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What’s Up With Housing?

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According to Freddie Mac’s Outlook for Sept., new homes will be a primary driver of sales and slightly higher mortgage rates will dampen price increases. But “the economic environment remains favorable for housing,” says chief economist.
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While far from new, eco-friendly and affordable, shipping containers are gaining popularity as an alternative to traditional houses.
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Finding out that you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.
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As Congress and the Trump Administration release plans for tax reform, NAR says it will fight to make sure any new tax plan doesn’t discourage homeownership.
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Both on 4th Ave N, The Bezu, is a 24-unit tower close to Beach Drive, and 747 North, an 18-unit project several blocks to the west.
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What’s Up With Housing?

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Homeowners in Florida are finding that homes built to the stricter building codes seem to have fared better during Hurricane Irma.
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NAR’s Call for Action ended Friday. While NAR initially hoped to pass a comprehensive flood bill that lasted years, Harvey aid and Irma’s impending threat last week convinced Congress to postpone major changes. NFIP now expires in December.
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Florida’s housing market continued its positive track in August, with more closed sales, increased pending sales, more new listings and rising median prices.
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FHA loans require a post-disaster inspection in declared catastrophe areas, but a rule that could delay closings has been waived.
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PRO LogoPinellas County Real Estate Statistics for August 2017
Here’s the Stand-Out Stat for August 2017: Median Time to Sale for Single Family Homes was 63 days down 13.7% from 73 days in August 2016.
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Now that the “big one” has finally happened how can you protect yourself?


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What’s Up With Housing?

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With the following apps, you can get organized (whether you plan to buy or sell), save money, learn about the homes in your neighborhood and get inspired for your next renovation project.
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If you are thinking of selling, FSBOing may end up costing you money instead of saving you money.
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The government’s Home Affordable Refinance Program was all set to end next month, September 30, to be exact, but that’s not the case anymore.
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Could those dramatic gains in Tampa Bay home prices really be slowing down? July sales figures hint that the long-running sellers’ market might be shifting more in favor of buyers.
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Gen Y HomebuyersWill the Generation After the Millennials Own Homes?
“Given Generation X has a high homeownership rate and Generation Y is expected to as well I would expect nothing different from the youngest generation”
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What’s Up With Housing?

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Some buyers love the idea of farm living providing it’s in the heart of the suburbs. Like golf communities, agrihoods focus on nature but also sell organic food.
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After falling for the last 10 years, the home-ownership rate increased during the first half of 2017.
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With 10,000 boomers retiring each day, builders remain confident. NAHB’s 2Q 55+ index not only rose 11 points, it’s been in positive territory for over four years.
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What Do Buyers Want More — A Bigger House or a Bigger Yard?
Turns out a big yard gives homeowners the extra ‘breathing room’ they want.
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Siding, Paint, Roofing, Wallboard Join Lumber as Input Inflation Drivers.
As 2018 budget season arrives, it’s time to both model in and do something about cost escalation on building products and materials.
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Tampa Bay Has Two New Million-Dollar ZIP Code Areas — Is Yours One of Them?
The addition of St Petersburg’s 33701 to the million-dollar ZIP list reflects the huge demand for luxury condos along Beach Drive with its waterfront views and wealth of restaurants.
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What’s Up With Housing?

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Survey: A top reason 1 out of 3 millennials buy a first home is to provide a yard for their dog. As a motivator, it outranked marriage and raising children.
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ROI of Sustainability is More Complex Than You Think.
The value of energy efficiency and sustainability can prove to be greater, more lucrative or more complex than it appears on the surface.
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In the second quarter of 2017, the Florida housing market had more closed sales, higher median prices and more pending sales, according to Florida Realtors.
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Florida Leads Nation in Foreign Residents Buying and Selling.
Foreign investors want to buy in Florida, but they also want to sell Fla. property when the income potential is right – and many Canadians think that time is now.
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It might not be “Plan A,” but some Millennials that return home after college are turning it into a positive stay by saving enough cash to buy homes.


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What’s Up With Housing?

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The bill working its way through Congress has “significant improvements,” including a commitment to protect current owners from substantial rate increases.
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For the sixth consecutive month, May home prices venture into record territory.
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The CFPB recently loosened rules, and agents now have easier access to the closing disclosure providing certain private information is removed. However now, as before, the lenders decide how to handle it.
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According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.
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For the second time in six weeks, a company connected to the same lawyer stood poised to profit from a Pinellas County foreclosure auction that confused even experienced real estate investors.
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It’s cheaper to rent than own a home in 11 states, but Florida’s average monthly rent, $1,543, is still higher than the cost of an average monthly mortgage: $1,376.


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What’s Up With Housing?

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The latest County numbers are in for June and they show that the market continues to hold strong, including the highest Closed Sales figure for the Single Family Homes segment since at least 2009.
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Instead of dormitory-style buildings, flexible mass-produced housing pods might offer a way to sidestep zoning code barriers and get people off the streets.
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What do Americans click most on home remodeling websites? Currently, they’re drawn to modern, high-end finishes, spa-like bathrooms and chic industrial features.
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Once in the top five nationally for foreclosure filings, the Tampa Bay area no longer makes even the top 25.
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Lower Mortgage RatesMortgage rates drop below 4%.
After two weeks of increases that took the 30-year fixed-rate mortgage to 4.03%, it dropped back this week to an average 3.96%.
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