When Is A Good Time To Buy A Home?

Realtor:  Maya Paveza

When you’re ready to buy is the right time to buy.

Contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Is The Housing Market Recovering?

Realtor.com Real Estate Trend Data – April 2012

National Trends- As the 2012 spring home buying season comes into full swing key indicators continue to suggest the housing market may be at a turning point and headed towards a broad-based recovery. The total US for-sale inventory of single family homes, condos, townhomes and co-ops (SFH/CTHCOPS) now stands at 1.84 million units, down -18.85% in April 2012 compared to a year ago, and well below its peak of 3.10 million units observed in September 2007 when Realtor.com began tracking these data. The median age of the inventory fell by -11.57% on a year-over-year basis, from 95 days in April 2011 to 84 days in April 2012, while the median list price–$191,211—has remained essentially stable for more than a year.

Many Florida markets have cleared out much of their excess inventories and appear to be in recovery mode, while other hard-hit areas – Phoenix and California — show early signs of recovery. However, some Midwest and Northeast markets are losing ground as weak local economies take their toll. Lower inventories, combined with faster moving markets and relatively stable median listing prices are indicative of the kind of balanced housing market that has not been seen in many years.

Read more: Realtor.com Real Estate Trend Data – April 2012 | REALTOR.com® Blogs

Contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

3601 NE 207th St, N30, Aventura, FL 33180

FOR SALE: Waterways Marina slip N30 – $149,000

• 55 foot boat slip
• dockmaster on-site
• water included
• trash pick up included
• pump out of sewer included
• electric available

Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Aventura Condominium Offers Spectacular Views

Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

For Sale: One Island Place Condominium

Property Address: 3801 NE 207th St, Unit 902, Aventura, FL 33180

Price: $689,900.00

Maintenance Fee: $1,529.00/month

Click here to view the embedded video.

This condominium located in the City of Aventura, FL, features 2 bedrooms plus a den, which can easily serve as a third bedroom, and 2 1/2 baths, in 2,370 sq ft of living space.  When you take the private elevator to the 9th floor and step into your own foyer the residence’s double doors open to reveal a luxurious and relaxed ambiance with stunning views of the Intracoastal and ocean.  An air of refined elegance is evident in all of the condominium’s interior spaces.  Sand colored ceramic tile floors and harmonizing couches and tables complement the surrounding blue skies and water.  The sizable center island kitchen features a Sub-zero refrigerator, Thermador appliances and Poggenpohl cabinetry.

Impressive amenities include:

• 2 garage parking spaces
• valet parking
• 24-hr security gate
• 24-hr lobby attendant
• 2 heated swimming pools
• fitness center
• 2 tennis courts

This fully furnished residence, with 628 sq ft wrap around balcony and unparalleled water views, is a total stand out.

For more information or to schedule a private showing please contact me at (305) 329-4929 or solovay.m@ewm.com.

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Home Prices Rise in Half of U.S. Cities as Markets Stabilize

May 7 (Bloomberg) — Michelle Meyer, a senior economist at Bank of America Merrill Lynch, talks about the U.S. economy and real estate market. She speaks with Tom Keene on Bloomberg Television’s “Surveillance Midday.” (Source: Bloomberg)

I hope this information is useful to you.  Contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Four Killer Questions to ask Your Agent

By Maria Patterson

As prices slowly start to rise and inventory begins to shrink in many areas, you may finally be ready to put your home on the market. However, selling your home in today’s gradually recovering market is still tricky business and requires the expertise of a professional real estate agent.

Take your time when selecting the right agent to work with. You’re about to embark on a major endeavor so having the right chemistry—and the right level of trust—are essential. Here are four important questions to ask a prospective agent that will help you determine if he or she is the right person to list your home with:

1. How long have you been a real estate agent? The number of years an agent has been in the business is important information for you to know—and there are pros and cons to every level of experience, so don’t rush to judgment. For example, if an agent has only been practicing for a couple of years, that’s not necessarily a bad thing. Agents who started in real estate after the bubble burst only know how to operate within current market conditions and won’t waste time on outdated strategies that worked during the housing boom, but that won’t work now. Measure their success by the home’s they’ve sold so far and how they overcame the particular challenges of those sellers. Conversely, if you’re prospective agent is a real estate veteran, be sure to ask how he or she has adapted their approach for the market downturn. While their years of experience are invaluable to you, make sure they’ve changed accordingly with the times.
2. What will you specifically do to market my home? In today’s technology-based environment, don’t settle for a general response, such as “online marketing” and “virtual tours.” Ask prospective agents which specific listing syndication sites your home will appear on, how many photos/videos of your home will be included, how social media will be utilized, and what sort of mobile platforms are available. Ask for examples of other homes the agent is currently listing so you can get a good idea of how your home will be marketed.
3. What will it take to make your home stand apart? Savvy agents will offer specific details on what simple—or potentially significant—improvements need to be made to help your home compete on the market. Ask what features/qualities were common among recently sold homes. For example, if home offices were a popular selling point, quickly redecorating a spare bedroom into office space could make a big difference to prospective buyers.
4. How will you determine the best possible price for my home? Pricing is a complicated and critical issue in today’s market and before you ask an agent this question, decide how quickly you want/need to sell your home. With a slightly lower listing price, your home could sell very quickly. With a slightly higher price, be prepared to wait. Ask your agent what the average listing time is for homes in your area. Ask which homes sold quickly and why. Ask what investments you may be able to make in your home that would result in a higher selling price. Ask what the current housing supply in your market is so you can get an idea of how in-demand your home may or may not be. All of these factors are crucial to determining the best listing price for your particular circumstances.

I hope this information is useful to you. Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Pending Home Sales on the Rise

I hope this information is useful to you.  Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

The Reasons Your House Isn’t Selling and What You Can Do about It

(Part 1)

By Kristin Brown-Orr

Selling a home can be a daunting undertaking, and while you may be helpless to control the state of the market or the number of prospective buyers in your price range, here are a few ways to be proactive against some of sellers’ most common pitfalls:

Problem: Competition. Are there too many homes for sale in your price range? If there are too many options open to buyers in your market, you may not see as many showings as you’d like.

What You Can Do: Unfortunately, the state of the market in your neighborhood or town is pretty much beyond your control. You’ll need to think about how you can make your home a more attractive sale, either by lowering your price or providing attractive terms of sale.

Problem: Your asking price is too high. It’s stating the obvious, but if your asking price is too high, you’ll price yourself right out of a lot of potential showings. Further, even if you do manage to land a buyer at your price, his or her financing is more likely to fall through during the sale if the house will not appraise.

What You Can Do: Working with a trusted real estate agent to come up with a fair asking price is vitally important. Make sure you are educated about the market you’re selling in, and price your home accordingly. Ask yourself whether you’d rather net a little less than you had hoped – or not be able to sell at all.

Problem: Your home lacks curb appeal. The condition of your home inside and out is critically important to making a sale. If your home doesn’t show well, a potential buyer is going to head elsewhere. Most buyers are looking for a house they can move into without a ton of small repairs and cleanup.

What You Can Do: You’ve been meaning to fix that leaky faucet or repaint the fence in the front yard, so now is the time to do it! Of course, this should have been done when you decided to sell, but it’s never too late… De-clutter your rooms and store all personal effects. Consider investing in some new curtains, bath towels and throw rugs. To make sure that you nail that crucial curb appeal, spruce up your yard with new plantings, trim hedges and weed flowerbeds, and keep the lawn short and neat. Those minor repairs that you have been living with will add up in the eyes of a prospective buyer.

Problem: Location. Everyone’s heard that old maxim that real estate is all about “location, location, location!” But what do you do if you’re trying to sell a home on a busy street, or too close to a major highway?

What You Can Do: There are actually a few things you can do to increase your chances of a sale. If your home is on a busier street, highlight any benefits on the flip side—maybe your backyard is fenced in, your taxes are low or you can walk to a school nearby. Make sure you pay extra attention to those highlights. If you are in an area where your home is very close to a major highway, consider some type of privacy hedge or fencing. If you have older windows consider replacing them – the benefit will be two fold, you will have new windows as a selling feature and those new windows will provide a little more sound buffering inside the home. Last, consider selling at a time when the foliage is in full bloom to help naturally block sound or visual effects from nearby highways.

Kristin has been serving her community as a REALTOR® for the last eight years. She is a member of the Greater Boston Real Estate Board, MAR, NAR, MLS-PIN, Women’s Council of REALTORS®, and a recipient of The President’s Circle Award.

I hope this information is useful to you. Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Is The Housing Market In Recovery?

I hope you find this information helpful.  Contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.