MikeInBoca Blog

  December 27, 2022 Palm Beach County FL Housing November 2022 What Could I Do For You? The Palm Beach Florida housing market was showing signs of slowing down during November 2022 after a robust first half of the year.  Total homes sold were down about 38% for single family homes and around 44% for townhomes / condos during November 2022 when compared with the previous year.  The months of supply increased to 3.3 and 2.8 for single family homes and townhomes/condos, respectively, in November 2022; this showed year-over-year increase of 175% and 133%, respectively.  The time it took for homes to sell just about doubled to about 30 days during November 2022 over the previous year.  Nonetheless, home prices continued to show year-over-year growth in November 2022 with single family home and townhome/condo prices increasing almost 11%.  The median single family home sold for $565,000 and the median townhome/condo sold for $291,000 in November 2022. This means home sellers in our local Flo

  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

  December 13, 2022 Youtube video : CLICK Realtor.com 2023 FL Housing Forecast For Boca Raton Delray Beach Reach Out To Me Anytime Realtor.com recently published their forecast and predictions for the US housing market in 2023. In general, Realtor.com predicts moderating home price growth in 2023 and seems to indicate a neutral market by the end of the year 2023; meaning not favoring home sellers or home buyers.  The Realtor.com expectation for 2023 is a continuation of more homes to be on the market and household budgets being squeezed by higher mortgage rates. Realtor.com forecasts the average mortgage rate to be 7.4%% during 2023 with the rate drifting down to 7.1% by year-end 2023.  Existing home median price appreciation is predicted to be 5.4% on a year-over-year basis in 2023, according to the Realtor.com projection.  Realtor.com predicts the Miami-Fort Lauderdale- West Palm Beach Florida market will show home prices appreciate by an average of 3.4% in 2023 over 2022 and a 2.0%

  December 10, 2022 Mission Bay Community Boca Raton Florida - September 2022 Thinking of Selling Your Mission Bay Home?  If you are considering selling your home in Mission Bay in West Boca Raton, Florida, reach out to me.  I continuously follow our local community in order to be your "go-to" Realtor for the Mission Bay community. For the trailing twelve month period ending in September 2022, I estimate the average home sale price was $619,075 at about $285 per living square foot.  This estimate shows a year-over-year increase of about 32% over the estimated average home price of the previous twelve-month period ending in September 2021.   There were only two sales registered as closed on the Multiple Listing Service (MLS) during September 2022.  There was one home sale in the Laguna subdivision of Mission Bay and one in La Costa section of Mission Bay. 10769 Santa Laguna Drive 10931 La Salinas Circle The number of homes on the market as active during September 2022 was up t

  December 6, 2022 Florida Storm Mitigation Grants What Can I Do For You? Florida homeowners, how would you like a free wind-mitigation report and up to $10,000 in storm mitigation grants? Our Florida Legislature recently funded the My Safe Florida Home (MSFH) program through the Florida Department of Financial Services (DFS).  You can now apply, and if you qualify and your application is accepted, Florida homeowners can get the free wind-mitigation report and storm mitigation grant of up to $10,000. The program offers a way to have a free home inspection in order to identify areas of the home that could mitigate future wind damage. For more information CLICK HERE To start the My Safe Florida Home application process CLICK HERE As a full-time real estate professional I help assist people sell, buy and protect one of their most important assets, their home. Let’s talk; schedule time on my calendar CLICK Michael Friedman Broker-Associate, Realtor eXp Reatly Contact Me INFO LINKS Home