Bonnie's Blog: Hollywood News and Market Info.

Howdy South Florida:  How about the Typhoon we had yesterday.... yikes.. bus benches on Stirling Road were under water in less than 30 minutes.  It was crazy!!!   My sellers on Sarazen Drive had to postpone their move one day because the movers were at a standstill for 3 hours and couldn't even take one box out of the house with all the water!!

We had A LOT of activity in our area this week:

NEW LISTINGS: 38 homes

WENT UNDER CONTRACT: 8 homes  

CLOSED SALES: 10 homes (mine included...yippie!!)

HOMES THAT CANCELED THEIR LISTING: 13 homes

HOMES THAT EXPIRED AND DID NOT SELL: 20 homes

SELLERS THAT REDUCED THEIR PRICES:  40 homes

What is interesting and important to note is the number that went under contract - 8- versus the number of new inventory - 38.   The market is flooding with listings and the ones that are priced right or continue to reduce to accomodate the buyers are the ones that sell.  

Consider pricing right when you first list your home so you can make the market, not chase it down with price reductions after the intital excitement of your new listing wears off, which is only a few short weeks.

Buyers..... there are many, many sellers that MUST move for different reasons.   Get off the fence and make offers...

As always, please email me, ask questions, post a comment.

Serving Emerald Hills, Hollywood Hills, East Hollywood and Aventura!!

www.HomesInHollywoodFlorida.com

Until next time,

Bonnie

Home Sales Up, but Prices Plunge

By MARTIN CRUTSINGER,

AP

Posted: 2008-03-24 14:19:04

Filed Under: Mortgages

WASHINGTON (March 24) - After falling for six straight months, sales of existing homes posted an unexpected increase in February which may have reflected more aggressive price cutting by sellers in some parts of the country, a real estate trade group reported.

The National Association of Realtors said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. It was the biggest increase in a year and caught economists by surprise. They had been expecting a small decline.

The trade group reported that the median existing sales price in February fell to $195,900. That was the largest year-over-year drop on records that go back to 1999.

Lawrence Yun, chief economist for the Realtors, said that prices in some formerly hot markets in California and Florida were seeing significant price declines now as sellers try to attract buyers.

Analysts cautioned against reading too much into the one-month rise in sales. Many economists are predicting that the steep slump in housing will not bottom-out until later this year after prices fall further and allow huge levels of unsold inventories to be reduced.

"We're not expecting a notable gain in existing-home sales until the second half of this year, but the (February) improvement is another sign that the market is stabilizing," Yun said.

By region of the country, sales surged by 11.3 percent in the Northeast and were up 2.5 percent in the Midwest and 2.1 percent in the South. The only region of the country to see a decline in the sales was the West, where they dropped by 1.1 percent.

Sales of existing homes fell by 12.7 percent in 2007, the biggest decline in 25 years. Over the past two years, housing has been in a steep downturn made worse by a severe credit crunch as financial institutions tightened their lending standards in reaction to their multibillion-dollar losses on mortgages that have gone into default.

The steep slump in housing has raised concerns about a possible recession. Democrats are pushing the Bush administration to do more to stem a tidal wave of mortgage foreclosures to keep more unsold homes from being dumped on an already glutted market.

Sen. Hillary Clinton, campaigning for the Democratic presidential nomination, on Monday called on President Bush to appoint an emergency working group on foreclosures to recommend new ways to confront the housing crisis.

"Over the past week, we've seen unprecedented action to maintain confidence in our credit markets and head off a crisis for Wall Street banks," Clinton said. "It's now time for equally aggressive action to help families avoid foreclosure and keep communities across this country from spiraling into recession."

Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.

2008-03-24 10:08:11

For Information on a specific Hollywood home or any South Florida Real Estate information, please don't hesitate to email me at: Bonnie@BonnieKaufman.com

I look forward to hearing from you!!

www.HomesInHollywoodFlorida.com

www.HousesInEmeraldHills.com

Check out CANYON RANCH LIVING on Miami Beach on my website!!  Earn $300,000 in instant equity by buying our unit at 2004 pricing!!!

THE COMMUNITY IS INVITED TO A TOWN BRIEFING

TOPIC: ARDEN PARK

We want to hear from you

& keep you informed!

DATE: TUESDAY, APRIL 1, 2008

TIME: 7:30-9:00 P.M.

PLACE: STIRLING ROAD LIBRARY

3151 Stirling Rd

Fort Lauderdale, FL 33312

IN ATTENDANCE: H.A.R.D. COMMITTEE

(HOLLYWOOD AGAINST WRECKLESS DEVELOPMENT)

Along with:

HOLLYWOOD CITY COMMISSIONER, DICK BLATTNER

For further information, contact:

Arapahoe Farms: Carol Lasek: 954 494 5567, Marc Ben Ezra: 305-770-4100x289

Hollywood Oaks: Lucretia Fasciano: 954-843-0010, Dr. Peter Livingston: 954-929-4774

Oakridge: Todd Jaekel: 954-873-8218

Emerald Hills: Lenora Chuchla: 954-966-2427, Raisy Gittler: 954-646-7045

The Woods of Emerald Hills: Drew Pickard: 954-612-1251

The Lakes of Emerald Hills: Ken Strauss: 954-712-7099

Young Israel of Hollywood: Dr. Adam Splaver: 954-992-2158, Marc Eisenman: 201-344-3691

Emerald Hills sellers, this is for you!!   The Multiple Listing service now has a program called TRENDGRAPHIX.... and as you'll see below, it indicates how many homes are for sale compared to the same time last year, how many sold, pending, what the % of dollars received compared to asking price, how many months of inventory there are on the market now in your area etc.  

The results are kind of staggering!!!!!!!!!  Check it out!!!!!!

Facts and TrendsTM
Published Mar. 2008
Location : EMERALD HILLS , EMERALD HILLS 68-26 B , HOLLYWOOD HILLS NORTH
Number of Homes For Sale vs. Sold
Single Family Homes - All Properties		Prepared for you by: Bonnie Kaufman

This representation is based in whole or in part on data supplied by Southeast Florida Association of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

Facts and TrendsTM
Published Mar. 2008
Location : EMERALD HILLS , EMERALD HILLS 68-26 B , HOLLYWOOD HILLS NORTH
Days on Market & Sold/List Price %
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes - All Properties		Prepared for you by: Bonnie Kaufman

This representation is based in whole or in part on data supplied by Southeast Florida Association of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

46 monhts of inventory!!!!!!!  Almost 4 years.   If you aren't ready to price your home right, you might have to stay put.   There is a lot of competition out there.   But remember there are a lot of buyers ready willing and able to buy too.  You just have to be the right home for them.

Please post a comment on these stats, or email me directly at Bonnie@BonnieKaufman.com.

Or call me for all of Your Emerald Hills Real Estate needs at 954-985-8336

Bonnie

Anyone ever driving down Stirling Rd and wondering about the new developement, FOREST VIEW ESTATES???   Here is the scoop as I know it....

There are currently 2 homes for sale as follows:

$799,000  4 bedrooms, 4 baths with 3,162 sq feet

$877,000 4 bedrooms, 3 baths with 2,887 sq feet

All homes are 2 story with no pools, marble flooring, hurricane impact windows, granite counters in kitchens, upgraded decorator features.  This is a gated community and so far (that will surely change) the association fee is as low as $95 to $114 based on sq footage.

These are directly across the street from ARDEN PARK also on Stirling and SW 35th Avenue which is currently at a standstill.... the developer wasn't clear with the city if they were changing zoning from residential to commercial, it was up for review, then we got some new commissioners and a new Mayor voted in and there hasn't been much word about it yet.....

Also down SW 35th Avenue is the community of Hollywood Oaks, the prestigious manned gated development which currently has 12 homes for sale ranging in price from $819,000 to $1,980,000.   Hollywood Oaks has 3 clay tennis courts, 2 basketball courts, 3 lakes, a clubhouse complete with full fitness center and an onsite property manager.  For info or to tour any of these listed homes, please call me!!!  I'm here to serve all of your SOUTH FLORIDA REAL ESTATE needs.

Looking forward to hearing from you ..... email me at Bonnie@BonnieKaufman.com and please check out my listed homes at:

www.HomesInHollywoodFlorida.com

www.HousesInEmeraldHills.com

Hey Everyone:

The great news is that we closed on 2  listings last week, and sold our listed home in THE WOODS of EMERALD HILLS due to close on the 28th.    So in the interest of replenishing my inventory I will have 3 new listings to post next week.   Two in Emerald Hills on one on Taft Street.  Please check back.....

WE ARE OPENING OUR LISTING AT: 

5800 SW 36th Terrace   Sunday...1-4pm.

Fabulous 3bedroom, 2 bath home completely remodeled at the end of a private lush and tropical block.   This home is situated on a HUGE 15,000 sq ft lot and offers a great pool and 2 car garage in addition to the many features inside.   Including Stainless Steel applainces, granite counters, crown moulding, marble bathrooms, jacuzzi tubs, new roof, new flooring, and much more.

OPEN HOUSE 1-4pm This Sunday MARCH 16th!!

We look forward to meeting you so please stop by!!!!

On another note, there have been some really really nice opportunities in home buying that have been sold lately.    It seems that buyers are out in full force and are cherry picking the best and leaving the rest.    We had a buyer call today to find out if her favorite home was still available and it was gone...  

Get them while they are hot.  Only 2 in every 20 homes you tour will be at the right price AND gorgeous... the same 2 all the other buyers are now looking at as well.  If you see something you love, DON'T WAIT!!!

As always, check out my listings and virtual tours at:

www.HomesInHollywoodFlorida.com

www.HousesInEmeraldHills.com

www.CanyonRanchFlorida.com

Serving all of your South Florida Real Estate needs.

Ever dream of living only steps from the beach?  Or minutes from your own world renowned spa that you can attend daily?  with a five star first class restaurant serving only healthy organic meals from national award winning chefs?

That is what CANYON RANCH LIVING is offering.   A beachfront home and SPA living.   This beautiful oasis on Miami Beach is almost complete with 3 towers including the middle tower which is a condo/hotel.  

If you or anyone you  know is interested in hearing more, I am offering the LOWEST PRICED unit in the prestigious NORTH TOWER of Canyon Ranch.   Almost $200,000 LESS than the developer!!  and a bonus of $20,000 toward your closing costs if purchased by May 1, 2008!

Do you have any friends or relatives from out of the country looking for a great investment?  This is the one that can't be beat!!   This is where Goldie Hawn and David Caruso will be calling home soon, just to name a few celebs who have purchased there.

 For more information on my particular unit, call me, or visit MY LISTINGS at:

www.BonnieKaufman.com

www.HomesinHollywoodFlorida.com

www.HousesInEmeraldHills.com

I look forward to hearing from you.... and PLEASE POST A COMMENT!!