Two realtor associations merge

Realtor Association Announces Merger

Uniting as one:
A merger has taken place between The Realtor Association of the Palm Beaches and the Greater Fort Lauderdale Realtors Association. A vote was held this week to unite the two associations together. United they are going to be called the Realtors of the Palm Beaches and Greater Fort Lauderdale.  The merger was received  “with a 99% pass and had record. number of members turn out to vote in support of the merger.” Members who were unable to attend the meeting were able to vote by proxy. This is a very exciting time for both boards in Palm Beach and Fort Lauderdale.

Size Matters:
Once this is  complete,  the Realtors of the Palm Beaches and Greater Fort Lauderdale will be the third largest realtor association in the country. It will also be one of the largest MLS systems in the country. Together it will have 25,000 realtor members, 30,000 MLS subscribers and over 40,000 online listings.

Benefits of the Association Merger:
Here are a few of the key points as a result of the mergers between the two associations. With it’s vast membership with the combined associations will have huge legislative power. The association now will be the voice to be heard and not ignored. In addition the members will benefit by the extraordinary purchasing power. This is something that a smaller association can not leverage.

The most exciting part for the individual realtor is that the MLS information. The information is feed into an IDX system which powers individual websites. Going forward it will include property listing from Western Broward  County,  South Palm Beach, North Palm Beach and up to the the Treasure Coast.

For more information visit:  the Greater Fort Lauderdale Realtors Association website at www.r-world.com.

For more information contact:
Paul Slutsky, PA
Re/Max Experience
954-560-8330
www.paulsellshomes.com
paul@paulsellshomes.com

 

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South Florida Housing Market Statistics

Metrostudy’s 4Q14 survey of the South Florida housing market shows that quarterly starts decreased by 16% from 3Q14 to 1,691, but are up 19% from 4Q13. The annual pace increased 6.4% to 7,334 from the annual starts rate observed in the fourth quarter of 2013. This marks two consecutive quarters of measurable annual starts growth. Lot shortages in Palm Beach, Broward, and Miami-Dade are likely to have a dampening effect on the starts rate in the near term, however.

The annual closings rate of 6,852 was up 18% from the previous quarter and is up 21% from one year ago, which extends this upward trend to eleven consecutive quarters. Finished, vacant inventory increased 6% to 1,310 units from last quarter, and this figure is 12% higher than the fourth quarter of 2013. Finished, vacant inventory has hovered in the 2 months-of-supply (MOS) range for the past nine quarters, and remains unchanged at 2.3 MOS for the current quarter. Metrostudy has observed over the years that when this number rises above about 3.0 and stays there, builders tend to reduce prices or make concessions, so Metrostudy monitors this metric closely.

When it comes to rentals, South Florida apartment rentals are currently increasing faster than most of the country’s biggest metro areas. In the third quarter of 2014, Palm Beach rent rose 5.3% from the same time in 2013, placing the county ninth among the 50 biggest metro areas, according to MDF Research. During the same period, Broward rents grew 4.4%, a 13th nationally. What caused this increase in rentals? The housing bust created growth in apartment rentals due to the fact that owners began renting out units in large numbers. Rentals are also extremely popular for the growing millennial market.