Thinking about Selling your Real Estate ?

Seven years after the housing market began to collapse, rising prices and thinner inventories are presenting new opportunities for home sellers. Some hot markets are even seeing multiple offers for the same property—a phenomenon rarely seen since the boom years—as buyers become more confident and seek to take advantage of today's near-record-low mortgage rates. Home prices nationally climbed 8.3% in December from the same period a year earlier, according to CoreLogic, CLGX +2.61%a real-estate analytics company. The increase was the largest since May 2006 and the 10th consecutive monthly gain. The CoreLogic figures include foreclosures and other distressed sales. "You will unambiguously see more people test the water," says Thomas Lawler, an independent housing economist in Leesburg, Va. He expects home prices to rise another 3% this year. Thinking about selling? You are likely to find a buyer more quickly and at a better price if you factor in local market conditions and recent sales before setting an asking price, burnish your home's Internet profile and plan ahead for a home appraisal. Acting soon may pay off as well. While trends vary by region, buyer search activity generally peaks in March and April, while seller listings peak in July, says Jed Kolko, chief economist at real-estate website Trulia.com. "Most sellers would be better off if they pushed the process up a couple of months," he says. Sellers could face headwinds if mortgage rates jump or the economy weakens, while the supply of homes for sale is likely to increase over the next few months, creating more competition, say real-estate agents. Don't expect to make a killing. Even after the recent gains, home prices remain about 27% below their 2006 highs, according to CoreLogic. In some markets, prices remain so low that selling is likely to prove painful—unless you are looking to buy a more expensive home at a discount. Still, in many markets, sellers have more of an edge than they have had in years. One big reason: The number of existing homes on the market dropped to 1.74 million in January, down 25% from a year earlier and the lowest level since December 1999, according to the National Association of Realtors. Houses are also selling faster. The median number of days on the market for homes in January was 71, according to the Realtors group, meaning half of all homes sold within that time. That's down from 99 days one year ago. "I feel more confident, even if prices aren't at the height they were six or seven years ago," says Ms. Tolli, who has set a $1.2 million asking price for the five-bedroom waterfront property. That is more than it would have fetched a year or two ago, she says, but still well below its peak value of more than $2 million. If you are thinking of making a move, start by assessing conditions in your local market...focuse on five measures: price changes, the inventory of homes for sale, competition from foreclosures, the average time it takes a home to sell and the gap between selling prices and list prices. But sellers shouldn't be complacent. Here are some steps to consider: 1. Interview multiple agents. Some people prefer to handle the selling process themselves. But if you plan to use a real-estate agent, start by interviewing several contenders. Narrowe your search to agents who have handled many sales in your neighborhood. They are likely to have the best view of local market conditions and can better assess what your home may sell for and how it should be marketed. 2. Adjust your sights to today's market. Set aside what you home might have fetched in 2006 and focus instead on what homes are selling for today. 3. Don't overreach. Given today's thin inventories, it is tempting to reach for the stars. But if you get greedy and set the price too high, you are likely to wind up in a downward spiral. "You are going to have your largest viewing audience in your first days on the market, when the house is the newest product on the shelf," says Lloyd Fox, a broker at Long Realty in Scottsdale, Ariz. If the price is too high, buyers and agents are likely to relegate your listing to the sidelines. Properly priced homes are likely to get eight to 10 showings their first week on the market and an offer soon after, Mr. Fox says. If not, "you have missed the market" and it's likely a price cut is in order, he adds. 4. Weigh multiple offers carefully. In cases of multiple bidders, you should focus not just on price, but also on terms. In comparing two competing bids at similar prices, Realtor recommends choosing the buyer who is putting down more cash or is willing to forgo an inspection, since those deals are likely to close sooner and with fewer hassles. 5. Clean up your act. Even in a market where inventories are thin, a home isn't likely to sell if it looks shabby or crowded. At a minimum, you'll need to touch up the paint, clean the carpet and pare your possessions. ** A version of this article appeared February 2013, in the U.S. edition of The Wall Street Journal.(LinkedIn) Think of Selling or Buying real estate in South Florida? Allow us to serve your Real Estate Needs. All the Best, Esperanza Franky "espie" Realtor Member of The Institute for Luxury Home Marketing "Selling Miami Estates" team with One Premier International Realty Cell: 305.283.5868 Follow us via Twitter: @espiefranky Marketing Florida Real Estate at the Highest Level !

Strong start to the year for Florida’s housing market !!

'For the thirteenth straight month, Florida has seen the median sales prices for both single-family homes and for townhouse-condo increase over their year-ago figures, according to a report released today by Florida Realtors, a statewide industry group. The report also showed increased closed and pending sales as well as a drop in inventory for January. Florida’s closed sales in January of existing single-family homes grew 11.7 percent from last January, to 13,679 from 12,247, the report said. Pending sales grew 31 percent over the previous January, to 23,502 from 17,945. The median sales price rose 12.4 percent over the year-ago figure — from $129,000 to $145,000. Closed sales of Florida’s townhouse-condos in January grew two percent from last January, to 6,670 from 6,539. Pending sales grew 17 percent over the previous January, to 11,779 from 10,066. The median sales price in the state jumped 18 percent over the year-ago figure — from $94,000 to $112,000, per the report. The report also stated that inventory for single-family homes stood at a 5.6-months’ supply in January, while inventory for townhouse-condos was at a 6.2-months’ supply." ** from The Real Deal, South Florida Real Estate magazine. During the month of January 2013, 15 Luxury properties went 'Pending Sale' in the Beautifull City of Coral Gables, of 42 New Active listings. During the month of February only 7 have been placed as 'Pending Sale' of 47 brand new Active listings. Please give us a call for a confidential market analysis. All the Best, Esperanza Franky "espie" Realtor Member of The Institute for Luxury Home Marketing "Selling Miami Estates" team with One Premier International Realty Cell: 305.283.5868 Follow us via Twitter: @espiefranky Visit our Blog: www.sellingmiamiestates.com Marketing Florida Real Estate at the Highest Level !

Decor color fashions for 2013 !!

Spring is in the air and the fashions for Spring 2013 are already appearing in the retail stores. While it's always interesting to see what clothing designers are offering for the upcoming season, what's of more (or at least equal) interest to real estate professionals is what's ahead in home fashion and decor. Here is a sneak preview of the colors which will dominate this Spring in both clothing and in home interiors. The hues you see on the runway are predictors of the colors which will soon be seen in wall paints, furnishings, and other home fashions from towels to tablecloths. So, if you want to know the colors which top builders and interior decorators will be working with later this year, see the Top 10 hues in the “Spring 2013 Fashion Color Report” from Pantone. Download the report and you’ll also get a bonus peek at the fashions retailers are hoping you’ll take home and add to your closets. The “Top 10” colors are the colors you’ll want to keep in mind as you stage your listings (color makes things look fresher and more appealing). With colors like these on the home fashion horizon, it appears that Spring will be bright! Down load the Complete Spring 2013 Color report:: http://www.pantone.com/downloads/support/FCR/PANTONE_FCR_Spring_2013.pdf ** from The Institute For Luxury Home Marketing blog.

Housing: It’s Becoming a Seller’s Market !!

The National Association of Realtors said on Thursday what home buyers in many parts of the United States have known for months: it’s becoming a seller’s market. The number of homes listed for sale in January fell by 4.9%, leaving 1.74 million properties on the market. That’s the lowest since December of 1999, when there were 1.71 million homes on the market. By contrast, there were 2.91 million homes on the market two years ago at this time. After adjusting for seasonal factors, home sales rose by just 0.4% in January, to an annual rate of 4.92 million units. Still, that’s up from 9.1% one year ago. The upshot is that there’s a growing pool of buyers chasing a shrinking supply of homes. If the trend holds, prices will keep going up. At the current pace of sales, it would take just 4.2 months to sell the current supply of homes available for sale, down from a 6.2 months’ supply one year ago. While inventories typically increase in the spring, the Realtors’ group has expressed growing concerns that sales volumes are being held back by the lack of choice. This is good news for homeowners who have watched home prices drop over the last six years, but it’s bad news for buyers—and for anyone that makes their living selling real estate. Inventory declines have been the most dramatic in California, Arizona, and other markets that witnessed some of the largest home price declines. Those cities have large numbers of underwater borrowers—people who owe more than their homes are worth—while many others may have equity but aren’t willing to sell because prices have fallen so far. Investors have also been aggressive in buying up properties that are selling for less than their replacement cost. National Association of Realtors Home sales could rise to 5.2 million units this year, an increase of nearly 12% from last year, according to economists at Goldman Sachs GS -2.77%. They base their forecast on household formation and demographics, which both suggest rising demand for housing in the coming years, and affordability measures such as mortgage rates and home prices. But the economists note that there’s a considerable amount of uncertainty that could make those targets hard to hit, particularly if there’s nothing for would-be buyers to purchase. ** from WSJ Blog / Real Estate News and Analysis from The Wall Street Journal

Rising sea levels could have drastic impact on South Florida coastline

Rising sea levels could have drastic impact on South Florida coastline ! With the rate of rising sea levels accelerating, the impact to South Florida coastal towns in coming years could be drastic, lawmakers learned yesterday during a presentation of an 84-page action plan compiled by county planners and water managers last fall. The report found that coastal properties in Palm Beach, Broward and Miami-Dade counties and the Keys at risk. “The upper estimate of current taxable property values in Monroe, Broward, and Palm Beach Counties vulnerable in the one-foot scenario is $4 billion,” the report said, referring to a one-foot rise in sea levels, “with values rising to more than $31 billion at the three-foot scenario.” The grim report has several lawmakers calling for more state aid to combat the problem, the Post reported. The lawmakers hope to frame it as a state economic problem in light of the residential properties with high taxable value. The problems wrought by rising sea levels can already be seen in certain areas where regional flooding and saltwater intrusion are becoming common. But it could get a lot worse as analysts predict a climb of at least an additional nine inches over the next 50 years. [Palm Beach Post]–Sanna Chu ** As per The Florida Real Deal, South Florida Real Estate Magazine. Thinking on Selling your Estate ? Make sure to meet with Professionals for a Detailed market analysis. It will be our pleasure to serve your real estate needs. All the Best, Esperanza Franky "espie" Realtor Member of The Institute for Luxury Home Marketing "Selling Miami Estates" team with One Premier International Realty Cell: 305.283.5868 Visit our Blog: www.sellingmiamiestates.com & Follow us via Twitter: @espiefranky Marketing Florida Real Estate at the Highest Level !

Looking for JUMBO LENDERS !

2013 has started strong in sales of LUXURY Real Estate in South Florida. Many potential buyers ask us what is the best jumbo loan ? who offers it? what rates are available ? With this in mind we are inviting ALL JUMBO LOAN LENDERS to send us their answers to the above and their contact information. Kind regards, Espie Franky Realtor, Luxury Member, BBA 305.283.5868 espiefranky@gmail.com visit our Blog: www.sellingmiamiestates.com follow us via Twitter: @espiefranky Sent from my iPad

"Market for Trophy Homes is SIZZLING" !!

South Florida Ultra Luxury real estate market is on fire !! important concepts to have in consideration.... * the trend in the last several years is a DEMAND for Vey High Quality Product !! * High Net Customers are looking for Great Locations as well as Exotic Materials; such as Brazilian woods, Italian marbles and exotic stones including Onyx and mother pearl ! * Listing Prices for the fanciest single family houses & condominiums are soared to levels never before seen. * Renewed Interest from New Yorkers, and other ultra rick North Easterners to purchase Luxury real estates in South Florida. * Miami is emerging as an even greater magnet for the worlds Super Rich ! * The Ultra Rich Market is realizing how valuable the bay waterfront is! South Florida, Specially Miami is running out of prime ocean front and bay front sites ! * Newset architectural trends envision tropical modern style that fuses the indoors & outdoors ! * Many Top Tier Luxury Home buyers are going for the more contemporary looks such as glass houses with sleek modern feel, instead of the mediterranean architecture! For more information on Active, Pending sale or recent closed luxury estates, contact us 305.283.5868 or via email at espiefranky@gmail.com We will Appreciate Your business & referrals ! Kind regards, Espie Franky Realtor, Luxury Member, BBA dir: 305.283.5868 visit our Blog: www.sellingmiamiestates.com follow us via Twitter: @espiefranky

RE Mortgage Interest Rates start Climb....

Mortgage applications down as rates climb The number of mortgage applications for the week ending February 13, 2013 decreased 6.4 percent on a seasonally adjusted basis from the previous week, the Mortgage Bankers Association announced today. On an unadjusted basis, the Index decreased 5 percent compared with the previous week. The Refinance Index decreased 6 percent from the previous week. The seasonally adjusted Purchase Index decreased 10 percent from one week earlier, reaching its highest level since the week ending May 7, 2010. Unadjusted, the Purchase Index decreased 4 percent compared with the previous week and was 15 percent higher than the same week one year ago. The refinance share of mortgage activity held at 78 percent of total applications. The adjustable-rate mortgage share of activity also held at 4 percent of total applications. Interest rates for 30-year fixed-rate loans with conforming balances, continuing an upward trend for eight of the last nine weeks, increased to 3.75 percent from 3.73 percent, the highest rate since September 2012. Interest rates for jumbo loans also increased to 3.98 percent from 3.96 percent, the highest rate since September 2012. Rates for Federal Housing Administration-backed 30-year fixed-rate loans stayed at 3.53 percent from the previous week, while 15-year fixed-rate mortgages increased to 3.01 percent, the highest rate since September 2012, from 3 percent. — * from The Real Deal _ South Florida RE Magazine / Christopher Cameron ESPIE FRANKY REALTOR BBA Luxury Market 305 283 5868 Twitter to @espiefranky espiefranky@gmail.com

So Fla ranks 12th in USA as best place to purchase REO's....

South Florida ranked 12th in the nation on best places to buy a foreclosure, and could see nearly 105,000 distressed homes hit the market in 2013, the Palm Beach Post reported based on a new national report from RealtyTrac. Of the 20 most attractive U.S. metropolitan regions in which to purchase a foreclosure, six are in the Sunshine State, including the top-ranked Palm Bay/Melbourne area, the report stated. Rankings were determined on four criteria: months’ supply of foreclosure inventory, percentage of overall sales that are foreclosures, foreclosure sales price, and percent change in foreclosure activity in 2012 from the previous year. The inaugural report was compiled as a way to help address the nation’s current lack of housing inventory, said Daren Blomquist, vice president of RealtyTrac. “These are bright spots in the housing market where buyers will find more homes available,” Blomquist said. Palm Beach County had a 5.9 months’ supply of single-family homes in December, according to the Realtors Association of the Palm Beaches. Moreover, there was a six-month supply of condominiums and townhomes. Palm Beach, Broward and Miami-Dade counties have 104,833 foreclosure homes — a 29 months’ supply — that are yet to be listed, the report stated. Last year, foreclosures in South Florida sold at an average price of $129,941, a steep 30 percent discount from the average sales price of a non-foreclosure. [Palm Beach Post] –Hiten Samtani ** from The Real Deal; South Florida RE Magazine Selling Miami Estates will soon be listing REO properties in South Florida....stay toned to our Twitter @espiefranky and our Facebook page sellingmiamiestates for particulars.