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Andrena Dimitrijevic's Blog

By Andrena Dimitrijevic | Agent in Florida
  • It’s About to Get Harder to Buy a Home

    Posted Under: Market Conditions, Home Buying, Financing  |  September 17, 2013 10:39 AM  |  660 views  |  No comments
  • Celine Dion Lists Florida Compound

    Posted Under: Home Buying in Florida, Celebrity Homes in Florida  |  September 2, 2013 7:31 PM  |  703 views  |  No comments
  • South Florida home sales, prices rise by double digits in July

    Posted Under: Market Conditions in Miami, Home Buying in Miami, Home Selling in Miami  |  August 22, 2013 3:55 PM  |  848 views  |  No comments

    Do not panic yet, (about the low inventory) there are cranes (new construction homes in the works) everywhere!  I will be happy to show you all the new projects.

    http://LuxeFloridaHomes.com

    http://www.miamiherald.com/2013/08/21/3576677/broward-existing-home-sales-and.html#storyBody


    By Martha Brannigan The Miami Herald

    Read more here: http://www.miamiherald.com/2013/08/21/3576677/broward-existing-home-sales-http://www.miamiherald.com/2013/08/21/3576677/broward-existing-home-sales-and.html#storyBodyand.html#storylink=cpyhttp://www.miamiherald.com/2013/08/21/3576677/broward-existing-home-sales-and.html#storyBody
  • TRENDS Mid-Year 2013 Update: Miami-Dade County

    Posted Under: Market Conditions in Miami, Home Buying in Miami, Home Selling in Miami  |  August 14, 2013 5:37 PM  |  851 views  |  No comments

    And the Beat Goes on

    The beat goes on as the Miami real estate market continues to be on the upswing. Inventory continues to drop and the number of sales continue to increase, resulting in price increases.

    The shadow inventory finally came onto the market in the first six months of 2013, with an increase in inventory of 30% over the same six months in 2012. These foreclosures primarily impact the under $300,000 market segment. Short sales moved in the opposite direction, with a dramatic 77% reduction in inventory. Overall, these distressed properties only represent 16% of what is available for sale.

    New construction is coming on line with new projects being introduced each month, but the question remains: will there be enough resale inventory to keep pace with the demand? In the meantime, expect prices to continue to rise through the rest of 2013.


    Click here to read TRENDS: 2013 Mid-Year Update

  • FREE Annual Credit Report - YOU are entitled to under law

    Posted Under: Home Buying in Miami, Financing in Miami, Rental Basics in Miami  |  August 8, 2013 4:22 PM  |  827 views  |  2 comments
  • Does size matter?

    Posted Under: Home Buying in Miami, Rent vs Buy in Miami, Investment Properties in Miami  |  August 7, 2013 8:49 PM  |  792 views  |  No comments

     

    Most of the new construction condos are smaller (in square footage) with fewer amenities. Does that matter to you?

     

    If you want to see the new construction projects in Miami, go to http://LuxeFloridaHomes.com, and click on my interactive map.

  • Miami Single-Family Home Sales, Prices Surge in June

    Posted Under: Market Conditions in Miami, Home Buying in Miami, Home Selling in Miami  |  August 7, 2013 3:54 PM  |  728 views  |  1 comment
    60 Percent of Residential Sales All Cash

    Increased demand for single-family homes in Miami-Dade County continued in June amid very tight supply that is fueling double-digit price appreciation, according to the 29,000-member MIAMI Association of REALTORS® and the local Multiple Listing Service (MLS) system.

     

    Single-family home sales surged 25 percent, up from 935 in June 2012 to 1,170 this June. Condominium sales increased 5.5 percent, up from 1,421 in June 2012 compared to 1,499 last month.

     

    June's real estate market performance marks 19 consecutive months of appreciation for both single-family homes and condominiums. The median sales price of single-family homesntly increased each month over the last two years, rose 15.9 percent to $185,500 compared to a year earlier and 3.1 percent compared to the previous mont increased 21.1 percent to $230,000 year-over-year and 3.6 percent compared to the previous month. The median sales price of condominiums, which has significah.

    "The Miami real estate market continues to gain momentum fueled by intense demand coupled with very tight supply particularly in the lower price ranges due to investors," said 2013 Chairman of the Board of the MIAMI Association of Realtors® Natascha Tello. "Miami real estate is definitely thriving. Factors such as population growth and foreign buyers are driving record sales for the third consecutive year, which will continue to result in strong price appreciation until more supply comes on the market."

     

    Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops decreased 1.2 percent from May but were 15.2 percent higher than they were in June 2012, according to the National Association of Realtors®.

     

    Lawrence Yun, NAR chief economist, said there is enough momentum in the market, even with higher interest rates. "Affordability conditions remain favorable in most of the country, and we're still dealing with a large pent-up demand," he said. "However, higher mortgage interest rates will bite into high-cost regions of California, Hawaii and the New York City metro area market."


    Compared to last year's figures, the average sales price for single-family homes in Miami-Dade County in June increased 27.1 percent to $509,515, while the average sales price for condominiums increased 9.9 percent to $351,608.

     

    U.S. Median Sales Price

    The national median existing-home price for all housing types was $214,000 in June, a 13.5 percent increase from June 2012, according to the National Association of Realtors® (NAR).

     

    Housing Shortage Persists

    Active listings at the end of June increased 5.1 percent, from 12,544 to 13,179, compared to June 2012, when the market was already experiencing a housing shortage. Despite the slight increase due to more new listings coming on the market, current active inventory remains insufficient to satisfy intense demand for Miami properties. Inventory of single-family homes decreased 2.8 percent to 5,006 active listings, while that of condominiums increased 10.5 percent to 8,173 active listings. At the current sales pace, there is 4.9 months of supply of single-family homes and 5.8 months of supply of condominiums in Miami-Dade, representing a decrease of 15.6 percent and an increase of 2.8 percent respectively compared to year-ago levels.

    "Limited months supply of inventory in Miami reflects a seller's market, which means buyers have to be more focused and savvy while sellers can sell fast if properties are priced right," said 2013 MIAMI Association of REALTORS® Residential President Fernando I. Martinez. "Properties that are competitively priced will sell very rapidly, particularly in the lower price points, and will generate multiple offers close to or above asking price."

    Total housing inventory nationally increased 1.9 percent at the end of June but remains 10.1 percent below year-ago levels, representing a 5.2-month supply.

     

    Distressed Sales Continue to Decline

    Sales of distressed properties continue to sharply decline in Miami-Dade County, as prices for both REOs and short sales also rose significantly. In June, only 36.7 percent of all closed residential sales in Miami-Dade County were distressed, including REOs (bank-owned properties) and short sales, compared to 44.4 percent in June 2012. Nationally, distressed homes accounted for 15 percent of June sales.

    The median sales price of single-family home and condominium foreclosures in Miami-Dade increased 9.7 percent to $141,500 and 29 percent to $116,100 respectively.

     

    Cash Sales Remain Strong

    In Miami-Dade County, 60 percent of total closed sales in June were all-cash sales compared to 65 percent in June 2012. All-cash sales accounted for 42.2 percent of single-family home and 73.8 percent of condominium closings, compared to a year ago when cash sales were 46.1 percent and 77.4 percent of closed sales respectively. Since nearly 90 percent of foreign buyers in Florida purchase properties all cash, this reflects the much stronger presence of international buyers in the Miami real estate market. By comparison all-cash sales nationally accounted for 31 percent of transactions in June, down from 33 percent the previous month and 29 percent in June 2012.

     

    http://LuxeFloridaHomes.com

    http://LuxeFloridaHomes.Blogspot.com

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