Prices Increase in Fastest Rate in 25 Years

Prices in the 3rd quarter rose an average of 13 percent compared to 3Q/2003, according to the Washington DC based Office of Federal Housing Enterprise Oversight. It was the biggest increase since 1979. The slowest growth state was Texas with 3.8% growth.

Florida ranked 7th in price growth, with a 19.6% In the 3Q alone, prices rose 6.3%

Economists are predicting a slight rise in interest rates, to 6.01% in 2005, which may mean that the fastest rate of appreciation may be behind us, but the appreciation rate will still be above average.

Laundry Room Tops List!!

Laundry rooms top buyers' list of most desired extra rooms, regardless of the property size or the buyer's income, according to a survey by the National Association of Home Builders.

Laundry rooms are no longer relegated to the basement, and many buyers are requesting more than one. In addition to washers and dryers, homeowners want cabinets, countertops, drying racks, and pull-down ironing boards, among other amenities. Laundry rooms are now multi-purpose spaces, where homeowners store cleaning and pet supplies, surf the Web, and do crafts.

Builders of single-family homes priced under $200,000 have made deluxe laundry rooms a standard feature, and many are including them in multi-family structures as well.

Home Values Up 24% Over October 2003

In its latest report the Realtor Association of Greater Fort Lauderdale announced that the median sales price in October for a single family home was $292,000, up from $235,000 in 2003.

Condo sales were up 21% from $120,000 to $145,000.

For details and a copy of the report, contact me at steveblog@bellsouth.net.

South Florida is Appreciating

Local NBC affiliate WTVJ - Channel 6 has updated its story of the areas of South Florida where property values are appreciating the most. To see the report, click here.

Wonder what your house is worth? Send me a message by clicking here.

Swank Oakland Park!!

The Oakland Park City Commission has approved zoning changes that developers say will spark the redevelopment of Dixie Highway from Oakland Park Boulevard north to NE 42nd Street. Read the coverage.

Eastside Village Lofts and Townhomes is being submitted for planning and zoning. Interested in living or investing in this development. Click here.

King Tut Coming to Fort Lauderdale

The King Tut exhibition is coming to Fort Lauderdale. This will bring nationwide attention to our community. The exhibition was turned down by some major museums due to the cost of mounting the exhibition and the high fees that will have to be paid by attendees. Read the coverage in the Sun-Sentinel and the New York Times. Here's a link to the Fort Lauderdale Museum of Art.