south florida real estate: 2024 Real Estate Forecast
- 01/02/24 12:19 AM
NAR economist Yun predicts home sales will begin to rise next year – by 13.5% compared to 2023, and the median home price will reach $389,500 – an increase of 0.9% from this year. “Metro markets in southern states will likely outperform others due to faster job increases, while markets in the Midwest will experience gains from being in the most affordable region.”
Yun expects rent prices to calm down further in 2024, which will hold down the consumer price index. He predicts foreclosure rates will stay at historically low levels in 2024, comprising less than 1% of all mortgages.
Read full article … (5 comments)
|
south florida real estate: Planning for 2023 As Mortgage Rates Rise
- 12/01/22 06:52 AM
If you’ve been house-hunting in recent years, you’ve really been through it. Maybe you were waiting out the market, hoping the rocketing prices would start to flatten. Now, of course, they have — but between 2021 and 2022, mortgage rates have more than doubled, from less than 3 percent to more than 7 percent. If you are renting and trying to save for a down-payment, the cost of your rental has likely increased as well. Sellers who are sitting on low mortgage rates are not listing their homes for sale and supply shortages, cost of land, and cost of lending, along with higher labor … (4 comments)
|
south florida real estate: Short Term Rentals As A Real Estate Investment
- 04/23/22 02:27 AM
Companies such as Airbnb and VRBO have brought the short-term rental market into the mainstream, making it easier than ever for investors to profit from real estate ownership. Rather than getting tied into long-term leases, property owners can capitalize on local demand for temporary and vacation rental housing. In recent years, the industry has transformed from a side-gig for homeowners looking to make extra income into a booming industry in many markets across the country.
Although considered great investments, these types of properties require proper management and good knowledge of a local real estate market.
A short-term rental is a property that has a lease … (6 comments)
|
south florida real estate: Home Design Trends for 2022
- 12/22/21 08:09 AM
Home design trends that are expected to loom large in 2022 are an evolution of what started during the pandemic when life was disrupted, and more homeowners started reevaluating their surroundings. In 2021, the pandemic slowly dissipated and then, almost overnight, a variant came charging back. Our homes and how we use them has massively evolved in the past 2 years as we embrace multifunctional spaces and a sense of retreat. With wellbeing, mindfulness, and sustainability as catalysts for change, home decor trends for 2022 focus on maximalism and nurturing natural connections.Read full article on Optima Properties' Blog
… (1 comments)
|
south florida real estate: Affordable Moving- Cost Effective Way to Ship Boxes
- 08/30/20 06:35 AM
If you are moving an entire household, a professional moving company is your best option. But if you have 20-30 boxes of household goods or personal items to move, there are more affordable options. Every move is different. The key to finding the best option is to compare all of them. Quick Reference Ship by train – Amtrak Ship by bus – Greyhound Ship by marketplace -Uship, Busfreighter Ship by car (only if you’re shipping a car) Ship by freight Use a trailer
Read the full article on Optima Properties' Blog
… (1 comments)
|
south florida real estate: Tips for Condo Buyers
- 02/07/20 02:59 AM
Buying a condo, short for condominium, can be a great way to dive into home ownership without worrying about much of the upkeep that comes with single-family homes and townhouses. Condo dwellers can also typically take advantage of shared amenities, plus having professional management to take care of building maintenance. However, condos aren’t for everyone so it’s best to figure out what your lifestyle and budget needs are first. Whether you are purchasing a vacation condo or making South Florida your permanent home, there are a few tips and tricks you should use to help make the condo buying decision easy and stress-free. Here … (3 comments)
|
south florida real estate: Reasons to Buyer in Florida Off Season
- 07/10/19 10:02 AM
It's cheaper, and sellers are serious! The off season is Florida is typically the end of Easter/Passover through Thanksgiving. Buying a home in the late Spring and Summer can be a thrifty move for homebuyers because it’s cheaper, sellers are ready, there are fewer choices, the buyer becomes the negotiator. There’s typically less competition during the off season, which means buyers can get more bang for their buck. The four months with the lightest sales are June through September which means less competition as well.Read full article on Optima Properties' Blog
… (1 comments)
|
south florida real estate: Tax Considerations When Deciding To Relocate
- 08/09/18 10:28 AM
Florida retains its ranking as one of the nation’s lowest-tax states, according to the latest study released by Florida TaxWatch. Out of 50 states, Florida ranks No. 42 in the average amount of money paid by residents. Florida TaxWatch findings: Floridians pay an average $5,679 per person in state and local taxes Residents pay an average $2,584 in state taxes – one of the least amounts nationwide. Only the residents of one other state pay less.
To read full article, please click on Optima Properties' Blog Edit
… (1 comments)
|
south florida real estate: Homebuying Tips and Advice
- 05/07/15 06:17 PM
Buying a house is a difficult process — there are large sums of money involved, the transaction costs and hassle of moving mean that you can’t just buy another house if you don’t like the one you end up with. The best you can do is to educate yourself in all aspects of the house hunt, keep a clear head, and buy a house that best fits your criteria.
There are plenty of articles full of useful tips for first-time homebuyers. I am not going to repeat them. Instead, I will list the lessons I have learned over the past 30 … (1 comments)
|
south florida real estate: Terms To Know When Buying A Home
- 12/22/14 07:14 PM
If you're a first-time homebuyer, you may feel overwhelmed by all the terminology you hear during the process. Here are some of the terms you are likely to hear.
Listings: Real estate agents frequently refer to homes for sale as "listings." A "listing" on a website shows information about the home, like the price and number of bedrooms.
Comparative Market Analysis (CMA): This is an evaluation of comparable recently sold homes in a neighborhood (known as "comps") to determine a fair price range for a certain home on the market.
Dual agency: Dual agency occurs when the listing agent selling a … (0 comments)
|
south florida real estate: Lenders Steer Clear of ‘Blackballed’ Condo Buildings
- 03/03/11 07:40 AM
Condo buyers who sat out last year's real estate market, waiting for prices to bottom or their own financial footing to improve, find themselves in an enviable situation.
Prices have plunged, and mortgage interest rates, while slowly rising, remain near 5 percent, creating the best home affordability in decades for consumers who qualify for loans.
There's just one problem. It's not just the borrower who has to be up to snuff; it's the building, too, and there are buildings that lenders won't touch.Among the deal killers: too many renters in a building, pending litigation, inadequate association reserves and delinquent assessments.
Those … (0 comments)
|
south florida real estate: Florida Foreclosure Facts
- 02/25/11 01:30 AM
A report released by Florida Realtors clears up the confusion by explaining the three different levels of foreclosure activity that analysts consider, and listing the state numbers for each during 2010."The Florida Foreclosure Report" found general confusion about the definition of foreclosure. One group might focus on the number of homeowners who received at least one notice of foreclosure and consider that "the number of homes in foreclosure." A second group might focus only on the number of homes actually taken over by a bank. But while the number of foreclosure notices could be rising, the number of homes actually taken … (6 comments)
|
south florida real estate: Inventory of Homes for Sale Shrinks in South Florida
- 08/17/10 08:06 AM
WEST PALM BEACH, Fla. - Aug. 17, 2010 - The number of homes and condominiums for sale across South Florida has steadily declined over the past two years, an encouraging sign for the region's battered housing market.Still, industry observers worry about a sizable "shadow inventory" of foreclosed homes that could complicate any real estate recovery.Broward County had 19,869 properties on the market in July, down 35 percent from July 2008, according to a multiple listing service report compiled by the Keyes Co.Palm Beach County's inventory of homes and condos slid 31 percent to 23,947 during the same period.The supply of new … (0 comments)
|
south florida real estate: Florida's Real Estate Deposit Laws
- 08/08/10 01:01 AM
Florida's law specifies certain provisions governing real estate deposits.
A deposit is any money you put forward to affirm your will to pay for something in full. The amount and any restrictions on it are usually determined by the seller of the property in question. In real estate, deposits are generally required--and often non-refundable. Florida's state law sets forth a number of regulations governing real estate deposits.
Earnest Money:When you make an offer to purchase Florida real estate, you, as the buyer, will include an "earnest money" deposit. This deposit shows the seller that you're serious about the offer to purchase … (1 comments)
|
south florida real estate: Florida's Existing Home, Condo Sales Up In 1Q 2010
- 05/12/10 12:09 AM
ORLANDO, Fla. - May 11, 2010 - Salesof existing single-family homes in Florida rose 24 percent in first quarter 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. A total of 38,846 existing homes sold statewide in 1Q 2010; during the same period the year before, a total of 31,410 existing homes sold. It marks the seventh consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association.
Statewide sales of existing condominiums in the first quarter rose 67 percent compared to the same time the previous … (2 comments)
|
south florida real estate: 2010 Hurricane Preparedness Guide
- 05/07/10 03:26 AM
History teaches that a lack of hurricane awareness and preparation are common threads among all major hurricane disasters. By knowing your vulnerability and what actions you should take, you can reduce the effects of a hurricane disaster. Hurricane hazards come in many forms: storm surge, high winds, tornadoes, and flooding. This means it is important for your family to have a plan that includes all of these hazards. Look carefully at the safety actions associated with each type of hurricane hazard and prepare your family disaster plan accordingly. But remember this is only a guide. The first and most important thing anyone should … (2 comments)
|
|
|
|
NAR economist Yun predicts home sales will begin to rise next year – by 13.5% compared to 2023, and the median home price will reach $389,500 – an increase of 0.9% from this year. “Metro markets in southern states will likely outperform others due to faster job increases, while markets in the Midwest will experience gains from being in the most affordable region.”
;)
;)
;)
