Active Listings in Broward County

IMG_3599 - Active Listings Broward August 2017

It is very active real estate market now in Broward County.  There are total of 5285 active listings for single family houses. Here is more detail information:

Homes for Sale
Active Listings
New Listings
Average
Median
Median Days on the Market
$100,000 and Under
44
11
 $        60,937
 $        59,950
70
$101,000-$200,000
312
106
 $     166,444
 $     171,500
57
$201,000-$300,000
681
299
 $     257,554
 $     259,009
40
$301,000-$400,000
986
457
 $     358,686
 $     359,900
39
$401,000-$500,000
744
296
 $     453,307
 $     449,900
46
$501,000-$600,000
522
179
 $     555,066
 $     550,000
59
$601,000-$700,000
372
98
 $     659,175
 $     650,000
72
$701,000-$800,000
284
82
 $     759,713
 $     754,000
67
$801,000-$900,000
173
41
 $     866,901
 $     869,000
66
$901,000-$1,000,000
180
37
 $     968,752
 $     975,000
96
$1,001,000-$1,500,000
347
65
 $  1,259,587
 $  1,250,000
110
$1,501,000-$2,000,000
196
29
 $  1,760,082
 $  1,750,000
117
$2,001,000 and Above
441
55
 $  4,364,722
 $  3,300,000
164
Active Listings Single Family Houses in Broward County August 2017

 

Lets look at the number of single family houses available for sale in Broward County. There are 5282 houses available right now, with 1755 new active listings. Houses listed 200K-400K are selling the fastest, which is 40 days. Average days on the market for the houses under a million dollars are about 61 days, and average days on the market for the houses over a million is is around 130 days. The most of the listings are in the price range 300K-400K, which is 986 active listings.

The data used to make the chart from the Greater Fort Lauderdale MLS which has data that is deemed reliable but not guaranteed and has the most accurate and up-to-date information about local home sales.

If you want more information about local market, please look into Local Market Conditions and Home Prices category.

Top 5 Home Buying Myths

IMG_3355.Blog 07_21_2017. 5 home buying mythsHome buying process for people is usually very stressful. To make it easier and get the answers to many of unknown questions buyers usually ask advice from their family, friends or look up the information on the internet. But instead they should be looking for advice from a professional who really knows, such as real estate agent, lawyer, mortgage broker, or financial adviser.

There are many home buying myths out there. This can stop people from actually buying a house.

Here you will find top 5 home buying myths:

 

Myth #1:
“You need a perfect credit score if you want to buy a home.”

Truth:
Let me tell you the truth – a good credit score really helps. But you don’t need to have an 800+ score to buy a home. Credit score has a range from 500 to 850, with the majority in the range 600 -700. If the credit score is lower, you will get the higher the interest rate, because it will be higher the risk for the lender. If the credit score is higher, so you will have more options to look for the mortgage.

 

Myths #2. “You need a 20% down payment if you want to buy a house.”

Truth:
A 20% down payment would be nice, but not every buyer can afford it. The buyer has to remember, that if the down payment is smaller, you have to pay private mortgage insurance ( or PMI ). Once the buyer makes enough payments that equity reaches 20%, then PMI can be removed.

There are programs for buyers, that you must qualify in order to get them. FHA loans are designed for low to moderate income buyers who can’t make large down payment. This program require down payment as low as 3.5%. There is another program VA, that you can get the house with 0% down, plus it does not require mortgage insurance. But again- you must qualify for it.

 

Myth #3 “A home will increase the value over time”.

Truth:
It is a very common mistake for people to think that any property that is bought will be worth more money in the future. Every home has it is own unique features. The buyer decides how much he is willing to pay for the house. If buyer really likes the house, the location, amenities, he might pay the top price.

If the current owner is trying to sell a house just a couple of years after buying it, so it is very possible the the home value remains the same or even decreases. It is going to be very difficult for the owner to hear from a real estate agent that the home they bought a few years ago has not appreciated in value.

 

Myth #4 “The down payment is the only up front cost”.

Truth:
The down payment is just the beginning expense of the home purchase price. Closing costs can add another 2% to 5% of home’s purchase price. Sometimes the seller will help with the closing cost, but don’t count on it.

The most important fact is that you should keep an emergency cash savings reserve to cover at least 6 months of expenses, including your new house mortgage monthly payment. This is just in case you have any financial difficulties down the road- like loosing a job or similar. So you have to be prepared.

Once you move in, you might need a new furniture. You might need to make some changes in your new home, fix something or make an improvement-again, you have to have savings for it.

 

Myth #5. “Buying is always better then renting”.

Truth:
As I wrote about it here , buying vs renting decision usually depends on your particular situation. It is very important to know how long you are planning to stay here in your new home. I believe the most important factor is how long you are planing of staying in a new home.

When renting you have a freedom to move. When being an owner of a home, you have more responsibility. So you have to make a choice:  if you want to pay rent to your landlord, or pay your own mortgage. If you decide to pay rent, then you have nothing to show of at the end of the rent period. If you decide to pay your own mortgage, so the assets will be yours in the future.

 

Eat to the Beat – Food Trucks & Live Music

IMG_3268 - CopyYesterday I went amazing event in Sports Complex put together by Cooper City Recreation Department.
As I wrote already before, Cooper City is an amazing town that organizes various events for families.
There were bounce houses to keep the kids entertained. There were plenty of food trucks for various picky eaters. It was a great evening filled with live music featuring a Beach Boys cover-band. People brought their lawn chairs and blankets and enjoyed the evening in the park. And the best part, that it was for FREE.

Is Your Sears Store Going to Close?

IMG_2820It was reported on the news yesterday, that Sears is closing another 43 stores.

Sears Holdings (the parent company for Sears and Kmart) announced yesterday that it will close 8 Sears department sores and 35 Kmart store locations, and this is in addition to the list of 236 other stores that were already announced plans to shut down in 2017. Sears closed 240 stores last year and 53 in 2015.

Sears company says in blog post that the closure of stores is  due to desire to “focus on our best stores and return to profitability.”

Chief Executive Officer Eddie Lampert explains “This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores because many of them are simply too big for our current needs.

 

I collected a list of Sears and Kmart store locations in Broward, Miami-Dade and Palm Beach Counties. Is any of these stores going to close in the future? Maybe I should ask instead “Which one of these stores is going to close? When will it happen?”. So, here is a list for you:

Sears locations:

Broward County

  • 3655 Sw 22nd St., Coral Gables, Florida 33145
  • 9565 W Atlantic Blvd., Coral Springs, Florida 33071
  • 1625 Nw 107th Ave., Doral, Florida 33172
  • 532 E Sunrise Blvd., Ft Lauderdale, Florida 33304
  • 901 N Federal Hwy., Ft Lauderdale, Florida 33304
  • 12055 Pines Blvd., Pembroke Pines, Florida 33026
  • 8000 W Broward Blvd Ste 100, Plantation, Florida 33388
  • 2251 N Federal Hwy., Pompano Beach, Florida 33062

Miami-Dade County 

  • 1625 W 49th St., Hialeah, Florida 33012
  • 8090 Nw 77th Ct., Medley, Florida 33166
  • 3301 Nw 107th Ave., Miami, Florida 33178
  • 20701 Sw 112 Ave., Miami, Florida 33189
  • 13475 Sw 128th St., Miami, Florida 33186
  • 3655 Sw 22nd St., Miami, Florida 33145

Palm Beach County

  • 3101 Pga Blvd/gardens Mall, Palm Beach Gardens, Florida 33410
  • 5900 Glades Rd., Boca Raton, Florida 33431
  • 801 N Congress Ave., Boynton Beach, Florida 33426
  • 4560 Forest Hill Blvd., West Palm Beach, Florida 33415

Kmart Locations:

Broward

  • 3800 Oakwood Blvd., Hollywood, Florida 33020

Miami-Dade County 

  • 1460 W 49th St., Hialeah, Florida 33012
  • 14091 Sw 88th St., Miami, Florida 33186
  • 20505 South Dixie Hwy., Miami, Florida 33189
  • 12350 Sw 8th Street, Miami, Florida 33184
  • 3825 7th St North West, Miami, Florida 33126
  • 10700 Biscayne Blvd., North Miami, Florida 33161
  • 900 N Miami Beach Bl., North Miami Beach, Florida 33162

Palm Beach County

  • 1401 W Palmetto Park, Boca Raton, Florida 33486
  • 1201 S Dixie, Lantana, Florida 33462