Tuesday, January 4, 2022 / by Enrique Tejera
A Return to ‘Normal’? The State of Real Estate in 2022
Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9% between August 2020 and August 2021.1
However, there were signs in the fourth quarter that the red-hot housing market was beginning to simmer down. In the month of October, only 60.3% of sales involved a bidding war—down from a high of 74.5% in April.2 While this trend could be attributed to seasonality, it could also be a signal that the real estate run-up may have passed its peak.
So what’s ahead for the U.S. housing market in 2022? Here’s where industry experts predict the market is headed in the coming year.
MORTGAGE RATES WILL CREEP UP
Most economists expect to see mortgage rates gradually rise this year after hitting record lows in late 2020 and early 2021.3
Freddie M/ ...
Thursday, November 18, 2021 / by Enrique Tejera
The Real Estate Market Along Florida's East Coast
Market conditions along the Florida East Coast continued to strengthen in October, with a rebound in sales volume and price gains throughout most neighborhoods. The strong economic conditions, highlighted by a low unemployment rate of 4.7%, and lifestyle continued to attract new residents to the region, adding to the demand for homes. The recovering tourism market, particularly from international travelers, will improve economic conditions and potentially return a missing demand segment to the market.
Sales activity stabilized in October, changing little from the previous month. In October, more than 9,700 single family homes and condos sold along Florida’s East Coast. While closed sales fell by 13% compared with last year, sales velocity last fall was influenced by pandemic-related purchases and migration. Compared to 2019, when market conditions could be considered more normal, sales were up by 11%. By property type, condo ...
Tuesday, October 5, 2021 / by Enrique Tejera
Shut Down Home Intruders With These 7 Safety Strategies
According to the FBI, more than one million burglaries are committed in the United States each year, with victims suffering an estimated $3 billion in combined property losses.1 Fortunately, there are some proven tactics you can use to decrease your likelihood of a home invasion.
Most burglars won’t go to extreme lengths to enter a residence. They are looking for easy access with minimal risk. A monitored security system can be an effective deterrent—homes without one are 300% more likely to be burglarized—but it isn’t the only way to protect your property.2 The strategies below can help to maximize your home’s security and minimize your chances of being targeted by intruders.
Thinking about listing your home? We have some additional recommendations for you. Contact us to find out the procedures we use to keep our clients and their property safe and secure during the buy; ...
Monday, September 20, 2021 / by Enrique Tejera
The Real Estate Market Along Florida's East Coast
The housing market has strengthened through late summer with buyers matching and exceeding the number of sellers in most neighborhoods and price ranges.
The typical seasonal pattern of moderating sales volume and pricing took hold in August, and will likely continue through the end of the year. The return of seasonal trends underscores a shift towards a normalized housing market from pandemic driven extremes.
The regional economy continued to expand, albeit at a muted pace given the rise of the COVID-19 delta variant. Although some tourism activity was held in check, the regional unemployment rate improved to 4.5%, quickly approaching the pre-pandemic level.
As the summer ends, sales of single family homes usually slow down. This was also the case with home sales this August, which totalled 10,821 homes. That's a 7% decrease compared with July. However, the winter season also brings to Florida tourists and residents from the North ...
Sunday, September 5, 2021 / by Enrique Tejera
9 Tips for Buying and Selling Your Home at the Same Time
Selling your home when you still need to shop for a new one can feel daunting to even the most seasoned homeowner––especially when the demand for new homes keeps rising, but the supply feels like it's dwindling¹. You're not alone either if you're already feeling drained by the complex logistics of trying to sell and buy a new home all at once.
Searching for a new home can be exciting, but many homebuyers admit that it can also be stressful, especially if you live in an unpredictable market with plenty of competitors. Unfortunately, waiting out a competitive housing market isn’t always the best idea either since listings are expected to remain limited in the most coveted neighborhoods for some time.²
That doesn't mean, though, that you should just throw up your hands and give up on moving altogether. In fact, as a current homeowner, you could be in a better position than most to cap; ...