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Pinellas International Council 6th Annual Global Symposium-Thank you to David Bennett CEO of PRO, John-Paul Mario Chair of the PRO Business Affiliates, Susan Inez-Poskus CPA from Roberge Poskus, Maria Grulich from Florida Realtors, Bill Risser, VP of Digital Strategy from Fidelity National Title, Don Gonzalez Attorney, Carlos Fuentes NAR instructor, the nearly 100 attendees and all of the PRO Affiliates who sponsored this informative event. Thank you all for making this such great day!!

 

According to CoreLogic, cash home sales in the U.S. accounted for 31.8 percent of total home sales in October 2016, down 2.7 percentage points year over year from October 2015. The cash sales share peaked in January 2011 when cash transactions accounted for 46.6 percent of total home sales nationally. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25 percent. If the cash sales share continues to fall at the same rate it did in October 2016, the share should hit 25 percent by mid-2018.

Fast FAQS

  • The national cash sales share was 31.8 percent in October 2016
  • The national distressed sales share fell 2.9 percentage points year over year from October 2015
  • The national distressed sales share fell in all but eight states

Real estate owned (REO) sales had the largest cash sales share in October 2016 at 59.2 percent. Resales had the next highest cash sales share at 31.7 percent, followed by short sales at 30.2 percent and newly constructed homes at 15.9 percent. While the percentage of REO sales within the all-cash category remained high, REO transactions have declined since peaking in January 2011.

National distressed sales share of total home sales, of which REO sales made up 5 percent and short sales made up 2.6 percent in October 2016. The distressed sales share of 7.7 percent in October 2016 was the lowest distressed sales share for any month since October 2007. At its peak in January 2009, distressed sales totaled 32.4 percent of all sales with REO sales representing 27.9 percent of that share. The pre-crisis share of distressed sales was traditionally about 2 percent. If the current year-over-year decrease in the distressed sales share continues, it will reach that “normal” 2-percent mark in mid-2018.

All but eight states recorded lower distressed sales shares in October 2016 compared with a year earlier. Maryland had the largest share of distressed sales of any state at 18.6 percent in October 2016, followed by Connecticut (18.3 percent), Michigan (17 percent), New Jersey (15.8 percent) and Illinois (14.7 percent). North Dakota had the smallest distressed sales share at 2.7 percent. While some states stand out as having high distressed sales shares, only North Dakota and the District of Columbia are close to their pre-crisis levels (each within one percentage point).

Alabama had the largest cash sales share of any state at 47.5 percent, followed by New York (44.5 percent), Indiana (41.8 percent), Florida (41.5 percent) and Missouri (38.8 percent).

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from  http://www.worldpropertyjournal.com/   By Michael Gerrity

 

Get your flip-flops ready!! Jimmy Buffet has partnered with Minto Communities to create a community for people 55-and-older in Daytona Beach, Florida which promises to “reflect the lifestyle embraced in Buffet’s songs”.

Jimmy Buffet retirement community

MINTO COMMUNITIES + GETTY photo

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Say what? Get your limes & salt shakers out.

The 6,900-home community  says it will be tropical & fun.The plans include a pool with cabanas instead of a central park & statue like most towns. Music, food,  beverages, an onsite fitness center, indoor lap pool, spa and an outdoor resort-style pool will be the core of this development.

William Bullock, a senior vice president with Minto, told The Daytona Beach News-Journal: “You never know when or where Jimmy Buffett may show up to do a concert. The concept for the community is Margaritaville equals fun,” Bullock said. “Having fun, socializing, enjoying the lifestyle because you’ve earned it, you’ve been waiting your whole life for it and now you’ll be able to celebrate it with food, fun and music.”

The first phase of the Latitude Margaritaville, Daytona Beach, homes are expected to be ready to move into by fall 2018. They’ll feature Old Florida and Key West architectural styles and range in price form the low $200,000s to the mid-$300,000s. They are also going to have some live broadcasts, artists unknown at this time, from there on their SiriusXM Channel.

for more info see    http://www.news-journalonline.com/news/20170216/jimmy-buffett-community-coming-to-daytona

Only ethnic demographic to increase homeownership rate

house key background

The homeownership rate for Hispanics increased in 2016, contrary to other ethnic groups, who all saw a decrease in homeownership.

from http://www.housingwire.com/articles/39132?sf55059658=1

The homeownership rate among Hispanics increased to 46% in 2016, up from 45.6% the year before, according to a report from the National Association of Hispanic Real Estate Professionals. Data from the U.S. Census Bureau shows the overall homeownership rate dropped from 63.7% in 2015 to 63.4% in 2016. At the same time, the African-American rate also dipped from 43% to 42.2% and the Asian-American rate dropped from 56.5% to 55.5%.

Hispanics were the only ethnic demographic with an increase in their homeownership rate. Hispanics also led the nation in household formations with a net increase of 330,000 households in 2016.

The overall homeownership rate in the U.S. is currently hovering at the lowest level in 50 years. Hispanics broke the trend due to their high workforce participation rate, according to NAHREP’s report.

Also helping advance the growth is the increase of Hispanic entrepreneurs in mortgage banking and the real estate brokerage business.

“With credit remaining tight and limited housing inventory in several markets, these numbers are extremely encouraging and a testament to the economic resilience of the Hispanic community,” 2016 NAHREP President Joseph Nery said. “As the mortgage industry continues to recognize the exceptional opportunities in serving the Hispanic market and adjusts accordingly, we expect these numbers to only improve.”

http://www.housingwire.com/articles/39132?sf55059658=1  Kelsey Ramírez

WASHINGTON – Feb. 15, 2017 – Federal Reserve Chair Janet Yellen told Congress on Tuesday that an interest rate hike in March remains on the table, pushing back against market expectations that the Fed will stand pat.

http://www.floridarealtors.org/NewsAndEvents/

“Precisely when we take an action – March, May or June – I can’t tell you,” Yellen told the Senate Banking Committee. “I would say every meeting is live.”

Fed fund futures say there’s just an 18 percent chance of a rate increase in March vs. about 50 percent in June. The Fed raised its benchmark rate by a quarter percentage point in December to a range of 0.5 percent to 0.75 percent. That was its first hike in a year.

In December, Fed policymakers forecast three rate increases in 2017, up from its estimate of two bumps in September, citing an improving economy and labor market.

San Francisco Fed President John Williams recently suggested a March increase is a possibility. And Chicago Fed Chief Charles Evans, typically a “dove” who prefers to keep rates low to spur growth, said he officially predicted two rate hikes but could be comfortable with three moves.

Yellen also reiterated that Fed policymakers continue to expect gradual rate increases amid a moderately expanding economy and inflation that should slowly rise to the Fed’s annual 2 percent target.

Fed policymakers generally have not factored President Trump’s fiscal stimulus proposals into their economic growth and rate forecasts. Trump has proposed up to $1 trillion to upgrade the nation’s crumbling roads, bridges and waterways, higher defense spending and big tax cuts.

“It looks like (the Fed’s policymaking committee) believes they’re unlikely to happen or thinks they’re not particularly pro-growth,” Sen. Pat Toomey, R-Pa., told Yellen. “The rest of the world has a different view.”

“Most of my colleagues decided they would not speculate on what economic policy changes would be put into effect and what their effect would be,” Yellen responded. She added: “While it is not my intention to opine on specific tax or spending proposals, I would point to the importance of improving the pace of longer-run economic growth and raising American living standards with policies aimed at improving productivity,” Yellen added.

Yellen said investments in research and development and job training would be effective in bolstering weak labor productivity to juice long-term economic growth, though she said infrastructure investment also could help.

She also said she hopes that Trump’s proposed stimulus will not run up the federal debt. “I would also hope that fiscal policy changes will be consistent with putting U.S. fiscal accounts on a sustainable trajectory,” Yellen told the Senate banking committee. Higher debt is likely to push up long-term rates, increasing borrowing costs for consumers and businesses.

Separately, lawmakers pressed Yellen on when the Fed plans to reduce its roughly $4 trillion balance sheet. During and after the Great Recession and financial crisis, the Fed purchased more than $3 trillion in mortgage-backed securities and Treasury bonds to push down mortgage rates and long-term interest rates broadly.

Some Fed policymakers recently have said the central bank should begin to unwind those purchases now that it has started raising its benchmark short-term rate. Although Fed officials don’t plan to sell the assets because that might abruptly drive up long-term rates, they’ve said they eventually will stop reinvesting the funds from the securities as they mature, allowing the balance sheet to gradually shrink.

http://www.floridarealtors.org/NewsAndEvents  Copyright © 2017, USATODAY.com, USA TODAY, Paul Davidson

On Valentine’s Day,

You’ve given roses, flowers, balloons, candy & jewelry. Why not not give your sweetheart a diamond of a house for Valentine’s Day?

This 3 bedroom, 2 bathroom Shore Acres home in St Petersburg is all remodeled and ready for you to move in. I’ll even add a big red bow! Happy Valentine’s Day!!

https://www.trulia.com/property/3223754998-1766-Maryland-Ave-NE-Saint-Petersburg-FL-33703

NEW YORK – Feb. 8, 2017 – Women, on average, earn less than their male counterparts, but single females buy homes at more than twice the rate of men.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=348220

In 2016, single women accounted for 17 percent of homebuyers in the last year compared to just 7 percent of single men, according to the National Association of Realtors® (NAR). The housing gender gap has existed for a while, but it continues to widen for a variety of reasons, according to Jessica Lautz, NAR’s managing director of survey research and communications.

For one, single women are more likely to be parenting on their own than single men; as such, they may be more likely to seek stable housing for their children. In 2011, there were 8.6 million single-mother households and only 2.6 million single-father households, according to the Pew Research Center.

“If you have children, it’s definitely going to play a role in where you’re thinking of living and how,” Lautz says. “And a mortgage can provide financial security. I think women, even with lower incomes, want a place where they can have roots and really own a place. The psychological desire to do that is great.”

And, despite cultural assumptions about women’s desire for marriage, single women without kids are more likely to be drawn to “singledom” lifestyles than men are, says Bella DePaulo, author of “Singled Out” and a professor at the University of California at Santa Barbara.

“Some research suggests that single women are especially unlikely to be lonely – again, contrary to our stereotypes,” DePaulo told Bloomberg. “Buying a home is a way of living your single life fully, rather than seeing your single years as just marking time until you find ‘the one.'”

The wage gap may still play a part in the house hunt, however. Single women tend to buy their first homes at an older age than men – 34 years old compared with 31, according to NAR research. They also tend to buy in a lower average price at a median $173,000 compared to $190,600.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=348220

Source: “Why Single Women Are Buying Homes at Twice the Rate of Single Men,” Bloomberg (Jan. 31, 2017)

© Copyright 2017 INFORMATION, INC. Bethesda, MD (301) 215-4688

Forget what you think you know about the best cities in the world – here are 10 that you’ll want to keep your eyes on

These ten cities are set for great things over the coming years, and each has something unique to offer. Bogotá is an upcoming international tech hub, while Panama City is a playground for the rich and famous. Vienna and Porto are cultural hotspots, and Cincinnati is a sensational place to bring up a family. Read on for more on these on-the-up locations, and a glimpse of some hot properties on the market.

Vienna, Austria

Vienna’s stunning architecture, such as its parliament building, town hall tower and statue of goddess Pallas Athene, enhances the city’s excellent quality of life. Photograph: Getty Images. Banner image: Downtown Cincinnati and the Roebling Suspension Bridge.
Vienna’s stunning architecture, such as its parliament building, town hall tower and statue of goddess Pallas Athene, enhances the city’s excellent quality of life. Photograph: Getty Images..

Sophisticated, affordable, clean, safe, aesthetically exquisite, and socially democratic, it’s little wonder Vienna regularly tops quality of life polls; the Mercer Quality of Life Survey recently named the Austrian capital number one in the world for the seventh year in a row. Geographically central, overflowing with work opportunities and excellent transport links, it has become a key European business hub. Equally, Austria now boasts one of the highest figures for GDP per head globally, according to the World Bank. A large student population ensures superb recreational activities and vibrant nightlife; Vienna’s bar and multicultural restaurant scene is on the up, while the city’s elegant café culture continues to flourish.“A beautiful city steeped in history, Vienna draws in vast numbers of tourists every year and benefits hugely from this financially,” says Julie Leonhardt LaTorre, Senior Vice President, Head of Operations, EMERIA, at Christie’s International Real Estate. “The government pours money back into the city’s infrastructure, meaning Vienna runs exceptionally smoothly, and residents have a very high quality of life.”

Panama City, Panama

High-rise condominium buildings line Balboa Avenue in Panama City, one of the most exclusive streets in the country. Photograph: Getty Images
High-rise condominium buildings line Balboa Avenue in Panama City, one of the most exclusive streets in the country. Photograph: Getty Images

Boasting a great combination of city, beach, and rainforest in a gloriously tropical climate, Panama’s economy is booming, partly due to the recent expansion of the Panama Canal, according to Bloomberg. Its capital is also rapidly becoming a playground for the super-rich. The new Soho Panama mall brought Chanel, Versace, Burberry, and Ladurée to the city, while the Ritz-Carlton hotel opens later this year. By 2024 its impressive transport, healthcare, and tax systems are expected to attract a further 7,000 super-rich residents. Meanwhile, a new Panamanian cuisine is beginning to emerge at hotspots like Manolo Caracol and Riesen.For savvy investors looking to acquire a luxury residence in this bourgening regional economic hub, Christie’s International Real Estate affiliate Panama Premier Estates is marketing this stunning waterfront apartment, which sits proudly above Panama City. Fitted with three bedrooms and several expansive living areas, this contemporary home is ideal for those wishing to take advantage of everything this exciting city has to offer.

Auckland, New Zealand

Beautiful Waiheke Island, with its pristine beaches and world-class vineyards, is just 40 minutes from Auckland City by ferry.
Beautiful Waiheke Island, with its pristine beaches and world-class vineyards, is just 40 minutes from Auckland City by ferry.

The largest Polynesian city in the world, Auckland is a melting pot of international cultures. It also has one of the most business-friendly markets: the city accounts for 35% of New Zealand’s GDP and is growing at 2.9% annually, attracting new investment and entrepreneurs from around the globe.Auckland ranked as the world’s “hottest” market for prestige property this year in Christie’s International Real Estate’s 2016 Luxury Defined report. Strong local, expat, and overseas buyer demand fueled an incredible 63% annual increase in million-dollar-plus home sales.

“Living and working in Auckland means you get the best of both worlds – a bustling, modern city set in a stunning natural environment,” says Kim Harris of Auckland-based Bayleys Realty Group, an affiliate of Christie’s International Real Estate. “The city has a stable business environment, a growing economy, a diverse and skilled talent pool, a worldwide reputation for innovation, and an enviable lifestyle.”

Its most popular areas include Waiheke Island with its vibrant arts scene; Grey Lynn, famed for its chic feel and international food; Viaduct Harbour, full of superyachts and elegant dining, and Mission Bay, which offers a relaxed beach atmosphere.

Lisbon, Portugal

The Alfama district in Lisbon is made up of narrow streets, tiny squares, churches, and whitewashed houses. Photograph: Getty Images
The Alfama district in Lisbon is made up of narrow streets, tiny squares, churches, and whitewashed houses. Photograph: Getty Images

The reigning European Entrepreneurial Region of the Year, Lisbon has worked hard to support domestic business and market itself as an accommodating place for entrepreneurs since the Eurozone crisis. Startup Lisboa has helped found hundreds of businesses, with around 30% of new entrepreneurs coming from abroad. People here are warm, friendly, and laid-back but also energetic and ambitious, and more and more high-tech, tourism, and creative start-ups are appearing. The city runs on a “work hard, play hard” ethic, with its golden beaches and 250 days of sun per year offering plenty of ways to unwind. Culturally, Lisbon has a thriving arts scene, booming nightlife, and a range of fantastic restaurants.“A wonderfully good value coastal city with a relaxed vibe, beautiful beaches, a tremendous culinary scene, and terrific weather, more and more people are understanding how attractive Lisbon is,” says Julie Leonhardt LaTorre, Senior Vice President, Head of Operations, EMERIA, at Christie’s International Real Estate.

Cincinnati, Ohio, USA

Cincinnati’s Paul Brown Stadium, which once made a top-150 list of American architecture, sits on the waterfront next to The Banks entertainment district.
Cincinnati’s Paul Brown Stadium, which once made a top-150 list of American architecture, sits on the waterfront next to The Banks entertainment district.

Forbes recently named the Cincinnati-Middletown area the top up-and-coming city for college leavers, given the huge number of openings for graduates and a vibrant job market. The city is also an emerging food and drink capital: approximately 500,000 people attend Taste of Cincinnati annually, making it one of the largest street festivals in the United States. Key neighborhoods include foodie central Over-the-Rhine; European-style Mount Adams, full of young professionals and artisans; exclusive Indian Hill; well-educated Hyde Park; and family-oriented suburb, West Chester.“The city borders northern Kentucky’s lush Bluegrass region, where the conditions for breeding and racing horses are ideal. Several horse farms have recently been purchased by international buyers,” says Kathleen Coumou, Christie’s International Real Estate’s Executive Director. “These clients can take advantage of the city life, fine dining, cultural amenities, museums, ballet, symphony, and major league sports.”

Honolulu, Hawaii

Set against the backdrop of Diamond Head State Monument, Waikiki in Honolulu was once a playground for Hawaiian royalty. Photograph: Getty Images
Set against the backdrop of Diamond Head State Monument, Waikiki in Honolulu was once a playground for Hawaiian royalty. Photograph: Getty Images

The Hawaiian capital of Honolulu boasts great shopping centers, restaurants, and miles of beaches, leading to it being ranked one of The 50 best places to live in America by Business Insider. This modern Pacific city – which runs on a diet of tourism, entertainment, recreation, and exquisite scenery – also has superb air quality and low instances of cancer and heart disease.“In addition to wonderful weather all year round and beautiful natural surroundings, Honolulu is an energizing, multicultural city,” says Les Enderton, executive director of Oahu Visitors Bureau. Honolulu’s art scene has also taken off in recent times.

Kahala Avenue, the most desirable street in Honolulu, is home to a wealth of luxurious homes including this modern, five-bedroom, single-level home designed by Geoffrey Lewis that features high cedar ceilings, and an open-floor plan allowing dynamic indoor–outdoor living. Currently marketed by Christie’s International Real Estate affiliate Choi International, the outdoor pool includes water features and tiki candles, and steps opposite the property lead directly to the beach.

Calgary, Canada

The Peace Bridge, designed by renowned Spanish architect Santiago Calatrava, connects the northern Bow River pathway and downtown Calgary. Photograph: Getty Images
The Peace Bridge, designed by renowned Spanish architect Santiago Calatrava, connects the northern Bow River pathway and downtown Calgary. Photograph: Getty Images

The cool, cosmopolitan Canadian city of Calgary, Alberta, regularly ranks high on global living standard lists, and for good reason: low taxes, clean air, low crime rates, and an abundance of nature – the Canadian Rockies are an hour-and-a-half away by car – making life here easy to love. New businesses spring up daily, and, compared to Toronto and Vancouver, house prices here are low: the average price of a property in Calgary in the year to August 2016 was $457,000, significantly less than many other Canadian cities.The city is not only an auspicious destination for young professionals, but also for Canada’s leading real estate market. With a secluded garden backing onto the Heritage Pointe Golf Course, this luxurious, three-bedroom residence is being marketed by Christie’s International Real Estate affiliate The Alberta Collection. Expansive windows flood the open-plan, 3,830 sq ft property with natural light, and warm wooden furnishings and stone fireplaces lend the home a sumptuously rustic feel.

Bogotá, Colombia

Bogotá, the second highest capital city in the world, is an intriguing mix of skyscrapers and incredible scenery. Photograph: Getty Images
Bogotá, the second highest capital city in the world, is an intriguing mix of skyscrapers and incredible scenery. Photograph: Getty Images

Named by Forbes magazine as “the next capital of cool,” Colombia’s capital is an alluring mix of business and pleasure. Boasting a beautiful historic center, a thriving luxury shopping and dining scene, and an excellent cycling network, Bogotá is simultaneously becoming South America’s newest tech hub – Google, Facebook, and Microsoft have all opened offices, while local start-ups are booming. Huge improvements to security and stability have made Bogotá more attractive to both international investors and overseas home buyers, and and has boosted quality of life immeasurably.“The attitude of people in Bogotá is very driven, entrepreneurial, family-oriented, and outdoorsy. In terms of neighborhoods, Zona G is known as the Gourmet Zone, where the high-end and up-and-coming restaurants are located. Meanwhile, Zona T (which has a T-shaped area at its center) is most recognized for exciting bars and the best nightlife,” says Rick Moeser, Christie’s International Real Estate’s Executive Director for the Southeast Region, Caribbean, and Latin America.

Porto, Portugal

The historic center of Porto, a UNESCO World Heritage Site, includes the picturesque Ribeira district on the Douro River. Photograph: Getty Images
The historic center of Porto, a UNESCO World Heritage Site, includes the picturesque Ribeira district on the Douro River. Photograph: Getty Images

Recently named “Europe’s most compelling new food destination” by The Wall Street Journal, Porto’s restaurant scene is catching up with its outstanding wines, and the city is quickly shedding its title of “Lisbon’s little sister.” Portuguese chefs such as Nuno Mendes in London and George Mendes (no relation) in New York, have put the country’s cuisine firmly on the global food map. People are now flocking to sample both Porto’s cellars and dining halls, where the focus is on excellent local produce and “urbane rusticity.”Laid-back and low-key, Porto ripples with cobbled streets, Baroque churches, Art Deco architecture, food markets, jazz bars, exhibitions, and music festivals such as Primavera Sound. For those looking to embrace the region’s charms as a permanent resident or second-home owner, this traditional Portuguese quinta (“country estate”) in the Maia region just north of Porto may entice. Marketed by Christie’s International Real Estate affiliate Luximo’s, it has 10 bedrooms, eight bathrooms, a swimming pool, tennis court, and winemaking facilities attached to its own vineyard.

Valencia, Spain

Santos Juanes church and the Central Market beyond are some of Valencia’s most popular attractions. Photograph: Jorge Bellver
Santos Juanes church and the Central Market beyond are some of Valencia’s most popular attractions. Photograph: Jorge Bellver

Hit hard by the 2008 property crisis, Spain’s historic city of Valencia is now overflowing with real estate bargains, luring young Spaniards from other cities as well as international young professionals keen to take advantage of the coastal city’s low cost of living, warm climate, and attractive culture. Its rich and storied history lends itself to an extraordinary mix of cultures and styles, most identifiably in the city’s architecture, which ranges from old fishermen’s cottages in the Cabañal, to ultramodern flats overlooking the City of Arts and Sciences center, and beautiful façades in Carmen old town.Valencia is considered the most creative city in Spain. The way of life here is ideal for families due to the quantity and quality of schools – including international schools – and the many leisure opportunities,” says Francisco Ballester of Rimontgó, Christie’s International Real Estate’s affiliate in Valencia, Spain.

The city ranked as the world’s top “comeback” property market in the 2016 Christie’s International Real Estate Luxury Defined report, and posted an incredible 89% annual increase in luxury home sales. Thanks to a weak euro, property prices below the 2007 peak, and a surge in overseas visitors, Valencia’s luxury housing market is likely to continue on its upward trajectory.  

http://luxurydefined.christiesrealestate.com/blog/luxury-lifestyle/10-cities-to-watch-in-2017

 

With inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.

1. Demand Is Strong

The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!
Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.
This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.
There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this fall.
Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017. Last month’s new home sales numbers show that many buyers who have not been able to find their dream home within the existing inventory have turned to new construction to fulfill their needs.
The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007’s pace. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler.

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more (both in down payment and mortgage payment) if you wait.
According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.46% right now. Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.

for more info:   http://www.realtor.org/reports/realtors-confidence-index

SAN FRANCISCO – Nov. 1, 2016 – Technological advances have made real estate agents especially important to millennials, according to a study by Coldwell Banker, “Wealth, real estate and the high-net-worth investor.”

http://www.floridarealtors.org/NewsAndEvents

The study found that over 70 percent of respondents believe agents are more important than ever, with nearly two-thirds saying they would never buy or sell a home without an agent’s help. More than half of those polled said agents are more important to the home-selection process than friends, family or digital resources.

The main reason millennials value Realtors? They recognized their own lack of experience in the sometimes complicated homebuying process.

However, technology remains important to young adults. A Realtor’s role has diminished in some areas thanks to online tools, such as mortgage calculators; easy access to taxes and other government-related information; and general background info on cities and neighborhoods.

Moreover, technology has changed the process by making it easier to respond quickly to contacts, which is a must for millennials. This demographic also takes into consideration an agent’s reputation on social networks

As a result, a Realtor’s role may not have diminished, but the study suggests that successful agents must adapt to the changing demands and expectations of today’s younger buyers.

Source: Tech.Co (10/27/16) Costa, Diogo

© Copyright 2016 INFORMATION, INC. Bethesda, MD (301) 215-4688

http://www.floridarealtors.org/NewsAndEvents

Annalisa Weller, Realtor®, Certified International Property Specialist

(727) 804-6566
AnnalisaWeller1@gmail.com

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