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Kelly Rossow, PA
May 2017 Homes Sales:
May numbers are in. The month's supply of inventory from May 2017 compared to a year before remain the same with 4.9 months of homes on the market.
2015 Sales update:
Here are a few interesting tidbits about the state of the housing market specifically in Palm Beach County. This information is provided by the Realtors Association of the Palm Beaches.
- 11% more homes were SOLD in 2014 than in 2013
- CASH SALES: 46% of purchases were CASH in 2014. This number is down by 6% indicating buyers may not be having to compete against investors as they have in the past few years.
- INVENTORY IS UP 7.7% TO A 5 1/2 MONTH SUPPLY
- INTERNATIONAL BUYERS could strongly affect sales this year as the dollar grows stronger.
August 2014: Palm Beach County Schools start mid month. The Palm Beach County School District is already sending all calls to parents about changes in the bus routes this year. After August 5th, go to palmbeachschools.org "My Bus Stop" icon to double check your pick up in the am and drop off in the afternoon.
July 2014: The Reality of the Market.
Buyers looking in the $250,000-$500,000 price point: be ready to act quickly,pay full price, and be flexible on your terms. Sellers are asking to rent back more often. Move in ready homes are attracting multiple offers and the properties move quickly. Can you? Ask me how I can help you get ready to make an offer on your dream home.
May 2014: Here are the latest Real Estate Stats for Palm Beach County:
Mortgage Interest Deduction-Should it stay or should it go?
The National Association of Realtors is urging homeowners to write your area lawmakers about the hot topic of your home interest deduction. Discussions are expected over the next month in Congress changes could affect your taxes and home investment today and into the future. Check back here for updates.
Short sale vs. Foreclosure property: Wondering the difference?
This was such a great question asked by Debbie that I thought I would share with everyone who visits my site.
The difference between a short sale and a foreclosure is that a bank owns a foreclosure and a short sale is a status where a homeowner is diligently attempting to negotiate with the bank after receiving an offer. Short sales make sense if you have a longer time frame to look and you're not afraid of a 30 day to 2 year wait. Bank properties generally come on the market and first priority goes to a buyer who wants to live in the property. After about a 14 day "on the market period", the bank will consider offers from investors. Here is the kicker to a bank owned, some need enough renovation that they would never be eligible properties for a buyer needing to get a mortgage. That makes some foreclosure or "bank owned" properties suitable only fort an investor/renovation type CASH buyer.
Each situation with an offer is different and I judge by last sold in the area that is similar to type, location, square footage etc. There are times when I will encourage a buyer to start lower than normal and times where I will advise a buyer to bid above asking based on what I have discovered could potentially happen during a negotiation. Many bank owned properties will go above ask price if there are multiple offers. Some that may not be priced correctly/need an excessive amount of repairs will go below the ask price. It truly depends on the individual situation as to how I would help a client determine the price to offer.
Thank you Debbie for asking for clarification!
The Honda Classic is here!
Feb. 24-March 2, 2014
Thursday, February 20,2014
7:00-10:00pm The Honda Classic Kick-Off Party at the Gardens Mall
Sunday, February 23, 2014 Bronze Pro-Am (The Champion Course)
Monday, February 24 12:30-5:30pm Miami Dolphins Pro-Am (The Champion Course)
Tuesday, February 25
All Day: PGA TOUR Professionals Practice Rounds (Champ)
8:30-3:30 Executive Women's Day
4pm Krank Golf Junior Golf Clinic (Champ Practice Range)
Wednesday, February 26 6:50am Gold Pro-Am (Champ)
Thursday, February 27 7:00am The Honda Classic-First Round begins
10:00-3:00 Play Golf Expo
Friday, February 28-Please check back... more updates to come!
The Latest Market Info:
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