U.S. Homes Most Affordable Globally - Florida Remains a Best Buy

NEW YORK – Jan. 28, 2011 – United States real estate offers a lot of bang for your buck, according to a new survey that shows U.S. homes are the cheapest relative to incomes among English-speaking nations.


Australian homes – which have a median price of $454,000 – were found to be the most unaffordable among English-speaking nations, according to the report by consulting firm Demographia, which examined affordability in the third quarter of 2010. The median home in Australia costs 6.1 times the gross annual median household income. What’s more, 85 percent of the homes in Australia’s major cities were more than 5.1 times average income, according to the survey.

On the other hand, U.S. homes have a median home price of $168,000 and homes cost only three times yearly income or less.

Australia has gone from being “the exemplar of modestly priced, high-quality middle-class housing, to now the most unaffordable housing market in the English-speaking world,” the report noted. “Each of the least affordable markets were characterized by more restrictive land use regulation, which materially increases the price of land and makes housing less affordable.”

The priciest city for real estate, in general: Hong Kong, with homes costing 11.4 times income. (The report considers any markets where home prices are 5.1 times household income or more very unaffordable.) Prices in Hong Kong have increased by more than 50 percent in the past two years due to low interest rates, an expanding economy and buyers flooding in from China.

The United States boasted the most affordable major markets. Atlanta was the most affordable big city, in which the median home price is $129,000.

Meanwhile, the most unaffordable markets in the U.S. were mostly found in California: San Francisco (homes cost 7.2 times income), San Jose (6.7 times), San Diego (6.2 times), New York (6.1 times), and Los Angeles (5.9 times).

Source: “U.S. homes most affordable in English-speaking – except in S.F. and S.J.,” Bloomberg News (Jan. 24, 2011)

© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688

Pending Homes Advance for Fifth Gain in Six Months

Good News for Sellers:

WASHINGTON – Jan. 27, 2011 – Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors® (NAR).


The Pending Home Sales Index (PHSI), a forward-looking indicator, increased 2 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

“Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers, allowing them to take advantage of excellent housing affordability conditions,” says Lawrence Yun, NAR chief economist. “Mortgage rates should rise only modestly in the months ahead, so we’ll continue to see a favorable environment for buyers with good credit.

“In the past two years, homebuyers have been very successful, with super-low loan default rates, partly because of stable home prices during that time. That trend is likely to continue in 2011 as long as there is sufficient demand to absorb inventory,” Yun said. “The latest pending sales gain suggests activity is very close to a sustainable, healthy volume of a mid-5 million total annual home sales. However, sales above 6 million, as occurred during the bubble years, is highly unlikely this year.”

The PHSI in the Northeast increased 1.8 percent to 73.9 in December but is 5.3 percent below December 2009. In the Midwest, the index rose 8.0 percent in December to 84.6 but is 5.1 percent below a year ago.

Pending home sales in the South jumped 11.5 percent to an index of 101.9 and are 1.7 percent above December 2009. In the West, the index fell 13.2 percent to 105.8 and is 10.7 percent below a year ago.

 2011 Florida Realtors®

New Home Sales Jump 17.5% in December -

WASHINGTON – Jan. 26, 2011 – While 2010 was not a stellar year for new home sales, it ended on a positive note: December home sales rose 17.5 percent over November home sales on a seasonally adjusted basis, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.


In December, there were 329,000 home sales on a seasonally adjusted basis, strongly surpassing economists’ predictions of 299,000 sales.

While a strong uptick in new home sales marked a positive end for 2010, however, the year ended up as the slowest one on record. The estimated total of new homes sold in 2010 was 14.4 percent below the 2009 level, according to the report.



© 2011 Florida Realtors®

Florida Ranks as Most Pro-Business State in U.S.

ORLANDO, Fla. – Jan. 24, 2011 – BizCosts.com did an analysis on pro-business cities and counties –based on the cost of doing business – and created the nation’s top 20. In the analysis, Orlando came out on top, and five Florida city areas made the list. No other state had more than one area in the top 20.

Florida city areas by rank
1. Orlando

3. Jacksonville

7. Tampa Bay

16. Palm Beach County

20. Broward County

“Florida is one of the most pro-business states in the nation, and it has been for some time,” said John Boyd Jr. with BizCosts.com.

To create the top 20, BizCosts looked at typical business costs, such as the operation of a corporate headquarters building, labor, taxes and travel. To make the comparison between cities fair, it assumed a 75,000-square foot headquarters and staff of 300. Based on that model company, the yearly cost in Orlando is about $19.9 million per year; Jacksonville is about $20.1 million; and Broward County is about $21.6 million.

In New York City, the most expensive city for business operating expenses, the cost per year is about $28.5 million.

Source: The Orlando Sentinel, Jan. 19, 2011, Jim Stratton

© 2011 Florida Realtors®

Mortgage Rates Week Jan 20 2011 - Charts | Graphs | Commentary

Economist Fishkind: "Recovery is Right NOW" we are IN recovery

MANATEE COUNTY, Fla. – Jan. 21, 2011 – Economist Hank Fishkind told about 400 Manatee County leaders that Florida’s recovery is in its early stages even if it doesn’t seem like it to some people.

Calling it the “worst recession, probably, since the Great Depression, and at least the worst since 1975,” Fishkind said, “This is the recovery – right now,” Fishkind said. “The momentum is growing.”

Fishkind spoke at an “Economic Forecast Breakfast” sponsored by Whitney Bank and the Manatee Economic Development Council. As evidence of the ongoing recovery, Fishkind pointed to recent improvements, including:

• Job growth in the tourism and convention industries
• Job growth in education
• Strong retails sales at the close of 2010
• Consumer belief that it’s safe to spend money
• $500 billion boost from a 2 percent cut in payroll taxes

Fishkind also expects retirees to return to Florida’s warm shores, but “there is a discernible lag between recovery and population growth,” Fishkind said. “It takes time for people to realize there is a recovery.”

For a true turnaround, however – the kind that everyone sees and appreciates – Fishkind says the state must wait until 2012.

Source: Michael Pollick, Sarasota Herald Tribune, Jan. 20, 2011

© 2011 Florida Realtors®

Home Owners and Renters Agree || It is Better to Own than Rent

WASHINGTON – Jan. 20, 2011 – A substantial majority of both homeowners and current renters agree that owning a home is a smart decision over the long term, according to the results of a National Association of Realtors® (NAR) survey of 3,793 adults conducted online by Harris Interactive.


The American Attitudes About Homeownership survey found that 95 percent of owners and 72 percent of renters believe that, over a period of several years, it makes more sense to own a home. In addition, a large majority of homeowners are happy with the decision to own – 93 percent surveyed would buy again.

“Homeowners and renters agree that homeownership benefits individuals and families, strengthens our communities, and is integral to our nation’s economy,” says NAR President Ron Phipps. “The results of this survey illustrate just how important issues related to homeownership are to people in this country.”

The survey uncovered some differences between homeowners and renters, as well. While more than half of owners are “very” or “extremely” satisfied with the overall quality of their family life, only one-third of renters report the same levels of satisfaction. Similarly, 43 percent of homeowners are very/extremely satisfied with their community life, compared with 30 percent of renters.

A majority of renters – 63 percent – said that it was at least somewhat likely that they would purchase a home at some point in the future. Among this group, young adults (18-29 years old) have the strongest aspirations for homeownership; only 8 percent of young adults said that it was “not at all likely” that they would purchase a home at some point in the future.

In today’s market, many aspiring homeowners are faced with worries about job security and creditworthiness. Among renters who are very or extremely likely to buy a home in the future, three out of five consider confidence in job security and creditworthiness to be an obstacle.

One point of agreement between renters and homeowners was support of the mortgage interest deduction (MID). Seventy-four percent of owners and 62 percent of renters say it’s “extremely” or “very” important that the MID remain in place.

“At a time when the middle class is under increasing economic pressures, both homeowners and renters agree that the mortgage interest deduction should not be targeted for change,” said Phipps. “Given strong public support of and aspirations toward owning a home, we need to keep policies in place that support and encourage responsible, sustainable homeownership for our future.”

This survey was conducted online within the U.S. and fielded October 6-20, 2010. A total of 3,793 adults, 18 and older were surveyed, including 1,880 homeowners, 1,115 renters, and 798 young adults. All samples came from the Harris Poll online database and were weighted for age, sex, race/ethnicity, education, region and household income to be representative of the U.S. general population of adults 18 and older. Propensity score weighting was also used to adjust for respondents’ propensity to be online. Results are available online.

© 2011 Florida Realtors®

Open House - Special Showing Event - Sunday Jan. 23, 2011

5815 Bali Way |

St. Pete Beach, Florida

|| Sunday January 23, 2011 -

1PM to 4PM.

|Walk to the beach, shops and restaurants|

Florida Lifestyle Living at its Best

This marvelous beach house sits on an over-sized corner lot just steps from the white sandy beaches of St. Pete Beach with exquisite dining, shopping and much more! This all block home with new roof in 06 features a roomy 3 bedroom, split layout with a 2CG,  including your choice of two master suites... one with walk in closet. The light and bright family room features a wood burning fireplace and built-in shelving. You'll truly feel like your on vacation with the mature tropical landscaping surrounding  this wonderful beach retreat.  If you want to live where thousands of people vacation a year this home is perfect for you! (Not a short sale and can close quickly) 

Price Reduced: $275,000

Formal Living Rooms Are Out for Future Home Buyers - Bye Bye

ORLANDO, Fla. – Jan. 18, 2011 – The American home of the future will be smaller, more energy efficient and apt to have a combined great room-kitchen area, says a survey Thursday by the National Association of Home Builders.

Single-family homes, after ballooning in size for decades, began shrinking in 2008 and will continue that downward trend for years, says the survey released at the trade group’s annual International Builders Show.

Completed new homes, only 1,500 square feet in 1970, peaked at an average of 2,520 square feet in 2007 but fell to 2,377 square feet last year, the NAHB reports, citing U.S. Census Bureau data. Their average size will drop to 2,150 square feet in 2015, according to its survey of 238 builders, architects, manufacturers and designers.

Part of the downsizing may be temporary, due to recession-pinched pocketbooks, but several trends such as the “huge desire to keep energy costs down” suggest it will continue in a stronger economy, NAHB’s Rose Quint says.

“Demographics are long term on the side of smaller homes,” she says, pointing to the increasing number of young adults seeking energy efficiency and senior citizens wanting less space. She cites Census data that show people 65 and older will account for 20 percent of the U.S. population in 2050, up from 13 percent last year.

“Let’s buy what we need,” is a common new attitude, Quint says, noting consumers are viewing homes less as long-term investments and more as places to live than they did in the housing boom.

Yet Americans, after two years of belt-tightening, are starting to dream a bit bigger, says Jill Waage of Better Homes and Gardens, which Thursday released a December survey of 2,000 of its readers. They now say they want a home with a median square footage of 1,914 square feet, up slightly from 1,864 square feet last year.

“They are dreaming again but their dreams are definitely reality-based,” Waage says. In her survey, 74 percent of consumers say affordability remains a high priority as they look to remodel or buy a home. So, too, does energy efficiency, cited by 68 percent.

NAHB reports that the average size of new U.S. homes started but not completed last year actually increased a tad – 14 square feet – from 2009. Its survey notes the U.S. increase was due almost entirely to changes in the South.

“By no means is it a national phenomenon,” says Quint, an economics researcher.

In NAHB’s survey, 52 percent of participants say they plan to build smaller homes in 2011, compared with 2010, and 59 percent plan lower-priced models. Only 7 percent say they plan to build larger or higher-priced homes.

As for the near future, in 2015, 74 percent say single-family homes will be smaller and 68 percent say they’ll have more “green” features such as low-flow faucets, dual-flush toilets, better windows and whole-house Energy Star efficiency ratings.

Losing favor is the formal living room, which 82 percent say will either vanish or merge with other spaces in 2015. In contrast, survey respondents say a great room combined with a kitchen will “very likely” be part of the average new home.

© Copyright 2011 USA TODAY, a division of Gannett Co. Inc., Wendy Koch.

Washington Officials looking to Protect Housing Market

Officials looking at ways to protect housing market


WASHINGTON – Jan. 19, 2011 – Federal officials took two steps Tuesday to attempt to reduce the likelihood of a second financial crisis caused in large part by large declines in the housing market.

The first would try to tackle the problem of foreclosures. The Federal Housing Finance Agency, which oversees the massive mortgage finance companies Fannie Mae and Freddie Mac, said it would consider a new approach to how home loans are managed by banks. Critics say the current system makes it more lucrative for a bank to foreclose than to find ways to modify loans to allow struggling borrowers to stay in their homes.

The second would try to curtail reckless mortgage lending by more tightly regulating what firms can do with the loans they make. Currently, banks can pool mortgage loans together into an investment and sell that to investors around the globe, passing on all the risk associated with the loans. But a report released by the Treasury Department, as required by the Dodd-Frank law overhauling financial regulation, endorsed the law’s prescription that banks be forced to hold on to a portion of the investment, making it difficult for a bank to ignore the risks associated with lending.

Recognizing that private firms and government programs have had difficulty carrying out a large number of modifications to mortgages to avoid foreclosures, the FHFA said it would consider several approaches to how banks should manage home loans. Studies have shown that foreclosure is often more profitable for a company, known as a mortgage servicer, that collects the monthly payments on mortgages and passes them on to investors who own the mortgages.

However, it is often not the best path for borrowers, who lose their homes, or investors, who lose money.

When a loan is modified, payments to a servicer can decline. But if the borrower is in default, the servicer adds fees on the account and can collect when the house is sold, even at foreclosure.

Among other proposals, the FHFA said that it would consider a new compensation structure for servicers whereby they would receive fees for restructuring mortgages to avoid foreclosures.

“As the recent problems in managing mortgage delinquencies suggest, the current servicing compensation model was not designed for current market conditions,” said Edward J. DeMarco, the FHFA’s acting director. “The goal of this joint initiative is to explore alternative models for single-family mortgage servicing compensation that better address the needs of borrowers, servicers, originators, investors and guarantors.”

The FHFA cautioned that it would not expect any servicing model to be in place before summer 2012.

Senior Obama administration officials hailed the proposal.

“It is clear that the mortgage servicing compensation model is broken and should be fixed,” Treasury Secretary Timothy F. Geithner and Secretary of Housing and Urban Development Shaun Donovan said in a letter Tuesday. “That is why we support your decision today to review the structural flaws in the current mortgage servicing compensation model.”

The Securities and Financial Markets Association, a lobby representing many firms involved in the buying and trading of mortgages, said the agency was taking a balanced approach and considering the needs of all parties involved in mortgage servicing.

Meanwhile, the Treasury Department released a report endorsing a proposed rule requiring that banks that pool mortgages into securities and sell them to investors retain a portion of the investment and thus share in the risk. The Dodd-Frank law required that banks retain at least 5 percent of the risk a particular investment would default.

Certain assets that meet very high standards are exempted.

During the years leading up to the financial crisis, lenders and banks pooled risky home loans into securities and sold the securities to investors, which let the lenders book a profit and release the risk.

Some banks have warned that too stringent risk-retention requirements could gum up the financial markets, making banks wary of selling securities.

The report recognized this danger, saying: “If risk retention requirements are too stringent, they could constrain lending, and consequently, the formation of credit.”

The report suggested approaches to avoid this possibility and create standards by which the risk-retention requirement could be waived if, for instance, borrowers commit a large enough down payment or have a very high credit score in combination with other factors.

“This study broadly endorses the concept of risk retention, but it also recognizes the risk of applying it to every loan,” said Jaret Seiberg, an analyst with the Washington Research Group, a policy analysis firm.

Copyright © 2011 washingtonpost.com

Poll: Most see buyer’s market in housing

PRINCETON, N.J. – Jan. 18, 2011 – Most Americans say they think now’s the time to buy a new house, and some still expect home prices in their area to drop rather than rise, Gallup reported Monday.

A new poll indicated 67 percent of Americans said they thought now was a “good time” to buy a home – 5 percentage points lower than the 72 percent who expressed the same view last April.

The findings indicate that Americans are holding onto the perception that now is a buyer’s market despite the challenges in securing financing and a warning of a double-dip housing crisis, the Princeton, N.J., polling agency said.

Twenty-seven percent of Americans said they expected home prices in their communities to fall in 2011, while 21 percent said they thought values would increase. In a separate question, Gallup reported 42 percent of respondents said they were worried that their own house will lose value.

Results are based on nationwide telephone interviews conducted with 2,018 adults Jan. 7-9. The margin of error is 4 percentage points.

Copyright © 2011 United Press International

Mortgage Rates Update || January 16, 2011

Open House || Bella Vita - Treasure Island || Luxury Living On the Beach

Open House - 12PM to 3PM  || Saturday January 15, 2011
1PM - 4PM Sunday January 16, 2011 Special Showing Event

Address: 220 108th Ave. #404 Treasure Island, Florida 33706


Exquisite waterfront condo in the exclusive gated community of La Bella Vita on Treasure Island! Enjoy the Florida lifestyle in this spacious 3150 SF 4BR/3.1BA condo decorated with a modern flair. You will enjoy miles of views of the Bay from this waterfront masterpiece as well as sunsets and Gulf views from the west decks.

This immaculate condo features a fantastic layout with a formal dining room, separate living area and gorgeous custom kitchen with granite counters, island and breakfast bar...all with spectacular views! The grand master suite enjoys open water views, plenty of closet space and waterfront balcony.

This pet friendly, new community offers a gated entry, a beautiful waterfront pool and spa, and private foyers. This unit also features an oversized 1 car garage with additional storage as well as a covered parking spot and a deeded boat slip! You'll love this fabulous location with easy access to I275 and just a minute walk to the beautiful white sandy beaches of Treasure Island! 

Market Trend Reports - December 2010 Tampa Bay Region

Homes and Condos Median Price Trend Reports - Fourth Quarter 2010

Top Ten Most Searched Markets in the U.S. || TampaBay Ranks #9

ORLANDO, Fla. – Jan. 13, 2011 – When web visitors come to Realtor.com, they most often look in the sunshine states for real estate, according to a list of the most searched real estate markets at Realtor.com for 2010.

Realtor.com, operated by Move Inc. and an official website of the National Association of Realtors®, based its list on the number of visitors at Realtor.com that viewed properties in each metro area in the United States from January 2010 through December 2010.

The top 10 most searched for cities at Realtor.com for 2010 are:

1. Las Vegas

2. Los Angeles

3. Orlando

4. San Antonio

5. Miami

6. Phoenix

7. San Diego

8. Austin, Texas

9. Tampa

10. Chicago

“Online search is a critical measure of interest in real estate, especially now that more than 90 percent of buyers search for their homes online,” says Realtor.com President Errol Samuelson. “Changing conditions throughout 2010 in the sunshine states resulting from foreclosures, the tax credit, interest rates and other factors created more interest in real estate compared to other states that we hope leads to increased activity and sales in 2011.”


Source: “2010 Top Ten Most Searched Real Estate Markets Released by Realtor.com,” Move Inc. (Jan. 11, 2011)

 
 
 
 
 
 
© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688

More Companies Using Cloud Computing FAR reports

NEW YORK – Jan. 10, 2011 – Cloud computing is a growing option many small-business owners are exploring to trim costs in the new year.

Cloud computing relies on an Internet service to store files online, so that users have immediate access to them from any computer or mobile device with Internet access. (Google Docs or Dropbox are two examples.) With cloud computing, Realtors can access software, customer contracts, accounting information and other information. The services are often free or pay-per-use.

About 7 percent of small-business owners used cloud services in April 2010, but by mid-2011 that number is expected to grow to more than 10 percent, according to IDC, a technology research firm.

Some businesses also use the “cloud” to make it easier to share files back and forth, back up important information, or access software programs through the web rather than have to rely on a certain computer back at the office.

Source: “Money Hunt: Small Companies Look to Cloud for Savings in 2011,” The Wall Street Journal (Dec. 30, 2010)

© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688

Moody's Report - Rent vs Buy Ratio has Shifted in many U.S. Cities

Tables turn in 2011 on rent vs. own


WASHINGTON – Jan. 7, 2011 – Moody’s Analytics data has suggested that it makes more financial sense to rent than buy in many U.S. cities, but Moody’s chief economist Mark Zandi now says that is about to change.

“By mid 2011 and certainly by end of 2011, buying will be superior to renting in most parts of the country,” Zandi says.

Home prices are expected to fall further, making more homes affordable, whereas rent prices are expected to continue to rise this year.

The following are a few of the top cities where it makes more sense to buy than rent, according to Moody data. Experts generally recommend homeownership when the price-rent ratio is below 15 and renting when it’s above 20.

• Cleveland: 11.43

• Pittsburgh, Pa.: 11.71

• Detroit: 12.32

• Phoenix: 12.35

• Atlanta: 12.82

• Tampa, Fla.: 13.08   Recommended Buy instead of Renting

• Orlando, Fla.: 13.1

• Cincinnati: 13.74

• Las Vegas: 13.89

Source: “Rent vs. Own Ratio to Flip in 2011?“ Fortune (Jan. 4, 2011)

© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688

‘Secret’ way to lower mortgage payments

NEW YORK – Jan. 6, 2011 – Homeowners can trim their monthly mortgage payments by “recasting” or “re-amortizing” their loan without having to refinance and face hefty closing cost fees, experts say.

When recasting, the borrower pays off a lump sum of the loan’s principal and then resets monthly payments at the loan’s original interest rate and terms.

Here’s one scenario: $230,449 is left on a 30-year fixed rate loan for a $300,000 mortgage taken out at 7.93 percent in 1995. The borrower pays $20,000 toward the principal and asks the lender to reamortize their payments over the remaining 15 years of the loan. The monthly payment then drops by $52, from $2,187 to $2,135 per month. ($100,000 toward the lump sum would save $730 a month.)

Since borrowers are not asking for a new loan, they will not have to pay closing costs or submit to another credit check. (Note: “Recasting” is often used in the mortgage industry to refer to interest rate resets on adjustable-rate mortgages. In this case, the interest rate and loan term remain the same. )

“People don’t really know about it, but it’s become more common recently,” Alan Rosenbaum, founder and chief executive of the Guardhill Financial Corporation in New York, said about recasting.

Borrowers who just make extra payments toward the loan’s principal but do not ask the bank to recast the loan will keep monthly payments the same and just shorten the overall time it takes to pay off the loan. Recasting, on the other hand, reduces the principal but then, in turn, lowers monthly payments and interest over the life of the loan.

Some recent buyers may find recasting a good option, particularly when it makes little financial sense to refinance so soon after purchasing a home but are expecting a large sum of money. For example, buyers who expect to receive a tax refund or other substantial money after closing on their property, such as proceeds from the sale of another property or stocks, may want to look into recasting to lower monthly payments, says Edward Ades, the owner of Universal Mortgage in Brooklyn, N.Y.

Source: “A Little-Known Strategy for Cutting Mortgage Payments,” New York Times (Dec. 30, 2010)

© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688

What is Your "Apps-titude"?

Wall Street Journal “2010 was the year of the App.” There are hundreds of thousands of them from maps, GPS tracking, barcode scanners, photo manipulators, games, email and message platforms, free music, free books, free movies and more, ad infinitum. Oh, and I forgot to mention “Voice recognition” for dialing “call home” and voice searches on maps and search engines.

Shoppers can use a Smart phone to find better deals at competing retailers without getting in the car in order to drive to other stores.

Facebook, Twitter, Linkedin, Foursquare, Digg and StumbleUpon all have mobile applications. You can use the Police and Fire emergency scanner radio app. Get news from the New York Times and USA Today mobile apps, view weather radar and live webcams, or perform video conference calls from the mobile device. TV Guide, Kindle, Dictionary.com plus Where and Yelp to help find nearby restaurants, gas stations, or shops, on and on. I can even operate my home DVR from my handheld device to record shows and adjust recording schedules.

As Apple and Google have opened up their design architecture for free to all “app” developers, the number of applications is growing exponentially. Soon, very soon, we will be able to use these mobile devices as credit cards at the checkout or ATM machine.

I am very excited about the potential of including these new advances in my marketing plans for buyers and sellers giving them the latest advantages in real estate Smartphone technology.

Florida Condominium Sales Rise 11 percent in November

ORLANDO, Fla. – Jan. 3, 2011 – Sales of existing condominiums in Florida rose 11 percent in November, with a total of 5,411 condos sold statewide compared to 4,860 units sold in November 2009, according to the latest housing data released by Florida Realtors®.


The statewide existing condo median sales price was $88,200; in November 2009, it was $104,500 for a 16 percent decrease year to year. However, November’s statewide existing condo median price was, month-to-month, 7 percent higher than the statewide existing condo median of $82,400 in October.

Meanwhile, in the year-to-year comparison for existing home sales, a total of 11,900 single-family existing homes sold statewide in November compared to 13,961 homes sold in November 2009 for a decrease of 15 percent.

Florida’s median existing-home sales price in November was $132,700; a year earlier, it was $139,300 for a decrease of 5 percent. The median is the midpoint; half the homes sold for more, half for less.

In a separate report, the U.S. Commerce Dept. announced that sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November. The gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in October.

The November improvement in new-home sales was driven by gains in two regions. The South, which is the nation’s largest housing market, posted a 5.8 percent gain, while the West showed a 37.3 percent rebound from the previous month. Meanwhile, declines of 26.7 percent and 13.2 percent were registered in the Northeast and Midwest, respectively.

The inventory of new homes for sale fell to 197,000 units in November, marking the first time in 42 years that this measure has fallen below the 200,000 level. This amounts to an 8.2-month supply at the current sales pace.

© 2011 Florida Realtors®

What do Buggy Whips and Desk Top computers have in Common?

Forbes Magazine calls it “The Death of Hardware”.


The desk top computer is going the way of buggy whips.





An explosion of new technology is under way. The Smart Phone is on the move. “Smartphone sales in the U.S. alone will jump from $1.61 Billion in 2009 to $6.74 Billion in 2011.”

The Wall Street Journal recently published an article: The Rise of Apps, iPad, and Android and starts by saying: “In 2010, the computer truly went mobile.” And further states: “The momentum in technology is now with devices that can easily be carried around and applications that sustain them.” “Cheap Smartphones, Android’s next move, plus cheaper data plans will dramatically expand smartphone penetration.”

Cellular phone carriers have been launching newer and even faster connection speeds to accommodate this explosion in handheld use. I recently subscribed to Sprint 4G with unlimited data plan for my Android HTC EVO with the operating system supplied by Google. I seldom have any need to log on to my desktop computer in my home office. I check my latest email and read the morning news from the New York Times sitting by my pool with a cup of coffee beside me.

These Smartphones are really nothing more than a sophisticated handheld computers linking the user to the entire world of Internet available information stored in gargantuan data centers via the cellular carriers servers.

The U.S. is now home to more than 7000 data centers with massive capacity. The number of servers in these data centers is estimated at 16 million, now linked together by millions of miles of fiber optic cable. The Economist quotes: “Data Centers have become as vital to functioning of society as power stations.” Now making it possible for millions of handheld devices to readily and easily access websites throughout the world, from almost anywhere. No more need to be craning your neck to see the desk top monitor.

Gartner Inc. research goes even further: “By 2013 mobile phones will be the most common device used to access the Web.” And, Florida Technology Journal predicts: “Smartphone applications will enable the health care industry to successfully reach 500 million of the total of 1.4 Billion Smartphone users by 2015.

As this wave of technology expands, everyone is playing catch-up, companies are now designing websites to fit on the mobile sized screen instead of designing for desktop display.

Changing the way business is conducted in Real Estate: It is well known that over 85% of home buyers start their search for new homes on the world wide web. Mobile Smartphones are playing a key role in promoting a mobile revolution to the real estate business. Already, with only a few “Apps” available, consumers are able to access the Internet to view properties, virtual tours and research neighborhood statistics including shopping, schools and crime data. With the handheld Smartphone you are able to shop for properties by neighborhood locations that you prefer and compare similar properties in just the touch of a finger to the handheld screen display.

Currently, a few dozen real estate applications are easily downloaded to Smartphones for free from the “Apps Market”. A few of the most popular Real estate apps are: Realtor.com, Zillow.com, Trulia.com, Smartagent.com, Homes.com, Coldwellbanker.com, Floridamoves.com, RealEstateDroid.com, Better Homes and Gardens Real Estate and The New York Times Great Homes and Destinations.

Now with the advent of QR codes (small geometric boxes encoded with URL data) the handheld carrying consumer can scan to view video home tours and access detailed data for any specific home listing. We will be seeing, very soon, QR codes in newspapers, property flyers, post cards, business cards, and on the For sale sign at the property. I now use QR codes on all of my property marketing materials. It is just another advantage I like to give my customers.