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1. Clean and disinfect your home thoroughly. Finish up any DIY jobs and work on your homes curb appeal. 

2. Reschedule any in-person open houses, ask your Realtor and schedule an online open house. to create a video tour

3. Use teleconferencing and e-signing programs to negotiate contracts. 

4. Be flexible. Know that your closing dates could shift, so be sure to account for potential delays.

5. Don’t panic. People have more time now to house-hunt, and everyone needs a place to call home. When the stay-at-home order is lifted, you’ll be ready. 

Sources: Forbes, USA Today

Reprinted with permission Florida Realtors. All rights reserved. 

HUD 2021 Housing Market Conditions Summary for Broward County Florida

The home sales market in Broward County is currently balanced. The number of homes sold totaled 45,250 during the 12 months ending (12ME) April 2021, a 9-percent increase from 41,400 homes during the previous 12 months (Zonda). The average sales price in Broward County increased 19 percent to $397,200 during the 12ME April 2021. Based on preliminary monthly data, single-family home, townhome, and condominium construction, as measured by the number of units permitted, totaled 900 homes during the 12ME April 2021, a 24-percent decrease from 1,200 homes during 12ME April 2020. The number of single-family homes permitted decreased to 1,475 homes, or 5 percent, permitted during the 12ME April 2021 compared to a year earlier. The homeownership rate is estimated at 62.0 percent as of May 2021, down from 66.6 percent as of April 2010. Overall rental market conditions, including single-family homes and other rental units, in Broward County are currently balanced with an estimated vacancy rate of 7.4 percent. The apartment market in Broward County is currently balanced, with vacancy rates averaging 4.3 percent as of the first quarter of 2021, up from 4.0 percent a year earlier (RealPage, Inc.). Average rent in Broward County was $1,701, a 4-percent increase from a year earlier. Multifamily construction “excluding condominium units” in Broward County increased to an average 5,025 units from 2019 through 2020, from the average 4,825 rental units from 2015 through 2018.


HUD 2021 Housing Market Conditions Summary for Palm Beach County Florida

The home sales market in Palm Beach County is balanced with an estimated vacancy rate of 1.2%. The number of new homes sold totaled 2,400 during the 12 months ending (12ME) April 2021, an 8% decrease from 2,600 homes during the previous 12 months (Zonda). The average sales price decreased 13% to $688,000. Based on preliminary data, single-family home construction, as measured by the number of homes permitted, totaled 4,525 homes during the 12ME April 2021, a 33% increase from 3,400 homes during the previous 12 months. The percentage of home loans in the metropolitan division that were seriously delinquent (90 or more days delinquent or in foreclosure) or had transitioned into real estate owned (REO) status was 4.9 percent in March 2021, up from 1.3 percent a year earlier. The apartment market in the county is balanced. The apartment vacancy rate in the county was approximately 5% in the first quarter 2021, up slightly from a year ago. The average asking rent was approximately $1,575, down 3% from a year ago. There are approximately 2,475 multifamily units under construction as of May 1, 2021, a decrease of 36% from a year earlier. The number of new multifamily units increased significantly from a decade-low of 1,525 in 2017 to a decade high of 4,850 in 2019. By comparison, an average of 630 units were permitted a year from 2007 through 2010.


HUD 2021 Housing Market Conditions Summary for Miami-Dade County Florida

The home sales market in Miami-Dade County is currently balanced. The number of homes sold totaled 41,500 during the 12 months ending (12ME) April 2021, a 2-percent increase from 40,500 homes during the previous 12 months (Zonda). The average sales price in Miami-Dade County increased 18 percent to $548,300 during the 12ME April 2021. Homebuilding activity, as measured by the number of single-family, townhomes, and condominiums permitted, increased by 120 homes, or 3 percent, from a year earlier, to 3,950 homes permitted during the 12 months ending April 2021. The homeownership rate is estimated at 48.7 percent as of May 2021, down from 55.8 percent as of April 2010. Overall rental market conditions, including single-family homes and other rental units, in Miami-Dade County are currently balanced with an estimated vacancy rate of 5.2 percent. The apartment market in Miami-Dade County is currently balanced. The apartment market had an average vacancy rate of 4.1 percent, an increase from 3.5 percent during the same period a year ago (RealPage, Inc.). The average apartment rent increased slightly to $1,714 during the first quarter of 2021. Rental construction activity in Miami-Dade County, as measured by the number of rental units permitted, has trended upwards since 2012 and increased 69 percent in 2020 to 13,600 units in response to slightly tight market conditions.


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2019 Mid-Year Realty Blockchain Update

Realty Central

The steady progress being made in the implementation of blockchain and distributed ledger technology within various industries has gotten the attention of lawmakers and regulators with a multitude of bills coming up for votes this year. 

The State of Washington 2019 Senate Bill 5638: Recognizing the validity of distributed ledger technology was introduced by Sen. Sharon Brown on 1/25/19 and signed into law by Gov. Jay Inslee on 4/26/19 with the official text of ’An electronic record may not be denied legal effect, validity, or enforceability solely because it is generated, communicated, received, or stored using distributed ledger technology’.   In, addition the Act sets out the intent of the legislature to ‘encourage the development of distributed ledger technology ‘ and legally defines ‘Blockchain’, ‘Distributed ledger technology’ and ‘Electronic record’.  Kudos to Washington State.

Other States getting ahead of the game include the State of Ohio’s 133rd General Assembly, where Rep. Rick Carfanga introduced on 4/24/19 a House Bill 220 for a revised code to allow a governmental entity to utilize distributed ledger technology, including blockchain; and the State of Tennessee with Gov. Bill Haslam signing Senate Bill 1662 on 3/22/18 amending Tennessee Code relative to electronic transactions with the official text of ‘Business and Commerce – As enacted, recognizes the legal authority to use distributed ledger technology and smart contracts in conducting electronic transactions; protects ownership rights of certain information secured by distriIbuted ledger technology. – Amends TCA Title 12; Title 47; Title 48; Title 61 and Title 66’.  Nice going Tennessee – leading the way for innovation.

Not to be left out, European Governments are busy with the Italian Senate approving a bill defining distributed ledger technologies on 1/23/19 and the House of Representatives following suit with approval in February; the Luxembourg Chamber of Deputies passed Bill 7363 on 2/14/19 providing a legal framework for securities issued over blockchains.

Trading and Lending on the Blockchain

Turning Real Estate into a digital asset that is easily traded is the dream of many with a recent venture of Intercontinental Exchange called Bakkt bringing that dream a step closer to reality.  Bakkt is making great strides towards securitizing tokens and bringing institutional financial exchange power to the cryptocurrency market. With lofty goals of offering a federally regulated market for bitcoin, this is a player to watch.

Depository Trust and Clearing Corporation in New York City, a company that operates as a third party in the business of securities trading, has plans to begin recording $11 trillion worth of credit default swaps in late 2018.

Fund manager Mark Yusko, chief executive and chief investment officer of Morgan Creek Capital Management, recently announced his firm’s partnership with Bitwise, a manager that offers cryptocurrency indexes and index funds, to launch the Digital Asset Index Fund. The fund’s minimum investment is $50,000. It tracks a new index: the Morgan Creek Bitwise Digital Asset Index (MCBDAI).

Decentralized Margin Trading and Lending platforms utilizing blockchain tech are starting to make entrances into the market with offerings from the bZx and MakerDAO communities already generating buzz.

Smart Contracts on the Distributed Ledger


Enabling real estate related smart contracts utilizing a blockchain will change the nature of escrow, contracts, title, deeds and other property records lessening the reliance on traditional closing services and hopefully provide needed monetary relief at the closing table.  A daunting task indeed. Thankfully, the challenge has been taken up by several players in the emerging distributed ledger tech field with new entrants seeming to pop up every other week.

An interesting use case was featured in a recent story on about a New York based company doing real estate commission splits utilizing the smart contract platform. Baby steps, but promising.

Another exciting player in the realty blockchain business is PROPY with their offering of international properties being purchased and sold integrating blockchain tech to secure the transaction and facilitate cross-border payments.

How to Buy Cryptocurrency

We recommend Coinbase for your first foray into a Cryptocurrency Exchange with the added bonus and caveat that they have an affiliate link offering free bitcoin to both parties for referrals.  Our first trades on their platform went smoothly and the smartphone apps they offer are easy to use and navigate. At the time of this writing, Coinbase had 5 different cryptocurrencies trading that included Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin with rumors of more alt coins coming to the platform soon. To get started trading requires linking a bank account or debit card.  Not all financial institutions are keen on losing customers to cryptocurrency and some have been known to shut user accounts and deny access to crypto-exchanges. To avoid this, we decided to set up a fee free online banking account with the added benefit of lowering some transaction fees that come with moving money around. After looking at our options, we chose online banker SIMPLE due to many factors including no fees, ATM access and their easy to use Mobile Apps; they also offer a $20 referral to both parties for the first purchase made on their debit card.  One more service we are in the process of evaluating is the Robinhood investment platform that is now offering trading in cryptocurrencies. In addition to offering a free stock for signups on referral, they have a sleek looking smartphone app that makes investing in stocks and cryptocurrency seem less intimidating somehow.


 Exploring Proptech, Artificial Intelligence and Blockchain Technologies for Real Estate Applications.

How does AI and Blockchain apply to Real Estate you might ask?  After an in-depth look at the emerging technologies surrounding machine learning and distributed ledger solutions, the short answer is it has the potential to lower costs, shorten timeframes and streamline a market that has many built in inefficiencies.   From international transaction settlements to title issues, predictive and blockchain related services aim to revolutionize the process of buying and selling real estate to the advantage of businesses and consumers alike in an industry that has been historically protective of it’s entitled stakeholders.

An interesting Real Estate Blockchain service out of Switzerland called BrikBit is busy defining an ecosystem for Real Estate Digital Assets utilizing the Lisk Platform to enable Real Estate Projects to create their own blockchain as a BrikBit sidechain.   An upcoming October ICO for their BRIK token will help gauge the current market sentiment for this cutting edge tech.

On the leading edge of utilizing Artificial Intelligence for the Commercial Real Estate Industry is Skyline AI and its innovative group of Engineers and Data Science pros who are hard at work integrating traditional and alternative data sources to streamline the Investment Decision process with data driven objective insights.  Whew – didn’t think I would get all that out.  What a challenge.  

Helping to further the goal of Real Estate on the Blockchain, we give props to the International Blockchain Real Estate Association for their sponsored events and extensive resource of videos from prior conferences. Thanks IBREA.