Florida's Home and Condo Sales Rise in March 2010

I am thrilled to post this optimistic news which came out with the latest housing data for the state of Florida.

Florida’s existing home, condo sales rise in March 2010. Existing home sales rise on buyer tax credit, favorable market conditions.

ORLANDO, Fla. – April 22, 2010 – Florida’s existing home sales rose in March, which means that sales activity has increased in the year-to-year comparison for 19 months, according to the latest housing data released by Florida Realtors®.

Existing home sales increased 24 percent last month with a total of 16,294 homes sold statewide compared to 13,090 homes sold in March 2009, according to Florida Realtors. Statewide existing home sales last month increased 37 percent over statewide sales activity in February. Also noteworthy: While March’s statewide existing-home median price of $137,000 was down from the same time a year ago, it was 4.3 percent higher than February’s statewide existing-home median price.

Florida Realtors also reported a 63 percent increase in statewide sales of existing condos in March compared to the previous year’s sales figure; statewide existing condo sales last month rose 40.6 percent over the total units sold in February. Though March’s statewide existing-condo median price of $96,900 was down compared to the year-ago figure, it was 5.1 percent higher than February’s statewide existing-condo median price.

Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in March while all MSAs had higher condo sales. A majority of the state’s MSAs have reported increased sales for 21 consecutive months.

Florida’s median sales price for existing homes last month was $137,000; a year ago, it was $141,300 for a 3 percent decrease. Industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in February 2010 was $164,300, down 2.1 percent from a year earlier, according to NAR. In California, the statewide median resales price was $279,840 in February; in Massachusetts, it was $271,950; in Maryland, it was $237,446; and in New York, it was $225,000.

NAR’s latest outlook anticipates a rise in home sales in late spring, which should help to absorb inventory. Increased pending sales is a positive sign for home prices, which are continuing to stabilize, according to NAR Chief Economist Lawrence Yun.

In Florida’s year-to-year comparison for condos, 7,148 units sold statewide last month compared to 4,387 units in March 2009 for an increase of 63 percent. The statewide existing condo median sales price last month was $96,900; in March 2009 it was $108,500 for an 11 percent decrease. The national median existing condo price was $170,200 in February, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 4.97 percent last month, down from the average rate of 5 percent in March 2009, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s larger markets, the Sarasota-Bradenton MSA reported a total of 1,055 homes sold in March compared to 765 homes a year earlier for a 38 percent increase. The market’s existing home median sales price last month was $163,800; a year earlier it was $150,000 for an increase of 9 percent. A total of 382 condos sold in the MSA in March compared to 226 units sold the same month a year earlier for an increase of 69 percent. The existing condo median price last month was $146,400; a year earlier, it was $129,000 for a gain of 13 percent.

So, let's keep the momentum going! We still have AWESOME mortgage rates, heavy inventory and some great deals out there! Let me know when you are ready to buy!

Have an awesome, safe, patriotic Memorial Day!

Karen Branham, CRS*
"Exceptional Service"
Coldwell Banker United, Realtors
Call me at 850-832-8626
Website and Blog: http://www.KarenBranham.com

CRS - Certified Residential Specialist - a designation held by only 4% of Realtors Nationally

It's 2010 - How's your "Bucket List" coming along?

Instead of jotting down my annual goals this year which I have done for the past 10 years, I decided to work on my "bucket list" (a.k.a. "100 Things to do before I die"). Whether it's buying your first home, traveling to Australia, parachuting out of a plane, or just getting on an airplane, at some point we realize life is flying by and I don't want to be on my death bed saying, "gee, I wish I had.....".

Hence, the beginning of my "bucket list". I always wanted to get more involved in our awesome community. However, the idea of getting up in front of a room full of people makes me lightheaded. In order to overcome this fear, I've become involved in the Bay County Association of Realtor's Leadership program. I even have to go through TOASTMASTERS, talk about being out of my comfort zone!

Another item on my "bucket list" may seem small to many, to me it was huge - complete a 5K. I figure if my husband Ron can complete the Gulf Coast Triathlon (swimming a mile, biking over 50 miles, then running a 1/2 marathon (and after brain surgery), surely I can finish a 5K. I am glad to announce I ran in and completed my first 5K on Sat., April 3, 2010. On to the next item on my list....

Why do I mention my "bucket list"? Because life does pass us by before we know it. So, if you have been thinking about buying that first home, move up home, or maybe downsize so you can spend more time with the grandkids or your loved ones, now is the time. WHY? Rates are low, there's a large amount of inventory to choose from, it's a great time to afford a "move-up" home or become a landlord.

Maybe your "bucket list" includes living on a tropical island? Hey, I can find that for you too!

Good luck with YOUR bucket list and here's to a fabulous, healthy, successful 2010!

Karen


Karen Branham, e-Pro, SRES, Broker Assoc., SFR
"Exceptional Service"
Coldwell Banker United, Realtors
(850) 832-8626 or visit me at www.KarenBranham.com

What I Know For Sure In 2010

As we fully embrace the first quarter of 2010, I would like to share with everyone a few things that I know for sure. One, I know how grateful I am to be born in this amazing country. I know for sure I am grateful for the business relationships I have built up over the years. I have not only enjoyed the business aspect of real estate, but I have also enjoyed the friendships that have come with it. I have enjoyed helping my buyers and sellers with their real estate endeavors. Whether it was a challenging short sale or a relocation due to a job transfer, or maybe I helped you with your first home or it was time to enter a new chapter of life called retirement, I have enjoyed our journey together and look forward to working with you again.

I know for sure I have an incredible family and support system. I have two amazing daughters, Katie 19, Erin 15, and I know my life has been full of many things including side-splitting laughter and deep love because of what they bring to this world. I know for sure I was meant to be a mother.

I know for sure that I have the most incredible husband a girl could ever ask for. Ron and I have been married for 24 years. He has been along for this ride that we call life, through the ups and downs and there is no other "gentleman" (in every sense of the word) that I have enjoyed spending my life with and look forward to spending the next 50 years with. I know for sure he has been my source of strength, my rock, my cheerleader, my friend (and a few other things I can't mention), and I know for a fact he has taught me so much in life. I know I would not truly understand the power and meaning of kindness, sharing, bravery, strength, compassion, compromise, dignity, friendship, confidence, self worth, humor and of course love, had he not taught me. I know I am a lucky girl.

I know 2010 will continue to be a challenge for many, whether it's personally, professionally, health wise or maybe spiritually. I know I will smile when I see my dog optomistically wait at the pantry door for her cookies. I know I will continue to drive my family crazy, I will look forward to date night as well as a laugh or two at my girls night out. I will look forward to the sun coming up each morning, as well as look forward to being greeted at the office by my extended Coldwell Banker family.

Finally, I know for sure that I have no idea what the new day will bring, but I do know for sure, I will optomistically look forward to it!

Happy Valentine's Day to Everyone! Karen

Karen Branham, e-Pro, SFR, SRES
USAA Certified, Broker Associate
Coldwell Banker United, REALTORS
Direct: 850-832-8626
Visit me at http:www.KarenBranham.com