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What’s Up With Housing?

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Millennials still show a preference for conventional loans. In Sept., 68% of all loans were conventional; 27% FHA and 2% VA, reports Ellie Mae, which says the industry should “educate these buyers on the options… available to them.”
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As home prices rose in the years before the Great Recession, complaints about a shortage of “workforce housing” became common in many communities throughout Florida. Those complaints are back again, with a vengeance. In most fast-growing areas of Florida — particularly in South Florida and Orlando — housing affordability for low- and moderate-income workers is a bigger issue than ever.
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The federal government’s clampdown on dirty money in luxury real estate markets in South Florida and other metropolitan areas is ramping up.
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Stackable apartments. Robotic valets. Infrared spas. The future has arrived, haltingly, and this time will be different. Maybe.
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Want to retire comfortably? Millennials should buy a home now, finds a ULI study. Those who postpone a purchase now to save money end up losing out later, because buying young nets a “big bang for the housing buck.”
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The 2018 Houzz Bathroom Trends Study finds homeowners are opting for showers over bathtubs in their master suites. And over half (56%) of baby boomer homeowners are addressing aging-related needs during master bathroom renovations.
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For the second consecutive month, sales and prices showed healthy year-over-year gains in October, with Pinellas County recording its biggest price jump — 13.3 percent — since January.
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What’s Up With Housing?

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Plenty of people love a good Halloween scare — as long no one gets hurt. And that includes your house.
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Not all mortgages are created equal. A LendingTree study looked at lending competition and found Florida buyers can save serious money by comparison shopping.
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If buyer demand continues to outpace the current supply of existing homes for sale, prices will continue to appreciate. Nothing nefarious is taking place. It is simply the theory of supply & demand working as it should.
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Hurricane Irma impacted Florida’s Sept. 2017 housing market and economy. With that in mind, 2018 Florida Realtors data finds existing single-family sales up 17% year-to-year, median prices up 4.9%, condo sales up 14.6% and condo median prices up 5.5%.
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Florida led the nation in construction job growth over the past year, according to a new report. Contractors added 70,700 workers to their Florida payrolls, a 14.8 percent growth rate, in the 12 months ending in September.
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A trend in Central Florida’s two major multifamily growth markets may be indicative of a national shift from downtown to suburban markets.
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Due to Hurricane Irma last September, the Pinellas County housing market saw a few large swings in sales & listings year-over-year.


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What’s Up With Housing?

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The new technology should give buyers new loan options as the ultra-secure platform makes it safer and easier for private individuals to lend money to strangers.
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We will not have a glut of inventory like we did back in 2008 and home values won’t come tumbling down. Instead, if demand weakens, we will return to a normal market (approximately a 6-month supply) with historic levels of appreciation (3.6% annually).
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Florida Realtors Pump Another $500K Into Amendment 2 Push.
Florida Realtors are supporting a proposed constitutional amendment that would make permanent a cap on increasing property taxes for non-homesteaded properties.
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Why this story about the cost and value of innovation matters in housing right now.
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Get ideas for camouflaging your outlets, adding task lighting, and avoiding common kitchen annoyances.
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Rental units are the fastest-growing segment of the housing market. At the same time, the vacation rental marketing is also booming. But which is a better investment: leasing your property to a long-term tenant or renting to travelers on a short-term basis?

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What’s New With The Housing Market?

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There are a number of reasons why lenders turn down mortgage applications, but some of the most common can be avoided quite easily.
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Four Secrets to a Stylish Smart Home.
Smart Home products don’t always prioritize looks. That’s fair, since what most consumers want out of a smart device is brains, not beauty.
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Florida’s housing market reported rising median prices, fewer days to contract and a continuing tight supply of inventory in June, according to the latest housing data.
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Here are the worst mistakes real estate agents say sellers make when listing their homes — and what you should do instead.
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“The good news is that builders continue to report strong demand for new housing, fueled by steady job and income growth along with rising household formations,”

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What’s New With Housing?

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Home sale prices continued to rise both nationally and throughout Florida in April as a prolonged dearth of available homes on the market is making it tough on buyers.
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Building Zero Energy Up to Scale
Zero energy proves a smart strategy for the future of building for both the builder and the user.
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At 100.6, the monthly consumer sentiment index from UF also passed the 100 mark for only the second time since March 2002.
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These new releases for 2018 will have your clients’ K+B spaces sparkling for years to come.
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Everyone likes to travel in style, and hotel designers know how to make getaway spaces feel luxurious.


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What’s Up With Housing?

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Building Permits on the Rise in FloridaFlorida Building Permits Rose 20.8% Year-to-Year.
Home construction continues to lag nationwide, but increases in Fla. and the West are being offset by decreases elsewhere, such as New Hampshire’s 43.1% drop.

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Governor Scott Signs Real Estate-Related Bills Into Law.
New laws will boost flood insurance warnings, tinker with HOA covenant and restriction rules, and change the way Fla. regulates and defines “mortgage lenders.”

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The Pinellas County real estate market is continuing to see higher sale prices and homes moving at a faster rate for both the Single Family and Townhome/Condo markets compared to February 2017.
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As more multifamily developers experiment with modular construction, its use is increasing.
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Did you know that St. Pete offers no-interest loans for qualified first-time home buyers and for qualified homeowners who need help to rehab their houses?
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The premium hikes, which are required by law, will be as little as 2% for some properties and as high as 24% for others. The average increase will be about 8%.


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What’s Up With Housing?

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Some buyers want a newly built home, but today’s tight inventory of existing homes is pushing even more to consider construction. Building a home, however, comes with different challenges, such as greater difficulty finding a willing lender.
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Inventory of homes for sale is still well below the 6-month supply needed for a normal market and supply will ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.
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According to the recent JPMorgan Chase Business Leaders Outlook survey, which showed that about 91 percent of owners of the state’s small- and medium-sized businesses expect local economic conditions to be favorable in 2018.
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Rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.
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“Even considering the recovery from the financial crisis, we are experiencing a boom in home prices.”
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Conference Board: Despite recent stock market volatility, consumers expressed greater optimism about short-term prospects for U.S. businesses and labor markets.