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TEN REASONS TO GET OFF THE FENCE…
AND BUY WATER FRONT PROPERTY !
1. 1st Quarter Sales are Up. Water Front Sales have stabilized in the 1st quarter of 2008. Prices have dropped since 2006 but declines have not been as great as the media purports.
Data Suggest that 4th Quarter 2007 may have been the bottom with a recovery starting 1st Quarter 2008.
Drop in 1st Quarter Average SP between 2006 and 2008 = 3.38%
Drop in 1st Quarter Median SP between 2006 and 2008 = 14.86%
Drop in 1st Quarter Median SP/Square Foot between March 2006 and March 2008 = 7.83%
Closed Sales 4th Quarter Units Average SP Median SP
2007 35 $1,766,395 $1,200,000
Closed Sales 1st Quarter
2008 37 $2,201,459 $1,500,000
2007 36 $2,251,978 $1,838,388
2006 52 $2,278,608 $1,762,000
(Statistics from MLS, representing single family WF homes in Ft. Lauderdale , East of Federal from Commercial to 17th)
2. 30 Year Mortgage near all time low
3. New Proposals to cut property tax, raise sales tax By Aaron Deslatte | Tallahassee Bureau March 17, 2008
TALLAHASSEE - The state Taxation and Budget Reform Commission will ask voters in
November to cut one-fourth of Florida's property tax for schools and make up the
revenue with a higher sales tax.
The powerful panel that meets every 20 years to propose constitutional reforms
voted 21-4 Monday to send the sweeping plan to voters in November after business
groups lined up to oppose the plan.
The proposal sponsored by former Senate President John McKay would eliminate the
entire, $8 billion-plus portion of property taxes that the state forces school
districts to impose, called the Required Local Effort, by 2010.
To
offset the tax loss to schools, the Legislature would have to pick and choose
between repealing sales tax exemptions, spending cuts, enacting a one-cent sales
tax increase, or through general revenue growth once the economy rebounds.
If voters approve the plan in November, it would represent the most dramatic
re-structuring of Florida's tax system to come out of the more than a year of
debate in the Legislature and campaign trails over cutting taxes.
4. Increasing purchasing power of Euro means strong sales in Florida this summer, especially if the Euro begins to reverse and head back down in value.
5. Stocks Surge to Start Q2; Dow Soars Almost 400 Pts- AP
Wall Street began the second quarter with a big rally Tuesday as investors
rushed back into stocks amid optimism that the worst of the credit crisis has
passed and that the economy is faring better than expected. (AP Press Release).
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6. Nationwide, Housing Sector is building a bottom and recovering.
7. NEW YORK (AP) -- Oil futures extended their slide Tuesday as the dollar gained ground. Lower oil prices mean more travel, lower costs including construction and less inflationary pressure which will sustain lower interest rates.
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8. NAR Hails Passage of Economic Stimulus Package to Help Jumpstart Housing Market Washington, February 08, 2008. |
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The National Association of Realtors® congratulated the U.S. Congress for quickly passing a national economic stimulus package and thanked President George W. Bush for his leadership and willingness to promptly enact legislation that will help thousands of families, the housing market, and the U.S. economy.
9. More Colder Winters Ahead… Should help Florida real estate. Chicago, Illinois - February 7, 2008) Remote Sensing Systems of Santa Rosa, California reports satellite data show January 2008 was the second-coldest January for the planet in 15 years. Scientists have now debunked Global Warming and claim we are now entering a period of cooling temperatures!
10. You’re here...they’re not. JUMP IN…THE WATER FRONT IS FINE AND THE SELECTION OF INVENTORY HAS NEVER BEEN BETTER! Tell me what you are looking for…I’ll find it!
CALL FOR MORE INFORMATION
WaterFront Jim
954 651 1336 Intercoastal Realty, Inc.