The current sales market continues to be brisk compared to last year as we posted the 10 straight month of sales gains in Miami-Dade County.
829 homes and condos sold in June with sales prices that were 89% of asking price. The average sales price was $510,000 and the median price was $280,000 and stayed on the market for 128 days. 71% of the recorded sales were REO's bank own foreclosured or short sales. This figure has gone down slightly each month for the last four months as inventory of the best prices properties begins to dry up.
Overall, the HOUSES LISTED FOR SALE decreased relative to last year. In June 2009 there were 10,465 compared to 17,058 in June of 2008. The NUMBER OF HOUSES sold in June 2009 was 846 compared with 508 in June of last year.
This all continues to be good news for the consumers and and home buyers as well as the Real Estate industry as a whole. One very positive sign is that for the last two months NEW HOME sales have increased nationally. New homes, of course, but construction workers and contractors to WORK and that is certainly welcome news.
The National Associatio of Realtors has great advice in this current Real Estate market that should be heeded by any prospective homebuyer.
Here's how to get ready to be and remain a homeowner.
Create a wish list. Write down housing wants and needs. Include all the physical characteristics you want or need. Include style, size, layout and room configuration. Look at the number of bedrooms and bathrooms, and the basic amenities you must have. Include critical features such as location and services and a home's proximity to good schools or public transportation lines.
Browse for housing. greghardcastle.com offers home valuation features and neighborhood data on trends in local markets. Use features to determine how a listing compares with nearby, comparable properties in terms of value, actual sales prices, home features, neighborhood characteristics, and more. In other words.....GET SMART. It doesnt take that much to get alot of very important information on the property and area that you are interested in.
Work with an expert. Finding a real professional who will represent your best interests can make the difference in location, negotiating the best offer, and closing the home of your dreams. Look for a full time real estate agent, who has uploaded telling photos and videos of their listings and look for agents with good Web sites to market your listing.
Get the complete picture before you visit. You can't know everything about a community from an online listing. Schools, crime, and proximity to shopping and work all impact property values. NAR says talk to a Realtor and go to Realtor.com to explore communities.
Make sure the property details are reliable. Buyers need know when a listing has experienced a price change. Look for Web sites like Realtor.com that updates listings frequently, including price changes. Fresh and reliable information is critical. Realtor.com time stamps listings to help buyers make better informed decisions. Get email alerts and stay on top of changes so you can be first to act.
Most of the above mentioned points are steps that an experienced Realtor will walk through with you. Why leave one of the most important financial decisoins you will make in your life time to chance or a novice. And in the end.....thats why IM HERE!
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