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A Look Inside South Florida’s Real Estate Market - April 2020

Amid these unprecedented times, The Pearl Antonacci Group of Lang Realty is endeavoring to keep you educated on the latest trends in the Miami-Dade, Broward, and Palm Beach County real estate market, as we all prepare ourselves for whatever the future may bring. Whether you have already begun the process of buying or selling your home or are planning to in the near future, arming yourself with the most up to date information is more crucial than ever. See our latest area real estate insights for April of 2020 in the market report and graphs below. 

Our team has separated the monthly data between townhouses/apartments/condos and single-family homes. We have also compared these figures to

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At The Pearl Antonacci Group of Lang Realty, the health and safety of our agents and clients is the top priority.  Here's what we're doing to ensure that we stay connected and continue to provide home buyers and home sellers with impeccable service.

Virtual Tours and Open Houses

We have the ability to take a targeted audience on a virtual journey through our real estate listings via walk-through video tours and Matterport technology which uses a floor plan of the home and 3D technology to take viewers from room to room all on a tablet or computer. 

Using dynamic, agent-guided video promoted via digital, mobile, and social channels, we can showcase the key features of your property to interested clientele wherever they are.  Take a look

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Home staging is the art of helping buyers visualize a space as livable. But do you need to physically haul in furniture and spend thousands of dollars to tap into their imagination?

Not necessarily.

With virtual staging, you can take that same mid-century modern couch, vintage throw rug and flower vase you’d normally find in your stager’s U-Haul and insert them into your listing photos digitally instead. Goodbye heavy lifting, hello drag and drop!

By specially arranging computer-generated furnishings and props in key rooms, you can stage your bare-bones, vacant house to make buyers see, “Oh, I could put my desk right there!” or show visually how to configure an awkward layout. It costs a fraction of what you’ll pay for traditional staging and

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Learn more about Zillow's online home valuations

Thinking of selling your home and wondering what it’s worth?  You may want to be careful about the home value estimates you see online because many are either far above or far below the true market value. 

Boca Raton home sellers who set their expectations on inaccurately overestimated home values may fall victim to overpricing their homes for sale which will ultimately lead to frustration because they don't sell.  When a home is overpriced, it will languish on the market for months, causing multiple price reductions as they "chase the market" and most likely result in a lower sale price than if they had priced it right from the beginning.   

Zillow, Trulia, Realtor.com's Automated Home Value Calculators

Zillow and Trulia have become the

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Properties coming to the market are being priced at record highs. Experts watching the economy state that these prices are not indicators of another market crash on the horizon. The term “housing bubble” is a scary one, but that is not what is happening today.

CoreLogic reports that two times as many urban markets are overvalued. This means that prices are inflated compared to the incomes of people looking to buy in these areas. This is a comparison between the second and first quarter numbers of this year. The values on these homes are not expected to fall anytime soon, which is the opposite of what a bubble is. Bubbles eventually burst. These home prices are high because there is limited inventory in desirable areas. Not because of sketchy selling

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According to Freddie Mac's latest U.S. Economic & Housing Market Outlook, U.S. home sales in 2015 will show increase to the numbers associated with a normal real estate market. Here is their projection:

"We are projecting a 4 percent rise in sales to 5.6 million, which would mark the highest level of annual sales since 2007."

And their optimism was seconded by both the National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA).

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Realtors vs. For Sale By Owner

Let us see if selling your home by yourself as a FSBO (For Sale by Owner) is really cheaper as compared to selling it through a Realtor.

It has been discovered through research conducted that FSBO (For Sale By Owner) takes longer to sell, in addition to the fact that about 21% of them end up being listed on Multiple Listing Service (MLS). This leads to an average of 68 days longer as compared to real estate listed with a Realtor. So, with a Realtor, the average property spends approximately 69 days on the market, while with the property being sold by the owner, (FSBO), it spends as long as 88 days on the market.

Are you really saving money?

Many home sellers in today's real estate market are inclined to at least

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Understanding Real Estate Closing Costs and ProrationsIt's very common to see a purchase contract with provisions for prorations. This type of contract should be read closely and you should understand the prorations before signing. It may even be necessary to request a change to the verbiage used for the prorations.

Most of the time, the buyers are the ones responsible for the prorations. These changes will often show up as a debit on the closing statement for the buyer and will be a credit on the sellers closing statement.

Prorations usually increase the net profits of the seller and they cover items which were prepaid by the seller for a time when the seller won't own the property.

Prorations for Mortgage Interest

Sometimes, you will need to understand what the mortgage interest

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Pearl from Boca Raton, Had an Impressive 196 Closed Transactions On His Way to Becoming One of South Florida’s Top Professionals

Brian Pearl Named One of America's Best Real Estate Agents

Boca Raton, FL July 8, 2014 - Brian Pearl of Lang Realty was named one of America’s top real estate professional teams by REAL Trends and as advertised in The Wall Street Journal.  He is now a member of the “The Thousand Top Real Estate Professionals,” a prestigious national awards ranking sponsored annually by the two respected publications.  Pearl is now ranked in the top one half of 1 percent of the more than 963,000 REALTORS® nationwide.

The Thousand real estate professionals was announced on July 8, 2014, with four separate categories honoring the top 250 residential agents and agent teams for excellence in:

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    New Interchange on I-95 at Spanish River Blvd in Boca RatonAstaldi Construction of Davie, Florida broke ground on the new construction of I-95's newest interchange at Spanish River Boulevard.  Besides the new exit at Spanish River in East Boca Raton, work includes widening Spanish River Boulevard west of FAU Boulevard, constructing 13 bridges between Spanish River Boulevard and Yamato Road, signalized intersection improvements and the addition of auxiliary lanes on Yamato Road, and sound wall construction along Yamato Road and on the east side of I-95 north of Yamato Road.  When the $66.7 million project is finished in late 2016, it will give Boca Raton its fifth I-95 interchange and provide Florida Atlantic University direct access to and from the highway. It also will be the first new I-95 interchange in Palm

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