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Market Trends
Commentary Provided byTeri Arbogast and Her Team Please visit my site at www.browardrealestateteam.com to learn all about buying and selling short sale property in Broward County! |
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| Report Date | Fall 2009 | ||
| Nearest Metro Area | Fort Lauderdale | ||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | 60-90 days | ||
| Market Trend | Decreasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Inventory Comments | The housing inventory is 'filled with a bunch of nothing.' There are foreclosures that are wreaked with mold, debris and ruined appliances, short sales priced too low to sell and banks unable to process them. These homes are sitting on the market and keeping our inventory stats high. The good listings, with realistic and present homeowners are selling quickly. My last 4 listings that were price right and cared for by responsible homeowners, sold between 2 and 14 days, ALL HAD MULTIPLE OFFERS! | ||
| Average Home Price | $325,000 - View Graph Trend | ||
| Best Selling Price Range | $250,000 - $299,000 | ||
| Worst Selling Price Range | $750,000 - $799,000 | ||
| Compared to Last Year | Down 10-15% | ||
| Prices As % of Asking Price | 90-95% | ||
| Multiple Offers? | Yes | ||
| Multiple Offers Commentary | My experience over the past few months is that homes that are priced right for the market and are well cared for with some upgrades are going quickly and with at least one other offer. | ||
| Greatest Activity | First Time Buyers | ||
| Buyer Activity for the past 90 days in Davie is | Increasing | ||
| Seller Activity for the past 90 days in Davie is | No Change | ||
| Is Financing Available For Qualified Buyers in Davie? | Yes | ||
| Comments on Financing For Qualified Buyers | FHA is working well for most buyers. The problem is that most Condos and many Townhome developments will not accept it. There are several condo developments that have lost their 'reserve' funds due to a high level of foreclosure activity, these condos are 'cash only' now because they don't meet any lender guidelines. | ||
| Existing Home Prices for the past 90 days are | No Change | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 45-50% | ||
| Housing Hot Spots | Shenandoah, Forest Ridge, The Ridge on Nob Hill, West Ridge, Long Lake Estates, Long Lake Ranches, Imagination Farms. Riverstone, Northstar, Emerald Isles, Emerald Springs, Kapok Estates, Stonebridge, New Providence East, Vista Filare, Blackhawk Reserve, Davie Oaks, Davie Acres, Davie acre homes, South Eastern Nova University, Rolling Hills, Arrowhead, Pine Island Ridge, Whitehall, Sabal Palm, Poinciana Parc, Royal Palm | ||
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in Davie! | ||
| Average Sold Price | $325,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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Teri Arbogast and Her Team
Keller Williams Properties Weston, Florida 954-242-8030 teri@terisrealestate.com Agent Home Page 
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Davie Local News
News for Davie, FL - Sunday June 14th, 2009 10:17am
My last 4 listings in Davie all sold within 2 weeks and all had more than one offer! I was lucky enough to get listing with realistic sellers who kept lovely homes and did moderate upgrades. (2 with new kitchens) One of my listings in Poinciana Parc sold the first day it hit the market. Pricing is the key to selling in this market..there are plenty of buyers.
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954-242-8030
