Study: Lowering home values = higher rates of arson (3/27/2017)
Researchers have long suspected a connection between falling home values and spikes in arson rates, but they lacked supporting evidence until now.
Most millennials plan to buy first home in next 5 years (3/24/2017)
HSBC study: Millennials named slow wage growth, rising house prices and a need for better financial planning as challenges to their dream of homeownership.
Realtor.com names top cities for millennials (3/23/2017)
Economic growth and relative affordability were top draws for the metros. Salt Lake City ranked first, followed by Miami and Orlando, Fla., as No. 2 and No. 3.
Could rising mortgage rates be good for housing? (3/22/2017)
While higher rates make it more expensive for buyers, rising rates could also push fence-sitters into action and convince banks that they can approve more loans.
Nearby gym? Mention that detail in the listing (3/22/2017)
Some people go to the gym; other people value a gym that they swear they’ll go to one day. In either case, gym access can boost buyer demand for a home listing.
Bidding wars to heat up this spring (3/21/2017)
With high buyer demand and fewer home listings, home shoppers are finding a lot more competition this spring, especially in hot markets Denver, Seattle and Boston.
New weapon in Airbnb battle: Nixing the homestead exemption (3/20/2017)
Is “home sharing” OK? Miami-Dade is one of the first Fla. counties to threaten owners with higher property taxes if they rent out rooms via Airbnb-type services.
Top buyer/seller regret? Not prepping soon enough (3/20/2017)
Survey: Most buyers and sellers said they jumped into the market too quickly, even though the sellers spent about five months doing pre-sale prep work.
Marketing homes to retirees? They’re changing (3/17/2017)
In 2000, 13% of 65-plus Americans were still in the workforce, but experts predict it will rise to 32% in the next five years as “the context of aging” changes.
Luxury homes: Uptick in sellers renting rather than moving (3/16/2017)
Some sellers want extra time to move. Some buyers like the rent that helps defray maintenance costs before they move in. But the deal can be problematic.
Study: Millennials want the suburbs after all (3/13/2017)
“The evidence suggests … that homeownership decisions by younger households have much more to do with affordability than location and lifestyle preferences,” study authors said.
Is an Airbnb rental uptick causing a listing shortage? (3/10/2017)
A study by the hotel industry suggests that investor demand for single-family homes for use as short-term rentals has cut down the supply of affordable housing.
Buyers racing to snag a low mortgage rate (3/9/2017)
A higher rate means a smaller house or, in some cases, no house at all, so want-to-be owners are rushing to buy a home before the Fed increases short-term interest rates, which directly impact adjustable mortgage rates and, indirectly, fixed rates.
Consumers super confident about housing (3/9/2017)
Consumer confidence in the housing market hit a new all-time high in Fannie Mae’s Home Purchase Sentiment Index that rose 5.6% in Feb. to 88.3.
Why are millennials less inclined to move? (3/8/2017)
It’s not just student debt and the economy. “When you look at (millennial) demographics, they should be footloose, but they’re not,” says a Pew senior economist.
Boomers lead remodeling surge (3/7/2017)
Harvard Joint Center for Housing Studies report: Homeowners 65-plus will do one-third of all improvement expenditures by 2025 – double their share from 1995-2005.
NAR: Gen X recovering, millennials still live with mom (3/7/2017)
The 2017 Home Buyer and Seller Generational Trends study finds that younger adults are more likely to use a real estate agent than older generations – but student debt continues to slow their move to homeownership.
How will housing change over the next decade? (3/7/2017)
Be ready for some major demographic housing shifts: Demand will be higher overall, but buyers in their 20s will drop as the number in their 30s and 40s grows.
Welcome to your new office: A stranger’s living room (3/3/2017)
Thanks to Airbnb, property owners now realize that space is a marketable commodity, and a new short-term-office rental model is starting to emerge in the UK.
When it comes to mortgage rejections, Fla. is No. 1 (3/3/2017)
Almost 1 in 5 mortgage applications (17.1%) gets turned down in Fla., according a NerdWallet’s “Homebuyer Reality Report” that studied buyer experiences.
New-home buyers: Act now before prices go up (3/2/2017)
U.S construction has a labor shortage, building costs jumped 25% year-to-year, and lumber costs could surge because a price negotiation between the U.S. and Canada stalled due to an investigation into unfair import practices.
Fla.’s lack of industry compared to some other states and nearby oceans (3/1/2017)
Naples has the cleanest air in U.S.; Ocala ranks No. 3. Realtor.com study credits Fla.’s ocean breeze and limited industry for an overall lack of air pollution.
It’s easier for first-time buyers in 36 other states (2/28/2017)
If you’re a first-time buyer, don’t live in Calif. – it’s No. 50 on a Bankrate study of states that challenge first timers. Fla. ranked 37th, while Iowa was No. 1.
Some luxury sellers slash millions off asking prices (2/27/2017)
The New York and Miami luxury markets have been slowing down, and a few other U.S. regions are concerned about a potential glut on the horizon.
For many, ‘aging in place’ is a bad idea (2/22/2017)
Study: Most older adults don’t want to move, but many should: 66% of homes aren’t accessible for someone with physical limitations and upgrades are expensive.
When do home sellers list their homes? (2/17/2017)
In 2016, more sellers listed on Friday, April 1, than any other day. Overall, the first day of a month is popular, with Thursday and Friday top days of the week.
NAR: The listing shortage won’t ease anytime soon (2/16/2017)
Existing-home sales will grow 1.7% in 2017, but a new prediction model suggests that there will be a disappointing number of listings at many buyer income levels.
More people want to be Fla. real estate agents (2/15/2017)
In 2005, 45,000 people passed Fla.’s real estate licensing exam; by 2008, the number plunged to 8,598 before bouncing back. By 2016, 27,926 people passed the exam, and Fla. now has 250,000 real estate licensees.
Single female buyers? Not lonely – they’re empowered (2/8/2017)
In 2016, 17% of all homebuyers were single women – only 7% were single men. The women tended to have children, but more are also drawn to “singledom” lifestyles.
Report: Only the Hispanic ownership rate improved (2/3/2017)
In 2015, the Hispanic homeownership rate was 45.6%; by 2016, it rose to 46.0% – the only ethnic group to increase over the past two years, according to NAHREP.
Water bills set to go even higher (1/31/2017)
Mich. study: 11.9% of U.S. households can’t afford their water bill, but that could rise to 35.6% in five years – and many Fla. areas are considered “high risk.”
Luxury subdivision’s selling point: doomsday-proof (1/26/2017)
“Extreme security” is becoming common in luxury homes. A Texas subdivision with “luxury life assistance” says it can even protect residents from a nuclear attack.
FAU study: Golf courses still boost home prices (1/25/2017)
A drop in demand for the sport of golf hasn’t translated into lower values for homes located in golf course communities, providing the course isn’t shutting down.
Granite countertops take second place to quartz (1/25/2017)
A kitchen designer says 75% of clients now prefer quartz countertops to granite, in part because quartz has greater color consistency and doesn’t require sealing.
Builders to push entry-level market in 2017 (1/24/2017)
The industry needs more entry-level homes. Demand exists, but builders so far have been slow to deliver lower-end housing due to rising land and regulatory costs.
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.
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.