April 29, 2016

Homes Continue to Sell Quickly Nationwide

Homes Continue to Sell Quickly Nationwide | Keeping Current Matters

The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report, which revealed that homes were on the market for an average of 47 days in March. This is a decrease from the 59 days reported in February, as well as the 52 days reported back in March 2015.

42% of homes across the country were on the market for less than a month, which is the highest it’s been since July 2015 (43%)!

 Among the states with homes selling in 30 days or less are Washington, Oregon, and Minnesota. The map below was created using results from NAR’s Monthly Realtor Confidence Survey.

Homes Continue to Sell Quickly Nationwide | Keeping Current Matters

Bottom Line

Buyer demand is increasing as the inventory of homes available for sale remains low. If you are thinking about listing your home for sale this year, meet with a local real estate professional who can help you take advantage of current market conditions!

Contact The Edwards Real Estate Group at 954.998.3043 and schedule a FREE Real Estate Consultation with one of our top-notch real estate agents!

The Edwards Real Estate Group serving your South Florida and Fort Lauderdale Real Estate Needs!

Posted in Real Estate News
April 22, 2016

Home Prices Are Up…But There is a Challenge

Home Prices Are Up…but there is a Challenge | Keeping Current Matters

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Home values continue to climb and are projected to increase by about 5% over the next twelve months. That is great news for anyone who owns a home. However, it could present a challenge for a family trying to sell their house.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the sales price when performing the appraisal for the bank.

The National Association of Realtors (NAR) recently released information revealing just how prominent the challenge is in today’s market.

Just Listed in Ft Lauderdale Under $100,000 Under $200,000
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Under $900,000 Under a Million Luxury Homes in Ft Lauderdale

Home Prices Are Up…but there is a Challenge | Keeping Current Matters

 

Find out how much your home is worth $$$

And the challenge is deepening…

Every month, Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation in their Home Price Perception Index (HPPI). Here is a chart showing that difference for each of the last 12 months.

Home Prices Are Up…but there is a Challenge | Keeping Current Matters

As we can see the difference has increased each of the last two months.

Bottom Line

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, meet with an experienced professional who can guide you through this, and any other obstacle that may arise.

The Edwards Real Estate Group has helped thousands of families buy and sell homes, so we know a thing or two about Appraisals when they are good and when they are bad.  We've had success fighting Appraisals and having them re-appraised closer to value.   

The two biggest hurdle in buying any house is an Inspection and Appraisal (when financing is involved) make sure you speak with a Real Estate Professional who is a strong negotiator and can help you overcome those hurdles.

Schedule a FREE Home Buying or Home Selling Consultation with The Edwards Real Estate Group Call or Text 954.998.3043 today!

Posted in Real Estate News
April 20, 2016

33 Intercoastal - New Construction in Coral Ridge Country Club Community

33 Intercoastal New Construction Fort Lauderdale Florida

NEW CORAL RIDGE COUNTRY CLUB WATERFRONT CONDOMINIUM

These Luxury Waterfront Residences with spectacular views will satisfy the most discriminating of buyers.  Each unique residence comes designer ready, with top of the line appliances, European custom cabinetry, wired for smart technology, high impact windows, two parking places per unit, large storage spaces and additional guests spaces. 

The building consist of 5 stories and 11 units with 10 Foot Ceilings.  The first floor is designated for parking, building lobby and owners club room.  The Second, third and fourth floors consist of three residences per floor with two spacious penthouses located on the 5th floor.  For more information Call or Text 954.998.3043!  The Edwards Real Estate Group can help with all of your South Florida Real Estate Needs including New Construction Opportunities!  Best part is when buying new construction it doesn't cost you a dime to use an agent!

DOCKAGE IS AVAILABLE TO ALL OWNERS FOR BOATS UNDER 80′ CONTROLLED BY THE CONDOMINIUM ASSOCIATION.

33 Intercoastal New Construction

FEATURES

  • Waterfront Condominium
  • 11 Luxury Residences
  • Boat Slips with water and electric
  • 250 Linear Feet of Waterfront
  • Deep Water Ocean-Access wide canal
  • Pet Friendly Building
  • Secure Building entry
  • Two Garage Spaces per unit
  • Smart Technology Ready

AMENITIES

  • Heated Infinity pool
  • Golf Cart Available on site
  • Garage Bike Storage
  • Electric Vehicle Charging Station
  • Private Elevator and Entry foyer
  • Zen Garden with Lush Landscaping
  • Private Storage Space
  • Outdoor Barbecue Area
  • Internet Ready

33 Intercoastal - Penthouse Living Room View

RESIDENCES

  • Spacious open floor plans
  • all corner units
  • 10 Foot Ceilings
  • Italian Custom Kitchen Cabinetry throughout
  • Designer Features and Faucets
  • Sub-Zero Wolf Appliances
  • Full Gas Range
  • Electrolux Front Loader Washer and Dryer
  • Designer Tub and Vanities
  • Spectacular Spa-Style Master Bath Retreat
  • Seamless Glass Shower Enclosure and Shower Door in Master Bathroom
  • Oversize Balconies with Glass Railings
  • Floor-to-ceiling impact glass windows & sliders
  • Beautiful intercoastal views and coral ridge skyline views
  • large walk-in closets
  • custom designer closets available
  • wine cooler

Many Floor Plans Available - For all of them please contact us!

Second Floor Plan 

33 Intercoastal - Second Floor Plan

DESIGNER

760876_228f8ddafe4e4974b10e67d300aee05c.jpg_srz_p_587_100_75_22_0.50_1.20_0

MICHAEL BEAMISH DESIGN GROUP INC. has been the premier established interior design firm of Fort Lauderdale for over 38 years. Our professional services and turn key designs offered to clients are of the highest standards and quality. All projects receive our personal attention with a hands-on approach to all coordination efforts.

“I take personal pride in ensuring that my company can meet and exceed your expectations. I work personally on each project, and welcome the opportunity to discuss your project needs.”- Michael Beamish

Community and Surrounding Areas

Located Directory on the Intercoastal Waterway with 250 Feet of water frontage, this architectural masterpiece is in the prestigious section of Coral Ridge Country Club and situated in the heart of Fort Lauderdale, just minutes to the fabulous Fort Lauderdale Beach, Galleria Shoping Center and the Famous Las Olas dining and Shopping Area.  5 minutes from Coral Ridge Country Club and Golf course.

 

To learn more about this amazing New Construction Opportunity in the Desirable Coral Ridge Country Club Community Contact The Edwards Real Estate Group by phone or text at 954.998.3043!  We work, live and play in the Coral Ridge Country Club 

 

 

Posted in New Construction
April 20, 2016

Thinking of Selling? The Market Needs Your Listing!!

Thinking of Selling? The Market Needs Your Listing!! | Keeping Current Matters

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The housing market is really heating up and buyer demand is dramatically increasing as we enter the spring season. However, one challenge to the current market is a major shortage of inventory. Below are a few comments made in the last month by industry experts.

Just Listed in Ft Lauderdale Under $100,000 Under $200,000
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Under $600,000 Under $700,000 Under $800,000
Under $900,000 Under a Million Luxury Homes in Ft Lauderdale

Lawrence Yun, Chief Economist of NAR

“Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what's being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau."

Jonathan Smoke, Chief Economist of Realtor.com

"Low inventories and tight credit will limit the gains we will see in 2016. However, given the level of pent-up demand evident in web activity and stated buyer intentions for 2016, we should see this spring materialize as the busiest season of sales since 2006."

Rick Sharga, Ten-X's EVP

“Inventory is too low to support much higher sales. There's virtually no inventory available at the entry level, and single family housing starts and permits continue to languish at levels far below where they should be at this point of the recovery.”

David Crowe, Chief Economist of the National Assoc. of Home Builders

“Many sellers may not have an absolute decision as to whether to buy an existing home or a new home. So the low inventory of existing homes is locking them in place.”

Freddie Mac

“Challenges remain, with low housing supply and declining affordability being a key concern in many markets.”

Most Analysts are in agreement…we NEED inventory to sell to meet the demand of Today’s Buyer.  Let us rephrase that we need Quality Homes at Fair Market Price to put on the market to sell!

Contact The Edwards Real Estate Group at 954.998.3043 and schedule a FREE Real Estate Consultation today!  We will share with you what’s happening in the South Florida Real Estate Market then we will discuss whats happening on your street for homes similar to yours.

 

Posted in Sellers
April 19, 2016

If You Are Thinking of Selling, Now Is The Time

 

 

 

If You Are Thinking of Selling, Now Is The Time | Keeping Current Matters

 

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If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.

Jonathan Smoke, the Chief Economist of realtor.com, in a recent article revealed that:

“Would-be buyers face a dilemma: There will be more homes on the market over each week of the next three to four months, but there will also be even more prospective buyers. We are entering the busiest season of home buying with the lowest amount of inventory in three years. To be competitive, buyers should get pre-approved for a mortgage and be ready to act quickly if they find a home that meets their needs.”

Smoke goes on to say:

“Listings are growing as they normally do this time of the year, but because demand has been growing faster than supply, homes are selling faster. So the monthly trend is the normal seasonal pattern, but the year-over-year decline is reflective of demand being stronger than supply for more than a year, which is resulting in fewer homes available and faster-moving inventory.”

Just Listed in Ft Lauderdale    Under $100,000 Under $200,000
Under $300,000 Under $400,000 Under $500,000
Under $600,000 Under $700,000 Under $800,000
Under $900,000 Under a Million Luxury Homes in Ft Lauderdale

In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.  The Edwards Real Estate Group is Committed to helping you achieve your Real Estate Needs!  Call or Text 954.998.3043 

 

Posted in Sellers
April 12, 2016

Over Half of Americans Planning on Buying in the Next 5 Years

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Over Half of Americans Planning on Buying in the Next 5 Years | Keeping Current Matters

According to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also included other interesting revelations.

Just Listed in Ft Lauderdale    Under $100,000 Under $200,000
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Under $900,000 Under a Million Luxury Homes in Ft Lauderdale

Those Looking to Buy

  • 74% of those looking to buy a new home will consult with a real estate agent
  • 59% said they will visit online real estate websites
  • 37% will seek recommendations from friends and family
  • 78% plan to get pre-approved before seriously searching for a home

 Those Who Already Own

  • 75% of current homeowners set a budget before looking for a home, and 16% ended up spending less while 13% went over their budget.
  • 63% of American homeowners spent under six months looking for a new home before they made a purchase.
  • 8% bought their home without participating in an active real estate search - or even any plan to buy at all - because a specific property caught their attention.

The last point is very interesting: Of those who purchased a home, 8% bought “without any plan to buy at all”. A property caught their attention and they acted on it.

Why Are More People Not Planning Their Next Move?

Why are people that are considering a move not putting their home search to a plan, and instead, buying only when a property catches their attention? An article by Fannie Mae reveals evidence that a large number of homeowners are dramatically underestimating the equity they have in their current home. The report explains that:

“Homeowners may be underestimating their home equity. In particular, if homeowners believe that large down payments are now required to purchase a home, then widespread, large underestimates of their home equity could be deterring them from applying for mortgages, selling their homes, and buying different homes.”

Bottom Line

Perhaps it is time to sit with a real estate professional to determine the actual equity you have in your house and to take a look at the opportunities that currently exist in the real estate market. This may be the perfect time to move-up, move-down or buy that vacation home your family has always wanted.

Contact The Edwards Real Estate Group your South Florida Real Estate Experts at 954.998.3043 and schedule a FREE Real Estate Consultation Today!

Posted in Buyers
April 11, 2016

Save for a Down Payment Faster Than You Think

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You Can Save for a Down Payment Faster Than You Think | Keeping Current Matters

In a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage of income a renter spends on housing in each state, and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

Just Listed in Ft Lauderdale    Under $100,000 Under $200,000
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Under $900,000 Under a Million Luxury Homes in Ft Lauderdale

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

You Can Save for a Down Payment Faster Than You Think | Keeping Current Matters

 

Download FREE Home Buying Guide 2016

What if you only needed to save 3%?

What if you were able to take advantage of one of the Freddie Mac or Fannie Mae 3% down programs? Suddenly saving for a down payment no longer takes 5 or 10 years, but becomes attainable in under two years in many states as shown in the map below.

You Can Save for a Down Payment Faster Than You Think | Keeping Current Matters

Bottom Line

Whether you have just started to save for a down payment, or have been for years, you may be closer to your dream home than you think! Meet with a local real estate professional who can help you evaluate your ability to buy today.

Contact The Edwards Real Estate Group at 954.998.3043 and schedule a FREE Real Estate Consultation with one of our top-notch Real Estate Consultants!  We will educate you about the buying process, help you determine the best home for you and your family, negotiate on that home and get you into the home of your dreams with as little hassle as possible!  

Posted in Buyers
April 8, 2016

Building Wealth: First Rung on the Ladder is Housing

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Building Wealth: First Rung on the Ladder is Housing | Keeping Current Matters

How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is “an online resource for the most rigorous research and practical information on how a quality, stable, affordable home in a vibrant community contributes to individual and community success”.

A recent story they published, The First Rung on the Ladder to Economic Opportunity Is Housing, discussed the importance of having affordable housing available to as many families as possible because:

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“The ladder to economic success can stretch only so high without the asset-building power of homeownership.

Home equity provides Americans with the ability to send their children to college with less student loan debt and is the primary source of funds for retirement. Half of the assets of Americans over age 55 are in their home.”

Bottom Line

We have often posted that the net worth of a family owning a home is 45 times greater than that of a family that rents. That is not a coincidence.  Are you ready to build wealth?  Are you thinking of Selling your Current home to move into a higher priced home? 

The Edwards Real Estate Can help you buy and sell in South Florida and Fort Lauderdale area!  We are here to help you with all of your South Florida and Fort Lauderdale Real Estate Needs!  Call or Text 954.998.3043 and schedule a Real Estate Consultation today!

Posted in Real Estate News
April 6, 2016

Real Estate: 2016 Will Be the Best Year in a Decade

Real Estate: 2016 Will Be the Best Year in a Decade | Keeping Current Matters

A few weeks ago, Jonathan Smoke, the Chief Economist at realtor.com, exclaimed“All indicators point to this spring being the busiest since 2006.”

Now, Freddie Mac has doubled down on that claim and is saying that 2016 will be the best year that the real estate industry has seen in a decade. In their March Housing Outlook ReportFreddie Mac explained:

“Despite the challenges facing the housing market, we expect this to be the best year for housing in a decade. Home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast…Challenges remain, with low housing supply and declining affordability being a key concern in many markets, but on balance, the housing markets in the U.S. are poised for the best year since 2006.”

The key indicators that have given Freddie Mac such a positive outlook are:

Just Listed in Ft Lauderdale    Under $100,000 Under $200,000
Under $300,000 Under $400,000 Under $500,000
Under $600,000 Under $700,000 Under $800,000
Under $900,000 Under a Million Luxury Homes in Ft Lauderdale
  • Low interest rates
  • A resilient labor market
  • An increase in household formations
  • A projected increase in newly constructed homes

Bottom Line

2016 looks to be shaping up as a great year for residential real estate. Whether you are thinking of buying or selling, now may be the time to sit down with a real estate professional to discuss the new opportunities that are arising.

Contact The Edwards Real Estate Group at 954.998.3043 and schedule a Real Estate Consultation with one of our top-notch Real Estate Agents!  

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Posted in Real Estate News
April 4, 2016

Don’t Wait! Move Up To Your Dream Home Now!

Don’t Wait! Move Up To Your Dream Home Now! | Keeping Current Matters

Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates have stayed near historic lows.

Just Listed in Ft Lauderdale    Under $100,000 Under $200,000
Under $300,000 Under $400,000 Under $500,000
Under $600,000 Under $700,000 Under $800,000
Under $900,000 Under a Million Luxury Homes in Ft Lauderdale

Sellers should realize that waiting to make the move when mortgage rates are projected to increase probably doesn’t make sense. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain budget for your monthly housing costs. 

Here is a chart detailing this point:

Don’t Wait! Move Up To Your Dream Home Now! | Keeping Current Matters

According to Freddie Mac, the current 30-year fixed rate is currently around 3.75%.With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, by $10,000).

Freddie Mac predicts that mortgage rates will be closer to 4.7% by this time next year.

Act now to get the most house for your hard-earned money.

Contact The Edwards Real Estate Group at 954.998.3043 and schedule a FREE Real Estate Consultation with one of our top-notch Real Estate Agents!

Posted in Real Estate News