Wednesday, February 10, 2021 / by Bridget Bass
Florida has an historic reputation of being a perfect place for retirement. Hundreds of thousands of people have moved to Florida to retire in this subtropical paradise, especially from Northeastern states like New York, Connecticut, and New Jersey. But the climate isn't the only thing bringing flocks of retirees to FL. In a recent study by WalletHub, Florida was ranked the #1 state to retire in based on a comparison of all 50 states across 45 key indicators that measured affordability, health-care systems, and overall quality of life.
You don't need an in depth analysis to see why Florida has remained the most popular retirement destination in the country. For starters, it's nicknamed "The Sunshine State". Florida residents experience beautiful weather year-round with winter temperatures around 50° Fahrenheit and over 230 days of sunshine compared to the national average of 205, that's almost an extra month of sunny days! That mean. ...
Wednesday, February 10, 2021 / by Bridget Bass
If you're a buyer looking for a home in South Florida, don't wait. Inventory is low with no sign of improvement. Experts say that sales will continue to increase as much as 21.5% by December 2021. If you're a buyer, that means your competition isn't going to go away.
If you're considering waiting until the market cools, all signs say: No! The market isn't going to cool; in fact, it's going to continue strong. Buyers who are financially able to buy now, should.
Here are two reasons why you can't afford to wait:
1. Home values are expected to rise by 10.5% by the end of the year.
Let's say you buy a house today valued at $300,000. Same time next year, that house may be worth $331,500 or more!
2. Today's mortgage rates are low which means you can afford more.
Rates are starting to rise - which means the sooner you buy, the more likely you are to take advantage of lower rates. Lower rates means you can afford more of a home. For example, Zillow reports that today&rsq ...
Friday, October 16, 2020 / by Jordana Tobel
If you're a South Florida agent in the last quarter of 2020, you're probably feeling what we all know to be true -- our inventory doesn't match the current buyer demand.
According to NAR (the National Association of REALTORS®), inventory in July 2020 was 21 percent lower than 2019’s already low levels. Additionally, homeowners are now moving once every 13 years , instead of 8 years (the average in 2010). This makes things even worse.
Buyers are coming from all parts of the country, to live a life outside year-round. 37% of Americans said the pandemic has caused them to consider moving, and 77% of respondents said that, for 2021, they prefer to live in a suburb over a city. People care less about “proximity to work” and more about “living space.” The survey showed that people are looking for:
More square footage
Larger outdoor areas
Lower population density
These are all things that South Florida provides. Now the questi? ...
Monday, August 3, 2020 / by Jordana Tobel
A bad time to sell? Well, no. A bad decision to buy? Absolutely not. What's REALLY happening in the South Florida real estate market?
To those outside the industry, it may feel different but there are facts and circumstances in today's world that simply make this market unlike any other. Those of us who were around for the 2008 Recession may have some moments that feel like deja vu, but the truth is that this is nothing like the last recession.
Let's dispel the top three myths:
MYTH #1. It's a bad time to sell a home.
Yes, we are in a pandemic and unemployment is an issue, however despite that fact, there are many buyers frantically looking for a place to call home. At the same time, many homeowners are choosing not to sell and thus new home listings plunged 14% in early July compared to last year at the same time. Total inventory is also down 32% year over year. That means the current buyer demand is higher than the seller supply.
If you are considering selling, now is a great ti. ...
Thursday, April 9, 2020 / by Jordana Tobel
There are a number of important factors that will prevent a repeat of what happened in 2007 and 2008.
One of those factors is that we learned our lesson. The government is reacting and they are reacting quickly. Just last week, the FHA “immediate foreclosure and eviction moratorium for homeowners for the next 60 days.
In the early 2000s, homeowners were using their homes like ATMs and taking large amounts of cash out. When prices began to drop, those same homeowners didn’t care, they just walked way, they had no skin in the game. Today, the homeowner equity situation is entirely different. As a comparison, from 2005-2007, mericans cashed out over 825 billion worth of equity from their homes. In the last three years, they cashed out only 232 billion, less than 1/3 that amount. Not only that, 37% of Americans have no mortgage at all. Of the remaining 63%, more than 1 in 4 have over 50% equity.
In addition to the factors above, the government is providing small business an. ...