S & J Journal

Price appreciation, low mortgage rates, and declining inventories in 2013 together contributed to more bidding wars. Take a look at our Sunday, December 29, 2013 Miami Herald Neighbors page for a market outlook...

You might be interested in reading... Mormon church-owned company buys huge swath of Fla. Italy is stepping up its presence in Florida Investors bought 14% of U.S. homes in Sept. Report: Florida a housing market to watch in 2014

I wanted to share this interesting article from CNN news: "The housing market has made a big comeback over the past year; home prices have surged some 8% and homebuyers can't seem to buy up properties fast enough. But just as quickly as the market is gaining ground, some industry experts worry it will come crashing back to Earth. Here are three reasons the housing market recovery may not last..." Read more.

The New York Times reported this week that evidence is showing a recovery in the housing market. This is due to reports that prices are going up…and so are sales. Builders are constructing again. Homes are also being sold for asking price and sometimes above asking. Although the article says this is a positive movement, it says it will be slow. Many Americans are still in default of their loans, and owe more than their home is worth, making it impossible to sell. But the positive, upward trend is evident in the data: ·          S.&P./Case-Shiller index reported earlier this week that sales prices for existing homes rose in April for the first time this year. ·          National Association of Realtors said Wednesday that pending home sales climbed to the highest level since the end of a federal tax credit for first-time buyers in September 2010. ·       ...