Shupe Dhawan would like to congratulate firm partner Neil Dhawan for participating in a 5K race on June 14, 2014! This was the first 5K ran by Neil as he works through his 2014 fitness goals! The race supported Triumph Crisis Recovery Centers which is located in South Florida and is committed to preventing violence by raising the level of community awareness regarding the pervasiveness and ill effects of domestic violence.
More information and donations can be made by visiting: http://www.triumphcrisisrecoverycenter.org/donate/.
Information on Shupe Dhawan’s other charitable involvement can be found at: http://www.shupedhawan.com/charity.html.
After possibly the worst home value depreciation in history and the resulting foreclosure crisis, South Florida homes have been appreciating at a surprising rate. Real estate values in South Florida have appreciated between 16-23% from 2010 to 2013. This appreciation has helped many homeowners who were considered underwater after the real estate crash breathe a sigh of relief. Homeowners now have regained their values prior to the crash and have an opportunity to sell their homes without resorting to short sales, and can even refinance properties to do much needed improvement and upgrades.
Multiple offers are the norm on properties in South Florida and an alarming 68% of buyers are cash buyers not utilizing any type of financing. These so called investors are drawn to South Florida for the sunny weather, tropical beaches, and real estate appreciation that has become the norm for the last three years. Furthermore, inventory in South Florida has been dwindling, pre-construction and new-construction cannot keep up with demand, and prices have been rising. This perfect storm has brought with it a sellers’ market.
However, some say that sales have begun to slow as sellers price expectations are not aligning with appraised values. These lower appraisals are forcing buyers and sellers to reach compromises which are not always feasible. I advise clients that a home’s true worth is what a buyer is willing to pay for it and compromise is needed on both the part of the buyer and seller.
Of course, do not wait too long if you are shopping around for your dream home! Now is a great time to buy so you don’t miss out on the upswing in home values and tax deductions available in owning a home. Shupe Dhawan is a full service law firm which can handle all aspects of a home purchase from contract negotiation, escrow services, buyer and seller title services and closings. We invite you to utilize our services so you can experience the Shupe Dhawan difference! Why hire just a title agent when you can hire a title attorney?
*Sources include CoreLogic Case-Schiller Indexes Report Fourth Quarter 2013 and the Sun Sentinal.