South Florida Real Estate Market Info 

Is the real estate market showing signs of a bottom or will it continue to fall? 

As an actively practising CPA here in Florida for the last 20 years and as a Realtor specializing in quality homes East of Federal Highway, I've found that for families in need of a home, the idea of timing the residential real estate market is a waste of time. They can rent or they can be buyers. Usually their intention is to stay put for a few years at least. For the past three or four years, it’s made sense to rent your home. The typical monthly payment for a homeowner is higher than that for a renter. In order for it to make financial sense to buy property rather than rent, there must be an increase in home price value. Sure, there’s some tax benefit to home ownership, but that alone is never enough to compensate for the monthly payment difference. Now, I’m not even addressing intangible benefits: family financial and emotional security, community belonging, choice as to school districts, and so on.

In my opinion, home buyers should now be seriously looking to commit to their home search. The purchase of a correctly priced home for sale right now will be worth significantly more in 3-5 years. A 2008 or 2009 residential real estate purchase will turn out to have been a great time to get in. A serious home buyer should be shopping for homes with a pre-commitment letter from their lender. The home seller will look more favorably on your offer if it’s accompanied by proof of your ability to close on the sale. I can help get this started by working with you and lending professionals who I know can be trusted.

Home sellers who need to sell now should be very careful to properly price their home for sale when they initially list it, as the first month is the optimal time to get an offer. Any home listed for sale for more than a month without an offer coming in, even if rejected, is priced too high. One thing that has not changed during this difficult market is that the home for sale which will sell in a neighborhood are among the lowest priced in it’s category as well as being in the best condition. Among my services to home sellers are proper pricing, coordination of home staging, if necessary, and advice on preparation to sell.

Some of the best residential real estate opportunities are in Las Olas Isles, Lauderdale by the Sea, pretty much anything that's waterfront and many other waterfront and condo developments east of I-95. Of increasing interest are Condo-Hotels. These were priced too high by the developers originally but now have come down dramatically. Please contact me for information on  Fort Lauderdale, Lauderdale-by-the-Sea and Las Olas Isles communities and neighborhoods, advice about finding a mortgage, and preparing your home for sale.
 

Home buyers can begin their search for the ideal home by viewing current residential real estate for sale listings drawn from  the South Florida Multiple Listing Service (MLS).  If interested in any particular property, please click on "Request more info" and I'll respond quickly to your request.

 

If you’re selling, you can get help determining the value of your home or property for sale by requesting a Home Value Report which will include the prices of similar homes and properties in your neighborhood that have recently sold or are currently for sale. Contact me for a free, no obligation assessment of the market in your neighborhood and your home’s probable current selling price.

Mark D. Warshaver, Certified Public Accountant, Realtor