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facts and trends related to
residential & commercial investments in the Greater Miami area and the Beaches.
In this Issue:
- How Is The
Market?
- The Good News Is...
- 11 Reasons to List During the
Holiday Season
- After The Boom
- Bargain Buys
(new!)
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Poinsettia at Fairchild - Tropical Park
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Provided by:
Izzy Buholzer
Tel. 786-287-6999
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HOW IS THE MARKET? |
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REAL ESTATE UPDATE
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Florida existing home sales: -
34%
versus September '05
Florida existing condo sales:
- 45%
versus September '05
Florida consumer confidence: 90
highest level in 7 months
30-year fixed rate mortgage: 6.24%
lowest level in 8 months
Dade County:
Single Family Homes:
For Sale: 11,395
Sold last month: 692
Condominiums:
For Sale: 19,712
Sold last month: 712
Data: October 2006
Sources:
Florida
Association of Realtors & Multiple Listing System
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2005
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2006
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THE GOOD NEWS IS...
Interest Rates are still at historic
low levels and stimulating the otherwise sluggish real estate
market. Buyers and sellers are getting a huge relieve from
the financing sector to still jump on the bandwagon of. Not for long though. It is expected
that the Fed is very likely to change its interest rate
policies upward in 2007.So, buyers lock in your interest
rates now and move into your new home rather sooner than
later. Investors should read "After the Boom"
article! If you currently own a home or investment property
you need to decide on whether to sell fast or to hold on
another 3 to 4 years until the current cycle reverses again
upward.
For an individual analysis
call 786-287-6999 or write to
info@ibmiami.com
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11
reasons to list 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 less competition means more money for you!
3. Since the supply of listings will dramatically increase in
January, there will be less demand for your particular home! Less
demand means less money for you!
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!
Source: Mike Ferry Organization
after
the boom
The recent article in Smart Money
created quite a stir in South Florida. Naples (FL) and Miami were
ranking as the top overvalued Real Estate Markets in the nation. The
analysis was done based on a comparison between home prices and
local wages. An overheated market is produced by home prices
outrunning local salaries and wages.
In an ideal world, you would not sell
a house at all while prices are falling. But if you must, experts
agree it is best to do it quickly before prices slide further, says
the article. South Florida real estate broker Mike Morgan recommend
that his clients take 1% to 3 % off the price each week until they
get an offer. Other solutions are practiced by local developers now
by adding buyer's incentives such as paying for closing costs,
mortgage points or additional improvements. Use one or more of these
methods to make your
home stick out from the crowd.
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TOP TEN OVERVALUED MARKETS |
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OVERVALUED |
Actual Home
Prices ($’000s) |
Percentage
Over/Undervalued |
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1. Naples,
Fla. |
501.2 |
94 |
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2. Miami,
Fla. |
374.2 |
81 |
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3. Santa
Barbara, Calif. |
598.3 |
76 |
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4.
Riverside-San Bernardino, Calif. |
370.9 |
74 |
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5. Modesto,
Calif. |
337.6 |
73 |
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6. Salinas,
Calif. |
613.9 |
72 |
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7. Stockton,
Calif. |
389.9 |
69 |
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8. Los
Angeles |
536.9 |
69 |
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9. Merced,
Calif. |
353.6 |
67 |
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10. Port St.
Lucie-Fort Pierce, Fla. |
292.5 |
64 |
For a copy of the Smart Money article
click here:
After the Boom (PDF)
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bargain buys:We guarantee to find
you the best deals in and out of Miami and the beaches. Find my top
selection below or send me your personal criteria. You will receive
only the exact matches according to your wish-list. |
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TYPE |
AREA |
DESCRIPTION |
PRICE |
DETAILS |
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Home: |
Pinecrest |
Single Family with Pool
3 Bedroom, 2 Full Bath
Living Area: 1,708 sqft.
Lot: 15,004 sqft.
Year built: 1958 |
$425,000 |
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Condos: |
Coral Gables |
Condo - Brand New unit - Coral Way
Bargain-priced Luxury 1 Bedroom, 1 Bath
NY-Loft style Condo. Gym, Pool, Sauna, 24hr-Security, Extra Storage,
WD, SS-appliances, Pet friendly - Year built: 2006 |
$245,000 |
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Land: |
Blue Ridge
Mountains, GA |
Land - Mountain Homes
Ideal for Investors, Retirees or Second Home
Minimum lot size: 1 Acre
Within 2-hour drive from Atlanta, GA |
$40,000
(per acre) |
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Business: |
North Miami |
Dollar Store
Established: 2004
Yearly gross income: $360,000.00
Net before taxes: 168,000.00
Spec: Qualifies for E2 Immigration Visa |
$300,000
OBO |
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FOR A
FREE MARKET ANALYSIS
OF YOUR HOME
CLICK HERE!
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Copyright 2006 - Izzy Buholzer - All rights reserved |
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