Real Estate, Community News & More from My Desk to Yours

Monday, May 31, 2010

Interest Rates Drop Below 5%

Mortgage interest rates are now at their lowest levels of the year, according to a Wall Street Journal article released just last week. Experts say rates could dive as low as 4.5% in the next few months. Low rates mean home-buyers have a great opportunity to buy a home with lower mortgage payments. For every 1% reduction in the interest rate, it is like getting a 10% reduction in the home price making it a great time to make a “move.” Economists have attributed the drop in mortgage interest rates to a surge of international investment in the U.S. bond market.  Call us today for a Free Market Analysis, (305) 446-2001. We Need Listings.

Monday, May 24, 2010

Real Estate Market Stabilizing

The market is stable and improving (perhaps positively influenced by the recent first-time homebuyer credit). Sales of existing single-family homes in Florida rose 24% in the first quarter of 2010 compared to the previous year, according to the latest housing statistics from Florida Realtors®. This marks the sixth straight quarter of increased sales across the state in the single-family home market. In Coral Gables, there is a diminishing supply of inventory. Buyers should begin looking for homes before prices start to rise. Coral Gables’ sales on single-family homes rose comparatively by 56% from 2009 to 2010, more than double the rate of the state’s figures.