Tuesday, December 28, 2010
Case-Shiller Index For SoFLA Better than National Results
So, in real estate these days we find our silver linings wherever they crop up and today's Case-Shiller Index report provides just such treasure only SLIGHTLY tarnished. Media outlets are reporting a decline in home values of 2% in October 2010 (the most recent period analysed by the Index) but that figure is the average for the nation and as we all know, real estate is a LOCAL marketplace. Readers of this humble blog will be able to impress their friends at the remaining holiday parties by pointing out that the change in value in South Florida was 'only' -1.1%.
Tuesday, December 21, 2010
Short Sales a Bit More Prevalent
An analysis of 'distressed sales' (foreclosures and short sales) reveals that a greater proportion of single family homes in Broward County are being purchased through short sales (just over 20% of all sales). Anyone who's been involved in a short sale understands the challenges involved and the patience required. While patience on the part of buyer and seller is still required, this statistic appears to show some hope that a short sale might be a viable option. It remains a mystery why lenders are so reluctant to pursue short sales since the average single family home in Broward County sells for about 30% more in a short sale than in foreclosure.
Wednesday, December 15, 2010
Property Tax Exemption Filing Dates Announced For January 2011
Documents required to file a Homestead Exemption include:
• A current Florida driver's license or Florida identification card, and
• A current voter registration card or declaration of domicile
• Non-US citizens must also provide proof of permanent residency.
Qualified residents 65 years of age or older as of January 1, 2011 may also apply for the additional Senior Exemption. Eligible seniors must have a total household adjusted gross income not to exceed $25,780. Documents required for the Senior Exemption include a 2010 income tax return or, if one does not file income taxes, a copy of the 2010 Social Security 1099 Form.
You still have plenty of time to file for a 2011 Homestead Exemption, Widow/Widower Exemption, Disability Exemption, Portability, or other exemption. Simply contact us to complete your application by the September 19, 2011 deadline.
The Broward Property Appraiser's office holds community outreach meetings frequently to answer questions about taxes and exemptions. Click here for the January calendar.
Documents required to file a Homestead Exemption include:
• A current Florida driver's license or Florida identification card, and
• A current voter registration card or declaration of domicile
• Non-US citizens must also provide proof of permanent residency.
Qualified residents 65 years of age or older as of January 1, 2011 may also apply for the additional Senior Exemption. Eligible seniors must have a total household adjusted gross income not to exceed $25,780. Documents required for the Senior Exemption include a 2010 income tax return or, if one does not file income taxes, a copy of the 2010 Social Security 1099 Form.
You still have plenty of time to file for a 2011 Homestead Exemption, Widow/Widower Exemption, Disability Exemption, Portability, or other exemption. Simply contact us to complete your application by the September 19, 2011 deadline.
The Broward Property Appraiser's office holds community outreach meetings frequently to answer questions about taxes and exemptions. Click here for the January calendar.
Friday, December 10, 2010
GOOD NEWS! 20% DROP in Number of FORECLOSURES in 2011-per TransUnion (the credit score people)
WASHINGTON – Dec. 10, 2010 – U.S. credit bureau TransUnion predicted Thursday the number of delinquent mortgage accounts would drop by nearly 20 percent next year.
The number of delinquent accounts – those with payments 60 days past due – is predicted to fall to 4.98 percent by the end of 2011 from 6.89 percent at the end of 2009.
“This is a welcome contrast to the year-over-year increases of 54 percent between 2006 and 2007, 53 percent between 2007 and 2008 and 50 percent between 2008 and 2009,” TransUnion said in a press release.
Steve Chaouki, group vice president in TransUnion’s financial services business unit, said the decrease in delinquencies could be attributed to “a slowly improving unemployment picture and continued stabilization in housing markets.”
“While there is continued price pressure in many markets, we expect a rise in property values along with some stabilization of values in those states and markets hardest hit by the recession,” he said.
TransUnion said Nevada would see a 24.77 percent drop in its delinquency rate next year while Arizona’s rate would drop 24.27 percent. In Florida, the rate would drop 23.9 percent.
“Interestingly, the states projected to experience the greatest decrease in mortgage delinquencies – Nevada, Arizona and Florida – are the same areas expected to have the highest 60-day mortgage delinquency rates at the end of next year,” TransUnion said.
The states most in need of improvement, in other words, are expected to experience the highest rates of improvement.
Copyright © United Press International 2010
WASHINGTON – Dec. 10, 2010 – U.S. credit bureau TransUnion predicted Thursday the number of delinquent mortgage accounts would drop by nearly 20 percent next year.
The number of delinquent accounts – those with payments 60 days past due – is predicted to fall to 4.98 percent by the end of 2011 from 6.89 percent at the end of 2009.
“This is a welcome contrast to the year-over-year increases of 54 percent between 2006 and 2007, 53 percent between 2007 and 2008 and 50 percent between 2008 and 2009,” TransUnion said in a press release.
Steve Chaouki, group vice president in TransUnion’s financial services business unit, said the decrease in delinquencies could be attributed to “a slowly improving unemployment picture and continued stabilization in housing markets.”
“While there is continued price pressure in many markets, we expect a rise in property values along with some stabilization of values in those states and markets hardest hit by the recession,” he said.
TransUnion said Nevada would see a 24.77 percent drop in its delinquency rate next year while Arizona’s rate would drop 24.27 percent. In Florida, the rate would drop 23.9 percent.
“Interestingly, the states projected to experience the greatest decrease in mortgage delinquencies – Nevada, Arizona and Florida – are the same areas expected to have the highest 60-day mortgage delinquency rates at the end of next year,” TransUnion said.
The states most in need of improvement, in other words, are expected to experience the highest rates of improvement.
Copyright © United Press International 2010
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