Troubling Home Sales Decline in South Florida
by Sep Niakan | April 09, 2014
Distressed residential sales in South Florida continue to decline since report in 2013.
The residential sector of Palm Beach County has foreclosed or had short sales on almost 3,600 transactions in 2013, or 23% of the county’s single-family sales, according to data from the Realtors Association of the Palm Beaches.
Distressed sales represent 29% of the transactions in Palm Beach County in 2012. Condos represent 20% of sales tangled in the distressed loans in 2013, down from 24% in 2012.
Broward County had over 4,600 short sales and foreclosure transactions in 2013, or 31% of the single-family sector. This was a far drop downward from 2012, when distressed sales were 43% of the sector’s transactions.
“The bargain days are gone,” chief economist of Florida Realtors, John Tuccillo said, “That’s the bottom line in all of this.” Prices will be much different in the changing markets.
by Sep Niakan | December 06, 2016
It’s my favorite time of year to be in Miami! The weather has cooled off a bit. The city’s abuzz with people from every corner of the world (thanks to Art Basel). The holiday spirit is gradually taking over, and there’s a bunch of...
by Sep Niakan | November 29, 2016
This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...
by Sep Niakan | November 24, 2016
Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...
by Sep Niakan | November 22, 2016
It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...