In the face of high interest rates and rising home prices, the typical buyer’s income rose 22% to $107K. 1 out of 3 (32%) was a first-time buyer, and 89% used an RE agent.
11% of metros saw double-digit price increases in 3Q, even though buyers faced a one-year mortgage payment increase of 19.2%. In 2Q, prices rose in only 58% of metros.
Don’t ignore social media and newer forms of marketing, but getting out into the community and holding open houses can be more effective tools for lead generation.
The National Association of Home Builders’ 3Q affordability study found that just 37.4% of Americans can afford a median-priced home in their metro area.
Florida Realtors VP Juana Watkins urged patience in a Thur. webinar, which is now available online. The decision might have an impact but the process will take years.
Under SB 264, property owned by foreign principals used for “bona fide agricultural purposes” must be registered, and it can now be done online.
The RE market is changing rapidly, but seasoned agents have seen that before. Start 2024 by taking stock of the things that worked – and didn’t work – in 2023.
Tracy Kasper calls the ruling “disappointing, (but) just one chapter in a longer legal process.” She answers some key questions, including: How does this affect my business?
In Fla., cash sales dropped year-to-year in only one metro: Fort Lauderdale. The percentage of cash sales ranged from 38.2% in Tampa to 49% in West Palm Beach.
A unanimous House and Senate approved more funding. Floridians who already submitted applications may get recommended storm upgrades with a match up to $10K.
