Real Estate Information

For those of you who are looking to invest in real estate, the rental market is gaining strength and rents are increasing in most areas. Multi-Family homes provide great opportunities for good cash flow. They offset your vacancy exposure should one unit become vacant. We suggest that trip-plexes and quad-plexings offer the best Return on Investment (ROI). Click on Multi-Family Financing for additional details 

You'll want to know everything about The Shores at Boca Raton and their community facilities. The community is located right across the street from the South County Park and offers so much. Residents speak highly about the community, the people who live there and the amenities. Click the link to discover The Shores - more than just a community - it's a real neigbhorhood with so much to offer!

This is a good overview of the basic points you need to know if you inherit a property. Most importantly, you need to consult a number of professionals in order to better understand the impact of inheriting a property. They include a Real Estate Attorney, a Tax Attorney and an Estate Planning Attorney.

Here are September's RE Statistics for Boca Raton from the Realtor's Association of the Palm Beaches.

As we approach the last two months of the year, we're seeing some reduction in the number of homes listed for sale and those that are under contract because the market has slowed down since June & July's spike.  Year-to-Date Solds are up significantly because of the low interest rates and incredibly low prices. A recent Sun Sentinel article states that "more jobs, higher wages and a lower unemployment rate are projected for a recovering South Florida in 2012".

While this is positive regional economic news, housing prices will undoubtedly lag behind until job growth creates stronger consumer confidence. Typically, real estate sales increase when consumers feel confident enough to make a major purchase. Appraisers concur that prices will remain flat through 2012. This is a more optimistic outlook than we have seen in years. We expect more foreign buyers will be looking for properties in light of recent European economic problems. Data from the Palm Beach Board of Realtors again points to the stability in the lower to mid-priced market. Properties priced below $500K are outselling more expensive properties almost 10 to 1.

Check out August's RE Statistics for Palm Beach County from our Realtor Association. They're looking pretty good!

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.