Do-not-call fees increase
Effective Sept. 1, 2006, the Federal Trade Commission (FTC) will increase fees for access to the federal Do-Not-Call Registry.
For individual area codes in excess of the five free codes, the fee will jump from $56 to $62.
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UF study: The price is right, so buy now
GAINESVILLE, Fla. – March 9, 2007 – Hopeful homebuyers in Florida should act now: The price is right as the state’s single-family residential housing market bottoms out, according to a University of Florida study released today.
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Florida’s existing home sales pace slows in January 2007
ORLANDO, Fla. – Feb. 27, 2007 – The pace for Florida’s existing home sales remained slow in January, though the inventory of homes began to drop in many markets across the state, according to the Florida Association of Realtors® (FAR). Statewide, sales of single-family existing homes totaled 9,382 last month compared to 12,906 homes sold in January 2006 for a 27 percent decrease.
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Affluent buyers want privacy, confidentiality
ORLANDO, Fla. – Jan. 27, 2007 – Money talks, but Realtors® selling luxury properties to affluent buyers shouldn’t, according to a recent survey.
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No need to pay big bucks for copy of deed
NEW YORK – Feb. 22, 2007 – Save homebuying clients a few dollars and warn them about a scam that is making the rounds.
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Florida’s housing market for 4Q 2006: Sales down, median price stabilizing
ORLANDO, Fla. – Feb. 15, 2007 – Florida’s housing sector continued to mirror the national trend in fourth quarter 2006, reflecting slower sales, stabilizing median prices and higher inventory levels of homes available for sale in many markets.
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Report: 55-plus population to reach 85 million by 2014
ORLANDO, Fla. – Feb. 13, 2007 – A new report from the National Association of Home Builders’ (NAHB) 50+ Housing Council predicts that 40 percent of all households will be headed by someone 55 or older by 2012. The 55-plus population is expected to reach 85 million by 2014. The number of households in the 65-74 age bracket by itself will grow by 4.5 million between 2005 and 2014, an increase of more than 38 percent in only 10 years.
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Pending home sales index rises
WASHINGTON – Feb. 2, 2007 – Pending home sales are higher, affirming the stabilization that is occurring in home sales, according to the National Association of Realtors® (NAR).
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New home sales up for month, down for year
WASHINGTON – Jan. 26, 2007 – Sales of new one-family houses in December 2006 were at a seasonally adjusted annual rate of 1,120,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development, or 4.8 percent above the revised November rate of 1,069,000 and 11.0 percent below the December 2005 estimate of 1,259,000.
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Florida’s existing housing market: Median price up, sales down in 2006
ORLANDO, Fla. – Jan. 25, 2007 ¬– Florida’s housing market mirrored the national trend in 2006, with sales of existing single-family homes slowing to a more sustainable pace following a five-year run of record closings. By year’s end, a total of 180,037 homes changed hands statewide for a 28 percent decrease compared to the 248,575 homes sold in 2005, according to the Florida Association of Realtors® (FAR).
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Florida’s existing home market in Dec. 2006: Sales down, median price softens
ORLANDO, Fla. – Jan. 25, 2007 – Sales of existing homes and condos in Florida were down in December; at the same time, many markets reported that the inventory of homes available for sale continued to stabilize while still low-mortgage rates sparked buyer interest.
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NAR: Gradual rise projected for home sales
WASHINGTON – Jan. 11, 2007 – After bottoming in the fourth quarter of 2006, existing-home sales should gradually rise through 2007 and into 2008, while new-home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors® (NAR).
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NAR launches second phase of ‘Buy Now’ campaign
WASHINGTON – Jan. 9, 2007 – National Association of Realtors® (NAR) President Pat Vredevoogd Combs today unveils two new television and radio commercials that encourage buyers and sellers to ignore the real estate bubble talk and take advantage of remarkably favorable market conditions in most locales – conditions that may not last.
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Empty houses lead to lower prices
WASHINGTON – Jan. 9, 2007 – While many housing industry experts hope the real estate market sees some noticeable improvements come spring, a large number of vacant homes for sale and rent could potentially keep prices down. According to the Census Bureau, there were 5.7 million vacant housing units in third quarter 2006, accounting for a record 4.6 percent of all U.S. homes.
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Pending home sales show steady trend
A stabilization trend in the housing market is likely to continue, according to NAR’s latest Pending Home Sales Index. Based on contracts signed in November, the index eased 0.5 percent from its October level to a reading of 107.0 – 11.4 percent lower than November 2005. NAR notes that the decline from year-ago levels has been steadily narrowing since July.
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Florida’s existing home sales down in November
Sales of existing homes and condos in Florida were down in November – traditionally a slow month for the housing sector; at the same time, many markets reported that the inventory of homes available for sale continued to stabilize.
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Rising gas prices and soft housing sales hurt consumer confidence
After three solid months of gains, consumer confidence in Florida fell in December by four points to 89, UF economists report. Most of the drop came from expectations about conditions one year from now.
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2006 Top 10 Stories
With 2007 around the corner, it's time to reflect on the major real estate events shaping the industry in Florida this year. Here are FAR's picks for the Top 10 Real Estate News Stories of 2006.
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Nationally, existing and new home sales rise for month
Nationally, existing and new home sales rise for month
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In response to Ms. May & Ms. Logan regarding the “dark grey area” of bonuses
In response to Ms. Logan. The fact is that if a listing agent/broker and seller feels that offering a bonus will get more movement on the listing, it is marketing.
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Seller Strategies
An increasing number of sellers are slashing their asking prices to generate interest, pushing down the median price.
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Existing-home sales in 2007 expected to recover from cyclical low
Existing-home sales are expected to rise gradually in 2007 from current levels with annual totals comparable to 2006, while new-home sales will continue to slide, according to NAR’s latest forecast. NAR Chief Economist David Lereah believes that inventory supplies are likely to become more balanced in early spring 2007.
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Cities continue to struggle to meet local housing needs
The nation’s cities continue to struggle to meet local housing needs; in fact, three-fourths of local housing officials report that the spiraling cost of housing significantly limits homeownership opportunities for lower-income people and younger families, according to a new study from the National League of Cities.
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UF study: Outlook for Florida real estate market not all bad
UF’s fourth quarter survey of Florida real estate trends finds that things aren’t all bad. More than half of the Florida real estate experts polled say it’s a poor time to build single-family housing and condos, but they’re more optimistic about all other types of properties.
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NAR: Pending home sales indicate market stabilization
Pending home sales are hovering in a narrow range, another indication that a stabilization is occurring in the housing sector, according to NAR. The index, based on contracts signed in October, slipped 1.7 percent to a reading of 107.2 — 13.2 percent lower than a year ago.
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'Heat maps' show pricey, popular communities
A new “heat map” feature on some real estate Web sites measures a neighborhood’s popularity and affordability by highlighting areas in colors ranging from red hot to cool green.
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Say it Right to Sell it!
The housing slowdown poses a challenge for brokers who write property descriptions, and experts note brokers need to change their language to attract prospective buyers.
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Housing Grinch won’t steal Christmas
Economists don’t think the U.S. housing market’s downturn has had any major “spillover” impact on consumer spending this holiday season, meaning that the slump is still confined to the residential property sector.
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Housing market going to dogs – literally
Doggie Mansions, a company in West Palm Beach that builds designer doghouses priced from $10,500 to $100,000, is offering 10 percent commissions to real estate professionals who make the sale.
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In Florida, an upswing in consumer confidence
Are Floridians more optimistic than the national population overall? They are, judging by UF’s November consumer confidence survey, which found a three-point index increase to 93 while its national counterpart logged a decrease.
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Florida’s existing home sales down, median price level in October 2006
The pace of home sales in Florida continued to slow in October, though some markets report that the inventory of homes available for sale also eased last month. A total of 12,773 existing single-family homes sold statewide in October, a decrease of 22 percent from a year ago, while the existing-home median price remained level at $242,500.
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Existing home sales rise in October, market stabilizing, says NAR
NAR: Total existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 0.5 percent to a seasonally adjusted annual rate of 6.24 million units in October from an upwardly revised pace of 6.21 million in September, but were 11.5 percent below the 7.05 million-unit level in October 2005.
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Survey: Homebuyers generally ignore media reports on housing
Can you trust the media? An NAHB survey of potential homebuyers found that consumers ultimately make a buying decision based on personal needs and current conditions, including mortgage rates and home prices, rather than news reports.
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Multifamily builders worry about weakness in condo market
A survey of multifamily homebuilders in the third quarter of 2006 finds that about 80 percent of them lack confidence in the current condo market, with more supply than demand. And about 75 percent expect conditions to remain negative for at least six months.
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Keyes offering cash incentives in slow period
Miami-based Keyes Co. has launched its 30K Program, in which home sellers pay an upfront fee of $1,000 for extra print, e-mail, and direct-mail marketing. Participating homes are identified in the Multiple Listing Service as being part of the initiative.
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TIPS FOR GETTING INTO FORECLOSURE MARKET
Is now the time to snap up a foreclosure? Investors Andy Heller and Scott Frank, who wrote the book “Buy Even Lower: The Regular People’s Guide to Real Estate Riches,” say “yes.”
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Third Q metro home prices & state sales confirm market transition, says NAR
Total state existing-home sales, including single-family and condo, were at a seasonally adjusted annual rate of 6.27 million units in the third quarter, down 12.7 percent from a 7.18 million-unit pace in the third quarter of 2005 – the second highest level on record, after a peak of 7.19 million in the second quarter of last year.
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Florida’s housing market for 3Q 2006
Florida's housing sector continued to mirror the national trend in third quarter 2006, showing a higher inventory level of homes for sale in many areas and a slowdown in the market. Sales of single-family existing homes statewide totaled 43,395 during the three-month period, down 34 percent from the 2005 level; the statewide median price remained stable at $247,900.
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Mrs. Fields shares recipe for success with Realtors
Speaking to real estate professionals at NAR’s recent 2006 convention, Debbi Fields, founder of the Mrs. Fields cookie chain, shared her secret ingredients for achieving success in a customer-focused business: one-quarter cup of passion, one-quarter cup of perfection, and one-quarter cup of perseverance.
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Tone down tinsel
While miniature Christmas villages, big fir trees and festive lights may warm up a home for its occupants, potential buyers may be turned off.
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Four ways to bring more FSBOs into the fold
Converting a FSBO into a client takes more than selling yourself or your company; it takes convincing a prospect of the value the entire real estate industry can offer, trainer Darryl Davis said during NAR’s 2006 Conference & Expo in New Orleans.
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Poll finds consumers confident of home values
Americans remain highly confident about the nation’s housing prospects – more than four out of five homeowners expect the value of their home to appreciate over the next five years, and nearly seven out of 10 consider it their most valuable investment.
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Treat your Web site like your busiest office
Want to make your Web site more relevant and effective for clients in today’s marketplace? Sherry Chris, chief operating officer of Prudential Realty California, says it helps to be generous with listing information and to spend money on Web advertising.
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Existing-home sales holding at a sustainable pace
Existing-home sales stabilized at a sustainable pace in August, while home prices showed an anticipated decline, according to the National Association of Realtors® (NAR).
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NAR: Homebuying increasingly a goal of the young
As they begin to enter the housing market, many consumers in their 20s are more likely to buy a home at a younger age than their older brothers and sisters as well as their baby boomer parents, and are not necessarily waiting for marriage or even a long-term relationship before becoming homeowners.
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Bush administration announces $39.1M in housing counseling grants
HUD will spend $39.1 million in homeownership counseling, awarding grants to17 national organizations and more than 400 state and local agencies, including 21 in Florida.
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NAR: Don't allow banks to engage in commercial activities
NAR expressed growing concern to a House panel yesterday about the inappropriate expansion of banking powers being permitted by the Office of the Comptroller of the Currency (OCC)
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Help employers help you
NAR has launched a campaign to create more affordable housing opportunities for public and private sector workers. Called "Home from Work," the program encourages and trains Realtors nationwide to work with businesses to develop employer-assisted housing (EAH) benefit plans for their workers.
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ARMs a-okay for some
Adjustable rate mortgages (ARMs) are getting a lot of bad press these days, but Merrill Lynch economist Sheryl King says they can still be a very smart choice.
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SRES set to become official NAR designation
The Real Estate Buyer’s Agent Council (REBAC), a subsidiary of the National Association of Realtors® (NAR) announced today that it has signed a letter of intent to purchase the Seniors Real Estate Specialist (SRES) program. |
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