South Florida On The Market

National median list prices have been on the rise since the beginning of the year and now stand at $195,000, up 2.68 percent on a year-over-year basis, according to the June REALTOR.com® Trend Data released recently. Of 146 markets covered by REALTOR.com® , while list prices increased in 101 markets, held steady in 26 markets, and declined in just 19 markets. Sustained, record low inventories have been driving improving prices. The national median age of the inventory dropped to 84 days in June, down -9.67 percent on an annual basis and the size of REALTOR.com®'s inventory of homes for sale was 19.35 percent below a year ago. In June 2011, median list prices were down 1 percent or more on an annual basis in 79 of the 146 markets covered by REALTOR.com®. The nationwide median list price in June rose to $195,000. While list prices remained relatively constant throughout the 2011 home buying season, they have been rising steadily for the past five months, suggesting a growing opti

The Miami real estate market continues to outperform the nation following a record sales year in 2011. Limited supply and heightened demand have fueled robust price appreciation in Miami-Dade County during the fi rst quarter of 2012, despite short sales and REOs (bankowned properties) continuing to account for a signifi cant percentage of closed home sales. Median and Average Sales Prices The median sales price for single-family homes in Miami- Dade County rose 14 percent to $174,799 in the fi rst quarter of 2012 compared to the same time last year, according to the 25,000- member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. The median sales price for condominiums was $129,500, a 38 percent increase year-over-year. The average sales prices for single-family homes and condominiums increased 26 percent to $335,072 and 29 percent to $257,346, respectively, compared to last year. Singl

  Short-Term Improvements The first step to improving your credit score is to know what is on the credit histories maintained by the major credit bureaus and to make sure the information is accurate. Even the best handling of credit can be ruined by mistakes or false information because your credit score is calculated based on the data in your credit history. You have to pay to see your credit score but not the credit history. Once each year you can get a free copy from each of the credit bureaus from the FTC-authorized provider, Annual Credit Reports (see References). If you find incorrect information on your credit history, you can initiate a dispute or corrective action online at the website of the appropriate credit bureau (Experian.com, Equifax.com or TransUnion.com). There are a couple of other things you can do in the near term to improve your credit score. One is to refrain from applying for new credit accounts or closing accounts. Doing this occ

1. You own it: With no landlord, you make the decisions. 2. You deduct it: Mortgage interest, property taxes and some costs involved with buying a home can be deducted from federal income taxes. 3. Interest rates: The cost to borrow mortgage money is at an all-time low. If you’re going to buy, this is the time to jump into the market. 4. You invest in it: Rent money is gone forever. Mortgage payments build home equity ownership interests. 5. You save for the future: Home equity is a ready-made savings plan. Sell it and you can make up to $250,000 cash without owing any federal income tax on the profit. 6. You can predict expenses:  Unlike rent, a fixed-mortgage payment doesn’t get more expensive over time. 7. You pick it: Choose from different neighborhoods, styles and price ranges. 8. You create it: Decorate, renovate, get a pet or paint the walls whatever color you want – it belongs to you. 9. You live in a neighborhood: You and your neighbors take pride in the l

The hottest design trends in new homes this year incorporate creative use of materials, layouts and features that provide maximum utility and beauty while being cost-conscious at the same time, according to the National Association of Home Builders (NAHB). In celebration of April’s New Homes Month, NAHB shares the following top trends highlighted by leading home builders and architects during the International Builders’ Show in Orlando, Fla., this past February: -Reworked Spaces: New homes are being designed to allow plenty of space for family interaction in high-traffic areas such as the kitchen, and to eliminate rooms such as formal dens and home offices that aren’t frequently used. Small spaces devoted to home management, also known as “pocket offices,” are being included in large pantries or spaces nearby the kitchen or family great room. Window seats and alcoves are being used to provide an area for private time, without taking up a lot of space. A popular and efficient location

If you have the bug to sell your home, you may want to grab a tool belt first. Why? In today's hyper-competitive real estate market, agents often tell their clients that it's a "price war and a beauty contest". So in addition to being the best priced home on the block, you need to be sure that your home also delivers a knock out first impression. A terrific way to position your home to attract the maximum number of suitors is to provide buyers with a home that is in turn-key condition. A turn-key home is one that a buyer can move into without inheriting a list of unfinished projects. So what are the top 10 ways to increase your home's value? Let's take a look: source: trulia Siding and exterior paint One of the fastest ways to make a better first impression with buyers is to paint the exterior of the home and, if needed, to replace the siding. A fresh coat of paint will freshen up the exterior and modernize the appearance. Just be sure to use colors that wi

With property values dropping in many places, short sale has now become a common term in the mortgage business. The most intuitive way to remember what a short sale is — is by thinking that it is the sale of a house that is short on money owed on home loans. How does this happen? Well, there are a few different factors that can contribute to a short sale, but the biggest one is the low appraisal and drop in property values. Let's say for example that a family buys a house 5 years ago for $100,000. After 5 years, they have paid $20,000 into the principal. They have $80,000 left on the mortgage. So, if they need to sell their house right now, the house must appraise for at least $80,000 in order for them to break even. However, with lowering property values, the house only appraises for $50,000. This family is now short $30,000 if they sell the house. If the family decides to keep the house until the housing market gets better, it's highly likely in 5 to 10 years that the hou