South Florida buyers scrambling with fewer homes for sale

If you wish to have the player instantiated only after the rest of the HTML is processed and the page load is complete, remove the line. Homes for Sale Broward had 14,932 properties for sale, a 36 percent decline from a year ago. Reducing the inventory is a key to stabilizing the market. Analysts expect more properties to be for sale in the weeks and months ahead as banks try to unload a wave of foreclosed homes. Posted by: Fine | August 24, 2011 10:12 AM Any word on the residential income property market. I heard more renters out there because of tighter underwriting and fear of sfh market. I'm looking to sell my home next spring/summer and hopw this trend continues. Posted by: Mike | August 24, 2011 11:25 AM Why would some fool get into a bidding war or be in a rush. Like the article states, expect more properties to be for sale in the weeks and months ahead as banks try to unload a wave of foreclosed homes. Posted by: runion | August 24, 2011 12:56 PM Thats funny I can't turn my head without seeing them everywhere I look. Posted by: johnny | August 24, 2011 1:08 PM I love how Sun-Sentinal plays with the title of the article like there is a shortage of housing. Could it be to appease it's large number of Real Estate / Mortgage advertisers. Better apply for that mortgage and get that bid on that overvalued property before it's gone. Posted by: Pitted151 | August 24, 2011 1:18 PM There are a lot of homes (a LOT = thousands) that are in pending foreclosure status. They were put into limbo after the rubber stamping and allegedly illegal processing of foreclosure documents earlier this year. When those homes are free to be sold again there will be a buyers market and prices will likely drop further. This was reported in the news so I'm a little surprised that it's not mentioned as a reason in the article. I sold my home in 2006 and have been enjoying renting ever since. I thought it may be time to get back in, so I put in an offer on a home and was the only bid. The problem is not fewer homes, it's the appraisals coming in too low (probably realistic). I'm not falling for the tricks that are being played to try and pump up this market. Posted by: Alain | August 24, 2011 2:21 PM Less Homes for Sale because more are in foreclosure. Posted by: Puckbubba | August 24, 2011 2:52 PM The shawdow inventory is so huge it makes the previous one look like a baby. Banks are literally holding on to title to many homes. In some cases banks are even renting the homes and not offering them for sale. It is foolish and irresponsible to use listing data as your only means to form an opinion on the real estate market. Banks sell to investors for 60-73% of today value, while owner occupants are seeing deals of 90-97 % of today's value. Prime real estate is usually water front or in upscale communities where values have drop by 50% or more. Like the 700-900K Mc mansion or condo now goin for 250-350K deals are experiencing some competition in prime neighborhoods in certain cities like wellington, coral springs, parkland, miramar, las olas, miami beach and biscayne. The west suburbs & east part towards the beach are not staying on the market for long. Posted by: JerryT | August 24, 2011 3:20 PM Pitted 151---Most likely another disgruntled renter that hasn't saved squat to buy a home yet. Do not use profanity, ethnic or racial slurs, or take shots at anyone's sexual orientation or religion. If you can't be nice, we reserve the right to remove your material and ban users who violate our Terms of Service. Post a comment (If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. He covers the housing market for the Sun Sentinel after spending seven years on the real estate beat for that daily paper just up the road. The real wrath came in early 2006, from readers, when he wrote that the five-year housing boom was over. They argued, cursed and complained before grudgingly admitting he was right. Julie earned a master's degree in communications at Stanford University and a bachelor's degree at the University of Chicago. She enjoys dancing, painting, cooking and roller skating. Buyers scrambling with fewer homes for sale Who will lead the state agency that regulates your utility service and rates. E-mail newslettersGet the news that matters to you delivered to your inbox. Breaking news, hurricane alerts, news from your neighborhood, and more.