Thank you,

Jim Demarest, GRI
Keyes Company Realtors
(954) 647-4713

Sent by wireless PDA to avoid delay

County Assessments Updated by June 1

The county property appraiser has committed to having assessed values posted by the first of June. To check the value of your property use the Broward County website http://www.bcpa.net/ , click on 'Property Search' and follow the look up instructions.

What More Can I Say About INTEREST RATES?

Mortage rates continue to be a great aspect in this buyers' market. For example, the purchase of a $250,000 home at the interest rates in place last July would've cost about $250.00 more than a purchase today. That's an annual savings of $3,000.00 (a nice vacation...perhaps?)

Is the END Near?

There are a lot of interesting trends developing to suggest that the real estate market might be approaching a turning point toward a healthier state. The charts in this post present the inventory of available properties in terms of months' inventory. This is derived by dividing the number of properties on the market by the number of sales for the month. A 'normal' market has an inventory of 12 months or less. It is encouraging to see steady progress toward that level.

Sales Analysis for April

Once again distressed sales (Foreclosures and Short Sales) dominated the numbers of single family homes sold in April. The number of distressed sales represented just under 61% of total sales in the month with dollar volume of 56.7%.

Better Economic News Lifts Mortgage Rates Slightly

This week provides a sign that the great mortgage rates we've been enjoying won't last forever. As we raise out of the recession, interest rates will follow. There are lots of great buys out there folks and these historically low interest rates coupled with a tax credit for those who qualify make this the year to BUY!

Average Rates Repeat Historical Low

Average interest rates again met the historically low rate of 4.78% this week. The interesting thing to note is how much rates have dropped since just October of last year (see chart). In real-money terms this means that a mortgage of $200,000 would have a payment about $220 lower today than one taken out in October.

These rates make this an even more inviting market for buyers and with the inventory of un-sold homes shrinking, NOW is the time to get serious.