This How-To video from Info 4 Your Life contains easy to learn garden tips to help you grow radiant flowers and lush green lawns and show your neighbors that you do indeed have a green thumb!
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ORLANDO, Fla. – June 20, 2013 – Florida’s housing market continued its upswing in May, with higher closed sales, more pending sales, rising median prices, more new listings and a lower inventory of homes for sale, according to the latest housing data released by Florida Realtors®.
“Home sales continue to increase, it’s taking less time for sales to close, and median sales prices are on the rise,” said 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “This is the 17th month in a row that we’ve seen the statewide median sales prices increase year-over-year for both single-family homes and for townhome-condo properties.
“Sellers are seeing this momentum in Florida’s housing sector and it’s prompting many to decide now is the time to list their property for sale. Statewide, new listings for single-family homes increased 10.2 percent in May, while new townhome-condo listings rose 7.1 percent.”
Statewide closed sales of existing single-family homes totaled 22,375 in May, up 18.7 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 30.8 percent over the previous May. The statewide median sales price for single-family existing homes last month was $171,000, up 15.9 percent from the previous year.
According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in April 2013 was $193,300, up 11 percent from the previous year. In California, the statewide median sales price for single-family existing homes in April was $402,760; in Massachusetts, it was $315,000; in Maryland, it was $258,093; and in New York, it was $218,875.
The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties downwardly distort the median price because they generally sell at a discount relative to traditional homes.
Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 11,201 units sold statewide last month, up 11.5 percent compared to May 2012. Meanwhile, pending sales for townhouse-condos last month increased 18.3 percent compared to the year-ago figure. The statewide median for townhouse-condo properties was $128,000, up 13 percent over the previous year. NAR reported that the national median existing condo price in April 2013 was $189,500.
The inventory for single-family homes stood at a 5-months’ supply in May; inventory for townhouse-condos was at a 5.4-months’ supply, according to Florida Realtors.
“The numbers continue to move in the right direction,” said Florida Realtors Chief Economist Dr. John Tuccillo. “We remain concerned about the rise in the percentage of sales accounted for by all cash buyers. These numbers understate the true condition of the market in that a great many sales are conducted directly with the financial institution holding the property, and thus do not appear in the Multiple Listing Service (MLS).
“But those crying doom-and-gloom who read this growth in investor activity as the sign of a new bubble are far off-base and simply don’t understand the texture of the current market.”
According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.54 percent in May 2013, down from the 3.80 percent average recorded during the same month a year earlier.
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The Housing market continues to heat up here in South Florida!
Monthly Market Update for April 2013:
Single Family Home Median Sales Price: +22%
Single Family Home Average Sales Price: +11.2%
Single Family Average days on Market: -24.4% (Down to just 34 days on Market!)
Single Family Homes Traditional sales were up while both Foreclosures and Short Sales were both down!
Condo median sales price was up +24%
Condo Average Sales price was up 16.7%
Condo average days on the market was down -18.2%
And again tradional sales of condos was up while Foreclosures and Short sales were down!
Continue to follow my blog for South Florida Real Estate News and updates! Make it a great day!
Now that summer has arrived. We need to break out those dirty grills that we covered last year and forgot about! I know here in South Florda we use them all year round so this video will be just a refresher for you guys!
Lowe’s home improvement expert, Mike Kraft, shares tips on cleaning charcoal, gas and stainless steel barbecue grills and grill grates in this easy to follow video.
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With the summer months coming up quick. Our lawns need some extra care and maintanance.
In this informational video from Craftsman, learn the tricks of the lawn care game from Jonathan Wright, head groundskeeper for Harbour Town Golf Links at the Sea Pines Resort! Tool care, watering — he’ll explain it all!
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Looking for ways to grow a great garden here in South Florida. I know I always am! Found this video with some good tips on doing just that.
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