MikeInBoca Blog

 August 30, 2022 Canceled Home Sales Reach Out Anytime Yahoo!Money recently published an article titled, “Housing Expert : ‘This Might Be The Worst Time You Could Buy’”     The expert was referencing the increased mortgage rates, which has impacted home affordability. The article referenced 63,000 home-purchase agreements being canceled in July 2022 or about 16% of the homes that went under contract at that time. The increase in prices and the rise in mortgage rates have made home buyers skittish and caused some of the backing out of deals.  I counsel my home selling customers that cash offers are not directly affected by mortgage rates.  Home sellers may want to consider giving in a bit in the negotiations when dealing with all cash buyers as the housing market sentiment begins to shift.  If you or someone you know can use some help, you can contact me anytime for anything real estate.  To research and search for homes CLICK HERE Check out my Youtube...

  August 29, 2022 The median single family home price sold for $600,000 in July 2022.  Inventory levels are starting to show an upward trend during July 2022.  This is positive for home buyers.  However, the amount of inventory as of July 2022 was still low and generally favored home sellers. I help my customers with all different types of real estate representation.  I work with investors purchasing homes.  I work with landlords on rentals.  Reach out to me to discuss your situation and let's determine if I can be of assistance. Michael Friedman Broker-Associate, Realtor eXp Realty find out more at my Website MikeInBoca.com

  Market Changing Lately? Thank You For Your Time Today August 24, 2022 Like any other market, the real estate market does not stand still.  The latest sentiment from most people I speak with is the real estate market mood is changing.  As of right now, the market still seems to favor the home seller.  However, I am emphasizing the basics with my home seller customers.  Home sellers need to realize the slight shift in the market and price their homes near their value and not on what they think they can get.  The home buyers will have more choices and we do not want to start aggressively cutting the asking price in order to catch up to market.  Also, the days of many offers on a home for sale are passing by unless you have a unique situation.  Home sellers also need to realize they may need to negotiate more now than they did a few months ago.  Increased mortgage rates have reduced the number of home buyers who can purchase a home.  There...

 August 20, 2022 The following analysis is as of July 2022 for the Mission Bay community in Boca Raton.   The sales price per living square foot during the preceding 12-months averaged about $280.  On a year-over-year basis, home prices were up slightly above 30% on average when compared with the previous 12 month average. During the past six months ending July 2022, the following homes sold as per the Multiple Listing Service:    10251 Via Hibiscus 20931 Via Oleander D 20970 Via Alamanda 2 20971 Via Oleander D 10354 Mateo Court 10426 Plaza Centro 10534 Lake Vista Circle 10544 Lake Vista Circle 10520 Lake Vista Circle 10490 Lake Vista Circle 20507 Via Marisa 11063 Baybreeze Way 10472 Lake Vista Circle 11209 Harbour Springs Circle 10481 Mateo Court 20797 Cabrillo Way 11051 Baybreeze Way 20281 Monteverdi Circle 11033 Harbour Springs Circle 10605 Mendocino Lane 10615 Wheelhouse Circle 10386 Buena Ventura Drive 10610 Bexley Boulevard 10736 Avenida Santa Ana 103...

  Final Walk-Through Home Sale Expectations August 17, 2022 As a full-time real estate professional in the Boca Raton Florida area for more than ten years, I have experienced many different types of walk-throughs.  This is typically the final step before signing the papers, delivering the funds and getting the keys to the new home.  The walk-through is also a very stressful time for the home seller and the home buyer.  The home should be clear of trash and in presentable condition for the new home buyers.  The home buyers will be looking at the home less any furniture and other items that were most likely present during the home inspection.  Typically, the home inspector does not move furniture, carpeting, large paintings, etc. during the home inspection.  Once the artwork, mirrors, throw rugs, furniture, etc. is removed, there will most likely be imperfections that are noticed during this walk-through process.  Buyers should be prepared for less...

  Congratulations To Buyer - Getting The Keys For Home Closing Getting the keys for my customer to close out the home sale I would like to thank all of my customers who have made it all possible from Michael Friedman, Broker-Associate, Realtor, CDPE with eXp Realty See what my customers are saying at my Website https://www.mikeinboca.com/   Mike Friedman Realtor 561-247-3550 - Testimonials Mike In Boca Michael Friedman Broker-Associate, Realtor eXp Realty

More Foreclosures? What can I do for you?  I have talked with investors and home buyers who are looking for a real estate bargain have been reaching out to inquire about the foreclosure market.  Many homebuyers are looking for a housing crash much like 2008.  However, many real estate experts do not expect this type of real estate crash because of tighter lending standards when compared with the “Great Recession.” ATTOM, a property data firm, reported that there were fewer than 31,000 houses nationwide with foreclosure filings in May 2022.  On a sequential basis, foreclosure filings are up 1% from April 2022 and up 185% over May 2021.  I also help homeowners who fall into distressed property situations and are heading towards a foreclosure.  Whether you are a home seller who is struggling with their mortgage or an investor looking to round out your portfolio, call me to craft a strategy to meet your unique situation.   I look forward to hearing f...

  What do you think of this new pool? 😎 How can I help you? You can get more information from MikeInBoca.com Give me a call Michael Friedman Broker-Associate, Realtor, CDPE eXp Realty

  Is My Home Now Worth Less? 8/2/2022 There is confusion about the current state of the real estate market, in my opinion.  In my discussions with both home sellers and home buyers there seems to be a perception that home prices are falling.  Perhaps people are confusing asking price reductions with lost value.  My perception is local home values continue to increase, however, it may be the case the home values might not be appreciating as quickly as in the recent past.  Nonetheless, you can periodically get an idea as to what your home is worth for free via my Website CLICK HERE As the local real estate market continues to change, I continue to keep my customers up to date on the latest.  You can call me on my cell phone anytime and you can get more information from my Websites eXp Realty and MikeInBoca.com Thank you for your time today. Michael Friedman eXp Realty Broker-Associate, Realtor, CDPE https://www.mikeinboca.com/