REAL ESTATE – FLORIDA PENDING HOME SALES HIT A SLUMP

According to the National Association of Realtors, pending home sales in Florida is down by 1.3 percent for the month of April.  This is a decline from sales last  year for the same given time.  Despite the decline however, prices remain constant, up from last year at this time.  Pending real estate home sales may be down due to strengthening of the U.S. Dollar, making some property unaffordable to buyers.  The South Florida real estate market has also experienced a dramatic rise in condominium developments, signaling a higher volume of inventory, driving some prices down.

Mortgage rates for real estate purchases continue to be at an all time low, but certified appraisals are also at an all time low, signaling delays in closings as well.

The following reflects the pending home sales regionally for April 2017.  Source:  National Association of Relators

Some sellers may need to wait it out if they don’t get their asking price. Miami and South Florida has always been a hot market and is expected to remain so.

At the Law Offices of Jacqueline A. Salcines, P.A. we have been assisting foreigners, both buyers and sellers, with their real estate needs since 1999.  We are a full service title company and extremely knowledgeable in FIRPTA rules and regulations.

Whether you are buying, selling or refinancing, we will handle all of the details and represent you from contract to closing.

Practice Areas

• Real Estate Closings
• Title Insurance
• Contract Law
• Real Estate Litigation
• Short Sales
• Debt Settlements
• Negotiations