So lets take a look at some Real Estate facts !

Check out this chart to see the national housing price statistics from 2007 through September 2011, which only goes to reinforce my belief that the housing market is getting better. Data from housingtracker.net

Year	Monthly Time Frame	% monthly home price decline from start to finish	National Monthly Trend of Home Prices	Yearly home price trend	Rate Year
2007	4/07-12/07	-2.7% to -7.2%	Each month decline worse then the previous month decline	From poor to bad	-
2008	1/08-12/08	-7.5% to -  11.4$	Each month decline worse then the previous month decline	From bad to worse	-
2009	1/09-12/09	-11.5% to -5.6%	Each month decline was less then the previous decline	From worse to bad	+/-
2010	1/10-12/10	-5.8% to -7.8%	Each month decline worse then the previous month decline	From bad to worse	-
2011	1/11-9/11	-8.7% to -1.7%	Each month decline is less then  the previous decline and the smallest declines to date	From bad to much better	+

Update: 11/2- October home prices have come in and the positive trend continues, with October price decline at only -.09% which is the lowest decline to date, the housing bottom may be in site :)

As you can see from this chart, on a national level home price declines have definitely turned a corner at the start of 2011, home prices declines dramatically slowed and show a month on month positive trend.

According to the seasonally adjusted Case Shiller 20 city housing index it appears that in 2011 there was less then a 1% variation in home prices and had not made a new low in the last four reported months. Since there is a few months time lag in these reports we wont know if this positive trend will continue and or hold, in any case based on the information we do have the housing market appears to be finding a bottom.  
Stats courtesy of  Standardandpoors.com

Whats happening in out local market?

From a 10/29/11 Palm Beach Post article in the Money section it was pointed out that the supply of homes for purchase was down 39% in September from the same time last year. For sale inventory is down almost 200% from the 2007 high, so its clear homes are selling and at an accelerated pace. While home sales have definitely picked up the price of homes has not, this is a result of the foreclosures and short sales on the market. However this distress market seems to be getting short on inventory, at least locally because these properties are getting multiple offers and the prices have been bid up above the asking. No matter how you look at it, this its a very good sign, and soon the principle of "supply and demand" will once again drive market prices in the right direction, UP!

Its should not be forgotten that of all the sales that take place only about 40% represent distress sales the remaining 60% are normal resale transactions. So dont think for a minute that our housing market is moribund because its not. Those homes priced fairly based on current market value are the first ones to go, homes priced above market will languish and garner few if any serious offers. 

If you want to sell a home in today's market you have to be ready to accept what the current market value of your home is today! Which might be better then you think, you just have to do your homework to find out!

Introduction

This blog will discuss the general condition of Florida's real estate market, as it relates to new home sales, re-sales, short sales, foreclosures and financing but it will primarily focus on these for the South East area and more specifically the  Palm Beach County markets. Which as of late has been one of the markets showing signs of stabilization, sales have seemed to be leveling off for the past few months with prices still falling but at a slower rate.

In any event I will try to keep this blog as up to date as possible, my goal is to add at least one new post each week or more often as time and or news events permit. I would encourage any readers to participate and help by providing links to relevant online articles, newspaper publications, videos or radio broadcasts.

Florida's real estate market has been severely damaged by our current economic recession but its on the mend but not without great financial as well as mental strain on its home owners. There is no one magic bullet that we can look to for salvation, this will only come through the realization that the market has changed and so buyers and sellers need to change and adjust to fit these new times. Only through the knowledge, education and understanding of your local real estate market will you be able to do this, which in the end is my goal.