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Real Estate Market Updates

August 2021 Real Estate Market Update: Broward County

“The Broward County housing market ended summer just as hot as we expected! This area continues to be one of the most sought-after markets and top destinations to relocate to. As the market heats up, the appeal to invest in the housing market is increasing by the day, which has led us to another double-digit jump in median sale price to $495,000. It’s worth noting that closed sales were down for the...

FOR SALE: Ultra Modern, Highly Upgraded, Furnished 2/2 Condo in Downtown Fort Lauderdale

INSIDE UNIT # 2007: The Most Highly Upgraded & Fully Furnished 2/2 Condo at NuRiver Landing in Downtown Fort Lauderdale is now available FOR SALE!  High Floor. Ocean, cruise ship, south views. Brand new appliances. Smart fridge w music. TVs 82″ & 65″. Porcelain & bamboo floors. European kitchen cabinets & bedroom doors. Motorized window shades w/ remotes. Frosted glass bath door....

Mortgage Rates Dip Lower; 30-year Loan at 2.86%

Freddie Mac: It’s down from 2.88% last week and close to the 2.87% the 30-year FRM was at this time last year. The 15-year FRM now stands at 2.12%. WASHINGTON (AP) – Average long-term mortgage rates dipped lower this week as economic prospects continued muted amid a wave of new delta variant coronavirus cases. They remained under 3%. Mortgage buyer Freddie Mac reported Thursday that the average...

Bidding Wars Reach Their Lowest Level This Year

Competition for homes on the market is lessening, which could provide an opening for home buyers who have been losing out amid this year’s bidding wars. In August, about 59% of offers on homes written by Redfin agents faced competition, which is a record low for this year and the lowest level since 2020, according to a Redfin analysis. That’s down from a peak of 74% in April. There have been...

As Inventory Improves, Consumer Confidence Inches Up

The housing market is showing some sings of cooling, which may be making more home buyers more optimistic in a competitive market. Thirty-two percent of consumers said in August it’s a good time to buy, up from 28% in July, according to Fannie Mae’s National Housing Survey, a survey of 1,000 U.S. adults. That marks the first sign of progress in home buyer sentiment since March. However, 63% of...

Buyer Demand Didn’t Drop – It’s Hoping for a Crash

Frustrated homebuyers remember the last housing crisis and think it’s going to happen again as prices keep going higher and higher – but they’ll likely be disappointed. FORT LAUDERDALE, Fla. – People who have spent months trying to find an acceptable, affordable home in South Florida are starting to think they’ll wait until the market collapses and they can snatch up a house at a...

Fed Move Might Raise Mortgage Rates by Dec.

The Fed is discussing a cut in bond purchases later this year, and if they do so with mortgage bonds, the system would be pressured to raise mortgage rates. WASHINGTON (AP) – Federal Reserve officials last month discussed the idea of beginning to dial back their extraordinary support for the U.S. economy later this year, though they stopped short of a firm decision on a timetable. The...

Signs of a Cooling Real Estate Market

The overheated market may be slowly cooling. Even if July numbers just reflect the usual summer slowdown, it could mean traditional patterns are starting to return. FORT LAUDERDALE, Fla. – Homes in South Florida are a little less overvalued than they were a month ago, a positive sign after a year of insane pricing. Homes in Palm Beach, Broward and Miami-Dade counties sold for 13% above their...

Supreme Court Ends Eviction Moratorium

In a 6-3 decision late Thursday, the U.S. Supreme Court ended the Centers for Disease Control and Prevention’s eviction moratorium. The move brings relief to the country’s small housing providers, who have faced financial hardship for more than a year. In a statement sent to all members overnight, the National Association of REALTORS® said, “This decision is the correct one, from both a legal...

Attention South Florida Homebuyers (2021)

As you probably already know, the South Florida real estate market is HOT! If you've been looking to purchase a home in Fort Lauderdale or elsewhere in South Florida but concerned about increasing prices, low inventory, bidding wars and more - There are some things you should know and winning strategies to help you succeed in this highly competitive real estate market. In this video, we'll talk about a...

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