Fort Lauderdale Blog

Starter Home Prices Rise in Midst of Limited Inventory

Starter Home Prices Rise in Midst of Limited Inventory

Fort Lauderdale, Fl

The Spring 2016 homebuying season will soon mark the sixth year into the housing recovery. With steadily rising property values and homeowners' equity, the housing market continues to regain its footing while mortgage delinquency and home foreclosures are falling to all-time lows since the 2007 housing downturn.

Early estimate shows the average home price in April reached $231,000, up 7.4 percent from the same period a year ago. At the current pace of the recovery, this spring and summer will soon mark the first time that home prices will rise above the 2006-2007 peak levels.

Foreclosure Starts Lowest in 16 Years

The delinquency rate for mortgage loans on one-to-four-unit residential properties remained unchanged from the previous quarter at a seasonally adjusted rate of 4.77 percent of all loans outstanding at the end of the first quarter of 2016. This was the lowest level since the third quarter of 2006. The delinquency rate was 77 basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey. 

The percentage of loans on which foreclosure actions were started during the first quarter was 0.35 percent, a decrease of one basis point from the previous quarter, and down 10 basis points from one year ago. This foreclosure starts rate was at the lowest level since the second quarter of 2000. 

6 Essential Things to Look for in a New Home

6 Essential Things to Look for in a New Home

By Kara Masterson

Fort Lauderdale, Fl. Investing in real estate is one of the most financially sound things you can do, but buying a new home might feel intimidating when it is your first time. It is understandable that you’d want to make the best decision possible. Here are six things to look for that can help with your decision.
 
Efficient HVAC System
Heating and cooling count for a large percentage of a home’s monthly operating costs. An outdated heating and air conditioning system will drive up your bills and decrease your comfort. Make sure the HVAC system is one of the newer efficient models and has been well maintained.

South Florida's Housing Market is Slowing Down – Fort Lauderdale Fares the Best

South Florida's Housing Market is Slowing Down - Fort Lauderdale Fares the Best

By Hannah Goodman of Trulia

Florida is a popular destination for home buyers and investors alike.  Not only are prices affordable to a wide demographic in a diversity of locales.  After all, who doesn’t want a home in paradise? As inventory increases and prices rise, the fast-paced Florida real estate market of 2014 and 2015 appears to be slowing down.

Between 2014 and 2015 the nationwide housing market saw a large peak in the speed and amount of homes moving in most of the nation’s coastal metros.

Moving? Here's Your Checklist!

Moving? Here's Your Checklist!

By Barbara Pronin

Fort Lauderdale, Fl. Whether you’re moving across town or across the country, getting ready takes lots of pre-planning. From Real Simple magazine, a moving checklist:

Two Months Before

• Sort and Purge – Go through every room in your home and decide what you will take and what you will get rid of. Plan a garage sale and/or gather up your charitable donations now.

Prepping Your Garden in Spring for Summer Bounty

Prepping Your Garden in Spring for Summer Bounty

By John Voket

Fort Lauderdale, Fl - In this final segment of our three-part series, we turn to homeowners or renters who think they don't have the space to grow anything for their dinner table.

Our sources at the Missouri Botanical Garden (missouribotanicalgarden.org) say vegetables are very adaptable to growing in containers, if given a few basic requirements: full sun, a well-drained soil with organic matter, and consistent watering.

Mortgage Rates Hover Low

Mortgage Rates Hover Low

Fort Lauderdale, Fla

Mortgage rates are largely unchanged and remaining near their low mark for 2016 at the start of the spring homebuying season, according to the recently released Freddie Mac Primary Mortgage Market Survey®. 

Housing Market to Retain Forward Motion, Freddie Says

Housing Market to Retain Forward Motion, Freddie Says

Fort Lauderdale, Fl

While recent data darkened the growth outlook for the first quarter, April data has experts predicting housing will maintain its momentum in 2016 and be an economic engine of growth. This insight comes from data recently released by Freddie Mac. The report shows that recent declines in mortgage rates have also boosted refinance potential.