Atlanta, Dallas/Ft. Worth, Florida Real Estate News and Trends, Real Estate Blog

Trulia: 1 in 3 home searches cross state lines

2012-02-10T11:37:00.000-05:00

SAN FRANCISCO, February 2, 2012 – According to real estate search engine Trulia, “House hunters near and far eye Florida real estate.” Seven of the top 10 metros with high demand from out-of-state residents are in Florida. Even with a backlog of homes unable to complete the foreclosure process, big price declines mean more people want to move to Florida than leave. In fact, one-third of all Miami home searches were done by people living more than 500 miles away.

Trulia’s Metro Movers Report looks at where homeowners are today and, by analyzing where they search for a new home, provides a look at where they want to live tomorrow. The Winter 2012 report examines all property searches on Trulia.com among all U.S. metropolitan areas between Oct. 1 and Dec. 31, 2011.

“Today’s house hunters are deal seekers,” says Jed Kolko, Trulia’s chief economist. “Although locals in Florida, inland California and the Southwest are suffering from high foreclosure rates and lost equity, huge prices declines … have drawn house hunters from across the country. As America’s retirement capital, Florida has received the most attention from prospective homebuyers and renters from the Northeast and Midwest. Baby-boomers who had planned to retire to cheaper places during the boom years can once again buy in Florida.”

To read the entire article click here.

Coldwell Banker Residential Real Estate CARES Donates $46,000 To Local Non-Profit Organizations

2012-02-09T16:03:00.001-05:00

Miami, FL (February 8, 2012) –Coldwell Banker Residential Real Estate CARES, the charitable arm of Coldwell Banker Residential Real Estate distributed $46,000 to 17-different non-profit charities in the Miami-Dade area. The funds were raised through Coldwell Banker Residential Real Estate’s Miami-Dade office’s first golf tournament, local office fundraising and agents direct funding through closings.

Recipients from the various organizations, along with CARES representatives, were invited to a reception on February 2 to receive the donations and to further discuss the work their charities are involved with.

“As an active member in Miami, Coldwell Banker Residential Real Estate and its sales associates are committed to giving back to the communities we live and work in,” said Mike Murray, Vice President, Coldwell Banker Residential Real Estate, Southeast Florida. “The money that we raise in Miami, stays in this area further strengthening our communities.”

The following local organizations were selected as recipients:

• Ronald McDonald House • Centro Hispano Catolico • Diabetes Research Institute • Educate Tomorrow • Friends Forever Rescue, Inc. • Karen Peterson and Dancers, Inc. • Liga Contra El Cancer • Miami Contemporary Dance Company • Armed Forces Service Center, Inc. • The Posse Foundation • St. Sophia Greek Orthodox Church • Touching Miami with Love • University of Miami-Linda Ray Intervention Center • Cancer Support Community of Greater Miami • Lauren’s Light • Girl Scouts of Tropical Florida • Friendship Circle

CARES, the charitable arm of Coldwell Residential Real Estate, mission is to give back to the communities and neighborhoods in which its members live and serve by providing charitable contributions and volunteer support, thus strengthening and reinforcing its commitment to creating a lasting source of unity, hope and vision throughout Florida.

Mobile Technology in the Real Estate industry

2012-02-08T11:35:00.002-05:00

By Guest Contributor Steven Bastian, Sales Associate in the Coral Springs office

Mobile Technology has caused a major shift in our real estate businesses and in many office environments. An agent who utilizes and leverages the current technology can truly be a real estate road warrior and operate without an actual office within their brokerage. Much of the in-office focus has shifted towards presentations and client meetings.

With the introductions of smartphones (i.e. iPhone & Android & Blackberry) and tablets (i.e. iPad), the shift has been towards a much more mobile real estate agent. Nowadays, the real estate agent can be more mobile and have client meetings wherever they want, a Starbucks, a Dunkin Donuts or even a Restaurant can be a great meeting place with clients and not their own office, with the introduction of the mobile hotspots.

Portability and mobile technology have changed real estate forever. We are not just talking about laptops changing real estate but the fact that everything in a real estate transaction can be done entirely outside of your office. Agents are using their mobile phones to be more efficient. Rather than taking their laptops, agents are using their tablets to have contracts signed digitally. Online CRM (Customer Relationship Management) are being used by agents that can be accessed from anywhere, which is replacing the old traditional rolodex.

If you have been hoping that technology in real estate was just a fad, you better think again. The real estate industry has shifted from brick and mortar offices to a new and far more efficient digital landscape. The technology is advancing at such a rapid pace and hardware such as the touch screen devices including iPhones and iPads are so easy to learn that you will wonder why you didn't get one sooner. Once you get bit by the technology bug and you start learning and adapting the newest technology into your day to day real estate business your personal productivity is sure to increase.

Trulia.com: House hunters still flock to Florida

2012-02-07T08:59:00.001-05:00

Despite the threat of hurricanes and a tsunami of “underwater” mortgages, potential home buyers still view the Sunshine State as paradise.

Among the top 10 metro areas nationwide where demand among online house hunters is strongest, seven are in Florida, according to real estate website Trulia.com.

To see where online house hunters are looking click here.

Hear the Eco: Village of Pinecrest Incentives for Green Building and Remodeling

2012-02-02T09:33:00.002-05:00

By Guest contributor, Melanie Dawn Wood, Sales Associate, Coldwell Banker Residential Real Estate Pinecrest office

The Village of Pinecrest is dedicated to a more energy-efficient and environmentally sustainable future for its residents. For instance, at the municipal level, the Village has enacted “green purchasing” and “recycling initiatives” for the municipal center and parks. In addition, the Village’s “Green Action Plan” pledges to reduce greenhouse gas emissions to 7% below the 1996 levels by 2014.

But your Village didn’t stop there. Recognizing that, as noted by the US Green Building Council, remodeling your existing home “is inherently greener than building a new one,” Village of Pinecrest also offers incentives for builders and homeowners to go green with those remodeling/retrofitting projects. Ordinance 2011-5 provides expedited permitting and rebates of permitting fees if your remodeling project meets any of the many certification requirements from the Us Green Building Council, the Florida Green Building Council, Green Globes “Green Building Initiatives” or federal Energy Star standards. Permit fee rebates range from 15% up to 30% depending on which green certification is achieved.

The incentives provided by the Village of Pinecrest are in addition to the many tax credits, rebates and other incentives available to homeowners at the state and federal levels, including the 30% federal tax credit on your personal tax return for qualifying green remodeling projects.

So before you start your next remodeling project, be sure to contact Village offices for details because green remodeling/retrofits save money on your utility bills, are better for your health and the environment, and will help increase your re-sale value.

In a NutShell: Spreading the Good NEWS in 40 Seconds

2012-02-01T09:44:00.000-05:00

Contributed by Ingrid Carlos, Manager, Coldwell Banker Residential Real Estate Hollywood office

Buffet CEO on the Real Estate Recovery Summary:

The fact is that although housing has been under a lot of stress there are emerging signs of recovery. What are the tipping points?

Rents have finally exceeded the cost of home ownership; this is going to cause people to re-think their choice of Renting vs. Buying.

Overall in the last couple of months we have begun to see an increase in home sales activity.

Inventory overall is off about one-third from its peak.

As we move more into a balanced equilibrium we may start to get price stabilization and see some positive price growth towards the second half of the year. In Miami there was 10 years of inventory about 2 years ago and now there is not enough. The inventory will come now that homeowners start to think that they can sell their home without giving up too much of a price forgiveness.

We are seeing price stabilization in markets across the country but Miami is used as an example as the most outrageous and most positive.

Coldwell Banker CARES Gives Back

2012-01-30T11:16:00.002-05:00

By Guest Contributor Judy Campo, Manager, Coconut Grove office of Coldwell Banker Residential Real Estate

Coldwell Banker Residential Real Estate LLC is the largest real estate brokerage company in Florida and we believe in giving back to the local community through Coldwell Banker CARES by providing charitable contributions to a wide array of non-profit organizations in the neighborhoods we serve.

This year we are pleased to present 17 charities with checks totaling $46,000. Agents contribute their time, talent and treasures to help ensure a brighter future for underprivileged children, cancer and diabetes research, feeding the elderly and other worthy non-profit organizations. Many of our sales associates support CARES by donating a percentage from each closed sale.

February 6-18, we are volunteering our time to construct an affordable home for a deserving family who will also participate in the build through Habitat for Humanity of Greater Miami where ten homes will be built in ten days at Habitat Oaks in Liberty City.

In May, we will be having our Second Annual Golf Tournament and Silent Auction, our largest fund raiser of the year! This is an exciting time for us and I wish to thank all of our managers, staff and associates who unselfishly work toward this goal!

2012-01-23T12:23:00.003-05:00

The Jills(R), Florida's #1 residential real estate team in sales volume, recently made national news with their latest listing.

Drake, the rapper and Grammy-nominated recording artist who currently holds the spot for #1 rap album in America, put not one, but two, of his Miami apartments on the market and choose Coldwell Banker Residential Real Estate's top-Florida team to find a buyer. The side-by-side units, 4906 and 4905 in the Marquis Residences, both boast 20-foot-high ceilings with waterfront views, glass walls and marble staircases, and can be combined as a single apartment to create 5,475 square feet of living space. The total asking price? $2.5 million (the larger 4906 is selling for $1.9 million, while 4905 is priced at $599,000.

"Both units are just stunning," says listing agent Jill Hertzberg. "Everything is state-of-the-art, from the kitchen with oversized Viking appliances, to the two-story, soaring living rooms -- mesmerizing views."

The apartments are located in one of Miami's most "elegant" buildings on Biscayne Boulevard, featuring A-list amenities such as a spa and fitness center, an open-air sky pool deck, state of the art meeting room facilities and private elevators.

To read AOL Real Estate's article on Drake's Miami digs, click here.

Coldwell Banker Unveils Lineup for 2012 Gen Blue Experience

2012-01-18T16:21:00.002-05:00

This year at the “Generation Blue Experience” event, Coldwell Banker professionals will converge on the New Orleans Convention Center from Feb. 29 to March 3, 2012 to exchange ideas, enjoy primetime entertainment and take time to recognize outstanding accomplishments among their colleagues. Below is one of the many attractions for this year's lineup.

Housing Town Hall

This Coldwell Banker event will feature a “Housing Town Hall,” headlined by renowned former presidential advisors Karl Rove (R) and Robert Gibbs (D), who will share their unique experiences from the White House inner circle. Rove and Gibbs will go head-to-head in a politically charged discussion on critical issues shaping the 2012 election, including housing.

“With 2012 being an election year, it is the perfect time for us to bring together two recent presidential advisers from each side of the political aisle to go head-to-head and discuss the extent to which they believe that real estate will be on the minds of the candidates and the American people,” said Budge Huskey, president and chief operating officer, Coldwell Banker Real Estate LLC. “Our brokers and agents are in for a treat.”

To see the rest of the lineup for the 2012 Gen Blue Experience, click here

2012-01-12T12:27:00.002-05:00

Recently, Forbes.com posted as article entitled “Trulia’s Real Estate Crystal Ball for 2012,” in which Trulia’s chief economist, Jed Kolko, gave his thoughts on where the housing market will go in 2012. One of his predictions applauded Texas, specifically Austin, Houston, Fort Worth and San Antonio, for their steady job growth and construction revival.

Kolko writes:

“Smart cities are hot. In 2012, the local housing markets that will enjoy rising prices, new construction or both, are those that start the year with stronger job growth and fewer empty homes holding back the market. Based on these factors, along with other leading indicators, here are my top five cities to watch:

• Austin, TX, and Houston, TX. The bloom’s not off the yellow rose of Texas. Steady job growth and a construction revival make Austin and Houston two of my five cities to watch. Texas isn’t hung over from the housing boom like the other big states of the South and West, so there’s little to hold back growth. Honorable mention to Fort Worth and San Antonio.”

To see the other four cities, and read the entire article, click here.

2012-01-06T15:51:00.002-05:00

Coldwell Banker Residential Real Estate is proud to announce that Miami Beach sales associates, “The New Wave of Real Estate,” group, along with Nancy Corey, branch manager at the Miami Beach office, will be featured speakers at the company’s Generation Blue Experience in New Orleans on February 29 through March 3, 2012.

“The New Wave of Real Estate” is a group of young REALTORS®, who use the latest technologies and social media tools to market properties to the masses. Brought together by branch manager Corey because of their youthful energy and passion for business, “The New Wave of Real Estate” created a concept called the “Social Media Hot Spot,” a technique that utilizes collaborative efforts in order to connect the group’s social media networks. With each member of the “New Wave Group” harnessing their Facebook®, Twitter ® and LinkedIn® networks, they are able to expose property listings to over 15,000 people in under 15-minutes.

Watch a video of “The New Wave of Real Estate” at work here.

Coldwell Banker Residential Real Estate’s Danny Hertzberg Named to Forbes Magazine’s “30 Under 30”

2011-12-20T09:26:00.003-05:00

Coldwell Banker Residential Real Estate is proud to announce that Danny Hertzberg, sales associate in the Miami Beach office and member of South Florida and Miami Beach’s leading luxury real estate team, The Jills®, was named to Forbes magazine’s “30 Under 30: Real Estate” list. In 2011,Hertzberg, a Miami Beach native, closed a total of 39 transactions totaling over $43 million in sales volume.

Hertzberg has already reached a remarkable level of sales production in a very short period of time, and has been instrumental in forming “The New Wave of Real Estate,” a group of young REALTORS® who use the latest technologies and social media tools to market properties to the masses. “The New Wave of Real Estate” has created a concept called a “Social Media Hotspot,” a technique that utilizes collaborative efforts in order to harness the group’s social media networks, such as Facebook®, Twitter® and LinkedIn® to expose property listings to over 10,000 people in under an hour.

“Danny Hertzberg is a focused, disciplined and highly skilled individual who has the unique ability to combine personal attention to his clients while utilizing his expertise in negotiating,” said Nancy Klock-Corey, branch manager at Coldwell Banker’s Miami Beach office. “He is a natural leader who emanates a personal interest in everyone surrounding him, and to whom peers, community leaders, customers and clients are drawn Danny is truly a gifted and inspiring young man.”

To view the complete list, click here.

At What Price Should I List My House?

2011-12-14T10:23:00.007-05:00

By Guest Contributor Chris Maccarone, Branch Manager, Coldwell Banker Residential Real Estate Coral Springs office.

The price at which you list your property may significantly affect the ultimate selling price and the time it will be on the market. Although your motivation is a factor, the list price should be established only after careful consideration has been given to the reasonable range of value indicated by a Realtor’s Competitive Market Analysis.

The best time to sell your property is when the house has just been placed on the market.Overpricing may cause you to lose this valuable period. The following are some of the reasons why listing your property at too high a price is not in your best interest.

The wrong prospects look at the house, if any at all. People not only buy in price ranges, they also look in price ranges.
Realtors don’t want to lose credibility with their buyers by showing the overpriced listings.
Realtors know from experience that fair offers on overpriced houses are often rejected.
The house may become overexposed and shopworn. Potential buyers begin to assume there is something wrong with the house.
Even subsequent price reductions do not regain the lost market. Many qualified buyers who inspect overpriced listings decide at that point to eliminate that house from further consideration. It is often difficult to interest them again at a later date.
When people see that a house has been on the market for a long period, they assume they can get a bargain and extremely low offers are likely.
Overpriced listings help sell those houses that are properly priced.
Today’s buyers are knowledgeable and may ask for a Market Analysis from their Realtor prior to making an offer.
Institutional lenders are knowledgeable. Most purchasers require some form of institutional financing and this requires an appraisal by the lender.
While overpriced properties may eventually sell, they usually sell for less than if they were properly priced when first offered for sale.

Bottom-Line: If you want to sell your home in the shortest possible time, at the highest price and with the least amount of inconvenience to you, price your home to sell at the beginning…you’ll get great results!

Coral Gables Market Snapshot

2011-12-12T09:51:00.000-05:00

By Guest Contributor Charlette Seidel, Co-Manager, Coldwell Banker Residential Real Estate Coral Gables office.

Our weather is exceptional and so is our real estate market! November brought an increase in activity over October and the activity has continued into December. The Miami market again posted the highest sales increases of any major metro area for condominiums and all single family home markets in Florida.

Strong demand from international buyers is fueling robust sales activity in Miami. Short sales and foreclosures continue to have an impact on the market; short sales have a higher rate of approval currently in a faster time frame. The key is to have a great negotiator on the Seller’s side.

The Coral Gables market has 275 listings currently, 71 pending sales that are not closed and 16 closed in November. Most likely we will see more homes hit the market in January 2012.

Market Snapshot: Aventura

2011-12-09T08:00:00.002-05:00

By Guest Contributor, Mike Brunnberg, Manager, Coldwell Banker Residential Real Estate Aventura office

The current real estate market in Aventura offers a spectacular selection of the most gorgeous residences in South Florida. With 11.6 months of inventory in the $200,000+ price range, the average price per square foot through October is $194 which represents an increase from 4.1% from last month and 10% from a year ago. Properties are taking slightly little longer to sell, compared to a year ago, with the average Days on the Market increasing from 111 to 116. The average sales price is $263/square foot; however, the average price on the market is $645/square foot.

The most active price point is the under $300,000 price range, with limited inventory in solid buildings with good operating associations and no assessments.

If you’re considering the Aventura market, there’s nothing quite like it. I invite you to explore a complete list of available properties at www.Floridamoves.com/Aventura.

Data supplied by Trendgraphix based on information from the Southeast Florida Multiple Listing Service pulled on December 2, 2011.

Happy Holidays from Key Biscayne!

2011-12-07T08:05:00.000-05:00

By Guest Contributor, Susie Abell, Manager, Coldwell Banker Residential Real Estate Key Biscayne office

www.Floridamoves.com/KeyBiscayne

As this is being written in mid-December, it’s currently 85 degrees outside, the sun is shining, the ocean is calm and inviting, the fish are biting, and one might think it’s just another day in paradise.

Well, it is…AND the holiday spirit is alive and well as children of all ages play soccer on the Village Green, swim races at the Community Center and take advantage of the newly renovated playground…right next to Key Biscayne’s beautiful seasonal display which includes a giant Christmas tree and a large menorah.

Key Biscayne offers all kinds of holiday festivities from Santa making a visit to The Square Shopping Center to the Winterfest Boat Parade to a multitude of religious celebrations. It’s a special time of year as families and friends gather in this “winter wonderland” and enjoy each other’s company.

ASK and you shall receive…

2011-12-06T08:00:00.000-05:00

By Guest Contributor, Susie Abell, Manager, Coldwell Banker Residential Real Estate Key Biscayne office

www.Floridamoves.com/KeyBiscayne

The Key Biscayne lifestyle appeals to everyone…especially if you want to lead an active one.

One very active segment of Key Biscayne’s population is thanks to the ASK Club. Active Seniors on the Key is a thriving organization that provides social, fitness, volunteer and other opportunities for its members. It receives funding from the Village of Key Biscayne Council.

Those who want to be fit can take advantage of the Enhance Fitness and Matter of Balance programs. The Enhance Fitness program focuses on strength training, low-impact aerobics, balance and flexibility skills all done to music of ‘60s, ‘70s and ‘80s. It draws great participation and is conducted at the Community Room at the Village administrative building.

There are also numerous volunteer activities that have been organized by the ASK group..from raising money to help underprivileged children and families across South Florida to help in the classroom, read to kids, offer tutoring, do clerical work, etc. at the Key Biscayne K-8 Center.

And, of course, when you’re not participating in an ASK activity, you can take advantage of the many outdoor opportunities the Key Biscayne lifestyle offers. It’s definitely a special place to call home!

For more information about the ASK Club or living on Key Biscayne, call 305.361.5722.

Unemployment Drops to 10 percent in South Florida

2011-12-05T14:40:00.000-05:00

South Florida's unemployment rate dropped to 10 percent in October from 10.7 percent in September. The state's unemployment rate hit 10.3 percent in October, down from 10.6 percent in September – the lowest unemployment rate in 28 months, according to an article by Kevin Gale, Editor in Chief, South Florida Business Journal.

While the change in unemployment rates may seem painfully slow, unemployment in South Florida is down 1.8 percentage points from October 2010.

This has happened while the region's workforce has grown by 21,772 to hit 2.92 million. Economists have worried that growth in the workforce, such as previously discouraged workers re-entering the labor market, could cause the unemployment rate to actually rise as the economy improves.

Employment in the region has grown by 72,890 over the past year, including 24,510 in October alone.

Broward County had the region's lowest unemployment rate, at 8.9 percent, down from 9.4 percent in September. It was followed by Palm Beach County, at 10.3 percent, down from 10.9 percent, and Miami-Dade County, down to 10.7 percent from 11.5 percent.

Statewide, the job gains were led by hospitality and leisure, up 39,400 jobs over the past year.

Florida Markets Dominate REALTOR.com Top Ten Turnaround Report

2011-12-03T08:15:00.001-05:00

Realtor.com has just released its "Top 10 Turnaround" report, which lists real estate markets that are making recoveries, and Florida cities dominate the list, comprising six of the top 10--specifically, Miami, Orlando, Fort Myers-Cape Coral, Fort Lauderdale, Sarasota-Bradenton, and Lakeland-Winter Haven!

Have you seen a turnaround in your market?

For the full Realtor.com report click here.

Kids Take on Real Estate (video)

2011-12-02T08:15:00.001-05:00

Coldwell Banker Real Estate asked some children what their thoughts were on various aspects of real estate. Their responses are pretty priceless. Check it out here.

Florida Regions rank high for real estate turnaround

2011-12-01T08:00:00.000-05:00

Sarasota-Bradenton and five other Florida markets made a list of metropolitan areas leading the nation's real estate recovery according to a recent article in the Herald Tribune.

The local market was No. 6 on Realtor.com's "Top Ten Turnaround Towns" list, released on Nov. 16.

The North Port-Bradenton-Sarasota area scored higher — No. 1 — on Trulia.com's "Metro Movers Index," released on the same date.

That calculation by the Internet real estate site, which logs 100 million property views each month, found six times as many "inbound" home searches by outsiders for this region as "outbound" by local residents.

The two lists were affirmations of what many in the region's real estate industry already knew: that the Southwest Florida real estate market is showing a dearth of home inventory harkening back to the boom, that prices have been stable for nearly all of 2011, and that hungry investors from both the United States and abroad continue to actively scour the region for bargains.

The Realtor.com analysis found that:

• Sarasota-Bradenton attracted 11 percent of Florida's international buyers.

• List prices in the market are up 17.5 percent from 2010.

• The number of days a home spends on the market before being sold is down 32 percent.

For full article by Harold Bubil go here

According to Study: Stimulus plan supports 50,000 Florida jobs

2011-11-30T08:22:00.000-05:00

In Florida, 49,000 jobs were created or saved by the federal stimulus plan launched in 2009, but the number of jobs it is supporting has been on the decline, according to a report from the Collins Center for Public Policy.

The nonprofit organization hired Don Winstead – previously the special adviser to former Gov. Charlie Crist tasked with implementing the American Recovery and Reinvestment Act in Florida – to conduct the study. Current Goernor Rick Scott, an opponent of the stimulus plan, closed the state website that tracked its impact.

Click here to see more results from the study.

Fannie Mae, Freddie Mac Facing Huge Pay Cuts

2011-11-29T14:55:00.002-05:00

According to the Washington Business Journal, the House Committee on Financial Services voted on a measure that could put a serious damper on the holiday gift buying plans of District-based Fannie Mae and McLean-based Freddie Mac employees.

The House Committee on Financial Services voted 52 to 4 on a bill that would align the compensation at the mortgage giants, which have been under government conservatorship since 2008, with that of federal employees. This would slash pay at the companies which, have been known for shelling out Wall Street sized compensation packages in an attempt to lure the brightest minds in finance.

The Equity in Government Compensation Act would, according to a press release from the Financial Services Committee, stop future bonuses and suspend multi-million dollar compensation packages.

Click here for the full Bryant Ruiz Switzky article.

Realtors….Have You Even Been to a REBAR Camp?

2011-11-22T14:43:00.004-05:00

By Guest Contributor Dori Longhini, Manager, Coldwell Banker Residential Real Estate Plantation Lakeside office

www.Floridamoves.com/PlantationLakeside

If you haven’t, here is your chance. There will be a REBAR Camp held on Wednesday, November 30th at 8:30AM - 4:30PM at Christine Lee’s at Gulfstream Casino complex and the event is FREE.

These are freeform, no structure events and there is no sales pitch. It is an opportunity for like-minded real estate professionals to have a casual, yet productive dialog about topics of value or concern within the scope of business. There is lots of tech talk, including social media and new and fresh ways to communicate.

Enjoy breakfast and lunch…stay as long as you like. Rotate to different topics at the end of each session.

I have been to the ones in that the Florida Realtors have done in Orlando. They are fast-paced and great ways to network and learn at the same time.

This event is being held in a beautiful setting…I am sure you will like it.

Previews Showings Up in Northeast Ft. Lauderdale

2011-11-21T13:46:00.003-05:00

There has been a lot of Previews property ($1M plus) showing activity in the NE Fort Lauderdale area. The Coldwell Banker Residential Real Estates Previews Specialists are showing more property in this area than have been shown in the last two years. This area has always been one of the most sought after locations and now buyers are feeling like this is the time to purchase. The prices seem to be slowly rising in this area. We are seeing more Preview properties come on the market as our foreclosures start to disappear. Our Previews properties in NE Fort Lauderdale include some of the most gorgeous dream homes imaginable.

To see some of the beautiful properties available in NE Ft. Lauderdale please go to our office website www.floridamoves.com/ftlauderdalenortheast.

Contributed by Jay Chernoff, Manager, Coldwell Banker Residential Real Estate Ft. Lauderdale NE office.

Miami Panel Divided on Gambling

2011-11-17T15:29:00.002-05:00

About 200 people attended the Greater Miami Chamber of Commerce 's Destination Gaming – Is it in the Cards? event, moderated by CBS4’s Elliot Rodriguez.

During the panel discussion on gambling at Miami's Jungle Island, state Sen. Ellyn Setnor Bogdanoff said gaming has been creeping into Florida for years, and her bill attempts to provide strategic direction for the industry.

Supporters of gambling say that the fact that Miami is already a destination for tourists and that industries including trade, biotechnology and art drive the economy will help it avoid a Las Vegas-like, neon-induced possession.

Some panelists at event, held at Jungle Island on Monday, voiced this position, including state Rep. Erik Fresen, R-Miami, sponsor of the bill the Florida Legislature will soon begin vetting.

He said it was time Florida residents had an adult discussion about gaming and faced the reality that not only is it all around us, but that the state has been selling it “on the cheap” for years by ignoring it. The gateway gambling vehicle for the state has been the lotto, which grows in its reach every time a Publix opens, he said.

Click here for the full South Florida Business Journal article by Oscar Pedro Musibay.

How do you feel about the issue?

Amid Oil Price Standstill, South Florida Gas Prices Decline

2011-11-16T08:47:00.002-05:00

As oil prices reached a standstill with positive U.S. economic news conflicting with the failure of a European debt crisis agreement, South Florida gas prices declined slightly last week.

According to the AAA Fuel Gauge Report, the price of crude oil continued on an upward trend, rising 94 cents to close Friday at $94.26 on the New York Mercantile Exchange.

"Oil prices are stuck between an uncertain future for Europe's financial system and glimmers of hope for an economic recovery in the U.S.," AAA Auto Club Group spokeswoman Jessica Brady said in a news release. "Despite the slight increase in oil prices and the market's bullish sentiment, retail gas prices have actually decreased through the past couple of weeks. Reports from the Department of Energy show stagnant fuel demand numbers and weekly gasoline deliveries are 4 percent behind last year’s numbers. Unless oil prices make significant gains this week, consumers may find minimal changes in prices at the pump."

South Florida fuel average details:

Miami: A gallon of regular unleaded gasoline was $3.48 a gallon, down from $3.50 a week ago and up from $2.87 a year ago.
Fort Lauderdale: Regular unleaded was $3.46 a gallon, down from $3.49 a week ago and up from $2.86 a year ago.
West Palm Beach/Boca Raton: Regular unleaded averaged $3.50 a gallon, down from $3.52 the previous week and up from $2.92 a year ago.
Florida’s average price of $3.39 is 3 cents less than last week.
Florida’s average price of $3.39 is 3 cents less than last week, while the national average price of unleaded regular gasoline dropped 4 cents to $3.41 a gallon.

Click here for the full South Florida Business Journal report

“The Jills®” Add Dedicated Russian and Brazilian Desks

2011-11-10T15:44:00.001-05:00

Coldwell Banker Residential Real Estate’s #1 real estate team in Florida, Jill Eber and Jill Hertzberg of The Jills®, are proud to announce that they have added dedicated Russian and Brazilian desks to cater to the growing Russian and Brazilian markets in the Miami area. Gregory Feldman, who is from Moscow, is the dedicated Russian agent and Wilza Prado, from Brazil, is the dedicated Brazilian agent. Both have been successful agents for many years. Since January of this year, The Jills® have over $200 million in sales. With the influx of international buyers, that number is expected to greatly increase.

“The Russian market looks to Miami now as their winter Riviera and they are buying large properties,” said Jill Eber. "The Brazilians are coming in large numbers also and are buying in all layers of the luxury market. We have been working with many Russians and Brazilians, exposing them to our properties. To better assist them, now and in the future, we have added dedicated desks to make their property transaction as smooth and comfortable as possible.”

Russian and Brazilian home buyers have been buying in upscale areas like Miami Beach Islands, Fisher Island and Indian Creek Island, and according to the 2011 Profile of International Home Buyers in Florida, 77 percent of Realtors® reported that they have worked with an international client in the past 12 months, and the Miami/Fort Lauderdale/Miami Beach market area represented 30 percent of the international home buys in the state.

The affluent Russian and Brazilian buyers are really being drawn to Miami right now, according to Jill Hertzberg. “The lifestyle, the safety and the weather are just some of the benefits that make Miami the ‘in’ place to be for these international clients.”

Coldwell Banker: Issues and Answers

2011-11-09T12:45:00.011-05:00

Coldwell Banker recently held three Issues and Answers sessions in Dade and Broward. These special events attracted nearly 200 Coldwell Banker Associates to hear their peers discuss best practices. Topics included getting sellable listings and pricing them properly, finding qualified buyers and getting them to make realistic offers, and overcoming challenges with closing transactions.

Thank you to the following associates who gave freely of their time and shared their expertise:

Elba Hernandez, Kendall office, Daniel Hertzberg, Miami Beach office, Julia Pulles, Kendall office, Gary Feix, Coral Gables office, Michael Greene, Kendall office, Judy Wolf-Seigel, Pinecrest office, Dondi Hopkins, Plantation office, Steve Kaminer, Coral Springs office, Michelle Ali – Plantation, Patricia Lewis, Weston office, David Caporini, Coldwell Banker Home Loans, Jason Winder, Sunbelt Lending, Sharon Edelman, Coral Springs office, Dean Sklar, Weston office, Andrea “Andi” Wites, Coral Springs office, Stuart Berger, Aventura office, Natalie Bojarski, Hollywood office, Jonathon Keith, Ft. Lauderdale NE office, Jan Overton, Ft. Lauderdale Beach office, Richard Schultz, Ft. Lauderdale SE office and Cindy Spoerr, Hollywood office

Additionally, Henry Ensler from Sunbelt Title was on hand to discuss contract issues, such as FIRPTA, title selections and deadlines. In addition, David Caporini and Daniel Eguiguren of Coldwell Banker Home Loans and Russ Smith of Sunbelt Lending actively participated in the panel. Rochelle Fraga was also present to update Associates on the many Coldwell Banker marketing tools available to support their efforts.

Having top Associates who are making things work in these challenging times helped other Associates understand they are not battling these issues alone and there are solutions to many of these challenges.

A Boost for South Florida's Job Market

2011-11-08T15:03:00.003-05:00

According to the South Florida Business Journal, officials of the Seminole Casino Coconut Creek have announced that they plan to hire 800 full-time employees by the end of the year – the largest mass hiring in South Florida since the tribe's resort in Hollywood had a hiring spurt in 2004.

The Coconut Creek casino already lists job openings for assistant managers, cocktail servers, chefs, player development executives, sous chefs, a warehouse supervisor and a slot technician.

Riding For a Cancer Cure

2011-11-04T11:15:00.003-04:00

Last year the Miami Dolphins inaugurated the Jim Mandich Dolphins Riding Challenge, a 170 mile, two day round trip bike ride to Palm Beach. They raised $533,000 with 100% of the funds going to the University of Miami Sylvester Comprehensive Cancer Center.

Coldwell Banker’s own Sandy Levinson, a Sylvester patient herself and Tom Levinson, who serves on the Board of Governors at Sylvester are sponsoring one of our own in her efforts to raise money for this important cause.

Coldwell Banker Residential Real Estate Sales Associate, Kristina Cunetta, is a long term thyroid cancer survivor at Sylvester and an experienced long distance cyclist. Kristina has committed to riding the full 170 miles on November 5 and 6 to raise money for cancer research.

Please join in the fight to cure cancer and show your support by donating online at www.ridecc.com and donating under Team Sylvester. You will receive a receipt from the Dolphins and your donation will be posted to the website with your name. 100% of ALL donations will go to Sylvester for cancer research.

Miami Market Moves Forward with Sales and Prices

2011-11-03T08:55:00.002-04:00

Sales of residential property in Miami, Florida, keep rising as the area’s record sales activity leads the real estate recovery, according to a recent article on www.propertycommunity.com.

Sales of existing single family homes in the Miami Metropolitan Statistical Area (MSA) went up 46% in September, as figures from the member Miami Association of Realtors indicate.

According to the National Association of Realtors (NAR), sales of existing condominiums increased 58 and statewide sales increased 10%. Nationally, sales of existing single family homes, townhomes, condominiums, and co-ops went down 3% from the previous month and but were 11.3% above September 2010.

Miami Home Sales Spike 46% in September

2011-10-31T15:21:00.001-04:00

Sales of existing single-family homes in the Miami Metropolitan Statistical Area (MSA) rose 46 percent in September, from 582 to 848, compared to September 2010, according to the Miami Association of Realtors. Sales of existing condominiums went from 833 to 1,319, an increase of 58 percent, as compared to September 2010.

Statewide, the sales have increased 10 percent to 15,036 for single-family homes and 10 percent to 6,666 for condominiums, as compared to September 2010. National figures show sales of existing single-family homes, townhomes, condominiums, and co-ops declined three percent from the previous month and but were 11.3 percent above September 2010, according to the National Association of Realtors (NAR).

Click here for the full World Property Channel article by Michael Gerrity.

Major Revamp of Home Lending Program

2011-10-27T15:14:00.000-04:00

In an effort to breathe new life into a sagging economy, President Obama will attempt an executive branch rescue of homeowners trying to refinance underwater mortgages, with a new initiative that lets people with little or no equity get a better interest rate at a reduced cost, as reported by foxnews.com.

In the first in a series of announcements expected this week by the president, this initiative applies to homeowners with federally guaranteed mortgages who are current on their payments.

The revamped Home Affordable Refinance Program, which aims to avert foreclosures, is expected "to encourage new, lower-cost loans" to more homeowners who are paying more than the value of their properties, a senior administration official said ahead of Obama's Monday announcement.

Record Condo Activity in Miami

2011-10-25T15:06:00.000-04:00

According to a National Association of Realtors report released recently, sales activity in Florida rose by jumped 10 percent in September for both condominiums and single-family homes as compared to the same time last year, thanks largely to huge increases in South Florida sales volume.

The Miami area condo market showed the greatest strength of any market in the state, as prices are on the rise and activity is at a record pace. The median Miami condo price spiked 17 percent since last September, while activity rose 58 percent, bringing the 2011 sales pace to 29,000 transactions. According to the Miami Association of Realtors that would surpass the record set in 2005 (although condo sales prices still remain far below those witnessed during the peak). Also performing well, Miami single-family homes, as sales volume increased 46 percent year-over-year, although the median price dropped some 6 percent to $131,000.

Richard Smith Included in SmartMoney Magazine's "Power 30"

2011-10-19T10:25:00.001-04:00

SmartMoney magazine just released their "Power 30," which includes some of the world's most influential players in the arenas of finance, jobs/economy, world affairs and industry/innovation among others. Making this year's list was our very own Richard A. Smith, CEO of Realogy.

The article states:

“Few real estate executives can boast that their firm played a role in one in every four home sales (involving a broker) in the country last year. But as head of the real estate conglomerate that counts Century 21, Coldwell Banker and Sotheby's International Realty among its brands, Smith, 58, can say precisely that. The company's brokerage operations accounted for $113 billion in residential sales volume last year -- more than three times what the second-largest brokerage pulled in.”

Smith is among great company on the list – others featured in the article include Ben Bernanke, Lady Gaga and Chris Cook, the CEO of Apple.

Gas Prices Down in South Florida

2011-10-17T08:00:00.000-04:00

According to Kevin Gale of the South Florida Business Journal, Florida’s average price of $3.35 was down 4 cents from last week.

The price for regular unleaded was down in all three South Florida counties, according to the AAA South Fuel Gauge report:

In Miami the price was down to $3.44 from $3.48.
In Fort Lauderdale the price was down to $3.46 from $3.50.
In Palm Beach the price was down to $3.48 from $3.51 to $3.48.

The national average price of regular unleaded gasoline is $3.39 a gallon, 3 cents less than last week.

Mizner Park to get Luxury IPic Movie Theater

2011-10-14T08:00:00.000-04:00

IPic Entrtainment has confirmed that the Mizner Park Cinema, closed since December for renovations, will reopen as an upscale IPic Entertainment Center.

Boca Raton-based IPic Entertainment, is known for its over-the-top theaters featuring oversized loveseats, wall-to-wall curved screens, high-definition digital sound and free valet parking and popcorn. Guests have the ability to order from a full bar, with food and drinks served during the film.

"We have always believed in leading the industry with state-of-the-art technology when it comes to moving making and movie watching and will be offering 3D technology at this theater," the company said.

Read more of Susan R. Miller’s story here.

International Buyers are Still Coming to Miami

2011-10-13T08:00:00.000-04:00

While our neighbors in Canada and Latin America have made a sizable dent in South Florida's real estate market, a large amount of residential sales continue to come from Europe and South America.

In the second part of a three-part report on foreign buyers in South Florida, The Real Deal looked at how a number of Venezuelan buyers were coming to the area not necessarily for bargains, but for safety and security in as a result of an uncertain political situation at home. In the first part, The Real Deal looked at how almost half of Brazilian buyers pay less than $500,000 for their Florida purchases.

Buyers from Western Europe accounted for 11 percent of the foreign real estate buyers statewide in 2010, according to data from Florida Realtors.

Rates Fall to a Record 4.01% for 30-year Mortgages

2011-10-12T11:42:00.002-04:00

As of the beginning of this month, fixed mortgage rates had fallen to historic new lows for a fourth straight week and seem likely to fall further.

The average on a 30-year fixed mortgage fell to 4.01 percent from 4.09 percent this week, Freddie Mac said Thursday. That’s the lowest rate since the mortgage buyer began keeping records in 1971. The last time long-term rates were lower was in 1951, when most long-term home loans lasted just 20 or 25 years.

The average on a 15-year fixed mortgage, a popular refinancing option, ticked down to 3.28 percent. Economists say that’s the lowest rate ever for the loan.

Do you think this is the lowest that the rates will go, or will they still go lower?

Coldwell Banker Residential Real Estate's Using Technology To Benefit Clients

2011-10-03T13:29:00.006-04:00

The Tampa Tribune recently did a feature on Coldwell Banker Residential Real Estate using social media, YouTube, QR codes and other tech-savy tools to stay connected with their clients.

According to the article, Coldwell Banker Residential Real Estate has taken the lead in providing its customers with up-to-the-minute information about their future homes, from searches, to offers, to closings.

Coral Springs Ranked Best Place to Live in Florida

2011-09-12T14:19:00.004-04:00

According to Money Magazine’s 100 Best Places to Live, Coral Springs ranked first in the State of Florida and 44th on the overall list.

This is the second year Coral Springs has ranked as the number one city in Florida and the third year it made the top 100 list. For the current year, the cities were ranked on attributes including economic opportunity, income, job growth and affordability, quality of life, crime, quality of schools, arts and leisure, park space and stress-related ailments.

Money magazine highlighted Coral Springs’ array of leisure and sports facilities, including the skate parks, Sportsplex, ice rinks and more. Coral Springs offers a large selection of restaurants and is on par with its museum offerings. Coral Springs also rated highly on safety, and was recognized for its excellent public schools, racial diversity, attractive home prices and air quality index.

The City of Coral Springs was the recipient of the Malcolm Baldrige National Quality Award in 2007 and is a two-time Governor’s Sterling Award winner for quality excellence. It was the first City of Excellence named by the Florida League of Cities and has also been identified as one of the 100 Best Communities for Young People by America’s Promise Alliance for Youth.

South Florida Ranks 10th for Adding Jobs

2011-09-09T08:00:00.000-04:00

The South Florida Business Journal reports that, according to an analysis of U.S. Bureau of Labor Statistics data, South Florida ranked 10th in the nation for adding 25,000 jobs for the year ended in July.

No. 10 rank on raw jobs sounds good, but South Florida actually ranks higher in terms of the nation's largest metro areas, coming in at No. 8. In terms of private sector jobs, the 1.87 million here ranks 10th.

July Home Sales Index Higher Than 2011

2011-09-08T08:00:00.000-04:00

Although the pending home sales declined in July they still remain well above year-ago levels, according to the National Association of REALTORS®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, slipped 1.3% to 89.7 in July from 90.0 in June. This is still 14.4% above the 78.4 index in July 2010. Only contracts, no closings are reflected in the data.

Click here for the full Glozal story.

Dolphins Day 2011

2011-09-07T14:43:00.003-04:00

Cheer on the Miami Dolphins and enjoy South Florida's best food trucks!

Join the City of Fort Lauderdale to kickoff the football season and rally our Miami Dolphins! New this year, enjoy a special tailgate treat with some of South Florida's best food trucks! This free pep rally takes place on Friday, September 9 from 4:30 to 7:30 p.m. in downtown Fort Lauderdale at Huizenga Plaza, located on the southeast corner of Las Olas Boulevard and Andrews Avenue. Highlights include special appearances from former Miami Dolphins players, live music by Jimmy Stowe and the Stowaways, cheerleaders, a kids zone, Dolphins mascot T.D., contests, prizes and much more!

Miami-Dade Pending Home Sales Continue to Rise

2011-09-06T16:29:00.003-04:00

According to a recent press release from the MIAMI Association of REALTORS®, July cumulative pending home sales, including single-family homes and condominiums in Miami-Dade County were 19 percent above what they were a year earlier, up from 10,113to 12,014, and .7 percent above the previous month, up from 11,936.

The total number of listings, including single-family homes and condominiums, that pended during the month of July increased 22 percent, from 2,759 in July 2010 to 3,359 in July 2011. Single-family home and condominium sales that pended during the month increased 25 percent and 20 percent respectively.

“Despite unnecessary restrictive mortgage credit and home appraisal practices, Miami continues to exhibit signs of a healthy and balanced real estate market,” said Jack H. Levine, 2011 chairman of the board of the MIAMI Association of REALTORS®. “Foreign buyers and investors have boosted the local market unlike any other in the state and the nation. A favorable lending and home appraisal environment would dramatically strengthen our market and improve consumer confidence.”

Social Networking Reaches New Milestone

2011-09-02T09:13:00.001-04:00

Social networking is getting even bigger. Half of all American adults now say they use a social networking site, according to the New York Times. Six years ago, only 5 percent of adults reported using social networking sites, such as Facebook, LinkedIn or MySpace.

Nearly 90 percent of women ages 18 to 29 years old use social networking sites, and young adults are twice as likely to use the sites every day as older adults. Overall, 83 percent of U.S. adults in the 18-29 age bracket say they use social networking sites, compared to 51 percent aged 50-64.

How often do you use social networking sites?

Number of Short Sales on the Rise

2011-09-01T14:49:00.002-04:00

Short sales are increasing as a percentage of home sales in many states, helping some neighborhoods and homeowners avoid the more devastating impacts of foreclosures, according to an article in USA Today.

Short sales accounted for 12% of home sales nationwide in the second quarter, up from 10% in the same period last year, says researcher RealtyTrac. The increases were sharper in some states, including California, Nevada, Michigan, Georgia and Colorado.

Bank of America, the largest home mortgage servicer, expects to complete more than 100,000 short sales this year — more than double what it did in 2009, the bank says.

In the second quarter, short-sale homes sold at a 21% discount to non-foreclosure homes, while bank-owned homes went at a 40% discount, RealtyTrac says. Short sales may also reduce losses for loan owners because they avoid full foreclosure costs. Borrowers may qualify for new mortgages sooner after a short sale than after a foreclosure.

Short sales peaked at 16% of the market in early 2009, RealtyTrac says.

Short sales completed in the second quarter took 245 days, on average, RealtyTrac says. In a June survey, 77% of California Realtors called short sales difficult or extremely difficult; 15% said clients were foreclosed on while pursuing short sales.

Miami Real Estate Market Gains Strength

2011-08-31T15:30:00.000-04:00

Sales of existing condominiums in the Miami Metropolitan Statistical Area (MSA) increased 54 percent, from 855 to 1,316, compared to June 2010 but decreased seven percent compared to the previous month, according to the 24,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. Sales of existing single-family homes rose 35 percent in June, from 686 to 923, and six percent compared to the previous month.

In June, 59 percent of closed sales were cash transactions. Cash sales accounted for 39 percent of single-family and 73 percent of condominium closings.

Statewide sales increased eight percent to 7,941 for condominiums and dropped four percent to 17,597 for single-family homes.

Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops decreased 0.8 percent from May and remain 8.8 percent below June 2010, according to the National Association of Realtors (NAR).

“The Miami market has taken a lead position in sales growth and strengthening compared to the rest of the nation,” said Jack H. Levine, 2011 Chairman of the Board of the MIAMI Association of REALTORS. “Current levels of supply and demand denote a healthy market that is expected to outperform others throughout the U.S. long-term. The demand from foreign buyers and investors, the expansion of the Panama Canal, and the vibrant tourism industry are just some of the factors that are expected to have positive effects on the local economy and real estate marketplace.”

Read more of Jonathan Hodgson’s article

Coldwell Banker CARES Golf Classic

2011-08-30T16:25:00.000-04:00

September 16th, Doral Golf Resort & Spa

Join Coldwell Banker Sales Associates and South Florida businesses at the First Coldwell Banker CARES Golf Classic which is scheduled for Friday, September 16. The Tournament will take place at the legendary Doral Golf Resort & Spa on the Great White Course, a Greg Norman Signature Course. Beginning at 7am, Player Registration fees cover Green fees/cart fees, individual goody bag, continental breakfast, post tournament BBQ buffet and access to the cares silent auction and raffle.

“This is our biggest fundraiser for the year and we are thrilled at the opportunity to raise thousands of dollars for local charities throughout Miami Dade,” said Judy Campo, CARES Manager for Coldwell Banker in the Southeast region.

Since 2001, over $3 Million has been raised and distributed to a wide array of non-profit educational, health, welfare, environment and cultural organizations.

To sign up as a player or sponsor, please contact Ronald Koffler at 305.588.6768 or Ronald.Koffler@floridamoves.com.

Happy Birthday Coldwell Banker!

2011-08-26T14:00:00.005-04:00

Coldwell Banker Real Estate LLC celebrates its 105th birthday, reflecting on the history of the brand and the changes to the real estate industry since the founding of the company on August 27, 1906 in San Francisco.

“As a brand, Coldwell Banker has navigated the real estate industry during two World Wars, the Great Depression and countless recessions,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “While the world and our industry are in a different place now than 105 years ago, the dream of homeownership is still alive and vital.”

Coldwell Banker was founded by Colbert Coldwell, and later Arthur Banker, in San Francisco, California to bring ethics and integrity to a real estate industry that had lost its way after the 1906 earthquake. Out of the ashes of a severe earthquake, Colbert Coldwell and Arthur Banker built the company from the ground up and began a legacy of excellent service for people buying or selling homes. Coldwell Banker Real Estate employees at the company’s headquarters in Parsippany, N.J., celebrated the occasion with a festive cake designed to reflect the company’s commitment to innovation and the development of new technology.

“We believe Coldwell Banker agents are the best in the real estate business and they exemplify that strong heritage of ethics and integrity established by Colbert Coldwell and Arthur Banker,” said Budge Huskey, president and chief operating officer, Coldwell Banker Real Estate LLC. “Coldwell Banker continues to advance the brand, and the industry, through innovation and technology that helps people find information about homes anytime and anywhere.”

As an innovative leader in real estate, Coldwell Banker has launched various new tools and apps over the past year that bring consumers fun and informative ways to engage in the home buying and selling process. Some of these include a new Real Estate App for iPad, On Location videos that provide a look into different neighborhoods from the comfort of home, as well as new tools for homebuyers in the properties section of coldwellbanker.com.

Housing Affordability Hovers Near Record Level

2011-08-24T14:48:00.002-04:00

Families earning the national $64,200 median income could afford 72.6% of all homes sold in the second quarter of 2011, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). Nationwide housing affordability hovered for the 10th consecutive quarter near its highest level in more than 20 years.

Homeownership is within reach of more households than it has been for more than two decades and interest rates remain at historically low levels. While the economy and tight credit conditions remain significant obstacles, many housing markets across the country have stabilized and are beginning to show signs of recovery.

What’s the affordability status of your neighborhood? Have price reductions made local properties more affordable, enabling current homeowners to sell, trade-up or relocate?

Ocwen unveils new principal reduction program

2011-08-18T08:00:00.001-04:00

Ocwen Financial Corp. (OCN: 12.76 -1.47%) launched a new modification program to reduce the principal on a mortgage for delinquent borrowers, while compelling them to share in the future appreciation of the home's value with the investor.

Mortgage modifications will only be available for homeowners in negative equity.

Atlanta-based Ocwen holds a $74 billion servicing portfolio after acquiring Litton Loan Servicing and HomEq. Ocwen launched the Shared Appreciation Modification program as a pilot in August 2010, a program the company believes will make a major dent in the roughly 14 million mortgages currently in negative equity, according to Moody's Analytics.

Through the program, Ocwen will write down qualified loans to 95% of the underlying property's market value. The amount written down is forgiven in one-third increments over three years as long as the homeowner remains current. When the house is later sold or refinanced, the borrower will be required to share 25% of the appreciated value with the investor.

"Like all modifications, SAMs help homeowners avoid foreclosure. But they also restore equity. That's a significant benefit to the customer and, we believe, the economy and housing market. Psychologically, it's important too," said Ocwen CEO Ronald Faris. "Our analytics tell us that an underwater mortgage is one-and-a-half to two-times more likely to default than one with at least some positive equity." Read more:

What do you think about this program?

Coldwell Banker office hiring for 12 positions

2011-08-17T16:48:00.002-04:00

Kate Rossi, NRT LLC's executive vice president, says the hiring means more support for the group's companies.

HERALD-TRIBUNE ARCHIVE / 2010 Staff Report

In the category of every little bit helps: Coldwell Banker Residential Real Estate Inc. is hiring 12 new employees for its Southeast Regional Support Center in this region.

The center -- providing back-office support services for three NRT brokerage companies operating under the Coldwell Banker name in Florida, Atlanta and Dallas-Fort Worth -- recently added Coldwell's Baltimore and Washington, D.C., companies to its base.

The Sarasota County operation provides marketing, finance, human resources, relocation, property management, facilities management and information technology services.

The relocation division handles more than 40,000 referrals each year, more than any other relocation division in the world, NRT says.

"This strategic expansion increases the resources available to each of our companies," said Kate Rossi, NRT LLC's executive vice president.

Job seekers can visit www.realogy.com, the home page for NRT and Coldwell's parent, for information and job postings.

Miami Real Estate Market Shows Most Activity in 5 Years

2011-08-17T08:00:00.000-04:00

Increased sales activity and slowly rising prices have had a positive impact on Miami’s current residential real estate market according to the new Douglas Elliman Report: Miami Sales 2Q 2011. The comprehensive and timely report analyses regional data on condos and single-family homes in Miami-Dade’s coastal communities and has been expanded to include a breakdown on distressed and non-distressed sales — defined as foreclosure and short sales. The report was commissioned by Douglas Elliman and produced by Miller Samuel, a long-trusted industry source.

“We’re pleased to note that the Miami non-distressed real estate market is beginning to stabilize after years of decline,” said Vanessa Grout, President and CEO of Douglas Elliman Florida. “This has been the most active market since 2006 and there are indications that prices, while mixed, will continue to trend higher in favored areas.”

The South Beach submarket is especially notable with both closed prices and sales up compared to the prior quarter. In Miami Beach and Downtown Miami, sales jumped as prices fell. In North Miami-Dade prices were mixed while the number of sales was up sharply. The high number of all-cash buyers is especially significant: They account for 78 percent of condo distressed sales, (presumably for investment) while in the non-distressed market, all-cash buyers, (mainly looking for second-homes) account for 71percent of purchases in the high-end condo market.

Read the full News Junky Journal article by Jonathan Hodgson

HUD: Apply Now for Sustainable Housing Money

2011-08-16T16:16:00.005-04:00

U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced that $95 million is available to support local initiatives to expand housing choices, improve connections between employment centers and homes, and reduce barriers to creating economically vital and sustainable communities.

HUD’s Office of Sustainable Housing and Communities oversees the Regional Planning and Community Challenge Planning Grant Program. Communities apply for the grants, which are awarded competitively.

This year’s program encourages grantees to support regional planning efforts that integrate housing, land-use, economic and workforce development, transportation and infrastructure developments that work together to revitalize a community. The program places a priority on partnerships – the collaboration of arts and culture, philanthropy and innovative ideas to the regional planning process.

There are two funding categories:

Group 1 funds: Used to support the preparation of regional plans for sustainable development.

Group 2 funds: Used to support efforts to modify existing regional plans so that they’re in accordance with the Partnership for Sustainable Communities.

Florida Consumer Confidence Up in July

2011-08-15T14:26:00.003-04:00

South Florida Business Journal reports that consumer confidence in Florida rose two points in July, to 68, according to a new University of Florida survey.

Four of the five components that make up the index increased or remained unchanged. The biggest improvement was in confidence to purchase big-ticket items such as cars and appliances, which rose five points, to 77.

“Some of this may have to do with declines in gas prices during the month of June and much of July,” said Chris McCarty, director of the Bureau of Economic and Business Research. “This leaves more money in people’s budgets for other purchases.”

Read the full South Florida Business Journal article.

West Palm event to help troubled homeowners

2011-08-12T10:27:00.004-04:00

Struggling homeowners in South Florida will have yet another opportunity to get a handle on options that don’t include foreclosure, reports Paul Owers of the Sun-Sentinel.

A free event will be held Aug. 19 in West Palm Beach at the Palm Beach County Convention Center. Fourteen large lenders will be in attendance, along with non-profit housing counseling groups.

The workshop, from 11 a.m. to 7:30 p.m., is sponsored by the nonprofit group Hope Now Alliance. It sponsored a similar event last year in West Palm with nearly 1,100 homeowners in attendance. A seminar in Hollywood last month drew about 1,300 people.

Some homeowners at these events get loan modifications on the spot. For a full list of what documents to bring, visit HopeNow.com or call 888.995.HOPE.

Home prices rise slightly

2011-08-11T14:15:00.002-04:00

After a nine-month plunge to new recession lows, South Florida home prices ticked upward in May as a rush of springtime buyers boosted values, according to Standard & Poor’s Case-Shiller 20-city housing index released Tuesday.

Home prices in the region including Miami-Dade, Broward and Palm Beach counties rose 1.2 percent between April and May, after falling 0.2 percent in April. Analysts believe the increase is mostly due to seasonal fluctuations and a strong spring buying season.

Read more of Toluse Olorunnipa’s report.

Miami Real Estate Market Gains Strength

2011-08-10T16:32:00.005-04:00

Sales of existing single-family homes rose 35 percent in June, from 686 to 923, and six percent compared to the previous month.

In June, 59 percent of closed sales were cash transactions. Cash sales accounted for 39 percent of single-family and 73 percent of condominium closings.

Statewide sales increased eight percent to 7,941 for condominiums and dropped four percent to 17,597 for single-family homes.

Read more of Jonathan Hodgson’s article

Real Estate Market to Receive Momentum from Gen Y

2011-08-09T15:07:00.000-04:00

Generation Y may help lead recovery for the real estate market.

The housing market has not received much positive news lately, as home prices remain low and distressed properties continue to make up a large portion of current inventories.

However, a new report says there will be improvements in the real estate market during the next decade, and these gains will be driven by well-educated individuals who are currently between 15 and 32 years old.

According to the University of Southern California Lusk Center for Real Estate, the age range, also known as Gen Y, is quickly becoming a larger representation of the country's population, rivaling the Baby Boomers.

Read the full article by Kay Lynn Clay.

New Grant for Military First-Time Homebuyers

2011-08-08T09:30:00.002-04:00

A new program offers financial assistance to first-time homebuyers who are veterans or active-duty military members. The Pentagon Federal Credit Union Foundation, a nonprofit national organization, offers the program through its Dream Makers program.

Active duty personnel, veterans, retired members of the military and employees of the U.S. Department of Defense and the Department of Homeland Security may be eligible for a grant up to $5,000 to use toward downpayments and closing costs if buying their first home. The grants can be applied to a mortgage issued by any financial institution.

“Members of the military often put off buying a home early in their careers because they’re moving around the country a lot,” says Kate Kohler, chief operating officer for the PenFed Foundation. “We want to make sure they have resources to add immediate equity into their home when they decide to buy.”

To view eligibility requirements, visit Pentagon Foundation.

How Many Homebuyers Have a 20% Down Payment?

2011-08-08T08:00:00.001-04:00

Submitted by Clark W. Toole III, President, Coldwell Banker Residential Real Estate and Coldwell Banker Commercial NRT, Florida

If changes proposed by Congress to the Qualified Residential Mortgage (QRM) under the Dodd-Frank Act are enacted, potential homebuyers seeking mortgage financing will need a 20% down payment to buy a home. Based on NAR estimates, a family with a median household income would need more than a decade to save a 20% down payment.

This will limit mortgage eligibility to a tiny sliver of potential buyers in today’s housing market, significantly lowering home sales and further reducing home prices throughout our market and the nation. Imposing a minimum 20% down payment, stringent debt-to-income ratio requirements and rigid credit standards will deny millions of Americans access to safe, low-cost mortgages, according to Coldwell Banker Residential Real Estate’s parent company, Realogy, and the National Association of Realtors® (NAR).

Regulators must reconsider the proposed down payment increase, as mortgages will also carry higher interest rates and fees, making homeownership more expensive or unattainable for many of today’s aspiring homeowners. As a leading advocate for accountability in homeownership, Coldwell Banker and Realogy agree with Congress’ intent to enact effective lending policies, as strong evidence suggests responsible lending standards and documentation ensuring a borrower’s ability to repay have the greatest impact on reducing lender risk, even more so than large down payments.

This proposed standard should be revised, enabling millions of hard-working, creditworthy consumers to achieve the “American Dream” of owning a home. Repeat buyers generally use the proceeds from their previous home sale to fund their subsequent purchase. However, the proposed large down payment requirements would undermine trade-up buyer efforts as fewer first-time buyers would be able to enter the market. This forces potential trade up buyers to stay in place, rather than selling their homes. As baby boomers begin to downsize, this impediment could stop the home buying and selling plans of a large segment of the population and reduce workforce mobility.

Realogy Corporation, the parent company of Coldwell Banker, has filed comments with the six regulatory agencies responsible for drafting rules regarding Qualified Residential Mortgage (QRM) under the Dodd-Frank Act. “We believe the current QRM definition that includes a down payment requirement of 20% would create unduly tight credit standards and place homeownership out of reach for millions of potential buyers,” said Richard A. Smith, president and CEO, Realogy Corporation. “This was not the intent of Congress when the Dodd-Frank Act was passed, and we remain hopeful that the regulators will make a course correction, wisely choosing not to damage an already fragile housing market.”

New Modification Program

2011-08-05T08:00:00.000-04:00

Atlanta-based Ocwen holds a $74 billion servicing portfolio after..... Read more:

What do you think?

Do You Really Want A Listing Agent To List Your Home?

2011-08-04T08:00:00.001-04:00

By guest contributor Judy Campo, Manager, Coldwell Banker Residential Real Estate, Coconut Grove office

Understandably, you’d answer with a question, “Whom else, a Buyer’s Agent?” The correct answer is “You want a marketing agent!”

A listing agent does just that; they list a home that consumes about an hour’s worth of paperwork and hits ‘send’. The home appears on the MLS among the many thousands of other homes listed, waiting to be found by a buyer through Realtor.com or a Realtor searching for a home with specifications. Sure they work hard. There may be open houses and multiple showings. But after about two weeks of being listed, the party seems to be over, doesn’t it?

What you want is a marketing agent like The Cherry Group. All Realtors can list a home, but marketing it at the highest level and as a commodity is what marketing agents do. A marketing agent’s disciplined approach embodies these classical marketing principals:

PRODUCT –When the house goes on the market, it becomes a product until it is a home for the next buyer. Marketing agents determine what the unique selling proposition is. What sets your home apart from the other comparable homes? It could be location, architecture, finishes, a special room or, in the absence of anything really special, the element setting the home apart from the pack would be price. It simply has to be “The Best Deal in Town” or the least expensive price per square foot.
PRICE – By utilizing the latest software to generate a CMA and then visiting the home, a Realtor can nail the asking and probable sales price. Motivated sellers should listen to their realtors and take their pricing advice. Once the three basic principals of real estate sales were location, location, location – now it’s price, price, price.
CUSTOMIZED PRESENTATION – Marketing agents take your home to the highest level to get your home sold quickly and at the highest price. Choose an agent with an eye towards attention to detail and formatting to attract Buyers and their agents, beginning with the best professional photography and floor plans. Close to 90% of all buyers begin their searches for homes well in advance of contacting a Realtor. The unique selling proposition is always made apparent and is never meek or esoteric.
PLACEMENT – Coldwell Banker has almost 400 Internet Partners. The company has offices throughout the US and in 50 countries. Should your property be a luxury home, listed for over one million dollars, the companies luxury home division, PREVIEWS, is the oldest luxury real estate brand in the world and a special publication is periodically mailed to 60,000 high-end homes in Florida alone.

If you plan to list your home for sale, ask the Realtors applying for the job what kind of agents they are. If they say a “Listing Agent”, it’s the wrong answer. Look for a Marketing Agent.

Mastery of the process

2011-08-03T08:00:00.003-04:00

By Guest Contributor Carlos Lobato, Sales Associate, Coldwell Banker Residential Real Estate, Miami Lakes office

The real estate brokerage industry has gone through some dramatic changes in the seven years that I've been privileged to participate in it. And quite often, the acceptance of these changes could be marked by the industry-wide kicking and screaming as we struggled to accept, innovate, and keep up. Yet nothing has had more dramatic an effect on the way we do business as the advancement of technology.

In the early 1990's, only 10-15% of buyers started using the internet as a primary search tool. And my industry was shaking in its pants! After all, we were the keepers of the information. If you wanted to know anything about what homes were on the market, when they sold, what they sold for, or even to get access to them; you had to come to us. Then all of a sudden.....OMG! If the consumer now had access to all of this information, then what did they need us for? Even though I wasn't a Realtor at the time, I distinctly remember op-eds talking about the end of the real estate brokerage industry as we knew it. Needless to say, these gloom and doom scenarios never materialized. But, we don't even have to go back that far.

The transaction itself is quickly turning into a paperless affair. For example, Coldwell Banker's Homebase system takes the entire transaction online giving all parties online access to all pertinent information and documents. And as expected, some agents are balking at having to turn over pertinent paperwork and/or information about their clients.

Reality check: We will never again be the keepers of the information. And our value to the public that we're so privileged to serve lies not in some fictional proprietary claim to John Does' phone number and email address.

Our value is derived from the mastery of the process!

Affluent Buyers Reviving Market for Miami Homes

2011-08-01T08:00:00.002-04:00

MIAMI — South Florida is the default capital of the country. Here in Miami-Dade County, one out of five households with mortgages is in foreclosure. Nearby Broward and Palm Beach counties are not far behind. Nearly 200,000 South Florida families are stuck in the mire of default.

And yet much of Miami is gripped by a housing mania as the oversupply of distressed homes dries up and foreigners and investors swoon. Only a few years after it seemed there were so many unwanted high-rise condominiums that the only solution was to tear some of them down, there are plans to build even more.

Home sales in the metropolitan area during the first half of the year rose 16 percent from 2010 for the best spring since 2007, according to the research firm DataQuick, far outpacing the negligible growth in the rest of the country. Two-thirds of the sales were all cash.

Prices, after a brutal drop, are firming up or even increasing. During the first six months of the year, there were 439 sales for at least $2 million, up 13 percent from last year.

“People thought it would take at least a decade to get back to this point,” said Peter Zalewski, founder of Condo Vultures, a real estate consultant.

For the full New York Times article by David Streifeld

Singles dive into the real estate market

2011-07-29T08:00:00.000-04:00

Unmarried women accounted for 20 percent of homebuyers in 2010, and single guys made up 12 percent, according to the National Association of Realtors®.

The Joint Center for Housing Studies says most single women make home purchases because of a desire to nest, a need for more space, and to move closer to a job or family. Builders recognize the buying power of single women and responding with security features, gourmet kitchens and low-maintenance landscaping.

“When women shop for a home with a man, I always see them deferring to him: his need for a garage, or a work space, or a man cave,” Gray says. “When women buy for themselves, they’re excited about turning this place into something that reflects them and who they are – they know they could even paint the bathroom pink if they wanted to!”

The Most and Least Expensive States for Closing Costs

2011-07-28T08:00:00.000-04:00

Nationwide, the average origination and title fees on a $200,000 mortgage total $4,070, which is 8.8 percent higher than a year ago, according to Bankrate.com’s 2011 Closing Costs Survey.

New York leads the nation with an average fee of $6,183. Texas, Utah, San Francisco and Idaho round out the five most expensive areas. Arkansas is the least expensive area, with an average fee of $3,378.

Florida ranked 12th, click here for a list of the 10 most and least expensive states

Renting may be the new American dream

2011-07-27T08:00:00.000-04:00

Thanks to that, reports this week may show some signs of life in the real estate market—in the apartment sector, at least. The Commerce Department's report on new home construction due Tuesday is likely to show that multifamily properties continue to be a bright spot for the beleaguered market.

Although the monthly data are extremely volatile, construction of buildings with five or more units was up nearly 50% year-on-year, on average, in the six months through May.

By contrast, construction of single-family homes is likely to remain anemic for some time to come. And well it should, given the overhang of existing properties and pending foreclosures that are still clogging up the market. Construction of single-family properties was down about 9% in May from a year earlier, to an annualized pace of 419,000 units. That is less than a quarter of its 1.8-million peak in January 2006. It is no wonder that the National Association of Home Builders' sentiment index, out Monday, is likely to remain down in the dumps.

Sentiment toward the apartment sector, however, is on an upswing. A separate multifamily sentiment gauge produced by the NAHB hit 41.7 in the first quarter, a 4½-year high. That is a function of short supply and strong demand for apartments, especially as rates of home ownership continue to decline from their bubble-era peak. Indeed, despite historically low mortgage rates, home-buying plans in The Conference Board's latest consumer confidence survey posted a further decline in June.

Coldwell Banker CARES Broward Golf Tournament

2011-07-26T08:00:00.002-04:00

By Guest Contributor, Sharon Littlejohn, Assistant Manager, Coldwell Banker Residential Real Estate Coral Springs office

Coldwell Banker Residential Real Estate CARES Foundation will be holding its annual charity golf tournament in Broward County on November 7. This popular event benefits Ronald McDonald House and other Broward charities.

The 2011 tournament will again be held at Inverrary Golf and Country Club where participants will have an opportunity to join Ronald McDonald and local sports celebrities to “walk in the footsteps of the legends” at this iconic golf course. A fun filled day is planned beginning with registration at 11:00am, a putting contest, and lunch. Shotgun start is at 1:00pm and after golf there is an awards dinner with raffles, prizes and silent auction.

The $135.00 entry fee includes golf, t-shirt, lunch, goody bag, beverages and snacks on the course and awards dinner.

There is a discount for paid foursomes registered by September 1st. The event is open to the public.

For more information please contact Tournament Chairperson Chris Maccarone at chris.maccarone@floridamoves.com or by phone at 954-753-2200.

REALOGY FILES COMMENTS REGARDING DODD-FRANK

2011-07-25T10:14:00.003-04:00

Realogy Corporation, a leading global provider of real estate and relocation services, today announced the company filed comments with the six regulatory agencies responsible for drafting the rules regarding Qualified Residential Mortgage, or QRM, under the Dodd-Frank Act.

Dodd-Frank provides that a lender must retain 5% of any loan not otherwise exempt under the to-be-determined definition of a Qualified Residential Mortgage. The QRM definition proposed by the regulatory agencies would effectively require home buyers seeking mortgage financing to make a down payment of at least 20% of the purchase price. Realogy notes in its comments, among other things, that, although it agrees with other groups who have commented publicly that this proposed QRM definition is unnecessarily narrow, regulators should rethink the Dodd-Frank retention requirement entirely and consider a fundamentally different approach that Realogy refers to as the “Enhanced Disclosure Approach.” A full description of the Enhanced Disclosure Approach can be found in its public filing.

“We believe the current QRM definition that includes a down-payment requirement of 20% would create unduly tight credit standards and place homeownership out of reach for millions of potential buyers,” said Richard A. Smith, president and CEO, Realogy Corporation. “This was not the intent of Congress when the Dodd-Frank Act was passed, and we remain hopeful that the regulators will make a course correction, wisely choosing not to damage an already fragile housing market.“

For further details on the real estate industry’s view of the impact of this QRM issue, read NAR's Regulatory Issue Brief.

Why It’s a Great Time to Purchase a Home

2011-07-25T08:00:00.002-04:00

By guest contributor, Anna Lopez, Sales Associate, Coldwell Banker Residential Real Estate, Cooper City/Pembroke Pines office

With the housing prices at record lows and mortgage rates hovering in the mid 4% percentile range, homebuyers are definitely having the pick of the litter! Home sales are picking up pace and home prices in Broward County are averaging at around $199,000. Also, Broward has had two consecutive months of record home sales in the state of Florida. In Miami-Dade, the average listing price tag for a home is $390,000 for the week ending April 6 2011.

Given the stats, some contributors to the home sales are ‘move up’ buyers who are in the market to trade up for a larger home since prices are at historic lows. More homebuyers are paying with cash which contributed to 35% of existing home sales.

For the homebuyers who are still on the fence as a result of the economic stats that are spewed out daily, here is some food for thought: Yes, there is still much work to be done to turn the market around. To help drive home sales, the state of Florida’s Realtors kicked off a promotional campaign titled “Welcome Home Florida” in an effort to help boost home ownership in Florida, as well as an additional effort to help create jobs. The real estate industry is a key contributor, as every two homes sold helps to create 1 job.

Here is another factor to consider. The housing market in Broward County hasn’t been this busy since June 2005 during the housing boom. There is a frenzy of activity and prices have dropped back to the 2001 price point. This is definitely a time for those who are sitting on the fence to make up their mind. Are they ready to play ball? Only time will tell.

Home Builder Sentiment Improves More Than Expected

2011-07-22T08:00:00.001-04:00

U.S. home builder sentiment rose more than expected in July but remained near historic lows, according to the National Association of Home Builders.

The NAHB/Wells Fargo Housing Market index rose to 15 in July after falling to a nine-month low of 13 in June, the group said in a statement.

Economists polled by Reuters had predicted the index would rise to 14. Readings below 50 mean more builders view market conditions as poor than favorable.

"The improvement in builder confidence in July is a positive sign that the outlook perhaps isn't quite as bleak as was feared in June," said Bob Nielsen, chairman of the NAHB, in a statement. While builders continue to struggle with competition from cheap foreclosed properties and a restrictive lending environment, Nielsen said consumers in some markets are beginning to take advantage of good buying conditions.

real estate is on the upswing in South Florida

2011-07-21T08:00:00.004-04:00

By guest contributor, Anna Lopez, Sales Associate, Coldwell Banker Residential Real Estate Cooper City/Pembroke Pines office.

Although the real estate market has its naysayers, real estate is on the upswing in South Florida. Homes that were under contract in Broward were 8,628 alone, up from 8,525, or 1.2 % higher than this time last year. South Florida bucks the trend of typical stats in the housing sector due to warm balmy weather, gorgeous beaches, a recuperating economy, stellar sports teams, and well…it’s South Florida what more can I say? There are major hurdles to overcome, but the housing market is strengthening.

New construction is picking up the pace where buyers can scoop up deals and not have to deal with the short sale wait-and-see what the bank approves dilemma or the foreclosure issues that have been predominating the market. Sure, deals can be found in either category, but if a buyer wants to have the say in picking out tile or wood floors and their choice of granite or soapstone countertops for their kitchen at bargain costs, than plan B sure looks pretty nice.

Broward County had 168 single family homes begin construction in the first quarter and in Palm Beach the county saw 288 homes go up as well. A couple of communities that are starting are Monterray in Cooper City and Canyon Trails in Palm Beach County. It doesn’t sound like much but keep in mind that new construction adds jobs, which enables workers to get back on their feet, which helps to improve the economy. Think of it as we’re putting one foot in front of the other to get to our destination-an economic recovery one step at a time!

Interestingly, homeowners who are selling their homes are resorting to compete with the foreclosure prices and throwing in everything including the kitchen sink in hopes to entice buyers. Anything from timeshares, televisions, to home warranties are up for grabs in this market, kind of like going to an outlet mall to shop for the best deals at rock bottom prices, and finding everything one needs right there. Buyers do have many options to choose from and the real estate market is ripe for the picking, or should I say….retail therapy?

Wealthy Americans upgrade to pricier primary homes

2011-07-20T09:32:00.001-04:00

High net-worth U.S. homeowners are trading up during the current downturn, getting good deals on value-priced primary residences, according to the Luxury Institute. Low prices have enticed 25% of U.S. consumers with a $150,000+ annual income to buy a home since 2008 at a median purchase price of $509,000 — up 3.2% from 2005-2007.

83% choose single-family homes and 17% plan to purchase additional property this year. 70% of wealthy homebuyers used a real estate agent and two-thirds said they would work with the same agent again.

The National Association of Realtors’ statistics show national home sales at $1 million-plus were up more than 18% year-over-year in 2010. Strong activity continues this year as well.

Have you noticed this level of increased activity among affluent homebuyers and neighborhoods in your community?

International Housing Report

2011-07-19T08:00:00.002-04:00

Coldwell Banker Identifies Average Home Listing Price in 30 Countries and More Than 60 Markets

Coldwell Banker Real Estate LLC released a report on international housing markets, which compares similar four-bedroom, two-bathroom homes in 30 countries and more than 60 markets outside the United States and Canada.

Among the more affluent markets in the report is Neuilly-sur-Seine, France, located just four miles from the center of Paris and is the hometown of Nicolas Sarkozy, the current President of the French Republic. The city also serves as the headquarters for the global edition of The New York Times newspaper, The International Herald Tribune. A continent away in the opposite hemisphere, the tourist city of Salinas, Ecuador, is one of the many markets offering great affordability. It is also known for its proximity to the Pacific Ocean and year-round temperatures averaging 80 degrees Fahrenheit.

"As one of the world's premier international real estate companies, Coldwell Banker has the pulse on what is happening in various global markets," said Budge Huskey, president and chief operating officer, Coldwell Banker Real Estate LLC. "Increasingly we have seen that buyers are expanding their horizons when it comes to the number of countries under consideration for their investment."

In addition to Salinas and Neuilly-sur-Seine, the Coldwell Banker report highlights some of the world's most prominent cities, full of fun trivia and charming local facts:

Paris, France, has been ranked as one of the top three European cities of the future by The Financial Times and produces more than one fourth of France's total gross domestic product.
Madrid, Spain, is the third largest city in the European Union and is considered the major financial center of Southern Europe.
Rome is the capital and most populated city of Italy and has been ranked as one of the world's 15 most important cities.
Amsterdam is the financial and cultural capital of the Netherlands and home to seven Fortune 500 companies including ING Group and Royal Philips Electronics. Dublin houses more than one-quarter of the entire population of Ireland and is ranked 29th in the Global Financial Centres Index.
Aruba is renowned for its white, sandy beaches, temperate waters and warm climate moderated by the trade winds of the Atlantic Ocean.
Istanbul is the cultural, economic, and financial center of Turkey and at one time served as the capital of the Roman and Ottoman Empires.
The release of this international data follows the recent Coldwell Banker Home Listing Report, a comprehensive analysis of real estate markets throughout the U.S. and Canada. Additional information on the North American report can be found on the Coldwell Banker Home Listing Report website.

Below are the full findings of the international report:

Country Market Average Listing Price (USD)

Aruba Aruba $445,875 Australia Brisbane $583,555 Australia Gold Coast $674,796 Australia Sydney $1,047,250 Belize San Pedro $366,750 Bermuda Bermuda $1,253,750 Costa Rica Santa Ana $617,500 Curacao Willemstad $227,733 Czech Republic Brno $264,097 Czech Republic Ceske Budejovice $170,125 Czech Republic Prague $638,750 Dominican Republic Cabarete $328,500 Dominican Republic Sosua $196,250 Ecuador Salinas $75,000 France Asniere sur Seine $1,957,000 France Boulogne $2,565,000 France Neuilly-sur-Seine $4,204,000 France Paris $3,624,000 Greece Athens $632,624 Guatemala Guatemala City $265,000 Honduras San Pedro Sula $193,000 Honduras Tegucigalpa $242,750 Indonesia Bandung $232,558 Indonesia Denpasar $158,430 Indonesia Jakarta $354,651 Indonesia Surabaya $210,756 Ireland Dublin $687,289 Italy Aosta $976,000 Italy Milan $1,918,750 Italy Riccione $898,750 Italy Rome $1,777,750 Lebanon Beirut $765,000 Lebanon Jounieh $387,500 Malta Attard $505,000 Malta Fgura $405,000 Malta Sliema $605,000 Malta St. Paul's Bay $430,000 Mexico Mexico City $566,500 Mexico Monterrey $400,211 Netherlands Amsterdam $862,320 Netherlands Bussum $631,984 Netherlands Rotterdam $574,400 Netherlands The Hague $827,770 Panama Panama City $285,000 Peru Lima $423,125 Peru Trujillo $281,000 Romania Brasov $477,714 Romania Bucuresti $562,236 Spain Madrid $1,877,070 St. Croix Christiansted $540,400 St. Kitts-Nevis Nevis $1,103,750 Turkey Ankara $264,000 Turkey Antalya $227,500 Turkey Istanbul $417,975 Turkey Izmir $311,000 Turks and Caicos Providenciales $1,033,750 Venezuela Caracas $138,497 Venezuela Maracaibo $94,776 Venezuela Porlamar $208,039 Venezuela Valencia $119,718 Vietnam Da Nang $803,571 Vietnam Ha Noi $816,667

5 Real Estate Trends to Watch For

2011-07-18T08:00:00.001-04:00

According to a RisMedia article by housing authority, Greg Rand, if the housing market were human, it would look like it just wrestled a few alligators, after running an obstacle course through a snake pit.

The market is beaten and bruised, but still trying to emerge from the recession, which is why Greg Rand, a 20-year real estate veteran and author of Crash Boom from Career Press, wants people to know about five new trends that could help them beat the housing blues.

“One of the key elements of a free market is chaos,” Rand says. “Chaos is how the markets figure out how to move forward. The important thing to realize in the midst of all these people talking about ‘the housing market’ is that the market isn’t some nameless, faceless thing that lumbers around aimlessly as if it has a life of its own. The market is made up of buyers and sellers. People, just like you and me, who are trying to figure out how to buy low and sell high. It doesn’t matter if you’re a homeowner or an investor. The secret to making sure your real estate doesn’t turn into a money pit is to watch the trends so you can predict where the prices will rise and where they won’t.”

Rand’s five trends to watch include:

Short-Term Pain – Show me a market where home prices are back to 2002 levels, and I will show you a market that is overcorrecting.
Overdevelopment – One of the reasons the market is overcorrecting is overdevelopment and speculation, as is the case in Florida. Another reason is that the job base has eroded, like in Detroit. Isolated, explainable, short-term distress is the secret. Find your Florida.
Jobs, Jobs, Jobs – Track employment trends to see where companies are moving, and you will see a harbinger for long-term housing demand.
Lifestyle – Nothing drives migration patterns long term more than the pursuit of happiness. Look at climate (the Carolinas), leisure trends (Colorado) and cost of living (Texas) for triggers on where the market may shift.
Responsible Government – Look at the state government. Does the state and city in question reward or punish risk-takers? Are you likely to suffer if you succeed there? If so, find somewhere that appreciates entrepreneurs. There’s nothing worse than putting your money on the table, only to have it redistributed.
“It comes down to the idea that no matter how the markets change, no matter which way the winds shift, people will always need a place to live,” Rand adds. “That’s been true of America since the first log cabin. If you plug into that concept, and leave fear in a box on the shelf, you can be ahead of the curve and ride the wave of the trends that matter.”

Mortgage Rates Are Great, If You Qualify

2011-07-15T08:27:00.003-04:00

With interest rates near rock bottom and home prices down, this ought to be a great time to buy a home. But for most people, it's a lousy time to get a mortgage, according to Tom Lauricella, in a recent Wall Street Journal article.

Years after the collapse of the real-estate market and resulting financial crisis, it takes nearly pristine credit scores and hefty down payments to get the best rates.

"Since 2009, credit has become a lot tighter," says Greg Reiter, who follows mortgage-backed bonds at RBS Global Banking & Markets.

For borrowers, this highlights the need to pay close attention to credit scores. New rules unveiled last week should make it easier for consumers to see how their credit scores affect the interest rates they pay. These rules, the result of last year's Dodd-Frank financial-services legislation, require banks and other lenders to disclose to consumers the scores used to determine interest rates charged borrowers, or to deny credit.

The new reality for borrowers can be seen in the FICO credit scores on the loans that banks are giving out and that are backed by government agencies Fannie Mae and Freddie Mac. These days the two agencies essentially finance 75% of all mortgages by purchasing the loans from the banks. In the process, they shape how much it costs to borrow.

FICO scores range from 300 to 850. Pre-crisis, a score of 700 to 725 was deemed solid and a borrower could expect to get a "conventional" mortgage at the lowest rates.

From 2003 through 2006, 82% of Fannie Mae mortgages were for borrowers with a score between 700 and 750, according to data compiled by RBS.

But so far in 2011, only 13% of Fannie Mae mortgages carry that score, and just 1.7% have a score of 700 to 725, according to RBS. This year, 75% of Fannie Mae mortgages are for FICO scores of 750 to 775, up from less than 5% before 2005.

The 6 must-have spaces in your next home

2011-07-12T08:00:00.001-04:00

With budgets tight, homeowners say they can’t afford wasted space. Homeowners, shaking some of their recession weariness, are making plans again to upgrade to a new home or remodel the one they’re in, a survey from Better Homes and Gardens magazine finds.

But their flirtation with a nicer home is still grounded in economic reality. “Consumers are starting to give themselves permission to dream about a new home again and for the first time in several years actually are considering houses that are slightly larger than their existing homes,” said Jill Waage, editorial director for home content at the magazine.

“But they aren’t looking at something significantly larger. They want more space but it is driven by both function and finances,” she told an audience at the International Builders Show earlier this month. “Their priority is a home they will enjoy. The new mantra is ‘I am spending my money, so make it count.’”

According to a survey of Better Homes and Gardens readers taken in late December, these are the six spaces that homeowners most want to see included in their new home or updated in their existing one:

Separate laundry room
More storage and built-ins
A home office
An outdoor grilling/living area
A second bedroom with a private bath
Everyday eating space close to the kitchen

Foreign buyers lifting U.S. home sales

2011-07-11T08:00:00.001-04:00

Julie Schmit reports in USA TODAY that foreign buyers are helping to stoke home sales in U.S. vacation hot spots decimated by the real estate crash, especially in Southern Florida.

For the 12 months ending in March, 31% of Florida's home sales were to foreign buyers, up from 10% in 2007, according to a survey by the National Association of Realtors.

Foreign buyers are being enticed by low U.S. home prices, down 30% nationwide since peaking in 2006, and the weakened dollar, which makes their money go further. Since the start of 2006, the Canadian dollar has soared 18% against the U.S. dollar, while the euro has gained 22%, says data tracker Oanda.

U.S. home prices, meanwhile, have fallen far more than the national average in some places — down 55% from their peaks in Miami-Fort Lauderdale and Phoenix and 36% in Los Angeles, says Zillow.com. Those are three of the most popular areas for foreigners searching for real estate on Trulia's website, that company says.

The number of U.S. homes sold to foreigners dropped to 288,000 in the 12 months ending in March, from 224,000 a year earlier, the Realtors survey shows. But certain cities are seeing increases.

Of the 20 most popular U.S. cities searched by foreigners on real estate website Trulia, eight are in Florida, Trulia's data shows.

Waiting to buy after foreclosure?

2011-07-08T08:00:00.004-04:00

As consumers lose their homes to foreclosure or short sale, they wonder how long they will have to wait until they can secure a mortgage again. The New York Times reports that a foreclosure will cause up to seven years’ wait, while a short sale recovery may take only three years.

According to FICO, it takes a borrower three years to pull a score back up to mid-range 680 after a foreclosure. A borrower who had a near-perfect 780 score would take about seven years to fully recover, assuming they have income to pay off their debts.

Are you considering a foreclosure or short sale? If so, ask to speak with a mortgage professional at a major company like Coldwell Banker for assistance in making a wise decision. You’ll save time and money.

Five Housing Trends in Summer 2011

2011-07-08T08:00:00.002-04:00

As reported by Polyana da Costa and published in Bankrate.com, low mortgage rates and the bargains to be found in the vast inventory of distressed homes for sale are making this a buyer's market. In many areas it has become cheaper to own than to rent.

Many potential buyers stand on the sidelines, scared off by difficulties in getting approved for mortgages and fearful of a double-dip in housing prices. One bright spot for buyers and those wanting to refinance is that jumbo loans are becoming easier to get.

Here are some of the housing and mortgage trends you should expect to see for summer 2011.

2011-07-07T08:00:00.002-04:00

U.S. Home Prices Poised to Climb as Foreclosures Wane, HUD’s Donovan Says

Bloomberg reporter Kim Chipman reports that prices for U.S. homes may climb as soon as the third quarter, ending declines as foreclosures make more homes available for sale, Housing and Urban Development Secretary Shaun Donovan said.

“It’s very unlikely that we will see a significant further decline,” Donovan said yesterday on CNN. “The real question is when will we start to see sustainable increases. Some think it will be as early as the end of this summer or this fall.”

Home sales have increased in six out of the past nine months and the number of property owners in default is declining, Donovan said on CNN’s “State of the Union” program. Housing prices will begin rising as the number of foreclosures decline, he said.

Happy Independence Day!

2011-07-04T08:00:00.001-04:00

International Buyers in Florida?

2011-07-01T08:00:00.008-04:00

Contributed by Clark W. Toole III, President, Coldwell Banker Residential Real Estate and Coldwell Banker Commercial NRT, Florida

Being a leader in Florida real estate, one of the most talked about markets across the country, it’s not often that I go somewhere and escape from the question, “what’s going on in Florida?” Recently I met with Coldwell Banker brokers from all over the world at the company’s Generation Blue event in Las Vegas, (yes, I was working and not playing… well, maybe a few quarter slots here and there) where among other topics, they discussed increased interest in Florida real estate and why now is a great time to buy.

Why are international buyers interested in Florida?

They see Florida real estate as a profitable, secure investment in a desirable location. A 2010 Profile of International Home Buyers from the National Association of Realtors® (NAR) states, “despite the national decline in home sales, one significant countervailing force has been the growing importance of international homebuyers.” In fact, NAR also reports a 50% increase in the number of Realtors® who sold a home to at least one international buyer from 2009 to 2010.

Who do we see coming here you might ask? While Canadians still make up the majority of foreign buyers in the U.S. at 23 percent, there is definitely an increase in foreign buyers from South America and Asia.

The Coldwell Banker broker I met with from Vietnam said that there is an expanding Vietnamese population in Orlando and Sarasota and they have an interest in purchasing not only single family homes, but entire residential real estate development projects. In Florida, we’ve definitely seen an interest among South American homebuyers. In fact, our website, FloridaMoves.com has more than twice the number of Brazilian visitors in 2010 versus 2009.

The interesting thing is, while most Americans favor single family homes, the majority of foreign buyers prefer condos or maintenance free living. In Tampa and Miami, the international buyers are looking for affordable beachfront condos. This is evident by numbers released by the Miami Association of Realtors® stating that 60 percent of Miami’s home sales were to international buyers, and a whopping 90 percent of new condos in Miami were purchased by foreign buyers.

Have any other questions about what’s going on in Florida real estate? Don’t hesitate to ask.

-Clark

Price it competitively from the beginning

2011-06-30T14:18:00.000-04:00

Positioning a home for sale at the right price, based on current market analysis, is essential for success in today’s market, according to Bankrate.com. The largest number of showings will occur in the first two to three weeks, and buyers are most likely to make offers on properties that are priced realistically. The MLS and Internet drive the majority of showings, which is why real estate experts stress that it’s important to set a price that generates excitement and energy from day one.

Additional perks may also attract buyers, according to Bankrate.com. Consider sweetening the deal with a top-of-the-line washer and dryer or wall-mounted, flat-screen TVs. And, of course, a home that’s in perfect turn-key, move-in condition, clean and clutter-free is on top of every buyer’s wish list.

What do you think is the key to selling a home in today’s market? Is value-pricing evident in your neighborhood?

Foreclosure relief effort kicks off with 7/22 deadline

2011-06-29T08:00:00.001-04:00

A new $1 billion mortgage assistance program will give unemployed homeowners loans to help them avoid foreclosure. But they have only until July 22 to apply, according to the Wall Street Journal.

The new Emergency Homeowners’ Loan Program provides zero-interest loans of up to $50,000. The Department of Housing and Urban Development said 27 states are approved for the program. Homeowners will need to apply by July 22 to be eligible for the program and must be approved by September 30. Visit FindEHLP.org for details.

How will this program assist unemployed homeowners in your community? Will they have time to apply before the deadline?

Does 'Buying Frenzy' for Low-Priced Homes Signal a Bottom

2011-06-28T08:00:00.000-04:00

Home purchases have picked up in the last few weeks in Phoenix and Las Vegas, a sign that some of the hardest-hit housing markets may have hit bottom.

Lenders say there has been a flurry of buying activity for homes priced at $200,000 or less, mainly distressed properties, such as foreclosed ones.

But a full-blown recovery is still hampered by the dearth of move-up homebuyers, the scads of homeowners with negative equity and a massive inventory of properties in foreclosure that have not yet been put up for sale.

"The real estate market is more fragmented than ever before," said Brian Yampolsky, owner of Orion Mortgage Corp. in Phoenix. "Not only is Arizona different from other states but there are sub-markets within our market that are reacting differently."

Higher-priced homes still have plenty of room to fall further, said Alex Villacorta, director of research and analytics at Clear Capital.com Inc., a Truckee, Calif., data provider.

"Low-end distressed properties are selling," said Villacorta. "When you look at the higher end, there may be another wave of declines because higher-priced homes have not fallen nearly as much as lower-priced homes."

What do you think about the current market? Do you have real estate questions?

View the full American Banker article by Kate Berry

UPS and Downs

2011-06-27T11:55:00.019-04:00

By Guest Contributor, Anne Platt, Sales Associate, Coldwell Banker Residential Real Estate Coral Gables office

www.floridamoves.com/anne.platt

Elated Buyers and Sellers whisper of purchases almost concluded, but not yet officially “pended.”

In February the sale at 3500 Curtis Lane on Biscayne Bay broke all recent Coconut Grove residential records. This outstanding bay front estate on almost two acres sold for $13,419,495.00.

Throughout the last year the numbers of sales in North Coconut Grove, South Coconut Grove and Coral Gables remained consistent while the inventory grew. Now the inventory has begun to decline as pending sales for the end of the first quarter and following month end for May have escalated. Look at the growth in pending sales!

View Statistics for Recent Home Sales:
North Coconut Grove
South Coconut Grove
Coral Gables

	1 Qtr 2009	1 Qtr 2010	1 Qtr 2011	May 2011
South Coconut Grove
Pending Sales (Pending now*)	8	13	21	23
Closed Sales (6 months back)	23	33	36
Homes on the Market	119	102	79
North Coconut Grove
Pending Sales (Pending now*)	7	15	14	20
Closed Sales (6 months back)	20	28	29
Homes on Market	87	74	67
Coral Gables
Pending Sales (Pending now*)	"N/A"	109	109	124
Closed Sales (6 months back)	137	196	184
Homes on Market	588	452	386

Note Pending sales are agreements between buyers and sellers not yet closed. These are cumulative numbers over the last several months. Do NOT add the First Quarter figures to the May figures.

Eclectic architecture and exotic lush landscaping have long been popular in Coconut Grove. Coral Gables offers a wide selection of exceptional homes from the Old Spanish built in the 1920’s in the North Gables to the glamorous walled and gated custom designs in Cocoplum. Gables Estates offers magnificent waterway homes only minutes from sparkling Biscayne Bay. As each home is so distinctive it comes as no surprise that sales in various price ranges are also different. Below are several examples of sales in both Coral Gables and Coconut Grove in some of our most popular price ranges.

$1,500,000 - $2,000,000	Coconut Grove	Coral Gables
Active on Market	26	35
Pending in the last 30 days	2	2
Ave. Days on Market	19**	350 **
Months Supply	13	17
$500,000 - $750,000	Coconut Grove	Coral Gables
Active on Market	35	60
Pending in the last 30 days	8	9
Ave. Days on Market	71	128
Months Supply	5	7

Keep in mind that there are more homes in Coral Gables than Coconut Grove so the number of Gables sales will always be higher. ** This sample is too small to give a real accurate cross section of the inventory marketing time. Typically, luxury homes do take longer to sell.

As you can see, each market is unique and has subtle differences. If you, or a friend, neighbor or colleague wish an individual up to date survey for your property, call me and I will be glad to share the survey and meet with you to help you plan your move.

Why Own My Home?

2011-06-24T08:00:00.000-04:00

In a recent International Business Times article, Phoebe Chongchua answers the question…Why own my own home?

A soft real estate market that is ripe with all the conditions that should entice people to purchase a home still has some renters asking, "Why own my own home?"

Low interest rates, lower home prices and an improving job market still have some buyers sitting on the fence fearful of an uncertain real estate market. Real estate agents and even sellers are finding that prospective buyers (current renters) may need a little more "emotional" attention in these market conditions. They may need a little more explanation to ensure that they understand the benefits of purchasing your home rather than renting another.

While deciding to own a home or rent one is very personal, many tend to let fear of the unknown be the driving force in making their decision and that can later create an unhappy decision.

View the tops five reasons

11 Ways to Move on a Budget

2011-06-23T08:00:00.001-04:00

By Guest Contributor JoAnn Roberts, Sales Associate, Coldwell Banker Residential Real Estate Pinecrest office

Whether you are planning an out-of-state move, or even moving across town, the costs associated with moving your possessions from one location to another can be a significant burden, especially given today’s economy. If you are planning on moving during the busy summer season, the following tips from Two Men and a Truck will help you save both time and money.

Pack all items into boxes and tape all boxes closed with packing tape. Do not use duct, Scotch or masking tapes.
Label all boxes by room and contents to save time when movers unload them from the truck into your new home.
To reduce load time, as you pack your boxes, take them to the garage or to a common area on the main floor.
Disassemble and reassemble items such as beds, cribs, entertainment units, etc., yourself.
Make sure all electronics are disconnected and wires are removed or taped tightly to the item.
Be prepared for the movers. Packing or disassembling items while the movers are present will increase load time and costs.
Move all miscellaneous unboxed items such as lamps, pictures, toys, yard tools, etc., yourself.
Disconnect washers/dryers/refrigerators and other large appliances to save time.
Reserve ample parking for the moving trucks, as long walks add to the load and unload time.
Make sure there is a clear walkway for the movers to get to and from the truck.
Be at the new location on the day of the move so movers know where to place furniture and other items.

As a Member of the Top 5 in Real Estate Network®, JoAnn has a wealth of real estate and homeownership information that may be of help to you. Feel free to contact her any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Hyperlocality and Choosing the Best Agent

2011-06-22T08:00:00.001-04:00

By Guest Contributor Carlos Lobato, Sales Associate, Coldwell Banker Residential Real Estate Miami Lakes office

“How’s the market?” It seems like everybody wants to know. And it’s really such a loaded question with real world implications for my business. When many folks ask this question, what they’re really asking is “how’s your business?” In other words, the “how’s the market,” question is quite often an informal job interview. And the way that I answer it gives the interviewer a lot of instant information about my knowledge base, my attitude, and my overall proficiency in the subject at hand…real estate that is.

This is not to say that I ought to have a canned, overly impressive, industry laden jargon beast of an answer. But let’s say, all things being equal, that you ask 2 real estate agents the big question:

Agent #1: “The market’s great!” Agent #2: “The Real estate market today is very hyper local. And those gloom and doom market scenarios that you read about have to be taken with a grain of salt. For example, homes in Las Vegas are down 60% from peak prices, while homes in Pittsburg are down only 1% from their peak. Wouldn’t you agree that the strategy for getting a home sold in either of these two markets would have to be different?”

Now which one of these two agents would you hire to handle the sale of your house?

Turnaround: 4 Months and Counting?

2011-06-21T08:00:00.001-04:00

By guest contributor, JoAnn Roberts, Sales Associate, Coldwell Banker Residential Real Estate

Acording to Steve Cook of RisMedia, price declines will end and average U.S. home prices will stabilize by Labor Day. Prices in even the hardest-hit markets will level out by the end of 2012. That’s the latest prediction from the authoritative Moody’s Analytics and Fiserv, Inc., after an analysis of home price trends in 375 markets tracked by the Fiserv Case-Schiller Indexes.

Fiserv reports that home prices have fallen so far that they are at pre-bubble levels, creating affordable housing relative to income which, coupled with a slowly improving economy, will finally end price declines. The slide in home prices has greatly improved home affordability. Relative to household income, affordability is at or close to pre-bubble levels in nearly every metro area across the U.S. This dynamic, combined with growing economic strength, leads Fiserv and Moody’s Analytics to project that average U.S. home prices will stabilize in the third quarter of this year. By the end of 2012, home prices in even the hardest-hit housing markets will level out.

What are you seeing in your area?

Florida population soars in first century

2011-06-20T08:00:00.002-04:00

Florida was #3 nationwide in population growth numerically and #8 by percentage increase during last decade, according to a new University of Florida study.

Florida’s permanent resident population increased by more than 2.8 million between 2000 and 2010 — an increase of 17.6% to 18,801,310. However, the growth rate lagged behind previous decades and is expected to decline steadily through 2040.

Fueled by an expanding economy and a booming housing market, population increases from 2003 to 2006 were among the largest in Florida’s history. During the past decade, 65 of Florida’s 67 counties gained population. Four counties grew by more than 50%, and 20 grew by more than 20%.

How will future growth rates impact the housing market and economic recovery in your community? Have you noticed a significant change in population?

CB LISTINGS GAIN PREMIUM PLACEMENT ON TOP MARKETING WEBSITES

2011-06-17T08:00:00.001-04:00

Coldwell Banker Residential Real Estate announced it has entered into national advertising agreements that will prominently enhance the current placement of the company’s property listings on the top four* real estate websites and portals: Realtor.com, Trulia.com, Yahoo Real Estate and Zillow.com.

The agreements with Move Inc., Trulia, and Zillow give premium placement to Coldwell Banker Residential Real Estate’s property listings. As a result, the company’s sales associates and their clients will gain a competitive edge in attracting homebuyers during the 180 million visits that these sites collectively receive each month.

“Real estate companies and their consumers today need to significantly differentiate themselves online,” said Clark W. Toole III, President, Florida, Coldwell Banker Residential Real Estate and Coldwell Banker Commercial NRT. “The enhancement package will certainly enable our agents to effectively distinguish their client’s listings from those of competitors. This comprehensive online marketing platform is just one of the many ways Coldwell Banker provides unmatched benefits to our sales associates and their clients.”

Hastings is Florida’s Most Affordable Market; Palmetto Bay Most Expensive

2011-06-15T08:00:00.011-04:00

Coldwell Banker Real Estate LLC released its Home Listing Report (HLR), a snapshot survey of listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets. The survey reviewed 129 real estate markets in Florida and found Hastings led the list of most affordable markets in the state, with an average home listing price of approximately $74,910 for property listings meeting the subject home criteria.

The report identified Palmetto Bay as the state’s most expensive market, where the average four-bedroom, two-bathroom home has a listing price of $449,353. The difference of nearly $375,000 between most expensive and most affordable Florida housing markets is just one of the many findings in this comprehensive market report. Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in Florida overall was $218,670.

The Coldwell Banker HLR provides the average home listing price of four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between September 2010 and March 2011 from more than 2,300 North American markets. Markets included in the U.S. report were required to have at least 10 properties fitting the above criteria within the relevant timeframe.

An interactive graphic summarizing the full results of the Coldwell Banker Home Listing Report is available on coldwellbanker.com. Full national data can be accessed on the Home Listing Report website.

Riverdale is Georgia’s Most Affordable Market; Dunwoody Most Expensive List

2011-06-15T08:00:00.010-04:00

Coldwell Banker Real Estate LLC today released its Home Listing Report (HLR), a snapshot survey of listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets. The survey reviewed 97 real estate markets in Georgia and found Riverdale led the list of most affordable markets in the state, with an average home listing price of approximately $61,618 for property listings meeting the subject home criteria.

The report identified Dunwoody as the state’s most expensive market, where the average four-bedroom, two-bathroom home has a listing price of $379,866. The difference of more than $300,000 between most expensive and most affordable Georgia housing markets is just one of the many findings in this comprehensive market report. Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in Georgia overall was $180,373.

Lancaster is Texas’s Most Affordable Market; Colleyville Most Expensive List

2011-06-15T08:00:00.009-04:00

Coldwell Banker Real Estate LLC today released its Home Listing Report (HLR), a snapshot survey of listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets. The survey reviewed 146 real estate markets in Texas and found Lancaster led the list of most affordable markets in the state, with an average home listing price of approximately $100,246 for property listings meeting the subject home criteria.

The report identified Colleyville as the state’s most expensive market, where the average four-bedroom, two-bathroom home has a listing price of $350,710. The difference of more than $250,000 between most expensive and most affordable Texas housing markets is just one of the many findings in this comprehensive market report. Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in Texas overall was $185,039.

Get to Know your iPad- The Best Real Estate Apps

2011-06-15T08:00:00.008-04:00

So you have this fancy schmancy iPad...but are you really using it to the best of your potential? David Marine, director of consumer engagement for Coldwell Banker Real Estate LLC has put together a list that he believes techy people like yourself will find most useful when navigating through this AMAZING device. He's spends so much time with his iPad, his wife refers to it as “his girlfriend.”

The iPad is the ideal piece of technology for the real estate industry. It’s the first truly mobile computer made for the professional on the go. It’s big enough to be used as a presentation tool, but small enough to not be overbearing.

In this white paper, David talks about: What are the tools that an agent would fine most useful? Which apps are built for the business of real estate? How can the iPad make running a real estate business simpler or help you get new customers?

Ok, get going and view David's simple document outlining some of the best apps that he has found when it comes to using the iPad for real estate business. ENJOY!!