea that is being proposed is the first $300,000 of a homestead's assessed value would have an 80% exemption, the next $700,000 would have 70%, and over $1million would have a 30% exemption.
As we are all experiencing, the current Homestead Exemption is only good if you have lived in the property for a while. Once you move, you pay the full taxable value. This is one of the reasons why the houses around $500,000 are suffering because there are no move up buyers who can afford to pay the tax increase.
The Pavlik Group is proud to announce that after months of work, we have launched a brand new state of the art real estate website: www.LuxuryLifestyleMiami.com.
What makes this different to all the other websites out there? There are many reasons:
1) Condo Search: If you are only interested in a particular condo, then you can search by city and the actual condo and see only listings in that particular condo building. You can even save your search and be alerted every time a new property matches your criteria so you can beat out other buyers to hot new listings.
2) Map Search: Do you only like a certain area? The map search allows you to look at a map, select your criteria, and like magic the condos pop up directly on the map. You can zoom in and zoom out to see the location, the neighborhood, and much more.
3) Easy access to our Seller Services. Want to know exactly what we will do to sell your home? Click on our Marketing Plan Section and it will itemize all our services.
4) Want to know what is going on in the real estate market? Our direct news feeds from various news sources pipes in to the home page daily!
5) Mortgage Info: Stay on top of all the interest rates, stock information and more, updated daily!
6) Want to buy that luxury home at a huge discount? Visit our Foreclosure section and automatically download today's list of all Bank Owned Property.
These are just some of the featured items with much more coming soon!!!! Stay tuned.
The Pavlik Real Estate Group is proud to announce that we are now doing VIDEO TOURS for HomeSellers and Buyers. For Home Sellers, we will do a VIDEO TOUR as we walk through your property and narrate special features and post the link on over 20 different websites. This dramatically increases the chances of an out of town buyer buying your home site unseen.
If you are on out of town buyer ready to buy, then we will go out to the property and shoot the video tour and email it to you so that you can see the entire property and make your purchasing decision faster, easier and with more certainty.
The Pavlik Group Welcomes Cristiane Leon as our new Buyer Specialist for the Miami and Beaches Area. Cristiane has been with Remax for several years supporting the office and is very familiar with the local communities, preparing contracts and navigating buyers through the process. She is sure to be successful in helping buyer accomplish their real estate objectives.
Our March numbers are in and the buyers are coming! In December of 2006, the number of new pending sales for Dade and Broward for Condos and Homes was only 2308. For three months in a row, it has increased all the way up to 4001. This hasn't happened for over 2 years.
Personally, two of our listings went under contract last week with multiple offers after being on the market for over 60 days. The inexpensive inventory is now being snapped up by investors and owner occupants alike. We are seeing sales and activity from the 200's to 600's and 1.2 million price ranges equally.
For Buyers that are looking to get in on a good deal, now is definately a time. We are seeing more foreclosures and banks willing to take short sales from the properties they financed in 2005.
More news on its way.
Surprisingly, several market indicators came in higher better than expected. Nationwide pending home sales were up .7% and new construction starts were up .3%. Investors expected both to be in the negative.
The Miami Today reported that locally the number of closed sales were down but the median price still increased versus 12 months ago for the month of February. For Dade County 417 single family homes sold versus 458 last year, The median price increased from $368,700 to $381,400. For Condos 432 units sold versus 774 last year and the median price increased from $266,900 to $279,500. This supports that in general prices are holding despite the decrease in the number of buyers. We think that a big factor for this is the fact that most homeseller do not actually have to sell and the motivation isn't there to lower prices.
Stay tuned for the official Pavlik Real Estate Group pending sale and inventory report coming this week for the month of February.
Article by Walter Molony of REALTOR.org
Pending home sales are higher, affirming the stabilization that is occurring in home sales, according to the National Association of Realtors®.
Based on contracts signed in December, rose 4.9 percent to an index of 112.4 from an upwardly revised level of 107.2 in November, but is 4.4 percent lower than December 2005.
The monthly gain was the biggest increase since March 2004 when the index rose 6.9 percent. A steady narrowing from year-ago readings has been observed since last July when the level of unsold housing inventory peaked at an all-time high.
David Lereah, NAR’s chief economist, said a moderate rise in existing-home contracts is a welcome relief for the real estate markets. “Some of the monthly gain may be weather related, but it appears buyers are becoming more comfortable, sensing the timing is good and that their local market has bottomed out,” he said. “I expect modest sales gains throughout the year, with what I believe are sustainable levels of activity. 2007 promises to be the fourth best year on record.”
The index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed and the transaction has not closed, but the sale usually is finalized within one or two months of signing.
The upturn was broad based, with all regions showing an increase. The PHSI in the Northeast jumped 8.1 percent in December to 89.9 but was 4.8 percent below a year ago. The index in the West rose 5.3 percent to 112.2 but was 4.9 percent below December 2005. The index in the South increased 4.3 percent to 129.8 but was 4.2 percent lower than a year earlier. In the Midwest, the index was up 3.2 percent in December to 103.2 but was 4.3 percent below December 2005.
Quick Announcement
Despite the slow down in real estate, I am pleased to announce that I have added a new team member. Please welcome Jason Martell as our new Client Care Manager. Jason is in charge of answering all the web inquiries, sign calls, ad calls and makes sure that everyone receives immediate information while I am on the road working with buyers and sellers.
I have also launched a For Sale By Owner Assistance program, where if you are selling for sale by owner, you can receive the full benefits of our full service marketing plan with no risk. There is no obligation, and if you find the buyer on your own, simply call us and say "thanks for your help" and our agreement is cancelled at no charge or obligation.
While most realtors are leaving the industry, The Pavlik Real Estate Group is growing. 7 homes sold in the last 3 weeks
Displaying blog entries 251-260 of 266
