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Delray Beach, FL Real Estate News

By Pam Orzan Broker, Owner, Selling Delray, Boca Raton, & Boynton Beach
(Coastal Living South Florida Real Estate)
Renters, Buying May Be A Better Option! According to a new report by RentCafe, an online rental marketplace, rental prices are up 7% and the spaces are 8% smaller! With developers paying more in construction costs and the demand in large cities being higher, they are forced to fit more units in a smaller space. New studio apartments may be the smallest in size, having been downsized nearly 18% since 2006. The average size is now 504 sq. ft. One-bedroom apartments have shrunk by 5%, from 794 sq. ft. 10 years ago to 752 sq. ft. today. Two-bedroom apartments, however, have mostly held steady over the past 10 years, actually increasing 1% to 1,126 sq. ft.This may be a better time to buy, unless a renter has certain circumstances that make it less feasible. Those reasons could be, lack of cr...
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By Rei Mesa
(Berkshire Hathaway HomeServices Florida Realty)
Buying homes for sale in Delray Beach are most likely to be made by couples, but there is a buying power that is growing in the Delray Beach real estate market as well as across the country – single women.Single women are coming into their own when it comes to being financial independent. In years past it seems that many women were unsure about their future financially and matrimonially, holding on to renting properties until they married. That type of mindset could end up costing them a lot of money that could have better been used in building up their own home equity.Take a look at some of the statistics defining this up and coming new home buyer at the Berkshire Hathaway HomeServices Florida Realty. Some of the numbers may surprise you.
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By Rei Mesa
(Berkshire Hathaway HomeServices Florida Realty)
Home insurance in Florida is optional, at least if you are paying cash for a property, like Delray Beach real estate. However, for most home buyers, a home loan will be required and most mortgage lenders typically require insurance to cover their own investment.When examining the different types of insurance coverages, insurance shoppers need to know that there are standard areas of coverage that will provide the bare bones. Although paying the lowest annual premium may be an attractive feature, it isn’t all there is to think about when insuring your biggest investment.There also are some lesser known factors that may affect a potential property owner’s coverage to their Delray Beach real estate property. Read 6 not-so-well-known aspects at the Berkshire Hathaway HomeServices Florida Re...
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By Elyse Berman, PA, Boca Raton FL (561) 716-7824
(LoKation Real Estate)
    Pet Friendly Homes for Sale in Valencia Palms in Delray Beach FL Why Do People Live here? Valencia Palms is a pet-friendly active-adult community of single family homes centrally located in Delray Beach.  It is also a guard gated community in Delray Beach.    It's not uncommon to see people out walking their dogs, or just out walking, or down at the  clubhouse in this very active 55+ community.   Valencia Palms is close to everything and about 15 minutes from the beach.   Looking for a home in Valencia Palms? Interested in finding  homes for sale in Valencia Palms Neighborhood of Delray Beach FL?  Click that link to find all the currently available homes in this area of Delray Beach, FL. What's the Neighborhood Like? The homes you would expect to find for sale in Valencia Palms are ...
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By Elyse Berman, PA, Boca Raton FL (561) 716-7824
(LoKation Real Estate)
 Home Prices in Delray Beach FL for May 2016  Real estate market data for Delray Beach, FL provided by Elyse Berman of Realty Associates Florida Properties.  We continue to see higher prices on home prices in Delray Beach FL and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Delray Beach, but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long. Many of our listings are selling within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Delray Beach home on which you are...
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By Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA
(Coldwell Banker Access Realty)
The Daily (061016) Hot Sheet of Top Real Estate News Trending Now  Downpayment assistance programs keep on givingWith downpayment assistance, it's not just about dollar value. By lowering the total mortgage amount, some Fla. buyers can save $50K over the life of the loan. Read more.State flags Assignment of Benefits restrictionsFla.-owned Citizens was granted permission to limit Assignment of Benefits policy coverage, and private insurers quickly asked for the same right. But some requested more restrictive changes and the state turned them down. Read more.Unpaid HOA assessment can lead to foreclosureReal estate Q&A: What can happen if several homeowners in an HOA don't agree with a special assessment and refuse to pay it? Read more.30-year mortgage rate slips to 3.60%Long-term mortgage...
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By Elyse Berman, PA, Boca Raton FL (561) 716-7824
(LoKation Real Estate)
Pet Friendly Homes for Sale in Valencia Falls, Delray Beach FLWhy Do People Live here?Valencia Falls is a pet-friendly active-adult community of single family homes centrally located in Delray Beach Florida.  I t's not uncommon to see people out walking their dogs or at the  clubhouse playing cards, sitting by the pool, doing arts and crafts or in the cafe in this 55+ community. Valencia Falls is an active community.  It's also close to shopping and about 15 minutes from the beach. Looking for a home in Valencia Falls?Interested in finding  homes for sale in Valencia Falls Neighborhood of Delray Beach FL?  Click that link to find all the currently available homes in this area of Delray Beach. What's the Neighborhood Like?The homes you would expect to find for sale in Valencia Falls are ...
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By Pam Orzan Broker, Owner, Selling Delray, Boca Raton, & Boynton Beach
(Coastal Living South Florida Real Estate)
Protect your credit score!Your credit score is one of the most important things to protect when thinking of buying a home. There are major factors that can lower your score. Don't max-out your credit cards. You should always have available credit open. Never make a large purchase (ex: a car) before getting a mortgage. Never pay your mortgage or credit card bills more than 30 days late. Debt settlement agencies can help consolidate your debt into easier payments, but for a price. It can lower your score 45-125 points. Bankruptcy is unfortunately almost never reversable on your credit report. Avoid foreclosures as they can reduce your score by 80-160 points. The 3 major credit scoring services are: www.equifax.com                                                                            ...
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By Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA
(Coldwell Banker Access Realty)
The Daily (060316) Hot Sheet of Top Real Estate News Trending Now    1 in 10 home sales flipped in many Fla. metrosRealtyTrac: Home flipping increased 20% in the first quarter, though the total number of flips was still 26% below its 2006 peak - and more flippers now pay cash. Read more.Smart homes? You ain't seen nuthin' yetAmazon's Echo speaker responds to voice commands, and homes obey when owners say things like "Open curtain" or "Make coffee." Experts predict a voice tool will be mainstream in less than 20 years. Read more.30-year mortgage rate rises to 3.66%The average FRM has risen slightly for three weeks in a row, though it's still below year-ago rates. Only 16% of experts predict a short-term drop, however. Read more.Can HOA step in if landscaping not up to par?Real estate Q&A...
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By Rei Mesa
(Berkshire Hathaway HomeServices Florida Realty)
Home staging is something that we have all heard of before, but it is important to tell every new home seller what it is they need to do if they want to move their homes for sale. In Delray Beach and other locations along the South Florida and Treasure Coast, homes sell quite quickly because of the gorgeous location. But, it doesn’t hurt to highlight a home’s strongest points and downplay its weakest with sophisticated staging that appeals to the greatest possible pool of prospective buyers.Familiarize yourself and your home sellers with 5 tips that can help sell Delray Beach real estate quicker and for a higher price. Visit the Berkshire Hathaway HomeServices Florida Realty News Blog for a brief refresher.
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By Pam Orzan Broker, Owner, Selling Delray, Boca Raton, & Boynton Beach
(Coastal Living South Florida Real Estate)
Hurricane Season Starts June 1st, Be Prepared! Another Hurricane Season is upon us!   Being prepared for the Florida hurricane season is crucial. Here are some things to remember before the hurricane strikes.Have a plan. Have a place to go if you get evacuated or choose to leave your home. Keep in mind when deciding where to go that Florida's large metropolitan areas may have hotels that fill up quickly, so make a reservation before you leave. Also, don't delay departure and be prepared to wait in traffic.Keep a hurricane supply kit that can accommodate 3-7 days if need be. Your hurricane kit should include water, 1 gallon per day per person, non-perishable canned and packaged food, non-electric can opener, food for infants and pets, any medications, paper plates and plastic utensils, ...
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By Elyse Berman, PA, Boca Raton FL (561) 716-7824
(LoKation Real Estate)
Home Prices in Delray Beach FL for April 2016  Real estate market data for Delray Beach, FL provided by Elyse Berman of Realty Associates Florida Properties.  We continue to see higher prices on home prices in Delray Beach FL and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Delray Beach, but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long. Many of our listings are selling within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Delray Beach home on which you ar...
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By Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA
(Coldwell Banker Access Realty)
Super Size Litter Box in the Kitchen, Good or Bad Idea? When you have been in the business like myself for almost 32 years you tend to see a few interesting things. I was on a recent listing appointment not long ago and this was sitting in the breakfast area. Notice the table standing nearby. I don’t know about you, but there is something about eating and looking at this, that screams out I just lost my appetite. I would love to hear from the folks that stop by what you have noticed in your travels, that struck you a little odd or disgusting.   
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By Rei Mesa
(Berkshire Hathaway HomeServices Florida Realty)
Sunday evenings shouldn’t be a time when your mind starts working overtime as you plan out and stress out about what your Monday is going to be like. Not that planning and confirming your schedule isn’t a good thing for Delray Beach real estate professionals, it just shouldn’t be a stressful event.One way you can destress your mind-think is by kicking off your Sunday evening with a session of Sunset Yoga at the Beach. If you haven’t tried yoga, then give this free class a try. It not only will get you into a positive mindset, yoga also can help improve your physical health. Find out more at the Berkshire Hathaway HomeServices Florida Realty website.
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By Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA
(Coldwell Banker Access Realty)
 The Daily (051316) Hot Sheet Of Top Real Estate News Trending Now     30-year fixed mortgage rates hit three-year lowThe average 30-year fixed mortgage rate dropped to 3.57% - far below its 3.85% one year ago and the third week in a row for a decline. Read more. Frustrations fly over FHA loan hangupsA lot of people aren't thrilled with FHA loans, including Realtors, appraisers and underwriters who aired grievances at NAR's Legislative Meetings this week. Read more. Agents, investors making unsolicited offersReal estate Q&A: A couple occasionally gets handwritten notes from strangers asking if they'd like to sell their house. Are these offers serious? Read more.Fitch: New-home sales should go up 14.6% this yearAfter "a solid spring," builders should complete 2016 with 11.5% more single-...
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By Rei Mesa
(Berkshire Hathaway HomeServices Florida Realty)
Not all homes are created equal. Realtors who have been in the business for any length of time know that statement is oh so true. When helping home sellers move their Delray Beach real estate on and off the real estate listings, it may take some real finesse to assist in making the home as marketable as possible.There are some basic features of homes for sale in Delray Beach and other places that make a home sell fast. In fact, researchers at Realtor.com took some time to examine exactly which homes sold the fastest from those listed online. See what they found at the Berkshire Hathaway HomeServices Florida Realty News Blog.
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By Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA
(Coldwell Banker Access Realty)
 The Daily (050216) Hot Sheet Of Top Real Estate News Trending Now   Flood insurance solution takes big step forwardThe U.S. House passed a bill that makes it easier for owners to get private flood insurance or return to national coverage without penalty. It now goes to Senate. Read more. 'Ideal time' to buy a home say 3 out of 4 peopleSurvey: Despite economic concerns, current and prospective homeowners have an increasingly more favorable view of the real estate market. Read more. People's Trust limits water damage coverageThe insurer joins other Fla. firms in limiting water damage claims. It will now be supplemental coverage and max out at $10,000 for 40-year-old homes. Read more.Yes, your HOA can tell you how to parkReal estate Q&A: Condo owners who can't back into a spot or park a s...
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By Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA
(Coldwell Banker Access Realty)
The Daily (042916) Hot Sheet Of Top Real Estate News Trending Now   In 9% of U.S. markets, an all-cash sale costs more RealtyTrac: In Southwest Fla., cash buyers in two local housing markets paid more for listings than buyers taking out a mortgage - a possible sign of a peak. Read moreFreddie: Climate change a concern for housingProperty insurers consider many statistics to calculate rates, and a Freddie Mac suggestion to also include climate change could alter some owners' coverage. Read more.Average rate on 30-year mortgage rises to 3.66%The increase from last week's 3.59% may be temporary, however. Many experts think the Fed's lack of action on short-term rates this week will also impact FRMs. Read more.Florida Bar group gets $23M in mortgage settlementThe Florida Bar Foundation got ...
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By Rei Mesa
(Berkshire Hathaway HomeServices Florida Realty)
Delray Beach real estate may have a brighter outlook for 2016 along with the rest of the nation. April data has experts predicting housing will maintain its momentum in 2016 and be an economic engine of growth. This insight comes from data recently released by Freddie Mac. The report shows that recent declines in mortgage rates have also boosted refinance potential."We've revised down our forecast for economic growth to reflect the recent data for the first quarter, but our outlook for the balance of the year remains modestly optimistic for the economy," says Sean Becketti, Chief Economist, Freddie Mac. "However, we maintain our positive view on housing. In fact, the declines in long-term interest rates that accompanied much of the recent news should increase mortgage market activity, p...
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By Rei Mesa
(Berkshire Hathaway HomeServices Florida Realty)
Latest numbers from The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) show mortgage application for new home purchases are up. Actually, it has shot up to 17 percent, which is a good indication that home sales should be continuing to be on the upswing for the next few weeks.The South Florida real estate market, including homes for sale in Delray Beach, Plantation, and other locations, are showing continuing strength in specific pockets. Single family homes with particular price points are doing well, as are condominiums and new construction.See more of the latest spring real estate market numbers at Berkshire Hathaway HomeServices Florida Realty
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