Real estate in South Florida, Aventura a hot topic. Inventory drops as sales jump

Pending sales jump as inventory drops making it a great time to buy AND sell. The article in the link from THE REALDEAL.com shows pending sales South Florida inventory in February while below you will find information for Aventura condos and townhomes.

Although Feb 2012 had an extra day over Feb 2011, clearly the number of residential listings going under contract is increasing. In Aventura, pending sales for condos went up 23% in year over year as well as over January. Right now there are only 19 bank owned listings for sale in Aventura and 56 short sales listed for sale -- about 8% of what is for sale. Last year more than 35% of sales of Aventura condos were short sales or foreclosures. Interest rates are back below 4%. Now are you ready to buy?

Miami a top city to buy or rent, according to leading real estate website

According to the RealDeal, a report by San Francisco-based Trulia says Miami and Las Vegas are the top cities to buy rather than rent. Buyers and renters currently on the fence about whether to buy or rent should note that interest rates are still at record lows and prices seem to be stabalizing in some areas. Inventory -- the number of for sale properties in any given market -- is also a barameter. In many markets like Aventura, inventory is declining as buyers are coming from all over the world to buy Aventura, Miami Beach, Sunny Isles Beach, Hallandale and Hollywood. Want to get started now? go to www.searchaventura.com or contact me for a personal buyers consultation.

Rates on 30 Year Mortgages Below 5%

Mortgage rates declined for the third straight week. Great news for all home and condo buyers but really great news for first time home buyers who qualify for the $8,000 tax credit and long time homeowners who want to buy a new home and qualify for $6400 tax credit. Both expire in a few months so buyers must go under contract for their new home by April 30. Look for condos in Aventura, Miami Beach and Sunny Isles Beach where the number of sales have increased while home prices are beginning to bottom out.

Need help finding the right home or condo for you? Call me or go to my website property search at www.feinrealtor.com.