Coincidentally this month last year (April 2011) we had the exact same number of closed sales as this year. The great difference is in the number of active listings which are almost 22% down from last year. The number of Pending Sales increased dramatically making it very competitive.

Distressed Sales (Short Sales and Foreclosures) represent 26.6% of the market which is less than the 32% to 36% average that had been the trend in the last couple of years.

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The Following graph shows Single Family Homes Market Data for the last 15 months in Weston:

TOTAL NUMBER OF HOMES SOLD 64

To See Homes Sold by Community click here

SS= Short Sales
REO= Foreclosures

Source: MLS and Trendgraphix. The data is provided for informative purposes and doesn’t imply that the authors were involved directly  in these transactions.

In the month of March we had … SFH Closed, it is a significant number considering we are not in the peak season of the market. Homes for sale keep going down and well priced properties in good conditions may get multiple offers. We have been swinging between a balanced market and a sellers market for the lowest price ranges for several months now. (A Balanced market is when we have between 6 and 9 months of inventory based on Closed Sales).

There was an unusual number of Foreclosures and the percentage of distressed sales (40%)  is slightly higher than in the last few months which the average has been around 35%.

Total Homes Closed on March 2012 59

By Type of Financing

By Type of Transaction

To read detailed information of Weston’s Market Trends and Weston Single Family Homes sold by community click read more…

Closed Sales by Community

SS= Short Sales
REO= Foreclosures

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Source: MLS and Trendgraphix. The data is provided for informative purposes and doesn’t imply that the authors were involved directly  in these transactions.

Weston’s Real Estate Market has been moving consistently for the last year.  We ended the month of February with the lowest number of homes for sale we have had since 2004 with under 300 homes for sale in Weston…

We have also noticed a decrease in the percentage of CASH transactions representing only slightly over 20% compared to the times where they represented over 30% of all transactions. The trend in the percentage of distressed sales (short sales and foreclosures) has been steady for many months now.

To read detailed information of Weston’s Market Trends and Weston Single Family Homes sold by community click read more…

WESTON HOMES SOLD BY COMMUNITY

SS= Short Sales
REO= Foreclosures

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If you are interested in finding how much your home is worth, please call us at (954) 588-7260 or contact us.

Source: MLS and Trendgraphix. The data is provided for informative purposes and doesn’t imply that the authors were involved directly  in these transactions.

BY TYPE OF TRANSACTION:
45 Regular Sales
10 Short Sales
9 Foreclosures
The percentage of distress sales has been maintained over the last months representing approximately 30% of all total sales. A number that even though looks high is still lower than the percentage in other areas.

BY TYPE OF FINANCING
32 Conventional Loans
20 Cash Deals
10 FHA Loans
2 VA Loans
It’s interesting to note that the proportion of cash sales (over 30%) is still very high compared to traditional markets. We also notice a higher number of FHA’s loans than what we were seeing in the last few months.

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Bank of America is committed to help troubled borrowers with Loan Modifications and Short Sales.

To read the complete article written by Oppenheim Law please click on the picture…

To stay updated with what’s going on in the Real Estate Market and receive my blog posts directly to your in box subscribe here.
If you are interested in visiting this home or to find how much your home is worth, please call me at (954) 588-7260 or contact us.

When we are approached by a Homeowner who is is considering stop or already stopped paying his mortgage we recommend them to talk to a foreclosure defense attorneys to get a good understanding of what they are getting into (Actually it would be better to meet 2 or 3 to get different points of view). A few years ago most attorneys offered a free first consultation but lately we have heard that most of them charge a basic fee for that first consultation; and I find it’s just fair! Even if you have to pay, it’s important to understand the possible consequences of a short sale, a foreclosure or any other option you may be considering. It is your opportunity to ask all the questions you may have.

In our Rotary Club Meeting this morning we had Roy Oppenheim as a guest speaker and he mentioned his Law Blog. We found in his site this great video that can’t explain better what a Deficiency Judgement is and how it can affect YOU.

If you are considering walking away from your home please call us at (954) 588-7260 or contact us and we can provide you with a few names of attorneys you may contact to set up that important meeting and to help you know how much your home is worth in Today’s market.
To stay updated with what’s going on in the Real Estate Market and receive our blog posts directly to your in-box subscribe here.

64 Single Family Homes Sold in Weston
April 2011

For detailed in formation a list of single family homes sold during the month of April  read more…

For a detailed list of properties sold in Weston on April 2011 click here

INFORMATION OBTAINED THROUGH THE MULTIPLE LISTING SERVICE

To stay updated with what’s going on in the Real Estate Market and receive my blog posts directly to your in-box subscribe here.
If you are interested in buying or selling, please call me at (954) 588-7260 or contact me.

In the last few months I have experienced being involved in multiple offers situations in most transactions…it’s a sign of either shortage of inventory and/or an early start of the spring and early summer high season for our area. We are still having a lot of issues with appraisals where we can notice that buyer’s offers being often higher than appraised values.

For detailed in formation a list of single family homes sold during the month of February read more…

To see detailed information on the properties sold click here.

INFORMATION OBTAINED THROUGH THE MULTIPLE LISTING SERVICE

To stay updated with what’s going on in the Real Estate Market and receive my blog posts directly to your in-box subscribe here.
If you are interested in buying or selling, please call me at (954) 588-7260 or contact me.

Weston Single Family Homes Sales are consistent with the time of the year. For a list of single family homes sold during the month of February read more…

INFORMATION OBTAINED THROUGH THE MULTIPLE LISTING SERVICE

To stay updated with what’s going on in the Real Estate Market and receive my blog posts directly to your in-box subscribe here.
If you are interested in buying or selling, please call me at (954) 588-7260 or contact me.

We all have heard of the many, but some times hard to get options, to stay in the home. With detailed explanations of the benefits, how does each option works,  how to start the process and even videos of people facing similar situations.

Options to Stay in Your Home:
Refinance
Repayment Plan
Forbearance
Modification
Deed-for Lease

Options to Leave Your Home:
Short Sale
Deed-in-Lieu

It is very important to study your options before making a decision like letting go your home to foreclosure. As time goes by Short Sales with some banks are moving faster than in the past I also know a lot of people who have been able to refinance there home. The clue for any of the options is patience and preparation. Provide all the requested information and chances are you will find your best alternative. I have noticed that homeowners get easily discourage if they try to contact their bank and don’t get any feedback…you have to get educated and KEEP TRYING.

Good Luck!!!

If you want to know how much your home is worth and what you can expect if you decide to do a short sale contact me at 954-588-7260.