Ramesh Nyberg's Real Estate Blog

If you've been reading this blog, you know I like to mention home sales data here, because it is the driving force behind how the housing market behaves. How important is that? I think we can safely say that the housing market is in large part responsible for the domino effect that has plunged our economy into this grim state it is in.

I've been following the home sales in Miami-Dade (single family homes only) and for the most part, we have seen a steady increase in sales since last December. The numbers dropped slightly in November, but this is pretty normal for this time of year, when people switch their attention to the holidays. What is very pleasantly surprising is that inventory (unsold homes) also dropped--significantly, for the second straight month. That's the first time we have seen that happen in well over a year.

You can check the charts yourself, by clicking "$ales by the Numbers" on the link column to the left. I've got the sales stats for Miami-Dade, Pinecrest, and Palmetto Bay there.

This morning, I was on the radio with my buddies from Circle Mortgage. They do a great show on real estate on Sunday mornings, 8-9am, on WFTL 850am radio. (to call the show, call 1-877-850-8585).
We talked about how low interest rates are, and how playing a waiting game with buying is a losing proposition. I see people do this alot. Besides risking paying a higher interest rate, the home you really want might get scooped up by the time you are "ready" to buy. Not every listing sits on the market forever, especially if you are talking about a dramatically priced foreclosure. Those are getting sold at a pretty brisk pace.

And don't forget, if you are a first time home buyer, the federal government is giving you a $7500 tax credit, but you have to close by July 1, 2009.

More good news, my Dolphins are 9-5 and might even land a playoff spot. Pretty amazing, when you consider that they were the laughing stock of the league last year. Proof positive that things can turn around.

No, food is for eating. That's my philosophy. Right now, my mind is on my friend's new restaurant in Miami Springs. If you want a real treat, and have real authentic Spanish food, go to San Sebastian, at 4441 NW 36 St. Awesome tapas, great entrees, a nice variety of beers and wines, and a great atmosphere (not to mention surprisingly decent prices). Tell my football buddy Gus Carol, the owner and head chef, I sent you.

Some great customers of mine just closed on their new home out in west dade. So far west, in fact, that I call it "East Naples." Congratulations to Humberto and Cyntianna! They scored big on a foreclosure, and it was in move-in condition.

Alot is happening in my office--we just inherited 20 Realtors from our Pinecrest Villages office, which just closed. So we have new faces, we're playing musical desks, and generally, we are in this state of pleasant chaos.

All this change is sure to make this office--which has been the #1 Coldwell Banker office in Florida the last 3 years in a row--even busier and better.

I just got back from a nice week of semi-vacation in Orlando. Semi-vacation is when you do Disney, Seaworld, and other stuff for 3 days, and a real estate seminar the other two. It was fun, and the seminar, which was on commercial real estate, was excellent. I'm working more and more commercial into my business plan. I'm finding many of my customers that I deal with in the residential market are asking about commercial properties for their businesses, so I am excited about continuing to branch out in that direction.

I will try to make one more post before Christmas-- if I fall short of that mark, let me wish everyone now a very Merry Christmas, Happy Hannukah, and joyous Holiday Season, regardless of what you celebrate.
Enjoy it!