The number of foreclosures filed in South Florida has dropped 49% in May compared to a year ago. Filings fell 55% in the Fort Lauderdale real estate market and 36% in Palm Beach. Showing positive signs of recovery for the Fort Lauderdale real estate market and Broward County as a whole.

Foreclosures nationwide will remain at a high level, though they appear to be leveling off. The National May statistics are due out in mid June.

While lenders appear to be working with more borrowers including those in the Fort Lauderdale real estate market. Some analysts aren’t convinced the worst is over; more foreclosures could be in the pipeline. Banks are being careful not to release them to the market all at once to prevent another price collapse.


Voters turned down a tax for a new Broward County courthouse four years ago, but the county commissioners have approved the project anyway. For the next 30 years, anyone who pays sales tax in Broward County will be helping in the construction of a new courthouse.

County commissioners voted 6-3 to commit a half-cent of the existing 6 percent sales tax toward a new courthouse construction in downtown Fort Lauderdale, located on the south side of the New River.

All nine commissioners agree a new courthouse is needed. They disagree about how it should be paid for and when the courthouse should be built.

By their vote, commissioners divert the tax from its current use, for general services and projects and commit it to the construction of the new courthouse. Those opposed think that it could possibly force commissioners to raise property taxes to make up for the lost $230 million income that is currently going to general county coffers to use on practically anything, from buses to deputies.

The cost to each individual Broward County resident is difficult to calculate, because it’s a sales tax, not a property tax. But, in general it was estimated at about $8 a year for the typical resident.

The courthouse plan calls for demolition of the existing parking garage that’s adjacent to its west side. The new courthouse will be built there. Where the existing courthouse is located, a new parking garage with ground-floor retail will be built.

The expected cost for the new courthouse is $328 million, but the county already has the remainder of the money set aside, including $65 million from a proposed but never-built new jail.


South Florida homes and condos sold increased in February, while prices continued to fall due to foreclosures and short sales, according to the latest statistics from Florida Realtors.

Fort Lauderdale home sales increased 6%, to 530 in February from 500 in 2009. The Fort Lauderdale home median sales price fell 13%, to $186,700 from $214,400.

Single-family home sales increased the most – by 9% – in Miami, with 445 homes sold, up from 409 last year. The median sales price fell 2%, year-over-year, to $191,100 from $195,500.

In West Palm Beach, 560 single-family homes were sold in February, up 5% from 532 a year ago. The median price was $219,100, which is a 4% decrease from a year ago, when it was $228,100.

Existing home sales statewide increased 21%, with 11,890 homes sold in February, up from 9,867 a year ago.

Month after month, statewide existing home sales increased 13.6%.

More condos than homes sold in February, with West Palm Beach taking the lead in South Florida condo sales. In February, 698 condos sold there, up 45% from 483 a year ago. The median price slid 5%, to $96,700 from $101,900.

Fort Lauderdale condo sales followed, with a 41% increase to 819 from 581. The median price decreased by 17%, from $85,800 to $71,500.

Miami condo sales rose 35 percent, to 545 from 403. The median price fell 14 percent, to $126,100 from $146,100.

Statewide, existing condo sales rose 59 percent, to 5,085 from 3,190. The median price fell 15 percent, to $92,200 from $109,100 a year earlier.

Seventeen of Florida’s metropolitan areas reported increased existing home sales in January, while all but the Melbourne-Titusville-Palm Bay MSA reporting an increase in condo sales. A majority of the state’s MSAs have reported an increase in sales for twenty months consecutively.

Statewide median sales price for existing homes last month was $131,300, down 7% from $141,800 a year ago.

Nationwide, existing home sales 0.6% in February to a seasonally adjusted annual rate of 5.02 million, according to the National Association of Realtors.

Nationally median sales price for existing single-family homes in February was $163,600, down 0.4% from a year earlier, according to NAR.

Cabot Homes is predicting a surge in home sales this spring. Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb distressed properties reaching the market and to continually chip away at inventory levels.

Nationally housing inventory at the end of February rose 9.5%, to 3.59 million existing homes for sale, which represents an 8.6-month supply at the current sales pace, up from a 7.8-month supply in January.

Condos will never replace single-family homes as the real estate investment of choice overall.  A Single-family home will always have a wider appeal than a condo. A home will also almost always appreciate at a faster rate both nationally and in the Fort Lauderdale real estate market.

There are many advantages to owning your a single-family home. Privacy is one of the major advantages in owning a home over a condo.  Condo living is communal living where you will be sharing your living space with possibly hundreds of other people. It doesn’t matter how sound proof the building is your neighbors are still only a wall, floor or ceiling away. With a home you also will have the privacy of your own private home,  lawn and private driveway.  In addition a single-family home allows you to not have the constant interaction with other people in elevators and other common areas.

Both indoors and outdoors, you will have more space if you own a home.  When choosing a home over a condo you gain more room for things like entertaining guest, larger floorplans and storage space…  more space to make your own and call home and customize to fit your and your personality.  A garden you design and maintain, for example, can be a very rewarding experience. With a condo the association decides the exterior design and landscaping.

When you own a condo you may also be limited to what you can do as far as improvements to your investment. In most cases you will have to get permission from the association to make improvements. The condo building itself also plays a role in the overall value of your condo.  It doesn’t always make sense to make large investments on improvements if the value of your condo when the overall value is dependant on the condition of the building and the quality of the other units within the building.  If you have a really nice condo in a poorly maintained building improvements will not help your investment.

When you own a single-family home, however, improvements and investing into your home will only better your investment.  The more improvements you make the greater the value you add to your investment. You also get to the pleasure of living in an environment that only you have created. Home ownership on any level is wonderful. Nothing gives you a sense of pride like owning the place you live in. The Cabot Homes group will allow you to feel that sense of pride by finding you the perfect  South Florida home.

When it comes to ownership, there are some advantages to owning a condominium versus a single-family home in urban areas. It really comes down to which better fits your individual needs.

Even though the housing market as a whole has gone down, the biggest advantage of owning a condo over a Fort Lauderdale home is the price. Because you are buying a single unit from the building condos will typically cost less than a single-family home. When looking at Fort Lauderdale real estate you might be able to purchase a condo on or near the water for the same price or less than a house that is not as close the water. Fort Lauderdale condos were overbuilt during the last real estate boom, many now sit empty and prices have fallen.

Location can be another benefit of condo ownership. During the last housing boom for living as well as investing, many condo developers built on the most highly sought after property in Fort Lauderdale.

Clearly condo ownership is not for everyone.   The Cabot Homes Group can help you decide which is a better choice and best fits your individual needs.  Cabot Homes can aid in your decision with their knowledge of the different areas in Fort Lauderdale to find a place that suits you and your family.


The time hasn’t been better to buy a home in Fort Lauderdale! The team at Cabot Homes is here to help you find your dream home. The Worker, Homeownership and Business Assistance Act of 2009 can help you pay for it, with up to $8,000 in tax credits.  With the affordability of homes in South Florida combined with the government tax credit, your dream home is even more attainable! There is still time to take advantage of the tax credit however the deadline is April 30th.

  • The $8,000 tax credit is only available to first-time homebuyers.
    The law defines “first-time home buyer” as a person who has not owned a primary residence during the three-year period prior to the home purchase.
  • You do not have to repay this tax credit unless your home is sold or ceases to remain your primary residence for three years after the home is purchased.
  • The tax credit is equal to 10 percent of the purchase price of the home up to a maximum of $8,000. The price of the home also cannot exceed $800,000.
  • The tax credit now applies to homes sold on or after January 1, 2009 and on or before April 30, 2010.
  • However, if you have a binding sales contract that is signed before April 30, 2010, you will have until June 30, 2010 to close on the home purchase.
  • In the case of married couples, the law states that the homeownership history of both the you and your spouse is taken into account. If either of you have owned a primary residence in the last three years neither of you will qualify for the tax credit. There are also income limits as well.
  • To receive the full tax credit as a single person the limit is up to $125,000 and $225,000 for married couples that file a joint tax return.  If you earn more money than the limits you will not qualify for the full tax credit but can still qualify for a reduced tax credit.

Now is the time to buy a home in Fort Lauderdale and realize your dream of home ownership. Don’t miss this opportunity to receive the government tax credit to help purchase your Fort Lauderdale home. Turn to the Cabot Homes Group today to help you search the many Fort Lauderdale homes for sale to call home. The deadline is quickly approaching – April 30, 2010 for a sales contract to be signed, allowing you to close by the 30th of June.


Florida homes for sale in addition to across the country are experiencing an upward trend in home affordability, which is a great opportunity for people who are looking to buy homes in Fort Lauderdale as well as anywhere in Florida. Florida homes for sale specifically 43,125 have been sold in the second quarter alone. Which is an increase of almost 1,000 home sales in comparison to the previous year.

In the local markets existing South Florida home sales are taking an upward turn. In Miami home sales rose 73 percent, a big upward turn in the second quarter. West Palm Beach however has only experienced an eight percent increase. Cabot Homes Group is very pleased that Fort Lauderdale home sales have experienced an increase of 38 percent from last years second quarter. South Florida homes are overall doing very well for the second quarter in comparison to the year-ago second quarter.

While sales for South Florida Homes are on the rise median prices have fallen properties in Fort Lauderdale as well as Miami have both fallen 35 percent. Which is right on par with the statewide prices, which have fallen 38 percent from the previous year. With the decline prices down and tax credits for  home buyers, it has become an excellent time to buy a home.  The Cabot Homes Group currently boasts the highest listing volume in Remax partners in South Florida, providing the most options in your search for a first or new home.

When searching Fort Lauderdale real estate Cabot Homes is here to help you find your dream home.


The leaders of Fort Lauderdale real estate are pleased to announce the launching of our iPhone application. After hearing your requests for mobile connectivity, and in keeping with our commitment to meeting South Florida’s real estate needs, we now offer this service to you, our loyal customers!  The Cabot Homes Group iPhone application.

Now you can connect to Cabot Homes through your iPhone! Simply download the application from iTunes via the link at the bottom of our home page.  Get Application Now

Whether searching for you perfect new home, townhouse, condo, waterfront or luxury home, our new tool makes finding your dream home easier, from anywhere…

Our listings are mapped for ease of searching.  Narrow or expand your searching through the search filter. Interested in learning more on a property simply click on the property to learn more details such as price, bed/bath, description and photo gallery.

We hope you enjoy our latest tools in assisting your search for your dream Fort Lauderdale home. Whether your a first time home buyer or purchasing a second home, our new application will surely be an invaluable addition to our innovative home search tools.


Sales of existing homes in Broward County increased 31 percent in September from a year ago, the Florida Association of Realtors said Friday. The Cabot Homes Group is in tune with the evolving market and the tremendous opportunities present in the greater Fort Lauderdale area.

The Tax Credit has played a large role in this increase, however it is not just that… the cheaper home prices have been drawing buyers back to the market. Broward’s monthly sales have increased on an annual basis since July 2008, which are strong indications that prices have been falling enough to attract buyers. Broward’s median price in September was $200,000, down 23 percent from a year ago and 8 percent from August.

The existing condo markets also remained hot last month, as sales shot up. Broward County’s median price for a condo fell 40 percent from a year ago to $78,300 – the lowest since the Realtors’ group started releasing condo figures in 2006. Now is the best time to take advantage of the lower pricing and rates that only Fort Lauderdale’s premiere realty service group can obtain.

The Cabot Homes Group sees the demand with first-time home buyers and is guiding them first hand. The buyers are flooding the market, trying to get into homes before the tax credit expires Nov. 30. While it’s probably too late to start the buying process now and still qualify for the credit, some buyers who are pre-qualified for loans might be able to complete their sales in time, said real estate agents. Some would-be buyers are counting on Congress to extend the credit and increase it to $15,000, but that’s far from a sure thing.

The tax incentive has helped reduce the number of properties on the market. The numbers of homes and condos for sale in Broward County are down close to 30 percent from a year ago, according to the Keyes Co. Statewide sales increased 34 percent in September, while home sales rose 9.4 percent nationally.

Whether buying, selling or renting property rely on The Cabot Homes Group – the premier Fort Lauderdale real estate group.


The Cabot Homes Group is pleased to share the continued news of the housing market continued improvements. U.S. home prices in rose for the third straight month, surpassing forecasts and suggesting that the housing market is stabilizing after a three-year plunge.

The S&P/Case-Shiller composite index of house prices in 20 metropolitan areas including South Florida rose 1.6 percent, more than triple the estimate of a 0.5 percent rise.

A record stockpile of foreclosed homes have been exerting pressure on home prices overall, but recent home sales reports show an easing up of the massive unsold inventory.

A first-time buyer credit of $8,000, which ends on November 30, has jump-started housing activity this year. Turn to the Cabot Homes Group to help you take advantage of this credit before the deadline.

“The current increases continue to support the stabilization in local and national real estate values.” Cabot Edewaard.

When buying Fort Lauderdale real estate rely on the premier realty service group of Cabot Homes.


The U.S. housing market is rebounding faster than expected. The question is, can it last? Home re-sales in July posted the largest monthly increase in at least 10 years as first-time buyers rushed to take advantage of a tax credit that expires Nov. 30. Sales jumped 7.2 percent and beat expectations.

There are literally hundreds of homes perfect for the first-time homebuyer in Cabot Homes Groups inventory of homes in the South Florida Market.

Sales nationwide hit a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June. It was the fourth-straight monthly increase and the strongest month since August 2007. Sales had been expected to rise to an annual pace of 5 million, according to economists. A recent survey by Forbes showed the South Florida market to be one of the fastest growing. Cabot Homes Group has experts in the field and particularly in this market poised to help all homebuyers and especially first time homebuyers find the home that’s right for them.

The risks to that healthy pace, however, are job cuts, mortgage rates and the looming end to the homebuyer tax credit. And the last one could be a significant because first-time buyers are snapping up one out of every three homes.

First-time buyers get a credit of 10 percent of the purchase price of a home, up to $8,000. The credit phases out for singles earning more than $75,000 and couples earning more than $150,000. While it can be complicated, your Cabot Homes Group expert can help you make sense of the many programs available with an individualized experience designed to take advantage of every opportunity available for your particular circumstance.

Right now the real estate industry is lobbying to have the credit extended, however, its unclear if Congress will be swayed. If you’re a first time homebuyer let Cabot homes experts help you make this program and a part of your wise home buying investment before it goes away.

The home sales report was another sign that the U.S. economy is on the verge of a long-awaited recovery after enduring a brutal recession and the worst financial crisis since the Great Depression.

Sales of foreclosures and other distressed properties made up about a third of all transactions last month, down from nearly half earlier this year. In places like San Diego and Orlando, buyers are snapping up foreclosed properties at deep discounts, and inventories are low. Here in the South Florida real estate market there are still great values to be found. Cabot Homes Group has hundreds of homes selling at a value. Taking time now to talk to a Cabot Homes Group agent can result in you getting a great bargain for a property, which will be a home and an investment for you for years and years.

The inventory of unsold homes on the nationwide market rose to 4.1 million, from 3.8 million a month earlier as buyers who had held their homes off the market in the past decided to list them for sale. If you’re a seller sitting on the sidelines we at Cabot Homes Group believe now can be a good time to list, as inventories and, more importantly, home values are stabilizing and beginning to rise.