Home Sales Up in Every Price Range over $100K!

The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure.

Homes priced between $100-250K showed a modest increase at 3.4%. This not only points to the lower inventory of homes available for sale in this price range but also speaks to the overall strength of the housing market.

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Sales of homes over $250,000 increased by double digit percentages with sales in the $750,000- $1 million range showing the largest increase, up 16.7%!

As prices in many markets continue to accelerate, it is no surprise to see the percentage of homes in the higher price ranges increasing.

Here is the breakdown:

What does that mean to you if you are selling?

Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit with your agent and see if it is priced appropriately to compete in today’s market.

One of our Favorite parts of this job, is helping Americans achieve the American Dream of Homeownership. Sometimes multiple homes! This is what drives our business, knowing we are helping others set a goal to build financial wealth through homeownership and helping them navigate through every step of the process.

Contact Jay Cermak Top Fort Lauderdale Real Estate Agent at 954.235.3589 and let our team help you achieve your American Dream!

Serving all of South Florida and Fort Lauderdale Areas for all of your buying and selling Real Estate Needs.

Buying Remains 36% Cheaper than Renting!

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide! 

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A recent study by GoBankingRates looked at the cost of renting vs. owing a home at the state level and concluded that in 36 states it is actually ‘a little’ or ‘a lot’ cheaper to own, represented by the two shades of blue in the map below.

One of the main reasons that owning a home has remained significantly cheaper than renting is the fact that interest rates have remained at or near historic lows. Freddie Macreports that rates fell again last week to 3.43%.

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Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.  

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters who would like to evaluate your ability to buy this year, meet with a local real estate professional who can help you find your dream home.

Whether you are thinking of Buying or Selling a Home contact a professional realtor who cares about you and your time. Contact Jay Cermak Top Fort Lauderdale Real Estate Agent at 954.235.3589 and schedule a FREE Real Estate Consultation today.

Do You Know the Impact Your Interest Rate Makes?

Homes are more affordable because of low interest rates.  When you compare how much house you can buy with The Past 31 years you can see when interest rates were as high as 12.17% the home you could afford was $95,750 if you wanted to keep your monthly mortgage payment under $1,000.  In 2000 when interest rates were 8.12% you could afford up to $134,500 to keep your monthly payment under $1,000.

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Now in 2016 if you lock an interest rate in at 3.43% you can afford a home at $224,500 and your monthly payment will be $999.35.  The average home in America is right around this $220,000 range.  

You can keep your monthly mortgage payment under $1,000 with interest rates at an all time low.

Ready to Take advantage of the Low Interest Rates?  Contact Jay Cermak Top Fort Lauderdale Real Estate Consultant with Keller Williams Realty at 954.235.3589!

Serving all of your South Florida and Fort Lauderdale Real Estate Needs!

Thinking of Selling Your House? Pick the Right Agent!

Today, more and more sellers are stepping back, taking a look at the advice real estate professionals give them, and asking themselves whether they can trust that advice. And that is exactly what they should do.

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The most important question you can ask when you are choosing a real estate agent is whether you feel you can trust them. You must know that they’re giving you great advice, and that they’re going to be able to help you accomplish your family’s goals. You must trust your listing agent enough to allow them to:

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• Handle the liquidation of possibly the largest asset your family has
• Help set the market value of that asset (get the price right)
• Set the timetable for the liquidation of that asset
• Set a fair fee for the services required to liquidate that asset

All four of these require a tremendous amount of trust. They’re going to sell your prized possession, set its value, set a time schedule as to when your family will be able to move, and determine the fee that you’re going to pay to get those three things accomplished.

You have to trust your agent enough to allow them to help you and your family reach your dreams.

Whether you’re a grandfather up North looking to move to Florida to spend your later years with your grandkids, or a young person who wants to take that job in San Francisco but first has to get your house sold in Chicago, you need an agent you can trust to help you move on with what's important.

Contact Jay Cermak Top Fort Lauderdale Real Estate Agent with Keller Williams Realty at 954.235.3589.  Helpful, knowledgeable, resourceful, these are just a few qualities clients have said about Jay.

Schedule a Real Estate Consultation today to discuss all of your South Florida and Fort Lauderdale Real Estate Needs! 

U.S. New Home Sales Up 25.4% Last Month!

According to the latest Census Bureau Report, sales of newly constructed homes soared to new heights in June to a seasonally adjusted rate of 592,000. This marks the highest annual rate in 8 years.
Trulia’s Chief Economist, Ralph McLaughlin had this to say:

“New home sales jumped sharply in June, and marked the best month since February 2008. This is a continued sign that demand for homes remains solid and aptly reflects increasing homebuilder confidence.”

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Sales have been climbing consistently over the last six months as shown in the graph below.

One of the many reasons why many homeowners turn to the new homes market to find their dream home is due to the lack of existing homes for sale. As we have mentioned before, buyer demand is outpacing the supply of homes for sale at record rates.

NEW CONSTRUCTION BROWARD COUNTY FLORIDA

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New Construction for Single Family Homes in Broward County Homes built 2013-Today totals less than 300 homes for sale and only 26 homes sold in June. Much of the New Construction is for Luxury Homes in Broward County.
If you look at homes under a Million there are only 113 Homes for Sale and only 18 sold in June:


Then when you look under $500,000 price range you can see there is hardly any homes for sale or sold Newer Construction in Broward County:

Bottom Line

If you are a homeowner who is debating listing your home for sale this year, now may be the time. Meet with a local real estate professional who can help you take advantage of the buyers that are ready, willing and able to buy in your area.

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There is a demand from Buyers to buy well priced homes that are updated. If you are thinking about moving up to your next home, there are buyers ready to buy your home!

Contact Jay Cermak Top Fort Lauderdale Real Estate Agent at 954.235.3589 and schedule a FREE Real Estate Consultation today!

What Does Home Mean to You?

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own home are, more often than not, the more powerful or compelling ones.

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Every year, The Joint Center for Housing Studies at Harvard University conducts a survey to find driving factors behind why Americans decide to buy a home.

The top 4 reasons to own a home cited by participants of the survey were not financial. 

1. It means having a good place to raise children & provide them with a good education

From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their mind as a major reason for choosing the location of the home that they purchase.

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2. You have a physical structure where you & your family feel safe

It is no surprise that having a place to call home with the means for comfort and security is the number two reason.

3. It allows you to have more space for your family

Whether your family is expanding, or an older family member is moving in, having a home that fits your needs is a close third on the list. 

4. It gives you control over what you do with your living space, like renovations and updates

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit for your apartment building, or do you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?

The 5th reason on the list, is the #1 financial reason to buy a home as seen by respondents:

5. Owning a home is a good way to build up wealth that can be passed along to my family

Either way you are paying a mortgage. Why not lock in your housing expense now with an investment that will build equity that you can borrow against in the future?

Bottom Line

Whether you are a first time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.

Contact Jay Cermak Top Fort Lauderdale Real Estate Agent with Keller Williams Realty at 954.235.3589 and schedule a FREE Real Estate Consultation.

Jay Cares about you and has a genuine desire to help people achieve their real estate dreams.  Not all agents are created equal and it's rare to find an agent who cares for your home purchase or sale as if it were his own.  Call Jay Today!

Why You Should Hire a Real Estate Professional When Buying a Home!

Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to go it on their own. In today’s market: you need an experienced professional!

You Need an Expert Guide if You Are Traveling a Dangerous Path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and ready for you to move in to can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your “dream home.”

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A great agent will also have relationships with mortgage professionals and other experts that you will need in securing your dream home. 

You Need a Skilled Negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

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Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family?

If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal. 

Bottom Line

Famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

Whether you are thinking of Buying or Selling a Home contact a professional realtor who cares about you and your time.  Contact Jay Cermak Top Fort Lauderdale Real Estate Agent at 954.235.3589 and schedule a FREE Real Estate Consultation today.