Likelihood of home price declines? 4% and dropping (9/28/2016)
A quarterly mortgage risk report finds only a 2% chance Fla. home prices will decline over the next two years. Energy-job-dependent states such as West Virginia face the highest risk.
Millennials fuel 2016’s hottest ZIP codes (9/27/2016)
Hot job prospects + affordable housing options + millennials = housing markets that sizzle, according to a Realtor.com survey of U.S. ZIP codes.
How will Fla. grow? UF maps show options (9/26/2016)
A UF study projects about 15 million more people in 50 years, and interactive maps show potential population distribution under various smart-growth scenarios.
Housing shortage eases in some tight markets (9/26/2016)
In Miami, Fort Myers and Sarasota, 3Q housing inventory, including new homes, rose 20% year-to-year, Trulia reports. Some see the increase in more “hot” U.S. cities as the first sign of a stabilizing real estate market.
Single-family rentals on the rise in South Florida (9/23/2016)
Almost one in four (22%) South Florida homes are now rentals rather than owner occupied. In 2014, only 19.5% were rentals.
The 50-plus population will surge by 2050 (9/23/2016)
Universal design could grow in importance when 3.2B adults pass the half-century mark. Currently, this age group controls 83% of wealth and 50% of spending.
Not enough construction in most Fla. metro areas (9/20/2016)
NAR compared local employment gains to housing stock and found 80% of U.S. metros need more construction. In Fla., one city tops list; another ranks near bottom.
Study: Fla. needs to put more homes on less land (9/19/2016)
UF researchers say 15 million more people will move to Fla. over the next 50 years, and the state should start to focus on building up rather than out.
Compared to 100 years ago, owners live large (9/16/2016)
Study: Homes built in last 6 years are 74% larger than those built in the 1910s. With less people in the household too, Americans now have 211% more living space.
U.S. home flipping increases to a six-year high in Q2 2016 (9/16/2016)
Report: Total of 51,434 homes is up 14% from previous quarter, up 3% from year ago – a six-year high. Fla. had several metros in top 10 for highest home flipping rate, including Tampa, ranked third at a 10% rate.
Fla. home market sizzled in past year (9/16/2016)
FHFA: The state’s home prices rose 9.95% from mid-2015 to mid-2016, the fourth-best showing in the U.S., according to the latest home price index.
Don’t put your clients on hold (9/14/2016)
Survey: People still want to talk on the phone - 50% of consumers prefer to have their questions answered via phone - but being placed on hold can be annoying.
Colors that make a room look bigger (9/14/2016)
Some paint colors create the illusion of more space by making it appear that walls expand. Use white, creamy yellow or soft gray to help a room feel more open.
Student housing gets an upgrade (9/14/2016)
As college enrollments rise, residential developers are adding more and fancier amenities to student housing, from en suite baths to in-unit washers and dryers.
A generation of buyers is getting left behind (9/13/2016)
One analyst predicts that student debt and tougher mortgage standards may mean the homeownership rate for people under age 35 will continue to drop through 2025.
Luxury buyers are more likely to bid on a home before seeing it (9/12/2016)
Redfin: In the past year, 39% of buyers of houses worth over $750K made an offer before seeing it in person vs. 19% of those who bought a house at any price.
Single women: A growing force in the real estate market (9/9/2016)
Now the 2nd largest group of buyers, single women account for 15% to more than 20% of all home purchases in recent years, despite being denied credit more often.
Competition could drive PACE program prices down, boosters say (9/9/2016)
Four Property Assessed Clean Energy program providers are approved to offer financing for energy efficient projects in Broward; Palm Beach County may be next.
Color coding for buyers and sellers? (9/8/2016)
Buyers seem to like – and pay more – for creamy yellow or wheat-colored kitchens and light grey living rooms. But they don’t like slate gray or terracotta.
Natural hazard risk holding back home sales (9/7/2016)
Report: In the first half of the year, home sales rose 4.2% in counties with low natural hazard risk, while counties with high risk only showed a 1.9% gain.
Millennials are tapping home equity (9/6/2016)
Poll: Of the 51.3% of homeowners aged 30-34 who have taken out a home equity loan, 43.3% did so to fund vacations while 41.8% did so for emergency cash.
Home shortage makes fixer-uppers more appealing (8/30/2016)
While most buyers want move-in-ready property, more are starting to consider a fixer-upper that, with a little time and money, can be molded into a perfect home.
Homeowners like property value boost from trees (8/29/2016)
Most city residents are willing to pay slightly higher taxes for trees near their home – and they expect them to boost their property value, a new UF study finds.
Homeowners tackle garage messes (8/26/2016)
2015 survey: One in four of owners can’t fit even one car in their garage, but organization products are expected to soon be a $2.4B business, up 25% from 2014.
Shades of gray: The new ‘it’ neutral paint color (8/24/2016)
Gray walls are becoming the modern, neutral choice for a home’s interior spaces. According to paint experts: “Gray is the new beige.”
Survey: Boomers more optimistic, millennials patient (8/23/2016)
66% of existing homeowners view the U.S. real estate market favorably – a 5-percentage point jump since spring and the highest level in more than a year.
Baby boomers chart new direction in housing (8/22/2016)
Americans age 55-plus will play a big role in the housing market, but no one is quite sure what that role will be as they redefine the meaning of retirement.
Sales would be higher if we had more listings (8/22/2016)
Realtor.com: Move-up buyers are afraid they won’t find a better house and won’t sell yet. That, in turn, is holding back a booming real estate market rebound.
Areas hit hard by downturn now see highest gains (8/18/2016)
Miami is seeing the highest property price jumps since 2006 – the peak of the last housing boom – but experts say new mortgage rules and higher condo deposit requirements make this real estate boom different.
Does ‘move-in ready’ now mean smart-home technology? (8/18/2016)
At what magic point do yesterday’s bonus features become the new standard? Currently, more and more buyers expect smart technology in a move-in ready home.
‘Granny flats’ meet some resistance (8/16/2016)
It sounds like an ideal way to care for aging parents: Build them a small home in the backyard. But some cities worry about parking and neighborhood “character.”
Fla. population expected to reach 20.7M this year (8/16/2016)
New residents keep arriving. A Cushman & Wakefield analysis predicts “explosive growth” as the rate of 1,000 new residents each day continues to grow. Jobs are the top reason for the influx.
HELOCs starting to haunt borrowers, banks (8/15/2016)
In 2006, banks offered interest-only home equity lines of credit. Now many of those also add in the principal, and lenders are already seeing more delinquencies.
Number of optimistic buyers hits all-time high (8/12/2016)
In Fannie Mae’s monthly survey of consumers, the share of consumers who said they would buy property if they were going to move climbed to 67%.
Underwater owners regain equity slowly but surely (8/11/2016)
ATTOM Data: Thanks to rising home prices, Fla. is no longer a top state for the number of homeowners who owe more on their mortgage than their home is worth.
Millennials continue to delay committing to buy a home (8/8/2016)
Why? Maybe it’s due to underemployment or low wages, but some developers think millennials want more efficient, affordable living spaces close to “experiences.”
‘Boomerang’ buyers slow to return (8/8/2016)
Of the 4.4M foreclosures of owner-occupied residences since 2000, less than one quarter of owners have bought homes again. In Fla., about 20.3% have returned.
Student debt a bit more problematic in Florida (8/3/2016)
How much of a burden is student loan debt to Fla. buyers? The state ranked 31st overall in a list of best to worst states and 45th in student debt as a percentage of income – but only 7th in proportion of students burdened by debt.
Millennials now largest generation in housing market (8/2/2016)
TD Bank survey: Millennials are more financially conservative than their youth suggests, but nearly two-thirds are saving money in order to buy their first home.
4 out of 5 people think ownership a good investment (8/1/2016)
NAHB poll: “Most Americans believe owning a home remains an integral part of the American Dream” and that policymakers need to encourage and protect homeownership.
Floridians work 59 hours per month for a mortgage (8/1/2016)
A state-by-state study on the amount of hours it takes to afford a home found Fla. No. 9 on the most-hours list. At the top, Hawaiians must work 88 hours per month; at the bottom, Ohio residents work 31 hours per month.
Remodeling spending nears 2006 peak (7/25/2016)
A dip in home remodeling during the recession led to an upswing as owners prepare to sell, buyers perform upgrades and current owners release pent-up demand.
The cost of home renting vs. owning in Fla. (7/19/2016)
A state-by-state GOBankingRates study found that owning a home costs an average $398 per month less than renting in Fla., one of its “a lot more to rent” states.
More homebuyers say: Give me an ‘agrihood’ (7/18/2016)
Developments where homes and working farms co-exist are gaining in popularity, as buyers are drawn to the open spaces and ability to purchase locally grown food.
Where the working-age population is declining (7/18/2016)
Losing a lot of residents in their prime working ages could result in a smaller workforce talent pool or a greater demand for public services for older residents.
Get ready for a baby boomer sell-off (7/11/2016)
Freddie Mac survey: There are a lot of baby boomers out there, and many plan to downsize or move soon – and that would add a lot of homes to the market.
Study: Gated community homes sell for more (7/1/2016)
However, homes in gated communities may not command higher prices if related amenity costs, such as a clubhouse, make overall homeownership more expensive.
Latest trend in senior housing: Roommates (6/20/2016)
As housing prices and rents climb, senior citizens wanting to save money are turning to roommates – a trend especially true for single senior women.
Study: Student loans don’t harm homeownership (6/20/2016)
Study: It’s education that counts, not student debt. College degrees, and the earning premiums that come with them, build assets that help people buy homes.
Homebuilder sentiment rises in June (6/16/2016)
The builder sentiment index finds builders more optimistic about current sales prospects this month than they’ve been since January.
High new-home costs: It’s labor, not materials (6/15/2016)
The cost of raw materials – asphalt, iron, steel and diesel – has fallen, but total new-home construction prices are up 1.8% because labor costs are soaring.
Think you’ve seen it all? Consider this … (6/14/2016)
A Nashville home closing went smoothly until the ex-owner told the buyer that he wasn’t leaving. The former owner must now be evicted.
40% of baby boomers are potential homebuyers (6/14/2016)
Freddie Mac: About 60% of boomers prefer to age in place, but the rest want to move at least one more time – “an enormous impact on the demand for housing.”
Lower-priced homes? Builders can’t do it (6/13/2016)
Buyers seeking a home for less than $150,000 may be forced into the resale market. Builders say land and construction costs make low-cost new homes challenging.
The presidential election creates housing stress (6/9/2016)
27% of Americans think the housing market will get worse after the Nov. presidential election; and so far, no major candidate has focused much on housing issues.
Is tight credit another reason for fewer listings? (6/8/2016)
Before the recession, many owners vulnerable to foreclosure chose to sell instead, but fewer feel threatened due to tighter lending standards. Another concern: Higher mortgage rates could convince more owners with low rates to hunker down.
New homes are bigger than ever (6/8/2016)
Census Bureau: According to its 2015 survey, the median size of a single-family home was 2,467 square feet thanks mainly to bigger bedrooms and bathrooms.
The millennials have taken over (6/7/2016)
For the first time in their 60-plus-years lives, baby boomers aren’t the nation’s largest demographic group – millennials are now the biggest living generation.
Fla.’s recent housing success? Thank baby boomers (6/6/2016)
Clear Capital Index: Four Fla. cities made “Highest Performing Major Metro Markets” in June for home price trends, thanks in large part to an influx of retirees. Tampa, Orlando, Jacksonville and Miami are at the top of the list.
Fannie Mae: Sellers happy, buyers frustrated (6/6/2016)
The number of homebuyers who think it’s a good time to buy dipped to an all-time low as homeowners who think it’s a good time to sell soared to an all-time high.
Romance vs. parents? Millennials pick mom and dad (6/6/2016)
Census Bureau/Pew Research: For the first time in more than 130 years, more young adults live at home with mom and dad than with a romantic partner.
In the buy vs. rent battle, ‘buy’ is winning (6/6/2016)
The latest buy vs. rent analysis from Florida Atlantic and International universities finds that buying makes more financial sense in most metro areas.
Single men’s home values increased more than women’s (5/26/2016)
RealtyTrac: Homes owned by single men, on average, are valued 10% more (In Fla. it’s 12%) and have appreciated 16% more than homes owned by single women.
Women are more skeptical but driven to buy a home (5/19/2016)
A men vs. women homebuyer survey found that women are a tougher sell even though they want to own a home more than their male counterparts.
Builders hampered by soaring regulatory costs (5/10/2016)
NAHB says the cost to comply with new home construction regulations has increased almost 30% in just five years – part of the reason for a dearth of inventory.
Hail to the thief: Today’s burglars are really smart (5/9/2016)
Technology can boost security, but also empowers criminals. An open back door isn’t a lone temptation as smart burglars plan crimes based on structural design.
Home improvement spending: Democrats vs. Republicans (5/3/2016)
In a study that has no bearing on the current presidential contest, HomeAdvisor found that Democrats spend more on their homes and Republicans favor DIY projects.
Foreclosure uptick in reverse-mortgage homes? (5/2/2016)
Homeowners with a reverse mortgage risk foreclosure if they fall behind on real estate taxes or property insurance – and many of them are.
Is this a turnaround neighborhood? Check Facebook (5/2/2016)
U.K. researchers say it’s easier to check social networks if seeking a higher-return investment than it is to drive through neighborhoods or visit Starbucks.
‘Ideal time’ to buy a home say 3 out of 4 people (4/29/2016)
Survey: Despite economic concerns, current and prospective homeowners have an increasingly more favorable view of the real estate market.
Housing costs may prompt a population shift (4/27/2016)
It might be more than sunshine and beaches drawing people to Fla.: More buyers are moving to Sun Belt cities to escape high housing costs found elsewhere.
A top selling point: The ability to age in place (4/25/2016)
By 2030, 73 million Americans will be 65 or older, and demand will continue to rise for one-story homes with grab bars, wider doorframes and ramps.
Survey: Real estate is the best investment (4/25/2016)
When asked the best place to put money in hopes of future returns, 35% of Americans surveyed said real estate. Only 22% said stocks or mutual funds while 17% said gold.
Fla. students can go to school across county lines (4/15/2016)
Fla.’s new law allows students to attend any school – even across county lines. Could that affect demand and home prices in current A-rated school neighborhoods?
More luxury-home sellers drop asking prices (4/14/2016)
In a year-to-year comparison, twice as many $5M-plus home listings cut their asking price in Jan. as the high-end market hits its peak, according to realtor.com.
The 1960’s ranch home? It’s back. (4/14/2016)
In some areas, demand is high for one-story homes, but there are fewer listings because builders have been constructing more two-story homes on smaller lots.
Seller optimism drops on economic nerves (4/11/2016)
Fannie Mae survey: It may be a great time to sell a home, but an increasing number of potential sellers don’t think so. As a result, inventory could get even tighter.
Builders marketing hook: ‘Cheaper to own’ (4/8/2016)
Buyers pay more for new construction, but builders are telling them that it’s a better deal in the long run because greener homes save money on utility costs.
Trends: More Americans heading south (3/31/2016)
Census Bureau: For almost 100 years, relocating Americans tended to move toward the Pacific, but a shift finds them moving to Fla., Texas and the Carolinas.
Economist: Millennials will soon start buying homes (3/30/2016)
Rollins prof says demand will go up: Millennials make up 1/3 of buyers, incomes will rise and 44% of renters (many millennials) plan to buy within three years.