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February 2010

Found 5 blog entries for February 2010.

As a continuation of my previous blog post on Lawrence Yun's speach at the National Real Estate Cyber Convention, here are some further highlights and what I think are interesting tidbits of information about the state of the current housing market and predictions for the year ahead:

  • The decline in housing prices is destroying middle class wealth.
  • Average home price to income is now below historical levels.
  • More importantly, the average mortgage payment to income (by middle income person buying a medium priced home) is below historical rate. This implies an overcorrection in the market. Therefore a stimulus is actually justified in the form of the tax credit in order to prop up the overcorrection.
  • If consumers feel more comfortable that their home
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I am participating this week in the National Real Estate Cyber Convention and just attended a keynote presentation by Lawrence Yun, the chief economist of the 1.2 Million member National Association of Realtors and widely considered one of the top ten economic forecasters in the country. Here are some of the highlights of Mr. Yun's very interesting talk about what to anticipate in 2010. This is part one of my recap of his lecture. The second part will be covered in a separate blog post:

  • Predictions are for 15% higher unit sales in 2010 which will cause inventory levels to stabilize.
  • 2 Million first time buyers are expected to take the 1st time buyer credit to date
  • An additional 2.4 Million (both 1st time and move up buyers) will take the credit by
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JUST LISTED IN PALMA VISTA!

 

WOW! Beautiful Castellana model in the Estates of Palma Vista in Boca Raton, located on a cul-de-sac lot with gorgeous lake views. Six bedrooms, five baths, 3 car garage, heated free form pool, paver patio, large yard with no rear neighbors and a view!

The first floor has hardwood flooring throughout, a large living room and formal dining room. Cook up a storm in your gourmet kosher kitchen with two dishwashers, two sinks, double ovens, chef's island, wood cabinets, granite counters, walk-in pantry and so much more!The kitchen table has a built-in banquette in a bay window with plantation shutters. The kitchen opens to the family room with an impressive mahogany built-in wall unit. There is also a bedroom (currently used

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According to a survey released by Freddie Mac, interest rates on 30 year fixed rate mortgages averaged 4.97% for the week ending February 11, marking the third week this year that rates have fallen below 5%. A year ago rates were slightly higher, at 5.16%

15 year fixed rate mortgages averaged 4.34% this week as compared to 4.81% a year ago.

These low rates combined with increased affordability (i.e. LOW PRICES) hopefully will encourage continued activity in our local markets. Here in the Boca Raton/ Delray Beach/ Boynton Beach area we are closing significantly more deals than this time last year. This is really a great time to buy real estate in the Boca Raton area.

You can search the entire MLS here.

 

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Thornhill Estates Home just sold by Gloria Singer! front_512_01

Beautiful Home on fabulous Cul-de Sac Location in popular Montoya Circle community of Thornhill Estates. The house is 4 bedrooms, 3 1/2 baths, over 3700 square feet under A/C.
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Gorgeous kosher chef's kitchen with abundant cabinets, professional grade appliances and more! pool_512  

 

Step into your resort-like pool and spa and enjoy the best that Boca has to offer!

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The view cannot be beat! This house is built on a .39 acre lot overlooking the golf course of The Club at Boca Pointe! Live the Dream!
If you are interested in Boca Raton Real Estate and the popular communities of Montoya Circle 
this will give you some idea of the amazing housing opportunities available. This house was listed at $1,250,000

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