Fla. real estate market rapidly returning to ‘normal’ (10/26/2016)
Freddie Mac has a measure to determine whether state and metro real estate markets are close to “normal.” While Fla. and its metro areas still lag overall, the rebound is strong with Fla. the “most improved” state year-to-year.
Ten-X study: 4 of 5 hottest home markets are in Fla. (10/26/2016)
Fort Lauderdale is the nation’s hottest single-family metro, according to a study. Palm Beach County, Tampa, Orlando and Las Vegas round out the top five.
New home sales rose 3.1% in September (10/26/2016)
A tight inventory of new homes didn’t slow growth in Sept. as new home sales rose 3.1% thanks to recent hiring gains and still-low interest rates.
New home developments getting smaller (10/26/2016)
Forget clubhouses, golf courses and mega amenities. As large empty plots of land grow scare, more builders are focusing on projects with as small as 24 homes.
An Apple smart home? It may be the next trend (10/24/2016)
As iPhone sales slow, Apple is inching its way into the smart home market by teaming up with builders and connecting newly constructed houses to the Internet.
Overcrowded cities mix housing with business (10/21/2016)
The mixed-use design of small downtowns is being extended to city skyscrapers. As space tightens, residents and businesses learn to co-exist in the same building.
Independent mortgage brokers upbeat about first-timers (10/20/2016)
Mortgage bankers said the presidential election is a bit of an industry drag, but they think an uptick in first-time buyers will be the next big industry opportunity.
Realtor.com: First look at 2017 real estate market (10/19/2016)
Based on its survey of active home shoppers, realtor.com predicts that 2017 will see more first-time buyers, but affordability and mortgage challenges will become the No. 1 concern and surpass worries about a lack of listings.
‘Aging in place’ isn’t a strong marketing tool (10/19/2016)
60-year-old home shoppers may bristle at the phrase “aging in place” because it forces them to ponder their own mortality. “Thriving in place” works better.
Next multifamily perk: Package delivery services (10/18/2016)
Consumers continue to buy more online, and some landlords see a competitive sales advantage in creating a system that streamlines delivery to individual units.
Forecast: 17M first-time buyers within 5 years (10/18/2016)
A TransUnion study predicts a strong uptick in first-time buyers as aging millennials start families and wounds from the Great Recession continue to heal.
NAR buyer-seller surveys hit 35-year milestone (10/18/2016)
Over the past 35 years, downpayments have gotten smaller, homes have gotten bigger, and, contrary to projections, the Internet still hasn’t replaced Realtors.
Dying suburban malls become housing mecca (10/17/2016)
You may soon sell a home inside a mall, as enclosed malls try to reinvent themselves. Some communities find that it also boosts property values.
Homebuyers no longer have a taste for McMansions (10/17/2016)
The big house on a small lot, a McMansion, appears to be losing favor with today’s homebuyers. Homes from 5,000 to 7,000 square feet are getting harder to sell.
Can homes be protected against storm surges? (10/14/2016)
For coastal communities, the rising ocean often causes more damage than the blowing wind, and scientists are focusing on new ways to minimize water damage.
Freddie Mac: Pay no attention to homeownership rate (10/14/2016)
People who worry about the homeownership rate’s 50-year low forget demographics. Millennials may be late to the party, but that doesn’t mean they aren’t coming.
Which groups will influence future housing trends? (10/13/2016)
A ULI study found that female execs, affluent immigrants, younger and older workers, and retirees would have a “profound influence on community building in the U.S. over the next 10 years.”
Study: Open floor plans may expand waistlines (10/13/2016)
Trying to sell a listing without an open floor plan? Tell buyers it’s healthier. A study found that owners eat more when they have constant access to a kitchen.
Millennials need a talking-to about mortgage rates (10/11/2016)
Many young adults understand home prices, but they don’t really grasp the advantage they have buying today before mortgage rates inevitably move higher.
Buyers and sellers may be getting nervous (10/11/2016)
Fannie Mae’s monthly survey of homebuyers declined again last month, including a 5% drop in the percent of people who think it’s a good time to buy a home.
Study: Millennial student debt impacts many people (10/4/2016)
LendingTree: In Fla. (No, 9 nationwide), the average graduate owes $28,768, and 45.31% say it will delay a home purchase decision. But the impact extends beyond housing as young adults spend less elsewhere too.
5 Fla. cities rank in top 30 for economic growth (10/3/2016)
“Economic growth” can be hard to measure, but a WalletHub study considered 14 indicators, such as GDP per capita, and Lehigh Acres ranked third nationwide.
First-timers want to buy. The problem? Repeat buyers (9/30/2016)
Urban Institute report: The number of move-up buyers hasn’t bounced back yet from pre-recession levels, creating a speed bump for a stronger housing recovery.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
‘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.”
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.
‘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.
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.”
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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.
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.
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.
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.