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

Buyer demand still outpacing the supply of homes for sale

The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Homes for Sale in Davenport FL

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.

…

3134 Views, 0 Comments

Read Full Post

99% of experts agree: home prices will increase

Some believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of  recently surveyed  housing experts believe that home values will continue to rise this year.

Homes for Sale in Davenport FL

What is the Home Price Expectation Survey?

Each quarter, Pulsenomics surveys a nationwide panel of economists, real estate experts and investment & market strategists. Those surveyed include experts such as:

  • Daniel Bachman, Senior Manager, U.S. Economics at Deloitte Services, LP
  • Kathy Bostjancic, Head of U.S. Macro Investors Service at Oxford Economics
  • David Downs, Real…

5371 Views, 0 Comments

Read Full Post

NOT Owning Your Home Can Cost You A Lot Of Money!

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Homes for Sale in Davenport FL

Realtor.com recently reported that:

“Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

1. In a previous blog we highlighted the top 5 financial benefits of…

5276 Views, 0 Comments

Read Full Post

Sellers Are Struggling Despite Hot Market

Twelve days before Thanksgiving, Mark Meaney and his wife, Sue, decided to put their 109-year-old house on the market. They looked at comps of similar-sized homes near their St. Paul neighborhood, agreed on a price with their agent and waited anxiously for their first offer to roll in.

What's your Davenport FL Home Worth

Mark and Sue knew their timing wasn’t ideal. The holidays loomed, and the market was slowing; worse, St. Paul was entering its notorious subzero season.

The couple felt torn. After one year of searching for a new home, they had found the perfect place a few miles from where they lived. It was spacious enough to raise their three kids and had a first-floor bedroom and bathroom to…

3538 Views, 0 Comments

Read Full Post

Buying a home is more affordable than renting in 54% of us counties

According to ATTOM Data Solutions’ 2018 Rental Affordability Report, “buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447 [or 54% of] U.S. counties analyzed for the report.”

Homes for Sale in Davenport FL

For the report, ATTOM Data Solutions compared recently released fair market rent data from the Department of Housing and Urban Development with reported income amounts from the Department of Labor and Statistics to determine the percentage of income that a family would have to spend on their monthly housing cost (rent or mortgage payments).

Daren Blomquist, Senior Vice President of ATTOM Data Solutions had this to say:

…

3430 Views, 0 Comments

Read Full Post

Why you need a professional on your team when buying a home

Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional!

Homes For Sale in Davenport FL

You Need an Expert Guide If You Are Traveling a Dangerous Path

The field of real estate is loaded with landmines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of…

2973 Views, 0 Comments

Read Full Post

If You’re Considering Selling, ACT NOW!!

Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

How Much is your Davenport FL Home Worth?

How did we finish 2017?

  1. New-home sales were at their highest level in a decade.
  2. Sales of previously owned homes were at their highest level in more than a decade.
  3. Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.

And Bloomberg Business just reported:

“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic,…

3296 Views, 0 Comments

Read Full Post

Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

Homes for Sale in Davenport FL

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchases and closes on a $250,000 home this month (January). If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?

Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.

Over a five-year period, their equity will increase by nearly…

3206 Views, 0 Comments

Read Full Post

Top 5 reasons you shouldn’t fsbo

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers

Recent studies have shown that 95% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet

Where did buyers find the home they actually purchased?

  • 49% on the internet
  • 31% from a…

3079 Views, 0 Comments

Read Full Post

Top 4 real reasons we buy a home

We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.

Homes for Sale in Davenport FL

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers stability to start and raise a family

From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their minds as…

3117 Views, 0 Comments

Read Full Post