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0 comments • Steve Eckhardt, Tampa & Sarasota Luxury Broker • February 05 2010 08:18PM

U.S. Home Prices Rise for Sixth Straight Month

According to the S&P/Case-Shiller U.S. National Home Price survey , U.S. Home Prices rose for sixth straight month.

1 comment • Steve Eckhardt, Tampa & Sarasota Luxury Broker • January 26 2010 03:59PM

Major Media Outlets Report Sales Are Down When They Are Actually UP

Most of the major news outlets are busy selling the negative part of the most recent National Association Of Realtors figures that report December Sales fell by 17 percent. Every radio report has cried out the same message, "SALES DOWN 17%". If you dig further into the numbers, you will find that sales dropped 17% in December compared to November, but are actually up 15% compared to December 2008.

In fact, for all of 2009 there were 5,156,000 existing-home sales, which was 4.9 percent higher than the 4,913,000 transactions recorded in 2008; it was the first annual sales gain since 2005. And, the median sales price was $178,300, up 1.5 percent from a year earlier. It was the first yearly gain since August 2007. In addition, total housing inventory at the end of December FELL 6.6 percent to 3.29 million existing homes available for sale.

I'm not suggesting that we ignore the negative news, but when the bulk of the news on home sales was positive, why make the whole story about a month to month decrease? 2010 home sales will face challenges with foreclosures, unemployment, and the general economy. The fact that we've experienced a month to month decline means far less to me than the reduction in inventory and the increase of the median price. Too bad the media doesn't agree.

Steve Eckhardt, Broker, Luxury Real Estate Professional

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Read survey results available at the Florida Association Of Realtors

2 comments • Steve Eckhardt, Tampa & Sarasota Luxury Broker • January 25 2010 11:29AM

Foreign investors in real estate say they remain committed to the U.S. as their preferred real estate investment opportunity

According to the results of the 18th annual Association of Foreign Investors in Real Estate (AFIRE) survey, foreign investors in real estate say they remain committed to the U.S. as their preferred real estate investment opportunity. Fifty-one percent of respondents identify the U.S. as providing the best opportunity for capital appreciation.

The survey was conducted in the fourth quarter of 2009 among the association's nearly 200 members. Survey respondents own more than $842 billion of real estate globally including $304 billion in the U.S. The survey was conducted by the James A. Graaskamp Center for Real Estate, Wisconsin School of Business.

Steve Eckhardt, Broker, Luxury Real Estate Professional

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0 comments • Steve Eckhardt, Tampa & Sarasota Luxury Broker • January 19 2010 01:24PM

International Buyers Fuel Home Sales In Florida Market

Florida has led the nation for years in purchases of homes by foreign buyers - one in four of the national total. According to a July survey by the National Association of Realtors of its members, foreign buyers accounted for 32% of home sales in Florida in the prior 12 months, up from 29% in 2008. A weak dollar coupled with discounted real estate prices make Florida even more of a bargain for international buyers.

Foreign Buyers of U.S. Real Estate
Top States' Share of Foreign Buyers
Florida	23%
California	13
Texas	11
Arizona	7
Florida's Share of Foreign Buyers
United Kingdom	47%
Latin America	45
Europe	33
International Buyers in Florida by Region
Canada	26%
Latin America	23
Western Europe (excluding U.K.)	22
United Kingdom	16
Eastern Europe	5
Market Share of Foreign Buyers in Florida
Miami-Fort Lauderdale- Miami Beach	27%
Bradenton- Sarasota-Venice	11
Orlando-Kissimmee	11
Tampa-St. Petersburg- Clearwater	8
Cape Coral-Fort Myers	5
Naples-Marco Island	5
All other areas in Florida	32
Source: National Association of Realtors

While many of us in the industry have seen our share of International buyers over the years, the fact that the demand for Florida real estate has not waned over the last couple years only proves that, over the long term, Florida real estate is still a good investment. If you look at average prices in some of our largest "feeder" areas, like Canada and the UK, you can see why Florida real estate is considered such a bargain. The September 2009 Coldwell Banker Home Price Comparison Index shows that International home prices are MUCH higher than Florida prices. I've included some examples In U.S. Dollars:

Vancouver, BC average home price - $1,174,241

Toronto, Ontario average home price -$766,643

Dublin, Ireland average home price - $1,127,843

London, England average home price - $485,625

All of UK average home price - $257,105

When you consider that the average home price in Florida is around $138,000, our real estate is cheap by comparison.

Steve Eckhardt, Broker, Luxury Real Estate Professional

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Click Here to see the most expensive listings

3 comments • Steve Eckhardt, Tampa & Sarasota Luxury Broker • December 31 2009 10:38AM

10 of the Most Expensive Homes for Sale in the U.S.

We see our share of expensive homes in Florida, but I wanted to give a glimpse of the most expensive homes nationwide.

Steve Eckhardt, Broker, Luxury Real Estate Professional

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www.southerncraftedhomes.com

1 comment • Steve Eckhardt, Tampa & Sarasota Luxury Broker • December 27 2009 10:41AM

Unfair Health Care Provision Targets the Construction Industry, Threatens Recovery and Jobs

Senate Health Care Bill Threatens Home Building Industry December 21, 2009 - In a rush to pass a massive health care overhaul before Christmas, Senate Democrats have included a last-minute provision targeting the construction industry that is certain to derail the fragile housing recovery and threaten the solvency of countless small home building firms. In order to find the 60 votes needed to pass health care reform, a provision was slipped into the health care bill that unfairly targets small construction industry firms by mandating that they provide health insurance if they employ more than five workers. That is the same mandate required for big businesses. Meanwhile, all other small businesses - with the exception of the construction industry - would be exempt from providing mandatory health coverage if they employ 50 workers or less. "This narrow provision is an unprecedented assault on the construction industry and unjustly targets an industry trying to keep its doors open during the worst housing downturn since the Great Depression," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "If this provision were to be enacted into law, it would prove to be catastrophic for the home building industry. In short, this is a true jobs killer. Thousands of small builder firms struggling to stay afloat could go under. We strongly urge the Senate to reconsider and pull this onerous provision that threatens the viability of small home builders across the nation."

This is simply another blow to the construction industry and further threatens its recovery. For the national economy to recover the homebuilding industry must recover.

Reprinted with the permission Of Jim Deitch, COO Southern Crafted Homes

0 comments • Steve Eckhardt, Tampa & Sarasota Luxury Broker • December 23 2009 08:11PM

November Sarasota Area Home Sales 86 Percent Higher Than November 2008

The Sarasota real estate market remained hot in November 2009 with overall sales nearly 86 percent higher than November 2008. Total sales stood at 578 in November, mirroring last month's total of 574 and much higher than the 311 sales reported in November 2008. The breakdown was 417 single family homes and 161 condos sold last month.

Pending sales stood at 793 in November, just below last month's total of 839, and far higher than last November, when only 504 pendings were reported. The statistic is a strong indicator for the next two or three months of sales, as pending sales are an indicator of current buyer activity.

Steve Eckhardt, Broker, Luxury Real Estate Professional

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