We have just released “The Elliman Report: Fort Lauderdale 4Q 2012,” the most comprehensive and timely analysis of the Fort Lauderdale housing market available. The report provides analysis of the overall, luxury and waterfront market trends by property type. It is produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available.The Fort Lauderdale housing market continued to show year-over-year gains in housing prices and number of sales. While price trends for the overall and luxury condo markets outperformed their single family counterpart, single family sales out performed condo sales. The average time to market a luxury property that closed in the quarter slowed as older lagging listing inventory was worked off by the increase in sales activity. While we are encouraged by the gains seen throughout 2012, we anticipate more improvement throughout 2013.As housing conditions change in South Florida, we strive to present our clients with timely insights on the markets we cover. In a region where housing markets are often mischaracterized and misunderstood, we firmly believe that neutral market analysis is one of the best resources we can offer to enable our clients to make more informed decisions. Douglas Elliman is firmly committed to providing information and services to meet our clients’ needs. Explore our full market report series covering south Florida including Miami, Boca Raton, Fort Lauderdale and Palm Beach at http://www.ellimanflorida.com/market-reports/
2013 FAIR & AFFORDABLE HOUSING EXPOSATURDAY, MARCH 9 201310:00 AM TO 3:00 PMWESTCHESTER COUNTY CENTERWHITE PLAINSThe Hudson Gateway Association of Realtors, Inc. is joining with homeownership counselingorganizations, the County government, and area banks and lending institutions to co-sponsor aprogram of seminars and exhibits to help moderate-income and entry-level homebuyers find a home in the Westchester-Putnam region.“Affordable” in the context of this Expo does not necessarily mean subsidized or low-income. Many attendees will have incomes around $70,000 or even $100,000 or more. Further, there will probably be sellers in attendance who are looking for a short sale or other work-around with their property.The role of the Realtors in this Expo is to demonstrate the more affordable possibilities in anadmittedly expensive market. The prospective buyers need everyone’s help, and it is part of ourmission as a Board of Realtors to try to create homeownership opportunities for everyone.The 2013 Expo is run as a non-profit public service enterprise, although we certainly expect you todo as much business there as possible!
Brokers and agents who want to promote their listings on several high-end real estate websites have a new option — Listing-Feed.com.
Currently partnered with the Wall Street Journal, the New York Times and the Boston Globe, Listing-Feed.com automatically syndicates subscribers’ listings to its partner sites, directly from their multiple listing service (MLS) feeds.
Instead of having to manually upload listings and establish a billing relationship with each site, subscribers pay a flat monthly fee to Listing-Feed.com, which taps into the subscriber’s MLS feed and automatically pulls data on pricey homes and sends it on to the selected partner sites.
The service, which costs agents $149 per month to distribute an unlimited number of listings to the three sites, is planning to announce two more high-end distribution partners soon, said Listing-Feed.com founder and owner Jeremiah Poljacik.
The service is available to brokers, too, who can pay $649 per month to syndicate an unlimited number of listings from an unlimited number of agents.
Listing-Feed.com is a cheaper, simpler option for agents who want to advertise their listings on the firm’s partner sites, Poljacik said. By negotiating bulk contracts, the syndication platform offers agents access to these sites at a discounted rate, especially if they have lots of listings they want to place.
I have a thing for property in France, but Italy is pretty interesting, too. Love those dusty old villas, chateaus. It is probably no coincidence that both places have great wine … but I digress.
The point here is that I am referring to countries, because I have only broad-brush knowledge of their geography.
Just as I window-shop listings in Italy and France with little regard for the actual placement of regions and towns, international buyers are prone to that here, too. All of America can be more or less the same to them, at first.
If, like most real estate pros, you’re a sole proprietor, you must file Schedule C with your return to report your business income and expenses, and show whether you have a net profit or loss for the year.
Two new lines have been added to the beginning of Schedule C, labeled “I” and “J.” Line I asks whether you made any payments during the year that required you to file IRS Forms 1099. If you answer yes, you have to answer in Line J whether you have already filed, “or will you file,” the forms.
Similar questions have been added to IRS Form 1065, U.S. Return of Partnership Income; Form 1120, U.S. Corporation Income Tax Return; and Form 1120S, U.S. Income Tax Return for an S Corporation. The same question was added to Schedule E for IRS Form 1040 in 2011.
These new questions are an attempt by the IRS to persuade businesses to file all required 1099s, particularly Form 1099-MISC, the form used to report payments to independent contractors. This is part of the IRS’s ongoing effort to prevent businesses from failing to report all their income.
The 2011 and 2012 droughts across much of the United States may be a harbinger of things to come, and “evidence is showing that many parts of the country may continue to experience moderate to severe drought in 2013 and possibly for several additional years,” the Denver-based American Water Works Association reported.
If that wasn’t scary enough, in December some 61.9 percent of the contiguous U.S. was in moderate to exceptional drought conditions, up from 28.2 percent a year ago, according to the U.S. Drought Monitor, a daily survey produced by a group of academic and government organizations.
I would guess it’s time we all turned our attention to saving water at our places of residence, which I feel some of us — but not enough! — are already doing. However, the big flaw in trying to target the single-family homeowner is that so many of us live in multifamily dwellings, either apartments or condominiums.
When the U.S. Environmental Protection Agency unveiled its WaterSense program at the end of 2009 it focused on new single-family residences. After watching the program slowly taking root, on Jan. 1 the EPA launched a similar labeling guidance program for new multifamily buildings.
The process of deciding whether to refinance a mortgage in order to lower costs involves four steps:
- Step one: Select the preferred type of new mortgage.
- Step two: Find the best available price on that mortgage.
- Step three: Determine whether the cost of the new mortgage will be lower than the cost of retaining the current mortgage.
- Step four: Find a way to prevent being overcharged after committing to the transaction.
Because borrowers navigating these steps must access multiple sources of information, many of which are unreliable if not biased, it is hardly surprising that many bad decisions are made.
The most important of the bad decisions are those not to refinance by many who would profit from doing so. I have written about this several times, most recently in “4 refinance myths debunked.” Among those who do refinance, the most common mistakes are in selecting the wrong type of new mortgage and then overpaying for it.
Common approaches to step one: Borrowers usually select the type of new mortgage they prefer from among the multiple versions of fixed- and adjustable-rate products that are available, before the refinance process begins; for example, they decide they want to replace their current 30-year fixed-rate mortgage (FRM) with another 30-year FRM. This means that their selection ignores price relationships between the different mortgage types. Sometimes this approach makes sense, but all too often it doesn’t.
Zillow’s dominant market share of desktop traffic to listing portals is even more pronounced among mobile users, according to new mobile Web traffic metrics from Experian Marketing Services.
Until now, third-party Web traffic metrics excluded measurements from mobile devices, which left a large chunk — about 25 percent, by some estimates — of traffic unaccounted for.
The new Experian data must also be taken with a grain of salt, because it doesn’t include mobile app usage — only website visits by mobile users who are surfing the Internet using a browser or Web app.
Desktop and mobile traffic data in January tracked each other with some notable exceptions, according to Experian, which surveys mobile data from Apple and Android smartphones and tablets over 3G and 4G networks, and from all mobile device platforms over Wi-Fi.
As is the case with the previously released numbers for desktop traffic, Zillow, Trulia and Realtor.com are the three real estate sites with the most traffic in the category. But Zillow takes a significantly larger chunk of traffic from mobile users (19.78 percent), compared with a 9.17 percent share of desktop traffic.
Redfin (3.69 percent of mobile traffic) and ZipRealty (2.77 percent) also fared much better on mobile than desktop, rising to No. 4 and No. 6 on list of most visited real estate sites from mobile. On desktop, they captured 0.83 percent and 1.13 percent of traffic, respectively, which made them the 18th and 12th most-visited sites in January.