5 home design trends for boomer clients (1/23/2017)
Older adults don’t want to be treated differently, so it can be tough to note age-in-place features. Other perks, such as laundry rooms, might also be less critical.
Rising rates, prices convince some buyers to wait (1/23/2017)
While mortgage rates remain “historically low,” most first-time buyers think they’re substantially more expensive because they don’t remember earlier high-rate years.
How much does a nearby airport hurt a home’s value? (1/20/2017)
A realtor.com study qualified the impact a high-noise neighbor has on nearby home values. An airport, for example, dings values 13.2%; a busy highway within 1/10 of a mile hurts 11.3%; and a nearby emergency room hurts 7.6%.
Millennials more willing to buy those fixer-uppers (1/18/2017)
Sometimes it takes compromise. Faced with rising home prices and interest rates coupled with downpayment challenges and college debt, more younger adults seem willing to buy iffy property that could, over time, become their dream home.
In 10 years, today’s ‘smart home’ may seem stupid (1/18/2017)
Buyers seeking a smart home should keep an eye on the future, say NAHB experts. Other perks trending higher: hidden kitchens and “moderated modern” home designs.
4 reasons luxury real estate will flourish in 2017 (1/16/2017)
Analysts are optimistic about the high-end sector over the coming year, citing the continued interest of foreign buyers and the fact that Fannie Mae and Freddie Mac will provide backing for larger mortgages for the first time in a decade.
Economists: We need more condos (1/11/2017)
Apartment demand remains high because homeownership has tempted few renters – but that may change soon, and entry-level condos could be key to the transition.
Fla. has 4 of top 5 ‘hottest’ single-family markets (1/10/2017)
Orlando, Palm Beach County, Fort Lauderdale, Tampa and Dallas topped a Ten-X list of hottest housing markets based on current and forecasted housing fundamentals, with Orlando overtaking the No. 1 spot previously held by Fort Lauderdale.
Babies may spark the next hot housing market (1/9/2017)
More millennial women are starting to have children – a life event associated with homeownership. So far, millennial birth rates have lagged previous generations.
Big investors evict tenants faster (1/9/2017)
Two big investor firms filed eviction notices on 25% of their units, and another filed eviction notices against 33%. The overall average for small investors? 15%.
Buy vs. rent: Ownership still best in most Fla. metros (1/5/2017)
In a third of U.S. metro areas, it’s now cheaper to rent than buy, due to rising home values and slowly rising paychecks. That renting preference is true in only a handful of Fla. markets, such as Key West.
Fewer buyers care about a home office (1/4/2017)
As fewer buyers put “home office” on their must-have list when house shopping, developers are shifting gears to accommodate greater demand for open spaces.
Older adults face housing troubles (1/3/2017)
Harvard study: By 2035, 1 in 5 Americans will be older than 65, and the U.S. stock of affordable and accessible housing won’t keep up with demand.
5 home design fads fading out in 2017 (1/3/2017)
Designers say white-on-white kitchens and gray walls could be passé. The kitchens’ minimalist style will give way to warm comfort, and gray has been overdone.
Is an eviction crisis brewing? (12/20/2016)
Some foreclosed ex-homeowners could also find themselves kicked out of apartments, as stagnant wages and rising rental costs put the squeeze on many families.
For millennial buyers, home is in the heartland (12/20/2016)
In a search for affordable home prices, millennials are starting to buy property in cities like Minneapolis and Chicago rather than cities like Miami and Tampa.
Contract-to-close took 4 days longer in 2016 (12/19/2016)
In Nov. 2016, it took 3.8 days longer to close on a home than it did one year earlier, even though lenders were still wrestling with new TRID rules in Nov. 2015.
Rising mortgage rates could tighten listing inventory (12/12/2016)
While higher rates would hurt buyers, they could also entice current owners not to move so they can keep enjoying their current lower-rate monthly payments.
A golden window for retirees who wish to downsize? (12/8/2016)
Today’s combo of rising home equity and still-low mortgage rates may make this the ideal time for older adults to cash out and buy their retirement-years home.
Election sparks more Republicans to buy a home (12/7/2016)
In a post-election Trulia survey, 26% more Republicans think 2017 will be a good time to buy, but 23% fewer Democrats feel the same way. Five Fla. cities made the top 10 for “housing markets to watch in 2017.”
Kitchen features buyers will pay more for (12/6/2016)
Of the homes listed for sale on realtor.com, 69% highlight the kitchen as a selling point. Features that add value include custom cabinetry or a large pantry.
Home sizes shrink yet again (11/23/2016)
NAHB: In 3Q 2016, the average square footage of a new single-family home dropped from 2,620 to 2,602 square feet, as builders again focus on entry-level homes.
More tiny neighborhoods are coming (11/23/2016)
Tiny homes don’t usually meet cities’ zoning and building standards, though places like Rockledge, Fla., are looking to change laws to allow for the trend.
Generation Z sees homeownership in their future (11/21/2016)
Today’s teens, Generation Z, value homeownership, with 97% believing they’ll own a home someday, according to Better Homes and Gardens Real Estate.
Report: Future Fla. water woes unless things change (11/16/2016)
If Fla. adds 15 million residents by 2070 as projected, it could increase water demand by more than 50% and see more than 1/3 of the state paved over.
Affordability has become an issue in rural areas (11/11/2016)
The National Rural Housing Coalition says that government funding cuts for rural housing support has created problems for renters and homeowners.
Did vacation homebuyers cause the listing shortage? (11/9/2016)
A Capital Economics economist says nearly 1 million homes are now held vacant for “personal reasons” – an increase from just under 800,000 in 2012.
9 global trends that may impact your market (11/8/2016)
Big global shifts, such as U.K.’s Brexit vote, can change demand for U.S. real estate, but it’s often subtler shifts in economies or politics that do it, such as an uptick in Greek immigrants due to high unemployment.
Realtors ‘challenged’ by clients’ lack of knowledge (11/4/2016)
Freddie Mac survey: Most Realtors refer buyers to a select group of lenders; only 30% are comfy talking about downpayment programs, and 35% find clients’ lack of real estate knowledge challenging.
Latest housing trend isn’t inside the house: Garages (11/2/2016)
Builders now construct more three-car garages than one-bedroom apartments: 1 in 3 homebuyers prefer a three-car garage; 51% want at least two.
Homeownership rates rise from 50-year low (10/31/2016)
The Great Recession sparked an historic drop in U.S. homeownership rates, but the latest data suggest they bottomed out and may be turning upward once again.
2.5M foreclosed owners qualify for a mortgage again (10/28/2016)
Experian: By June 2017, 2.5M ex-owners with recession-era foreclosures or short sales will be qualified to buy after that black mark drops off their credit score.
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.
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.
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.
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.
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.
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.
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.
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.
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.