ORLANDO, Fla. – May 24, 2010 – Sales of existing homes in Florida rose 27 percent in April, which means that sales activity has increased in the year-to-year comparison for 20 months, according to the latest housing data released by Florida Realtors ® . Another positive sign: Last month's statewide existing-home median price of $140,100 was 1 percent higher than the statewide median price in April 2009. Existing home sales rose 27 percent last month with a total of 16,781 homes sold statewide compared to 13,244 homes sold in April 2009, according to Florida Realtors. Statewide existing home sales last month increased nearly 3 percent over statewide sales activity in March. Meanwhile, April's statewide existing-home median price was 2.3 percent higher than March's statewide existing-home median price of $137,000. It marks the second month in a row that the statewide existing-home median price has increased over the previous month's median. "Buyers ...

Property sales in April in the Sarasota market hit the highest total in almost five years, while pending sales were the highest in four years, likely fueled by the expiration of the homebuyer tax credit on April 30. Median sale prices continued the steady pace reflected in recent months. The 757 sales exceeded the March 2010 total of 753. It was the highest total since December 2005 and 50 percent higher than April 2009. Pending sales were once again strong, hitting 1,160 – better than March 2010’s total of 1,060. It was the highest total in the past four years. “There was clearly a sense of urgency in April, reflected in higher closed sales as well as contracts written, as buyers attempted to purchase properties before the expiration of the homebuyer tax credits,” said 2010 SAR President Erick Shumway. “There is a lot of enthusiasm and optimism among local real estate agents that the trend will sustain in the months to come.” Members of the Sarasota Association of Re...

You want to buy a foreclosure ? Remember, there are both great opportunities and great pressures and pitfalls in this market. First, you have to decide at what stage of foreclosure you want to buy. There are three options: 1. pre-foreclosure; 2. sheriff's auction; 3. repossession , called REO (for real estate owned by the bank). The safest and best way to buy is when it's a bank-owned property," said Rick Sharga, a spokesman for RealtyTrac , the online marketer of foreclosure properties. Pre-foreclosure: These homes are in the foreclosure process, but they have yet to be sent to auction. Owners are typically trying to unload them because they are "underwater," owing more on the homes than they are worth. As a result, potential buyers must negotiate a deal with the lender as well as the owner. That makes buying at this stage of foreclosure complicated and slow. But, you have the advantage of being able to inspect the home before purchase -- which isn't the ca...