Baby Boomers propel demand for vacation homes. In 2015, total annual U.S. vacation home sales reached the second highest level since 2006, according to the National Association of Realtors® 2015 Investment and Vacation Home Buyers Survey. “Baby boomers at or near retirement continue to propel the demand for second homes”, says Lawrence Yun, NAR’s Chief Economist and Senior Vice President of Research. “The expanding pool of buyers amidst a dwindling number of bargain-priced properties led … [Read more...]
Summer. The Right Time to Buy.
The right time to buy. Summer is here! The temperature isn't the only thing heating up right now, so too is the housing market in many areas of the country! Here are four great reasons to consider buying a home today instead of waiting. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 5.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home … [Read more...]
Budget-Minded Upgrades That Give You the Most Bang for Your Buck
Smart Home Upgrades Even if you aren’t ready to list your home, a few smart changes can make a big difference in adding to your home’s value and maybe lift your spirits as well. If you want to increase the appeal and profit potential, strategic and budget-friendly home improvement ideas in these six categories will offer the biggest return on your investment. A budget-friendly kitchen remodel Real estate agents will tell you time and again: Kitchens and baths sell houses. Dated … [Read more...]
Who Pays the Highest Property Taxes?
Property Taxes - the Cost of Owning The average median property tax rate across the nation is 1.31 percent. That means a home owner with a home valued at $200,000, on average, pays an annual amount of $2,620 in property taxes, according to an analysis by CoreLogic’s data team. Illinois has the highest median property tax rate at 2.67 percent. Hawaii, on the other hand, has the lowest at 0.31 percent. “While higher median tax rates are seen primarily among states in the northeast, a … [Read more...]
Flood Insurance Solution Takes Big Step Forward
Property owners who opt to purchase flood insurance in the private market rather than through the National Flood Insurance Program (NFIP) may do so under current rules, but they may be charged higher rates if they want to return to NFIP coverage. But there's hope for a change: H.R. 2901, the "Flood Insurance Market Parity and Modernization Act," unanimously passed the U.S. House of Representatives Thursday. It now goes to the Senate for consideration. If approved by the Senate, it then needs … [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...]
Staging Your Home for Great Photos
Here's great tips for getting impressive photos when you're staging your home to sell. Design for the camera, not for the end user. When putting together a space, we always think of the camera first. Will this angle look right, will it show off the best feature of the house? Will the light hit these items correctly? The good news is you have a camera in your pocket as you read this. When we stage a house for market, we are constantly taking photographs of it and looking at it through the … [Read more...]
Florida’s Real Estate Market – Housing Overview
"Florida's real estate market remained quite healthy in December," said Brad O'Connor, chief economist at Florida Realtors. "Closed sales remain strong, and prices continue to rise. "Inventory levels of single-family homes dropped to an annual low for 2015 at the end of December, to just under 100,000 active listings," he added. Statewide, single-family sales totaled 23,056 in December, up 2.9 percent over the year. Condo sales fell 1.2 percent to 9,357, according to the Florida Realtors … [Read more...]
Homeowners Reap Remodeling Benefits
Homeowners Reap Remodeling Benefits Whether Selling or Staying, Say Realtors® Homeowners preparing to sell often make improvements, both big and small, to their homes that can help yield positive results and garner top dollar from buyers. According to a new report from the National Association of Realtors®, remodeling projects can also bring major benefits to homeowners who choose to remain in their homes. "Realtors® know that certain home upgrades and remodel projects can be beneficial to … [Read more...]
Florida Housing Market Report – October
The Florida housing market reports for October higher median prices, fewer days on market and a constrained inventory of homes for sale in October, according to the latest housing data released by Florida Realtors®. Statewide closed sales of existing single-family homes rose last month with a total of 22,147, an increase of 1.2 percent over October 2014. "October marked the 47th consecutive month that statewide median sales prices increased year-over-year for both single-family homes and … [Read more...]