We previously reported how a shortage of inventory in the starter and trade-up home markets is driving prices up and causing bidding wars, creating a true seller’s market. At the same time, in the premium home market, an over-abundance of inventory has started to see prices come down and put buyers in the driver’s seat, creating the beginning of a buyer’s market. Last week, the National Association of Realtors released their Existing Home Sales Report which shed some additional … [Read more...]
National View – US Home Price Rise Strongest in Nearly Three Years
These are heady days for American home sellers, with a report Tuesday showing that housing prices in March recorded their largest annual increase in nearly three years. But the gains are inflicting more financial pain on home buyers, though the price run-up has fallen well short of the annual double-digit increases during the mid-2000s housing bubble. Home prices across the USA were up 5.8 percent annually in March, up from 5.7 percent the prior month, according to the S&P CoreLogic … [Read more...]
Why Housing is Not Headed for Another Bubble
With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago. Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand … [Read more...]
Is This the Year to Move Up to Your Dream Home?
Buying a Dream Home - It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys: The University of Michigan Consumer Sentiment Index National Federation of Independent Businesses' Small Business Optimism Index CNBC All-America Economic Survey The Conference Board Consumer Confidence Survey It usually means good news for the housing market when the country sees an … [Read more...]
Owning a Second Home – Useppa Island
You’ve dreamed and planned for owning a second home. Imagine enjoying vacations whenever you want, entertaining family and friends and creating a home away from home. There are many, many, good reasons for owning a second home. Before you take that step, there are some considerations for your careful planning. First, many second home/vacation home owners take the steps to improve family time and take a break from their hectic daily schedules. Booking reservations and the overall cost for … [Read more...]
Thinking of Selling? Don’t Overlook an Outdated Kitchen, Buyers Won’t
If you are planning on listing your home for sale, make sure that you don’t overlook that outdated kitchen. A recent article on realtor.com listed “7 Signs Your Kitchen Is Way Overdue for a Renovation,” in which they warned: “Dated kitchens—just like bathrooms—are a major barrier for resale. Buyers want modern amenities and styling, and most aren’t interested in renovating post-purchase.” Kitchen remodels can be pricey, with many complete remodels costing $20,000 or more. But not every … [Read more...]
The Difference an Hour Makes
The Difference of an Hour - Time to FALL BACK Every Hour in the US Housing Market: 633 Homes Sell 253 Homes Regain Positive Equity Median Home Values Go Up $1.43 … [Read more...]
Reversing the Slump in August
Reversing an eight-month slump, residential real estate sales rose 3.8 percent in Southwest Florida in August. The state picture Statewide, buyers closed on 25,070 single family homes in August, up 8.2 percent. Condo sales grew 3.3 percent to 9,484, Florida Realtors said. Homes throughout Florida traded for a median $225,000, 12.6 percent more than last year, while condos sold for $160,000, a 6.7 percent gain. The activity erased the 8 percent decline in sales in July, said Brad O’Connor, … [Read more...]
10 Decorating Mistakes and How to Avoid Them
The award-winning pros revealed decorating mistakes that drive them crazy and shared insider tips and tricks for creating a harmonious room design. In addition to the designers' pet peeves, we've added a few of our own. By Brenda Richardson Special to The Washington Post After years of working with numerous clients, interior designers Michael Smith and Mary Cook have seen many of the same design mistakes over and over. The Los Angeles-based Smith, who was appointed by the Obama's to … [Read more...]
76% Of US Homeowners Have Equity in Their Homes!
CoreLogic’s latest Equity Report revealed that 91.1 percent of all mortgaged properties are now in a positive equity situation, while 75.9 percent now have significant equity (defined as more than 20 percent)! The report also revealed that 548,000 households regained equity in the second quarter of 2016 and are no longer under water. Price Appreciation = Good News for Homeowners Frank Nothaft, CoreLogic’s Chief Economist, explains: “Home-value gains have played a … [Read more...]