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Betty Special
RE/Max Preferred
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Fall Has Arrived!.

List of Improving Housing Markets Hits Record High.

South Florida Sun-Sentinel.com

South Florida home prices rise for 17th straight month

Standard & Poor’s/Case-Shiller index: Home prices up 14.2 percent from a year ago

By Paul Owers, Sun Sentinel

A barometer of South Florida house prices increased in May for a 17th consecutive month. The Standard & Poor’s/Case-Shiller index, released Tuesday, rose 14.2 percent from a year ago.

Case-Shiller measures Palm Beach, Broward and Miami-Dade counties and 19 other major metropolitan areas. All 20 posted annual price gains, with Dallas and Denver exceeding peaks established before the Great Recession.

San Francisco led the nation with a 24.5 percent increase, followed by Las Vegas (23.3 percent) and Phoenix (20.6). Good News for the hard hit Phoenix market!

South Florida and much of the country have too little supply to satisfy intense demand. Investors are scooping up homes in large numbers, often shutting out first-time buyers looking to take advantage of still-low mortgage rates.

Guy Cecala, publisher of the Inside Mortgage Finance newsletter, said more balance between buyers and sellers will help moderate the large price gains — a necessary part of a long-term housing recovery, he said.

“When you get big price spikes, that sets you up for a dip,” he said. “San Francisco at 24.5 percent is not sustainable.”

The index tracks prices of the same house over time. Some analysts say that’s a better measure of the market than median prices of homes sold in a given month. But Case-Shiller data does not include prices for condos and trails Realtor board data by a month.

Last week, the Greater Fort Lauderdale Realtors said Broward County’s median price in June was $265,000, a 23 percent increase from a year ago. In Palm Beach County, the median last month was $259,990, up 16 percent from a year earlier, according to the Realtors Association of the Palm Beaches.

Bo Mastykaz, a South Florida real estate agent for Redfin, said buyers who need financing find the market particularly frustrating.

“The sellers are just not accepting my offers,” he said. “They’re waiting for straight cash.”

Fort Lauderdale Beaches | Hallandale, Hollywood, Dania, Lauderdale-By-The-Sea, Pompano, Deerfield.

Sellers Who Delay May Miss Out.

In an area of mangrove swamps and fertile farmland, Miss Juliette Becker built the first home in 1947 on the SE corner of Sample Road and NE 21st Avenue. Four years later, in 1951, the first acreage was acquired for development by R. E. Batemen. In 1951, the first home in a new subdivision called Hillsboro Isles was completed. On December 23, 1953, the first baby, Cynthia Ann Wright, was born to “Lighthouse Point” parents. From these beginnings the future City of Lighthouse Point began to emerge.

Lighthouse Point is a small town located just north of Fort Lauderdale and south of Boca Raton.  It provides a small town atmosphere and leisurely lifestyle, with all that big city life has to offer just twenty miles south, where you will find Broward Center for the Performing Arts, Las Olas and downtown Fort Lauderdale.

Lighthouse Point offers residents informal affluence at a leisurely pace.  The attractive neighborhoods are quiet, tree shaded, and water-laced. Most of the residences, are single family homes, many on the City’s 18 miles of waterways. You will find older one story homes along with Mac-mansions.   Most homes fall into the upper-medium and top-price range.

Lighthouse Point has easy access to the Intracoastal Waterway, making Lighthouse Point a boater’s paradise. Hillsboro Lighthouse, for which the city was named, has stood constant guard over the Hillsboro Inlet since 1906.

The town is convenient to shopping centers, restaurants, and other business establishments to the west. There are approximately 20 acres of parks and mini-parks and 13 miles of sidewalks/bike paths within the town. To quote a long time resident, “Lighthouse Point is a very friendly place to live”

Lighthouse Point is also the home to well known Lighthouse Point Yacht and Racquet Club which offers boating, tennis, social events and outdoor recreation. With a beautiful South Florida Marina, perfectly located halfway between Palm Beach and Miami, the marina is just minutes away from the Hillsboro Inlet. They offer wide slips and deep water throughout the Marina. Live-a-Boards are welcome!

Lighthouse Point is also home to the famous Cap’s Restaurant.  Recognized as a national landmark, Cap’s is Broward County, Florida’s, oldest restaurant. With roots as a 1920’s casino and rum-running speakeasy, it sits on an island off Lighthouse Point and may be reached by Cap’s motor launch. Cap’s extensive selection of fish and shellfish dishes offers the very best in casual waterfront dining. Come by boat to South Florida’s premier waterfront restaurant – Cap’s Place. History buffs will want to visit the restaurant’s website for an interesting read.

For information on the current Real Estate market please contact:

Betty Special

Remax Sun And Sea

954 865 2095

Sellers, Agents Mostly Agree on Top Home Improvement Projects.

Keeping Current Matters – July 2012

Asking Prices Post Big Jumps in These 8 Cities.