realtorsscottanddiana: The states of Florida and Central Florida For the Total Value of Real Estate, Avoid New York Only to California for the second time now! - 04/01/24 02:09 PM
     Study: When it came to home values, Florida and Central Florida surpassed the entire State of New York to rank NUMBER TWO nationally, currently only behind the State of California.   Among the "top 20 most valuable metros" are Miami (ranked No. 5) and Tampa (ranked No. 18).
     A Zillow analysis shows that the value of the U.S. housing market boosted by above $2.6 trillion during the last year, predominantly due to rising home rates and the new construction’s value.
     Based on the data analyzed for the report, Florida has led the way in this value gain. … (0 comments)

realtorsscottanddiana: The Buyer's Market Is Challenging, but Many of Them Don't Care - 12/04/23 06:37 PM
According to a survey, most potential buyers (55%) know that the present market is highly competitive; nonetheless, most (54%) still want to keep their current goals or speed up the buying process.
According to the 2023 Homebuyer Insights Report published by Bank of America, many prospective buyers, particularly those in their 40s and younger, are moving on with their plans to purchase houses despite believing the market favors sellers.
More than half of potential homebuyers questioned feel the market is more competitive than it was the year before; yet, almost the same number of respondents (54%) want to either quicken the pace at … (6 comments)

realtorsscottanddiana: Mortgage Application Rejected? You're Not Alone - 10/24/23 06:01 AM
According to a survey, the percentage of mortgage applicants turned down for a loan by lenders dropped to 28% in 2022 from 34% in 2021. As a result of having their applications pre-approved, many people were taken aback by the news.
A mortgage application is comparable to passing an exam to graduate. It differs only because the winner of mortage application will receive a house rather than a diploma.
On the other hand, the "pass" rate for mortgage approval is shockingly low. According to the Zillow Consumer Housing Trends Report 2022, which surveyed 4,900 purchasers, the percentage of applicants who turned down a … (0 comments)

realtorsscottanddiana: Growth in U.S. Metropolitan Areas, with Many Reversing 2021 Population Declines - 09/25/23 08:33 PM
According to the Census Bureau, Orlando was the fifth fastest-growing city in 2022, gaining 65,000 new residents; nevertheless, the total expansion of cities was stifled since the epidemic drove many to move to rural regions.
The migration away from urban regions during the first year of the epidemic either reversed itself or slowed down in its second year. The latest US Census Bureau estimates that metropolitan areas like Texas and Florida grew while decreases in New York and Los Angeles were cut in half. This is in contrast to the first year of the pandemic when people fled urban areas in droves.
Fear … (3 comments)

realtorsscottanddiana: Cash is used by one-third of buyers in the United States, and more so in Florida. - 09/19/23 04:26 AM
The proportion of cash sales made in the United States reached its highest level since 2014 in April. It goes from 35.1% in Orlando to 53.6% in West Palm Beach in Florida.
According to research from Redfin, cash was used to purchase 33.4% of homes in the United States in April. This figure is the most significant percentage in nine years, up from 30.7% the previous year.
There is one primary reason why purchases made entirely with cash make up a larger share of the overall market: Higher interest rates on mortgage loans have a greater impact on purchasers who want to finance … (3 comments)

realtorsscottanddiana: Not Just in Florida: Insurance Companies Scale Back Across the U.S. - 09/12/23 03:18 PM
Homeowners in the riskier sectors of the United States are losing their insurance coverage. However, this threat is not limited to natural disasters. Because of inflation, the cost of repairs has been rising at a greater rate than premiums.
Insurance firms around the United States are minimising their exposure to homeowners' property insurance in regions prone to natural disasters such as flooding, storms, and wildfires.
State Farm and Allstate recently withdrew from California's homeowner's insurance market. At the same time, AIG announced that it would lower coverage for wealthy homeowners in ZIP Codes with a high risk of floods or wildfires. Both events … (1 comments)

realtorsscottanddiana: Metro areas in Florida are now dominating buyers' online searches. - 09/05/23 11:33 AM
One in four purchasers who used the real estate brokerage Redfin website to look for a house also explored properties in other metropolitan areas. The state of Florida is still a popular option, and Miami has reclaimed the position of number one.
A growing number of consumers in the United States are thinking about relocating to a town or suburb. This year, there are fewer buyers in the market overall, and the total number of purchasers is also down; however, among those still shopping, a bigger percentage are looking outside their home city.
Redfin reports that 24.9% of its website users throughout the … (0 comments)

realtorsscottanddiana: The Number of Homeless People Is Rising with Rents! - 08/30/23 06:40 AM
According to the head of the Homeless Services Network, the increase in the number of persons who cannot find homes in Central Florida is "almost completely the effect of rising housing costs."
ORLANDO, Florida — Homelessness seems to be worsening in Central Florida, despite organizations spending money to shelter more than 3,400 individuals in the previous year.
According to the opinions of local experts, a persistent shortage of housing coupled with rising rents is bringing an increasing number of individuals to the verge of being forced out of their homes.
During a discussion on the issue with Orange County commissioners on Tuesday, Martha Are, … (2 comments)

realtorsscottanddiana: The United States housing market will soon become unaffordable for millions of people. - 08/14/23 03:50 PM
If you want to avoid seeing your monthly mortgage payment increase, you should buy a home in Central Florida right now.
Main points:  
Since January 2022, the cost of housing has driven more than 9 million prospective purchasers out of the market in the United States. The increase in all-cash offers and investor acquisitions mainly harms the chances of first-time buyers with low down payments. Due to the historically low number of houses that are now on the market in the United States, however, values are not anticipated to fall.
According to a prominent property economist, rising interest rates in the United … (3 comments)

realtorsscottanddiana: Residents of Florida pay LESS in taxes than residents of almost every other state in the United States. - 07/31/23 01:08 PM
Compared to our home state of Florida, California's Governor Gavin Newsom asserts that his state is "well worth the price." A thorough investigation reveals that Florida and CENTRAL FLORIDA are ranked at Number 45 out of 50 for overall tax burden, whereas California is ranked much higher on the list at Number 9 out of 50 for paying the Most Taxes! Ouch!
How does California's tax system stack up against those of other states like Florida and Texas? Taxes are a more significant financial hardship for residents in competing states, Texas and Florida, than for Californians.
According to an estimate provided by the … (1 comments)

realtorsscottanddiana: Find out how much money you need to live in Central Florida with this handy guide comfortably! - 07/26/23 02:50 AM
According to a recent study, the amount of money necessary to maintain a state of contentment while residing in Central Florida may be determined.
According to a poll conducted by Purdue University and GoBankingRates.com, the Central Florida Orlando Region requires a minimum yearly salary of $105,315 for residents to be considered satisfied.
"Despite historically high unemployment rates during the epidemic, the Sunshine State is in a perfect position. The unemployment rate is 3.2% as of right now, "a poll found. "Although you do need to make a bit more than $105,000 per year to be happy here, it is conceivable to be well-off … (2 comments)

realtorsscottanddiana: It Couldn't Be a Better Time to Purchase a Property in Central Florida Than Right Now! - 07/18/23 06:46 AM
Some people in Central Florida think the home market is beginning to cool due to Orlando residents being sick of the increased mortgage rates. According to statistics provided by Redfin, the number of recently-listed houses sold had dropped by around 37% compared to last year.
What do specialists in the real estate industry observe on the ground?
Recently, Kathy Casey, a real estate agent with Coldwell Banker Residential Brokerage in Denver, Dan O'Brien, a real estate agent with Trueblood Real Estate in Indianapolis, and Sir Ashley Harrison, a real estate broker at the Harrison Group with Fathom Realty in Charlotte, North Carolina, sat … (2 comments)

realtorsscottanddiana: ORLANDO, Florida, has earned the distinction of being ranked second-best place in the United States to retire. - 06/27/23 02:17 AM
According to WalletHub's 2022 Best and Worst Places to Retire assessment, the Sunshine State is home to over half of the cities that made the list of the top 10 most incredible places to spend your retirement years. These cities include Miami, Fort Lauderdale, and Orlando.
It has been determined that Orlando, Florida, and Central Florida, is the second best place in the United States to retire.
The poll evaluated 182 locations based on affordability, activities, quality of life, and health care. Each of these essential criteria was given equal weight in the ranking process. The assumption that a retiree would be living … (0 comments)

realtorsscottanddiana: The most recent home sales in Central Florida have resulted in the highest profit level for sellers since 2008! - 06/13/23 11:52 AM
Despite all the drama and hoopla surrounding a purported "Real Estate Correction" generated by the media...
Prices of homes in the Orlando metropolitan area did not stop increasing in 2022; instead, the price growth rate was moderated.
Sellers in Central Florida and the United States made an average profit of $112k, an increase of 21%; moreover, eight of the best investment returns in the WHOLE Nation were in FLORIDA METRO Areas like Orlando, Florida. Nice!
Even though values fell in the latter half of 2022, Attom's end-of-year report indicates that the average sales profit percentage increased from 2021's 45% to last year's 51%. It … (0 comments)

realtorsscottanddiana: You Should Consider Purchasing a Home in the Orlando Area This Year! - 06/06/23 03:06 PM
Buyers in the Orlando area who put off purchasing a house in Central Florida until a larger selection of homes reduced borrowing rates or some other factor may never become homeowners. And considering Orlando's past, 2023 is a reasonably good year to decide.
 
Mortgage rates have finally begun to decline across the whole state of Florida, and rates in the region of 5.6% for a 30-year fixed mortgage have recently been increasingly prevalent. After two years of house sellers calling the shots, the great American purchaser finally has power due to dropping home prices and increasing residential real estate inventory. Alex Caras, … (0 comments)

realtorsscottanddiana: Central Florida is Included on the List of Most-Desired Places to Migrate to in the United States of America! - 05/30/23 02:50 AM
 One in four purchasers who used the real estate brokerage Redfin website to look for a house also explored properties in other metropolitan areas. Central Florida remains one of the most popular options, while Miami has reclaimed the number one position. A growing number of purchasers in the United States are thinking of relocating to a town or suburb. This year, there are fewer buyers in the market overall, and the total number of purchasers is also down; however, among those still shopping, a more significant percentage are looking outside their home city. Redfin reports that 24.9% of its website users … (1 comments)

realtorsscottanddiana: The value of real estate has increased MORE in CENTRAL FLORIDA than almost ANYWHERE ELSE in the United States of America! - 05/09/23 03:53 AM
According to the FHFA House Price Index, the overall real estate prices in the United States have increased by 8.4% during the last year...
 
Despite this, Central Florida and Orlando were ranked as having the HIGHEST rate of house price appreciation in the country, essentially with an increase in home value that was more than TWICE the national average. Nice!
 
No area in the state of Florida ranked lower than number 31 out of the top 100 metropolitan areas in the country.
 
In contrast to the national trend, the real estate market in Orlando, Florida, is relatively robust.
Our home state of Florida saw a … (2 comments)

realtorsscottanddiana: The Central Florida Real Estate Market is not in a recession Everything Is Just Getting Back to Normal! - 05/02/23 03:45 AM
People with no real estate background might easily monitor the local headlines in Central Florida and make the impression that the market is about to collapse. However, this is only a symptom of a larger market downturn, and home prices in the Orlando area are still higher than they were a year ago. Although 2021 was a record year for real estate in Central Florida, the market has slowed down over the past eight months of 2022. There are still unanswered questions about the severity of the market drop and whether a crash is imminent. There is little question that the … (1 comments)

realtorsscottanddiana: One of the USA's Top 10 Cities with the Fastest Growth in ORLANDO! - 04/26/23 03:53 AM
According to recent research, our very own Central Florida Area, which includes the city of ORLANDO, is among the cities in the rest of the country that is seeing the quickest population growth rate.
Jobs in the IT industry are always changing, tourism is at an all-time high, and the population of major cities around the United States is moving about. A recent analysis compiled by the Kenan Institute of Private Enterprise, a think tank on business policy, rated the top 10 cities in the United States with the highest population growth rates.
The ranking considered the employment rates and economical production of … (3 comments)

realtorsscottanddiana: FLORIDA is now the state in the United States that is experiencing the FASTEST GROWTH rate overall! - 04/18/23 03:21 AM
The Sunshine State and Our Very Own Central While states in the Northeast and Midwest are seeing population declines, Florida and Texas are experiencing population growth.
 
According to data just made available by the Census Bureau, Florida has surpassed more than 60 years of stagnation to become the state with the most rapid population increase in the country!
 
Between 2021 and 2022, the population of Florida increased by 1.9%, reaching a total of 22,244,823 people. This is an increase from the previous year's population. Considering that Florida is already the third-most populated state in the country, this is an outstanding accomplishment. For Florida … (3 comments)

 
Scott Garrison, Top ORLANDO AREA Realtor…this Realtor WORKS! (Re/Max Town & Country Realty)

Scott Garrison

Top ORLANDO AREA Realtor…this Realtor WORKS!

Winter Springs, FL

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