Boca Raton Area Housing Market Feel Different Lately? Michael Friedman Realtor eXp Realty Discusses

 


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 are less qualified buyers in the marketplace. 

However, inventory levels remain at low levels and put home sellers in a good position. 

Those who are getting ready to put their home on the market for sale should make a decision quickly before inventory levels begin to increase. 

Call me and let’s go over your situation and see if it makes sense to work together.  Schedule time HERE

Thank you for your time today. 


Michael Friedman

Broker-Associate, Realtor

eXp Realty

Home Search

Customer Reviews




Comments

Post a Comment

Popular posts from this blog

Real Estate Values In Florida Increased Year-Over-Year In 2022 More Than Any Other US State; Palm Beach County Florida and Boca Raton Area Saw Home Values Increase As Well -- Mike In Boca

Image
 January 31, 2023 Florida Real Estate Values Grew More Than Any Other US State In 2022 How Can I Help You? Florida was the top US state for price increases, according to real estate Website Zillow.com.  The analysis by Zillow showed the average Florida home value increased 17.27% last year (2022) with an average value of about $405,000.  A recent study was performed by Florida Atlantic University (FAU) in conjunction with Florida International University (FIU) and this was a quote from the study, ‘“it is hard to say where prices will go from here in Florida,” said Eli Beracha, Ph.D., of FIU’s Hollo School of Real Estate. “But it seems most likely that Florida housing markets will fare better than most other markets across the country due to the persistent shortage of homes for sale and the pace at which people are relocating to the state.”’ In our area, the local Realtors put out a snapshot report (above) that shows the average year-over-year increase for a single family home rose by 2
Read more

Mortgage preapproval versus mortgage prequalification - What it Means For Home Sellers and Home Buyers - Mike In Boca - Florida

Image
  December 20, 2022 Mortgage Pre-Approval or Pre-Qualification? Always Here For You Video CLICK I recently received an offer to present to one of my home seller customers with a pre-qualification letter attached from the buyer.  Generally, there are two types of mortgage letters : pre-approval letter and pre-qualification letter. It is important whether you are selling your home or purchasing a home to know the difference.  Having the right real estate professional who can properly guide you through the sale of one of your biggest assets, to ensure you are getting the most out of your sale is of the utmost importance.  In an article on Zillow.com called, “Pre-Qualification Versus Pre-Approved : What’s the Difference?.” the two types are described as follows : “ A mortgage pre-qualification is usually a much shorter process that requires you to honestly report your own financial information, while a mortgage pre-approval typically requires you to submit more documentation like W-2s to v
Read more

Home Prices in Mission Bay Boca Raton Community Increase Almost 28% on YOY Basis in January 2023 Michael Friedman Broker-Associate eXp Realty

Image
I am a full-time real estate professional who focuses on the Mission Bay community in West Boca Raton, Florida.   My primary areas of focus is on Boca Raton, Delray Beach and Boynton Beach; however, I have worked with customers to the north up to Port St. Lucie, Florida and further south into Broward County and Dade County as well. I estimate the median home value in Mission Bay increased almost 30% on a trailing twelve month basis in January 2023 over January 2022.   Mission Bay homes were selling quickly at an estimated median time of 20 days at the beginning of the year 2023..  The median home sold in the Boca Raton community of Mission Bay was $645,000 by my estimate on a trailing twelve month basis in January 2023.   Home sales in Mission Bay Boca Raton for the month of January 2023 as per the MLS was as follows: 10482 Mateo  Court RX-10850192 Reflections  10393 Lake Vista Circle RX-10851259 Reflections  10860 La Salinas Circle FX-10350492  La Costa  10438 Buena Ventura Drive RX-1
Read more