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Real Estate News in the Central Florida Area and Around the Country.

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Real Estate Market Update – Haines CityHaines City, Florida sits about halfway between Orlando and Tampa. You can reach either of these large metro areas in about an hour, which makes Haines City a great place for those who work in either but don’t want to live in such a large urban location.

This area is a good-sized city with a population of over 20,000, though, so you can take advantage of everything such a city has to offer. If you’re looking at houses for sale in Haines City, FL, it’s important to know what the real estate market looks like.

Haines City Real Estate Market Trends for January 2020

The Haines City real estate market is currently rated as “competitive” to “very competitive” based on the activity of the past three months. This means that many of the houses for sale have

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Central Florida Real Estate News December 2019

 

ORLANDO HOME SALES, MEDIAN PRICE ON THE RISE IN NOVEMBER WHILE INVENTORY DROPS

 

November 2019 Recap

Orlando’s housing market in recorded 3% year-over-year increases in both median price and sales in November, reports the Orlando Regional REALTOR® Association. The association’s data also show that the inventory of homes available for purchase declined for the fourth consecutive month, with November’s 10 percent drop the steepest of 2019.

“Despite our ongoing inventory challenge, there are some very interesting forward-looking indicators this month,” says ORRA President Jeffrey M. Fagan, Watson Realty Corp. “For example, the pending sales tally is up 17 percent compared to

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2 Myths Holding Back Home Buyers

In a recent article, First American shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals,

Homes for Sale in Davenport FL

 “Saving for a down payment is one of the biggest obstacles faced by first-time home buyers. Dispelling the 20 percent down payment myth could open the path to homeownership for many more.”

 Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate how much they need to qualify for a home loan. According to the same article:

“Americans still overestimate the qualifications needed to get a mortgage, resulting in qualified potential buyers not even

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Buyers Are Looking Now. Are You Ready to List Your Home?

Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below:

Buyers Are Looking Now. Are You Ready to List Your Home? | Keeping Current Matters

With inventory being one of the biggest housing market challenges today, finding a starter home right now isn’t easy. According to the Q3 Housing Trends Report from the National Association of Homebuilders (NAHB), 68% of those searching for a home think their search will get harder or stay about the same over the next 12 months.

The same study reveals,

“In Qtr3’19, buyers actively engaged in the process of buying a home are more likely to have spent at least 3 months searching (58%) than a year earlier

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Buyer Demand Growing in Every Region

Buyers are out in full force this fall, increasing the demand for homebuying in all four regions of the country.

Homes for Sale in Davenport FL

According to the latest ShowingTime Showing Index,

“Home showing activity was up again nationwide with a 4.6 percent rise in traffic, as the traditionally slow fall season began with a marked boost in buyer interest.”

Buyers clearly have the right idea, as mortgage rates have dropped over a full percentage point since the fall of 2018. They’ve hovered in a historically low range since this summer, making the overall cost of homeownership significantly more attractive and affordable.

Here’s the breakdown of how ShowingTime reports current buyer traffic patterns across the country:

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ORLANDO MEDIAN PRICE RISES IN OCTOBER WHILE SALES AND INVENTORY DROP

October 2019 Recap

Orlando’s housing market in recorded a 6% year-over-year increase in median price and a small 1% decrease in sales in October. The inventory of homes available for purchase appears to be back on a declining trend, with a decrease (5%) for the third consecutive month.

“Low inventory translates into opportunity for sellers,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “Declining interest rates mean greater purchasing power, which is alluring to buyers, and our local demand is illustrated by an 8 percent increase in pending sales for October.”

“The holidays and wintertime are actually excellent times to list a

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If you’re looking to sell your home this year or early next, then you’ve probably started noticing all the things you think you need to change to get it ready to list. 

 

The kitchen you always wanted to renovate. The dated wallpaper in the bathroom. The laundry room that just didn’t function well. 

 

Well, before you start getting quotes from contractors and digging into your savings, it’s important to know that major renovations almost invariably have a much lower return on investment (ROI) than small- to mid-range ones. 

 

The reason? Buyers don’t actually need a fully remodeled kitchen or perfectly modern bathroom. Instead, buyers tend to focus on specific details when they’re looking at a home, and if you get these right, you’ll

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ORLANDO MEDIAN PRICE GAINS WHILE INVENTORY DROPS AND SALES HOLD STEADY

Orlando’s housing market in August saw both its largest increase (+9%) in year-over-year median price and its first inventory decline (-2%) in 2019. Sales were up a tiny fraction (+0.1) compared to August 2018.

“Orlando’s ongoing challenge with the lower-price range categories, which have solid demand and insufficient supply, is consequently pushing up home prices,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “In addition, while our local economic indicators — particularly very favorable interest rates — point toward a housing strong market, low supply that leaves first-time homebuyers with few options is restraining sales up the

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Should You Fix Your House Up or Sell Now?

With the fall season upon us, change is in the air. For many families, children are growing up and moving out of the house, maybe leaving for college or taking a jump into the working world. Parents are finding themselves as empty nesters for the first time. The question inevitably arises: is it finally time to downsize?

If you’re pondering that thought, you may also be wondering if you should fix-up your house before you sell it, or go straight to the market as-is, allowing a potential buyer to do the updates and remodeling. If you’re one of the many homeowners this camp, here are a few tips to help you decide which way to go.

1. Analyze Your Market

A real estate professional can help you to understand your market and the potential level of

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