The Real Deal Miami

Posts Tagged ‘zillow.com’

  • Housing affordability an issue in South Florida

    Zillow report shows many buyers are getting priced out of typical homes
    April 07, 2014 03:00PM

    marketdataSouth Florida homes are affordable when compared to historical prices, but many properties are too expensive for today’s buyers, the latest report from Zillow.com shows.

    Buyers in Miami-Dade, Broward and Palm Beach counties spend $722 of their monthly income on mortgage principal and interest. That is 12 percent below what was spent during the pre-bubble period between 1985 and 2000. [more]

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  • Lighthouse Point is Broward’s top buyers market: Zillow

    City has wide range of inventory, from middle-class homes to mansions
    March 28, 2014 11:15AM
    A high-end home in Lighthouse Point

    A high-end home in Lighthouse Point

    Upscale Lighthouse Point is giving Broward County homebuyers the most bang for their buck these days.

    The northeast Broward city topped Zillow.com’s list of the county’s best markets for buyers, according to the Sun-Sentinel. Homes in Lighthouse Point linger on the market for an average of 138 days. That is a longer time period than any other Broward market. [more]

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  • Underwater mortgages drop in South Florida

    But region still leads nation in category, Zillow.com reports
    February 28, 2014 12:00PM

    underwaterUnderwater mortgages are declining in South Florida, but the region still leads the nation in the category.

    The latest report from Seattle-based Zillow.com shows that the number of underwater mortgages in Miami-Dade, Broward and Palm Beach counties dropped from 39.6 percent in the fourth quarter of 2012 to 26.7 percent in the last three months of 2013, the Miami Herald reported. But 20.1 percent of homes with mortgages in the tri-county area had debt of at least twice the property value. That ranked highest among the nation’s 50 largest metro areas. [more]

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  • Spencer Rascoff

    South Florida home values rose 12 percent in the first quarter of 2013, according to Seattle-based Zillow.com, but the surge won’t last, chief executive Spencer Rascoff told an interviewer at University of Pennsylvania’s Wharton School.

    “South Florida is appreciating very quickly. That’s a little worrisome. I think those rates of appreciation are unsustainable,” Rascoff said. [more]

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  • Since the recession, renting has been the most practical option for many Americans, but in South Florida, it still may make sense to buy — or at least it will after three years. That’s the time frame in which local homebuyers reach the break-even point, according to Zillow.com data cited by the Sun Sentinel. South Florida has one of the shortest break-even points in the country, with an average of 1.6 years. In West Palm Beach and Miramar, a home buyer will break even in 1.4 years, and in Fort Lauderdale, it will take a home owner an average of 2.8 years to come out even.  [Sun Sentinel] – Christopher Cameron

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  • U.S. Home Prices (source: Zillow.com)

    U.S. home prices increased on an annual basis in June for the first time since 2007, according to Zillow.com, which released its second quarter real estate market report today. Home prices rose 0.2 percent year-over-year in June to reach a median of $149,300. That also marks a 2.1 percent increase over the first quarter, and a monthly increase of 0.7 percent.

    Zillow.com’s report said home values reached their bottom in February, and have since appreciated for four consecutive months at “very robust monthly growth rates,” that Stan Humphries, the firm’s chief economist, does not expect the market to sustain. [more]

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  • Rent prices increased 3 percent nationally year-over-year in January, CNBC reported based on a not-yet-released rental index from Zillow.com, suggesting a possible rental bubble.

    CNBC noted that increased rents have yielded a decrease in home prices for buyers: a 4.6 percent year-over-year decline, but with no set reason for why this is. According to CNBC, when rents increase, renters generally turn to home purchases. [more]

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  • Trulia debuts iPad app

    March 30, 2011 01:28PM
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    Real estate database Trulia.com has just launched its first iPad application, the site announced today on Twitter. The application allows users to search for homes for sale or rent and also displays recently purchased properties. It also plots listings on a map and shows the user’s proximity to them using a GPS program. The free application, which was released two days ago, according to the Apple website, also allows iPad users to save their favorite listings and search for homes that meet specific criteria, such as size, neighborhood and price. Trulia.com, however, is one of many real estate-centric sites to embrace the iPad. TRD [more]

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  • Home values fall 14.5 percent

    March 09, 2011 12:02PM

    Home values in South Florida fell 14.5 percent in January to a median of $138,600, according to the home value index of Seattle-based Zillow.com. Of all the homes sold in January, 46.3 percent went for a loss, which was actually a smaller amount than in the year before, when 49.2 percent of homes sold. “We continue to believe that these high depreciation rates are death throes of the 55-month-long housing recession visited upon us at this time because of the full expiration of the federal homebuyer tax credits,” said Stan Humphries, chief economist at Zillow, in a blog post. “Further, we believe we’ll start to see some stabilization and then reduction in the depreciation rates in the spring numbers ahead of an eventual bottom nationally this year.” [SFBJ]
    [more]

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  • Zillow creates broker reviews

    January 13, 2011 03:17PM

    From the January issue: The real estate data website Zillow.com has launched a new program that allows clients to rank and review real estate agents on a one-to-five scale in categories like “local knowledge,” “process expertise” and “responsiveness.” While Zillow is keeping the rankings relatively quiet as they cull more reviews from users, the feature is familiar territory for Zillow: The site’s Mortgage Marketplace, which allows borrowers to review lenders, has a database of roughly 6,500 user reviews. Amy Bohutinsky, vice president of marketing with Zillow, said that she’s optimistic the feature could be a boon for top agents. “For good agents, public reviews and endorsements by past clients can be a powerful tool to grow their business,” Bohutinsky said of the feature. [more]

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