The Federal Reserve cut U.S. interest rates by a hefty half-percentage point today as part of an ongoing aggressive effort to halt a sharp slowdown in an economy hit by a credit crunch.
MiamiJustListed.com News: Foreign buyers scoop up U.S. real estate
In a slow housing market, one type of buyer is still bullish on America -- foreigners. According to a new study by the National Association of Realtors, about one in five American real estate agents sold a second home in 2007 to a foreign buyer, defined as someone who has legally entered the United States to buy a home. A quarter of the agents surveyed said their business with overseas buyers had increased over the past five years.
The average price for a condo on the market in Bal Harbour is $1.3m; in Sunny Isles Beach, $246,528,180.00 worth of condo real estate was sold in 2007, up 10.2% and the average value of a condo in Sunny Isles Beach is up 30.9% or $690,555.00. In Aventura 651 apartments were sold/leased in 2007 and the average sales price for a condo in Aventura is $477,699.00 (Source: NAR).
Viva para LIBRE* en los Lagos Hollywood: Hogar Para La Venta: ¡Joya! 4/4 en 1.5 L, con la casa separada enorme de la huésped
MiamiBroker.US Real Estate News: Fixed-rate loans sank to their lowest levels in 4 years
MiamiBroker.US Real Estate News
Get ready for another funds rate cut at the scheduled January 29-30 meeting - with more coming in the spring!
Target: 2.5%
MiamiBroker.US Real Estate News
The 2007 Real Estate Year in Perspective
Despite flagging confidence in the credit market and therefore housing market, 2007 will end as the fifth best year on record.
And although the year had its ups and downs, today's homeowners, buyers, and real estate investors are laying the foundation for building long-term wealth.
Over the past three decades, home values have risen an average of more than 6 percent annually.
In 2007 in many metro areas, prices are up. Areas with population or job growth are seeing the strongest home price gains.
Mortgages are available near historically low rates and will even fall further. If the FHA Modernization Act recently passed by both houses of Congress becomes law, more home buyers would benefit from safer alternatives to risky mortgage loan products.
With improved mortgage conditions and solid economic fundamentals, the 2008 real estate market looks to be on firm footing.
Katerina Brosda, Broker Associate
http://www.miamijustlisted.com/
Stable Existing-Home Sales Expected in Early 2008, then Gradual Rise
Over the next few months, existing-home sales are expected to hold fairly steady as indicated by pending sales activity, then rise later in the year and continue to improve in 2009, according to the latest forecast by the National Association of Realtors®.
MiamiJustListed.com: Real Estate News
The average price for a condo on the market in Bal Harbour is $1.3m; in Sunny Isles Beach, $246,528,180.00 worth of condo real estate was sold in 2007, up 10.2% and the average value of a condo in Sunny Isles Beach is up 30.9% or $690,555.00. In Aventura 651 apartments were sold/leased in 2007 and the average sales price for a condo in Aventura is $477,699.00 (Source: NAR).
La Perla Ocean Residences Condo for Sale in Sunny Isles Beach
350 Las Olas Place Condominium a Luxury Condominium in Ft. Lauderdale, Florida
Content © 2009 'Frequent Contributors'. Design © 2009 ActiveRain Corp.
Logos and service marks owned by copyright holder.