With all of the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it’s logical to ask that question. Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis … [Read more...]
Housing Market Check-In
Housing Market - 6 Expert Predictions for the Second Half of 2019 A. Yale - Forbes.com The year has so far been a promising one for would-be home buyers. The seemingly unending rise in home prices started to slow and mortgage rates dipped to unexpected lows. Both were good news for Millennials who—despite the never-settle-down stereotype—are yearning to become homeowners. Still, despite suggestions that a buyer’s market might be on the horizon, that dream has yet to be realized. … [Read more...]
BUYER’S MARKET HELPS PREMIUM HOME SALES SOAR
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...]
SW Florida Housing Market has Slowed – and That’s Good
NAPLES, Fla. – Feb. 24, 2016 – The SW Florida housing market is showing signs of slowing and local experts say that's OK. Home resales are slowing – and so are land sales for new homes and developments. "We're in the middle of a downshift in the marketplace. And it's a good thing," said Denny Grimes, president of Denny Grimes & Co. in Fort Myers. Grimes was one of three expert speakers at Market Watch 2016, sponsored by the News-Press and held at the Harborside Event Center in downtown … [Read more...]
2015 Florida Real Estate Review
In 2015, Florida's real estate market faced changes big and small, good and not so good. Here are the most influential Florida real estate stories of 2015: The Florida Real Estate Market? It's back As a state famous for investment homes and international sales, Florida tends to be hit hard by recessions and blessed by economic booms. In 2015, it was the latter. According to Freddie Mac's latest Multi-Indicator Market Index – a measurement of state and local markets' strength – Florida's … [Read more...]
Home Prices – Steady Growth Third Quarter
Home Prices An encouraging lift-off in existing-home sales amidst ongoing inventory shortages kept home prices rising in most of the country during the third quarter, but overall price appreciation slowed to a healthier pace, according to the latest quarterly report by the National Association of Realtors®(NAR). The median existing single-family home price increased in 87 percent of measured markets, with 154 out of 178 metropolitan statistical areas (MSAs) showing gains based on closings in … [Read more...]
Guidance – Owning a Second Home
Tax Planning for Owning a Second Home Learn how mortgage interest, property taxes, rental property and tax-free profit affects your tax return. If you are in the market for a second home, congratulations! Not only can you look forward to having a place to relax, you also can garner some tax benefits for that place at the beach. You can use several tax breaks: Mortgage Interest If you use the place as a second home — rather than renting it out as a business property — interest on the … [Read more...]
New Laws for Florida Homeowners
New laws go into effect July 1 TALLAHASSEE, Fla. – June 30, 2015 – A number of real estate-related bills passed by the 2015 Florida Legislature and signed by Gov. Rick Scott become effective July 1. They include: Flood insurance SB 1094 expands an effort that began last year to establish a private, primary flood insurance market so property owners have an alternative to the National Flood Insurance Program. It allows insurers to offer "flexible" flood insurance coverage that, among other … [Read more...]
Florida Economic Forecast – Sunny Days in the Sunshine State
Florida Economic Forecast – Sunny Days Dr. Hank Fishkind - With over 30 years of experience in the field of economic analysis and forecasting, Dr. Fishkind is a well-regarded economist in the state of Florida. Dr. Fishkind recently discussed broad economic markets and narrowed down to Florida economics, giving his opinion of what Floridians might expect in the upcoming year. Tourism is expected to increase significantly due to the recent declines in oil & gas prices. On average, … [Read more...]
U.S. luxury investors to buy big in 2015
With Luxury Home Buyers looking to Purchase in 2015...Useppa Island is the perfect place to escape. Luxury investors to buy big in 2015 : NEW YORK – Oct. 6, 2014 – The market for U.S. luxury homes will maintain its momentum next year, according to a Coldwell Banker poll of individuals with a net worth of $5 million or greater. Nearly half – 48 percent – reported plans to purchase a luxury property within the next 12 months. The bulk of activity is expected from Millennials: About 81 percent … [Read more...]