Give Me Inventory or Give Me . . .
INVENTORY! Since January 1, we are showing further signs of recovery, and the media has touted that our housing prices have hit “rock bottom.”
Our inventory is still decreasing in major markets in Broward County. Because of the shortage, multiple bids are becoming the “norm.”
SINGLE FAMILY HOMES: Consider the numbers:
For the Davie-Cooper City areas, one year ago there was only 5.63 months of supply for single family homes. Currently, there is only 4.11 months of supply. Inventory has experienced a 33.62% annual decrease while sales have only decreased 9.15%. 
Over the twelve-months of 2011, there was a decrease in inventory of 28.9% while sold properties were up 67.2%. Pended sales were down 12.1%.
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Your Ship Has Come In! 2100 S. Ocean Drive, 10th Floor, Sky Harbor East Condo Unit C-D, Fort Lauderdale, Florida 33316
This is a rare three bedroom, two-and-a-half-bath condominium located in a very private neighborhood at the beginning of Fort Lauderdale Beach. You will enjoy a full home
experience that has a well balanced floor plan with a spacious living / dining room and built in bar, opening on to a 30-foot private balcony terrace overlooking the Atlantic Ocean, the Harbour Beach community, Intercoastal Waterway and Fort Lauderdale city views.
The large master bedroom suite has a dressing room with dual California style walk-in closets; plus two large guest bedrooms with one now used as a home office. The apartment is wired for four phone lines, DSL, cable and a fire and smoke monitoring system connected to the building’s central security desk. There are extensive closets and storage spaces throughout the apartment that add to its complete comfort.
Galley kitchen has extensive cabinetry and appliances with enclosed washer /dryer and pantry.
The apartment as well as the entire building is fitted with new high-impact windows and in addition this apartment is also fitted with high strength accordion shutters for added security and peace of mind. The building, Sky Harbor East, was built to unusually high standards by a European builder. It is a highly secure and newly renovated building with beautifully decorated lobbies, club rooms, fitness center, and library. It also has beautiful gardens, pool and beach area with a fishing pier. All this is maintained by a conscientious and expertly trained staff and monitored by 24 hour security with closed circuit TV.
Supply and Demand – Economics 101
In some markets, Real Estate sales associates are experiencing low inventories and multiple bids!
According to Bloomberg, “A residential comeback would provide a boost to the U.S. economy. Housing will ‘contribute modestly’ to the economy this year for the first time since 2005, according to Peter de Bruin, an economist at ABN Amro Group Economics in Amsterdam.
If this is a buyer’s market, then why are we experiencing a shortage of homes?
Rising demand for homes has cut into the supply, which is already low because many sellers — especially those with negative equity — are waiting for prices to increase before putting properties on the market.
According to the National Association of Realtors®, about 2.43 million existing homes were listed for sale in February, the fewest for the month since 2005, the year U.S. home sales reached a record 7.08 million. The number of listings rose by 100,000 from January, a seasonal bump that occurred every February since 2000 except for 2008.
The February supply of unsold homes listed for sale was down almost 50 percent from a year earlier in markets such as Miami, Phoenix and Oakland, California, according to Realtor.com.
The Miami Association of Realtors® reported that single-family home prices in the Miami area increased 19 percent from a year earlier to a median $175,000 in February, the third consecutive year-over-year increase.
“The number of listings fell to 5,061 in February, or about six months’ supply, down from a nine-month supply a year earlier, as foreign buyers joined out-of-staters and Floridians seeking to take advantage of low prices,” said Ron Shuffield, president of EWM Realtors® International.
Another reason for the shortage is international buyers. Buyers from around the world know that the United States is still the safest place to invest – and what would be better than to have a second home in sunny South Florida?
New Construction in Cooper City . . . and Davie? Really? Yes!
Since the housing boom has slowed, many of my clients have asked me about construction of new homes . . . .where are they?Fortunately, three beautiful communities come to mind.
Monterra
Monterra offers an amenity rich lifestyle starting from the mid $300s.” They have sold out of their first collection of homes known
as the “Monterey Collection.” The Santa Barabara Collection starts from $341,000 and the Catalina Collection starts around $440,000.
Monterra at Cooper City is a master-planned community spanning over 500 acres in one of the most convenient locations in Southwest Broward County. The community provides easy access to Florida’s Turnpike, I-75.
The entire community offers brand new single-family, estate and townhome floorplans designed in a Santa Barbara and Old-Florida architecture. Monterra claims to be a Community Development District.
Bold & Beautiful — To House All My Children: 194 Cameron Court, “The Lakes,” Weston, Florida 33326
Nestled in The Lakes, “Cameron Lakes,” Weston, Florida, a man-gated community, this double-story residence is on a lushly landscaped lot of approximately 5981 square feet.
Community Features:
- Community swimming pool (gated)
- Tot lots throughout
- Picnic areas
The 2887 square-foot Devonshire 4+den/office residence, built with CBS block, boasts:
A volume entrance opens to a living room-dining room open-floor plan with 4 bedrooms and 2.5 baths.
The two-car garage will house your vehicles and has built in shelving for your storage.
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EWM Realtors Int’l
