July home price index up 3.8% year-over-year

 Sept. 4, 2012 – Home prices nationwide, including distressed sales, increased on a year-over-year basis by 3.8 percent in July 2012 compared to July 2011, according to CoreLogic’s monthly Home Price Index (HPI) for July. It was the biggest year-over-year increase since August 2006.

On a month-over-month basis, including distressed sales, home prices increased by 1.3 percent in July 2012 compared to June 2012. The July 2012 figures mark the fifth consecutive increase in home prices nationally on both a year-over-year and month-over-month basis.

When distressed home sales are backed out of the statistics, home prices nationwide increased on a year-over-year basis by 4.3 percent. On a month-over-month basis excluding distressed sales, home prices increased 1.7 percent. Distressed sales include short sales and real estate owned (REO) transactions.

The CoreLogic Pending HPI measures homes under contract but not yet sold. CoreLogic says that it predicts August home prices, including distressed sales, will rise by 4.6 percent on a year-over-year basis and at least 0.6 percent on a month-over-month basis. Excluding distressed sales, August house prices are also poised to rise 6.0 percent year-over-year and 1.3 percent month-over-month.

“The housing market continues its positive trajectory with significant price gains in July, and our expectation of a further increase in August,” says Mark Fleming, chief economist for CoreLogic. “While the pace of growth is moderating as we transition to the off-season for home buying, we expect a positive gain in price levels for the full year.”

“Although we expect some slowing in price gains over the balance of 2012, we are clearly seeing the light at the end of a very long tunnel,” adds Anand Nallathambi, president and CEO of CoreLogic.

Florida has 26% of all U.S. international sales

TALLAHASSEE, Fla. – Aug. 27, 2012 – Florida Realtors® released its “Profile of International Home Buyers in Florida 2012” today. The survey, conducted by the National Association of Realtors (NAR), found that almost one in five Florida sales in the 12-month period ending in June involved an out-of-country buyer.

Researchers say that the 2012 results closely resemble those in 2011. It’s based on a survey taken by over 1,500 members of Florida Realtors.

The international real estate market – defined as non-resident foreigners who buy residential real estate in the U.S. – is important to Florida. Nationwide, 51 percent of all foreign sales take place in only four states – Florida, California, Texas and Arizona. Of those four states, Florida has the largest share: 26 percent of national sales to foreign buyers closed in the Sunshine State.

Overall, 19 percent of Florida home sales (by dollar volume) went to foreign buyers.

Report highlights

• Nearly all international sales were cash – 82 percent of transactions.

• The median price paid by international buyers was $194,700 compared to an overall Florida median price of $125,100 and a U.S. median price of $167,758.

• Canadian buyers tended to buy in the lower price range; European and Latin American buyers bought at a higher price range.

• Foreign buyers see the U.S. residential housing market as a good value, thanks, in part, to favorable international exchange rates.

• In the 2012 survey, Canadians led the way as United Kingdom buyers faded a bit. Brazil and Venezuela have increased as sources.

• Condos account for 45 percent of properties, townhouses 10 percent and detached single-family homes 36 percent.

• 61 percent of surveyed Realtors said that they worked with an international client in the past 12 months, down from 77 percent.

Coldwell Banker's annouces the top Luxury agents in Florida

Hughes Shelton Realtors was recently recognized by Coldwell Banker Previews International as one of the top 30 agents in the state of Florida for Luxury Home sales.  Hughes Shelton Realtors was the number one real estate team for Hillsborough County, Florida in dollar volume and units sold.

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Downtown Tampa is Making Move into the Market...

What a noticeable difference downtown! Residents are really taking to the new condos, shops, restaurants and musuems.
See the article below for more:

http://www.tampabay.com/news/business/realestate/downtown-tampa-bustling-with-more-residents/1169758

Investment Properties and Second Home Sales stay steady in 2010

Second homes and investment property sales stay steady through 2010, and most are cash deals!
Buyers are in the market and ready to buy at the right price.

See the article below for more information:

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=257430