There has been a lot of talk lately about the real estate market. Is it crashing? Is it booming? Is it a buyers or sellers market? Are prices going up or down? National news keeps giving their opinions to these questions. Well here is mine!

Don’t listen to or believe the national news! Every market is different. Real estate is local to each market and Florida is unique from all other states. Local real estate is still strong for our area!

I just closed on three deals last week and their list to sell ratios were 93.3%, 98.3% and 100%. Price it right and it will sell.

Three key indicators of a real estate market are: Active inventory, median sales price, and median time to sale. We can see that as inventory goes down, median sale price starts to increase. It’s a simple display of supply and demand – the less there is of something, the more expensive it will be. However, things may be starting to shift. After bottoming out in February 2022, active inventory has increased each month. While the median sale prices are still high, the pace of growth has started to slow, perhaps an indication that more inventory is lessening the competition among buyers who can put more reasonable deals together. Then you have to consider how long deals are taking to go from list to closed. The faster this pace, the “frothier” the market.

No two parts of Florida are the same (let alone different states) and neither are their real estate markets. Having a realtor that understands the local market is so important. If you ever have any questions I would be more than happy to help!

Go to https://www.floridarealtors.org/news-media/news-articles/2022/09/using-sunstats-changing-market to see more statistics for Florida.

It is officially October and the start to a new month!

In the October issue of our newsletter you will find events this month, featured listings, market predictions for 2022, and how to follow us on social media.

Click the attachment to check it out!

Please don’t hesitate to reach out with any of your real estate needs.

October Newsletter

Hurricane Ian is heading our way… Are you prepared? Let’s go over a few tips that can make a huge difference!

• Put Things That Are Outside Away

A good rule to remember: if you can easily pick it up, put it away. Items that can be easily lifted should either be secured down or picked up and safely put away. This would include outside furniture, children’s toys, potted plants, and yard signs. By doing this you’ll be making sure that these items won’t potentially be picked up by the wind and possibly cause damage.

• Clean Up Your Trees

Go outside and take a look at your trees. Do any of them have branches that could be trimmed? Are some branches growing over your house? Clean them up to make sure they don’t end up coming through a window or falling onto your house.

• Take Photos Of Your Home

If your home ends up withstanding damage, you’ll have to file a claim with your insurance. Having photos of your home (pre-storm) will help cover your bases in case your insurance company tries to question how/when the damage happened.

• Gather An Appropriate Amount Of Supplies

In case your power goes out or you end up stuck in your home for whatever reason possible think of what you would really need to get by. You should have food that doesn’t need electricity to be made, water, batteries, charcoal/gas to grill out, medications and medical supplies on hand. Have gas in your car in case an evacuation is necessary. Charge your phone, so you’re able to keep in touch with loved ones and get updates on the storm. Only worry about gathering things you really need.

• Help Others

Call your friends and family to make sure they are prepared. Lend a helping hand to your neighbor who is outside prepping their house for potential damage. Take supplies over to the person you know wasn’t able to get out on their own to get some before it was all gone. Be a good person in someone else’s life during these stressful times.

It is officially August and the start to a new month!

In the August issue of our newsletter you will find events this month, featured listings, market predictions for 2022, and how to follow us on social media.

Click the attachment to check it out!

Please don’t hesitate to reach out with any of your real estate needs.

August Newsletter

I am getting a lot of people asking when the next foreclosure crash is going to happen.

Attom’s Midyear 2022 U.S. Foreclosure Market Report found that 164,581 U.S. properties had foreclosure filings, which includes default notices, scheduled auctions or bank repossessions.

The number includes the first six months of 2022 and is 153% higher year-to-year, but the figures are skewed by numbers generated during the pandemic when government orders slowed the process.

Foreclosure activity across the United States continued its slow, steady climb back to pre-pandemic levels in the first half of 2022,” said Rick Sharga, executive vice president of market intelligence at ATTOM. “While overall foreclosure activity is still running significantly below historic averages, the dramatic increase in foreclosure starts suggests that we may be back to normal levels by sometime in early 2023.”

I really do not think we are going to see a spike in foreclosures anytime soon, especially in Florida. There is definitely an evening out after the pandemic, yet it won’t be anything drastic. We are seeing a market adjustment, but with the past super low interest rates being 3-4%, I do not think people will stop paying for their mortgages. The asterisk with this is the economy, inflation and the potential for recession. Those are factors that could affect the housing market. With strong jobs and cheaper mortgages, I do not see the foreclosure market changing anytime soon in our beautiful state of Florida.

For more information, go to this article: https://www.floridarealtors.org/news-media/news-articles/2022/07/foreclosures-closing-pre-pandemic-normal

It is officially July and the start to a new month!

In the July issue of our newsletter you will find events this month, a featured listing, market predictions for 2022, and how to follow us on social media.

Click the attachment to check it out!

Please don’t hesitate to reach out with any of your real estate needs.

July Newsletter

A new program called ‘Hometown Heroes’ started June 1st which allows 50-plus careers to qualify for home-buying help up to $25K – helping over 3M Floridians. Income limits start at $120K, home prices at $420K.

The Florida Hometown Heroes Housing program makes homeownership affordable for eligible frontline
community workers by providing down payment and closing cost assistance to income-qualified
homebuyers so you can purchase a primary residence in the community in which you work and serve.

Eligible borrowers can receive up to 5% of their total loan amount (maximum of $25,000) in the form of
a 0%, non-amortizing, 30-year deferred second mortgage.

The program applies to first-time homebuyers as defined by the IRS, which says “first-time” means “someone who has not owned a home in at least the past three years.” Homeowners must also actually live in a home to be disqualified. A renter who inherited a home in North Carolina, for example – one they never actually lived in – still qualifies. Renters who own an investment property also may qualify, providing they only own one.

In addition to Hometown Heroes, a program called “Salute our Soldiers” is for veterans. Rules are similar, but they don’t have to qualify as first-time buyers.

The money isn’t a gift, it’s a loan – but a loan that carries no interest and does not have to be paid back until the homeowners satisfies the mortgage, sells the house, vacates the house or refinances. Paid-off Hometown Hero loan money then gets rolled back into the program to help more potential Florida homeowners.

Only lenders approved by Florida Housing can participate – about 240 in the state. Lenders have some flexibility to remove one co-borrower from an application if it helps a couple qualify for the program. In most cases, a copy of the buyer’s license must be submitted. If an occupation does not require a license, however, they must submit a copy of the business’s license where they work. 

This is a great program for anyone eligible. Check out the attached flyer to see if this could be for you!

Hometown Heroes Program