Jamie Seneca-North Springs-September 2020

RE/MAX Advisors 9615 Westview Drive Coral Springs, FL 33076

Each office Independently owned and operated.

NORTH SPRINGS

JAMIE SENECA REALTOR® and North Springs Neighbor

954.647.9682

R E A L E S TAT E M A R K E T R E P O RT

Jamie@JamieSeneca.com www.HomesInNorthSprings.com Let’s Connect

Visit www.HomesInNorthSprings.com for current market activity, community information, and more.

DON’T JUST LIST YOUR HOME

EXPERIENCE RECORD SUCCESS WITH JAMIE! Sold Within 72 Hours with Multiple Offers for $51,000 Over Asking!

Video Tour: vimeo.com/432865297 6441 NW 42nd Court | Sold for $576,000 4 Beds | 2.0 Baths | 2,310 Square Feet

SEPTEMBER 2020

#1 REAL ESTATE TEAM AGAIN IN BROOKSIDE, YARDLEY ESTATES AND NORTH SPRINGS FOR 2019 HOMES SOLD!

Under Contract Within 72 Hours with Multiple Offers!

Video Tour: vimeo.com/440669164 4607 NW 98th Lane | Offered at $525,000 4 Beds | 2.0 Baths | 2,336 Square Feet

WWW.HOMESINNORTHSPRINGS.COM PRE SE NT E D BY

“Professional, responsive, personable, and will go the extra mile for her clients. Our home sold fast, and we bought our new one with her at the same time! Thanks, Jamie!”

- 5-Star Zillow Review Jonathan-Thomas and Angela-Marie, With interest rates remaining low and home prices increasing at a healthy pace, homes in North Springs are in high demand. Your real estate opportunity is here! If you or someone you know is considering buying or selling, call me today at 954.647.9682.

Jamie Seneca

Your North Springs Neighbor and Real Estate Specialist

RANKED IN THE TOP 1% OF REALTORS IN SOUTH FLORIDA! PRE PA RE D E SPE CI A LLY F OR

Jonathan-Thomas and Angela-Marie Washington

JAMIE SENECA

NORTH SPRINGS

REALTOR® and North Springs Neighbor

954.647.9682

REAL ESTATE MARKET REPORT

Jamie@JamieSeneca.com www.HomesInNorthSprings.com

$

Ranked in the Top 1% of Realtors in South Florida!

Let’s Connect

Living, Loving, and Promoting our Community’s Value for Over 10 Years!

COMPARING 2020 TO 2008

Jonathan-Thomas and Angela-Marie, The demand for your community is high! Please call me at 954.647.9682 to discuss how I can help you maximize the selling potential of your home.

TAKE ADVANTAGE OF THE

SELLER’S MARKET

1

ACTIVE HOME IN YOUR AREA!

1

7

0

ACTIVE LISTING

ACTIVE UNDER CONTRACT

PENDING SALES

ARE THEY DIFFERENT?

COVID-19 has had a large effect on the economy – so much so that you might have heard talks of our country entering another recession. Due to the severity of the 2008 financial crisis and the ensuing recession, the term stirs up a lot of emotions for many, especially when it comes to the real estate market.

Inventory and Appreciation

Annual Home Price Appreciation

In the years leading up to the housing market crash, home price appreciation (the increase in value of houses) was out of control. Homes simply became too expensive for buyers to afford, which became a contributing factor to the crash.

The price of homes is still high today, but it’s risen at a more stable level. Inventory is at a low in most markets, causing a surge in demand.

Then...

Source: Freddie Mac

11.4%

8.5% 8.7%

8.6% 6.5%

4.4%

5.2% 5.5%

6.4% 4.8% 4.7%

The 6 Years Leading up to The Housing Crash

The Last 6 Years

2000 2001 2002 2003 2004 2005

2014 2015 2016 2017 2018 2019

Use of Home Equity

Total Home Equity Cashed Out

by Refinance in Billions

12.5%

Source: Black Knight

Now...

Year

Dollars

Year

Dollars

2005

$263B

2017

$71B

2006

$321B

2018

$87B

2007

$240B

2019

$89B

Total

$824B

Total

$247B

Prior to the housing crisis, many homeowners were using cash-out refinances to supplement their cash flow, meaning they were tapping into their home’s equity as soon as it built up enough rather than letting it grow and build their overall wealth.

13 HOMES SOLD IN THE LAST 6 MONTHS IN NORTH SPRINGS STATUS Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold

ADDRESS

BEDS

BATHS

EST. SQ.FT.*

LIST PRICE

SOLD PRICE

SOLD DATE

SUBDIVISION

9957 NW 47th Street 4629 NW 99th Terrace 5099 NW 98th Lane 9797 North Springs Way 4728 NW 98th Lane 5055 NW 100th Terrace 4877 NW 96th Drive 5065 NW 96th Way 5255 N Springs Way 9777 N Springs Way 5037 NW 95th Drive 4614 NW 99th Lane 9800 NW 47th Drive

4 4 4 4 4 4 3 4 4 4 3 4 4

2.1 2.0 2.1 3.0 2.1 2.2 2.1 3.0 2.1 3.0 2.0 2.0 3.0

2,200 2,200 2,600 N/A 2,400 2,700 3,500 2,500 2,200 3,400 1,800 2,300 2,600

$519,900 $445,000 $534,900 $525,000 $489,900 $525,000 $499,999 $475,000 $459,000 $588,888 $379,900 $489,999 $419,900

$509,000 $445,000 $539,900 $535,000 $472,000 $525,000 $485,000 $467,000 $442,500 $550,000 $370,000 $480,000 $395,000

02/24/20 04/01/20 07/20/20 06/30/20 06/26/20 06/23/20 06/09/20 06/03/20 05/01/20 04/24/20 02/21/20 05/28/20 02/28/20

Brookside Brookside Court North Springs North Springs North Springs North Springs North Springs North Springs North Springs North Springs North Springs North Springs Court North Springs Court

Jamie Seneca and RE/MAX Advisors are not in any way affiliated with North Springs Owners Association, nor is this in any way an official advertisement or publication of North Springs. © 2020 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the GFLR between February 6th, 2020 through August 6th, 2020. Listings and sales may not be those of RE/MAX Advisors. The GFLR does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Estimated square feet rounded down to the nearest hundred.

Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2020

This put many homeowners in a negative equity position when the housing bubble burst; they owed more on their home than it was actually worth.

Jonathan-Thomas and Angela-Marie, Now is a great time to sell your home! Interest rates are still extremely low, and I employ a number of ways to keep the selling process safe. If you’re ready to talk about these unique opportunities, call me today at 654.647.9682.

Source: www.watersongmortgage.com

15 years and over 2,500 closed loans in South Florida

Ryan Brandenburger - Branch Manager

Paul D. Mandel - Attorney At Law

Direct: 561.717.2100 | Mobile: 954.394.9005

p: 954.344.8420 | f: 954.344.8852

Fax: 561.717.0778 RB@myccmortgage.com

pmandel@capitalabstract.com | www.CapitalAbstract.com

www.ThePurchasePowerTeam.com

CORAL SPRINGS OFFICE: CORPORATE HEADQUARTERS 10101 W. Sample Road | Coral Springs, FL 33065

NMLS 358278