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Monday, March 18, 2019   /   by Andy Mandel

Can Buyers and Sellers Still Take Advantage of Our Coral Springs Market?

Now that we’re almost finished with the first quarter of 2019, what do the numbers say about our Coral Springs market? Here is an analysis of how the latest single-family home stats from the first two months of the year compared to 2018’s numbers:

The number of new homes coming on the market increased by 1%
The number of closed sales, meanwhile, stayed relatively flat
The median sales price only increased by 3.77%, which is a considerable drop from the double-digit increases we saw last year and the years prior
The average days on market increased from 32 days to 42 days

Because the number of new listings rose and the number of closed sales stayed the same, there is currently more inventory for buyers to choose from, which should put downward pressure on pricing moving forward. Homes are also taking longer to sell, which means the market is moving slower in general.

The good news is this isn’t anything to be concerned about. All this means is ...

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Thursday, February 28, 2019   /   by Andy Mandel

Never Buy a Home Without Title Insurance

Want to sell your home? Get a FREE home value report.Want to buy a home? Search all homes for sale.

Today I’m joined by Paul Mandel, title attorney, and owner of Capital Abstract & Title (and also my father), to answer two very important questions: What is title insurance, and do buyers really need it?

What is title insurance?

Essentially, title insurance is an insurance policy that ensures that you have clear title to your house and that there are no other owners who can lay claim to it or any mortgages, liens, or encumbrances on it. If you don’t have title insurance, you guarantee these things.

If you buy a property without title insurance, you don’t really know what you’re buying because a title search hasn’t been done on the property, and there could be prior encumbrances from prior owners of the property.

Do buyers need title insurance?

Absolutely. While it’s not legally required of you to get title ...

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Friday, February 8, 2019   /   by Andy Mandel

How Filing for Homestead Can Help You Save Big on Taxes

Homestead was added to the Florida Constitution in 1992, and it protects your primary residence from creditors as well as lowers your taxes. On your homesteaded property, the county will take your assessed value and subtract $50,000 to get your taxable value. For example, if you have a $400,000 home, they’ll base your taxes off $350,000. This is a substantial savings you should take advantage of if you can.

On top of this, it puts a cap on how much the county can increase the assessed value of your home, maxing out at whichever is less: the consumer price index(CPI) or 3%. For example, if you bought a property for $100,000 in 2018 and it’s now worth $125,000, the county can only assess it at $103,000. This compounding effect can build up—if the market keeps rising but your assessed value can only go up by 3% each year, your taxes will stay low.

If you decide to sell, the next buyer will be able to assume your tax base for the remainder of the year. This ...

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Thursday, January 24, 2019   /   by Andy Mandel

2018 Real Estate Market Recap and 2019 Predictions

Today we’ll be going over what we saw in our real estate market throughout 2018, as well as give some predictions for what may be coming in 2019. In our recap, we’ll be focusing exclusively on single-family homes here in Coral Springs, but similar things are happening in the surrounding areas.

New inventory in our market has increased 8% from 2017. We’d been seeing a steady decline over the last few years, and this new change brings good news for buyers. Closed deals fell 4% in 2018, so while more homes are coming onto the market, fewer are selling.

The median home price at the end of 2018 was $405,000—a 5.69% increase year to year. Our days on market is down by about 5 days, and it now takes around 35 days to sell a home. Currently, in January 2019, we have 3.12 months’ worth of inventory. Six months of inventory means a balanced market; anything less is a seller’s market and anything more is a buyer’s.

We’re in the sam ...

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Wednesday, December 26, 2018   /   by Andy Mandel

Help Us Help 75 Families Buy or Sell a Home in 2019

Want to sell your home? Get a FREE home value report.Want to buy a home? Search all homes for sale.

We’ve set a New Year’s resolution to help 75 families buy or sell a home in 2019, and we need your help to do it.

If you know anyone thinking about making a move in 2019, we would love it if you introduced us to them so we can ensure that they get the best service possible. No matter when they plan on buying or selling, we want to get in touch with them early and help them prepare for this transition.

Thank you so much for your help, and we hope you have a great 2019! If you have any New Year’s resolutions you want to share with us, don’t hesitate to reach out to us. We’d love to catch up.

As always, if you have any real estate questions for us or you yourself are thinking about buying or selling a home in 2019, feel free to give us a call or send us an email. We’d love to help.  

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