The number of homes sold in Palm Beach County in April 2008 was 662, up significantly from the sales in February and March and even with the figures from the same month in 2007.

“The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now.”

Statisticians already know statistics can mislead, but it’s easy for journalists and analysts and agents, buyers, and sellers to miss it.

The Florida Association of Realtors® has reported that in March 2008, just 572 single family homes were reported sold by local Realtor® boards in Palm Beach County, down 21% from March 2007, with a median price of $320,200, down 15% from a year ago.

On the positive side, the number of homes sold in March jumped from the 401 homes sold the previous month. And we’ve seen more buyers on the streets looking at homes.

In what might turn out to be a domino falling move, some lenders have been freezing or reducing access to existing home equity lines.

What lessons have we learned in 2006 and 2007 about marketing a home for sale?

One very important one is that in a declining market, just like shooting ducks in an arcade, we have to lead the target.

Comparison of a few sales in area neighborhoods this year and last year.

While individual home values have declined 20% the median home price has only declined 5% - buyers are getting more home for their money.

The Property Appraiser’s office has mailed the 2007 notice of proposed property taxes to Palm Beach County homeowners. Not only have many taxing authorities, such as the county, proposed a reduction in their budgets, but you may find that the market value listed by the property appraiser has been reduced too.
The market value listed on [...]

By popular demand, the Florida legislature has finally put together a package that should alleviate the huge differences in taxes caused by the Save Our Homes amendment to Florida’s Constitution.