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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.
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What’s Up With Housing?

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“Convenience is one of the most attractive qualities to Millennials and something real estate developers should keep in mind…”
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NAR says the just-announced tax proposal is “nowhere near as good a deal as the one middle-class homeowners get under current law.” NAHB says it “abandons middle-class taxpayers in favor of high-income Americans and wealthy corporations.”
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Would you live in a shipping container? Check out these inventive recycled container designs.
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Pet owners face unique challenges when buying and selling a home. Not all neighborhoods, houses or condos will love their dog as much as they do.
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If you’re thinking of selling and moving down, waiting might make sense. If you are a first-time buyer or a seller thinking of moving up, waiting probably doesn’t make sense.
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NAR: Before its Dec. 8 expiration date, NFIP will likely be OK’d for another extension to give Congress time to finalize a longer-term revamp of the program.
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What’s Up With Housing?

 

Demand for single-family homes declines along with fertility rates, and changing U.S. demographics could boost demand for townhouses and condos.
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Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings.
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Tuesday’s topics of discussion ranged from how to tackle the homelessness epidemic in major U.S. cities to whether crowdfunding has a place in the commercial real estate industry.
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Tampa Bay has more zombies — of a certain kind — than most anywhere.


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Interesting Housing News From This Past Week

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Developer TaxesHow Real Estate Developers Pay Less Tax
Donald Trump’s taxes, or lack thereof, spotlight how real estate developers legally avoid taxes that companies in other businesses would ordinarily have to pay. These tax laws keep real estate business in play, which means they can continue employing workers and hiring contractors and investing in new projects.

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Solar Panels in FloridaFlorida is the Sunshine State. Why Is It So Hard to Get Solar There?
To make solar panels affordable, many rooftop solar users sell excess electricity back onto the grid. But Florida doesn’t allow that yet.
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Housing InventoryHousing isn’t running out of steam despite low inventory.
Between household balance sheets being healthy and the labor market continuing to make progress, Goldman Sachs says it believes the “fundamentals of the housing recovery remain solid.”
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CFPB LogoCourt: Consumer Watchdog Structure Ruled Unconstitutional.
A federal appeals court ruled CFPB’s structure – the U.S. consumer bureau with oversight over RESPA rules and most financial companies – is unconstitutional because it gives too much power to a single agency director.
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Future City DevelopmentSix Things You Should Know About Future City Development.
The past decade and a half has been marked by the “back to city movement,” and young people are leaving suburbs in droves.
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Interesting Housing News From This Past Week

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Housing InventoryStrong Buyer Demand Continues to Outpace Inventory of Homes for Sale.
Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase.
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Healthy HouseAdvocating for Clean Air in Homes
Homes can be improved with two changes: the right ventilation and the right sealing. Ventilation and sealing improvements lead to cost reductions for the builder and also for the consumer over time.

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Sherwin-William's 2017 Color ForecastSherwin-William’s 2017 Color Forecast
This Colormix™ Forecast for Homeowners combines self-expression and soulful nostalgia creating inspirational palettes with the future of color.

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Millennial Student DebtMillennial Student Debt Impacts Many People.
LendingTree: In Florida (No, 9 nationwide), the average graduate owes $28,768, and 45.31% say it will delay a home purchase decision. But the impact extends beyond housing as young adults spend less elsewhere too.
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Millennial FriendsRealtors Need to Do More to Connect with Millennials.
Millennials are young, smart, and digital savvy, but the real estate agents trying to sell them houses are often out of touch with this generation. They could also use a little help from Lenders to get this them to buy more homes.
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NY SkylineIs It Time for Real Estate Investors to Hit the Panic Button? That’s What They Want You to Think.
It is prudent to look well past one economic cycle when considering a real estate investment. Beware of self-appointed “economists” who come out with dire exhortations in the media to garner attention.
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Recent Housing News

 

Floor Plan NinjaRealtors: How would you like a Ninja as a reliable friend?
Please come to Tuesday’s ‪‎Coffee Corner‬ and learn how Floor Plan Ninja can make you more successful.

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Home Equity PostGreat News! Florida consumer sentiment rises in March.
The biggest spike was in Floridians’ one-year expectation for personal finances, which rose 6.1 points. Overall, the index was 1.6 points higher than in Feb.

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Dream HomeMore & More Singles Are Falling For Their Dream Home  

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Millennial HomebuyersHow Boomers Can Appeal to Millennial Home Buyers…
Showing that the property can accommodate a party and is tech friendly are a few ways to appeal to younger house hunters.
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Housing Forecasts5 Forecasts for Housing Over the Next Five Years.
National Residential Economic Report sees a mostly healthy housing market, with a few caveats.
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Improving Housing MarketThe Housing Market is Poised to Continue Improving…

Analyst expects more sellers to enter the market as prices rise, easing inventory shortages.

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Vacation & Investment Home 2016 SurveyVacation Home Sales Slow Down, While Investment Sales Surge.
Prices rise for both as an inventory squeeze becomes apparent. The South, particularly Florida, was the most popular destination for vacation buyers.
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Home CreditMortgage lending grew by 43% in 2015.   Contrary to some fears that the Consumer Financial Protection Bureau’s new disclosure rules would severely dampen mortgage lending in 2015, a new report from Equifax shows that exactly the opposite took place, as mortgage lending grew by a drastic margin in 2015.
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Recent Housing News

Where Are The Sellers?Where Have All the Sellers Gone? 6 reasons for low inventory.  Factors influencing the lack of homes on the market include homeowners who are still underwater on their mortgages and not enough new-home construction.

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Housing CrisisHas Housing’s Crisis Ended?  Supply of entry-level homes continues to plague the market.
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Home Equity PostHome equity surges by more than $1 trillion.  CoreLogic: American homeowners now have about $1.2 trillion dollars more than they had a year ago thanks to rising home values – double the amount since 2011.

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Mortgage Interest RatesMortgage Rates Continue Falling…  30-year drops to 3.83%; jumbo down to 3.76%.  At the current average 30-year fixed mortgage rate of 3.83 percent, the monthly payment for a $200,000 loan is $935.33.

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Millennials are showing signs of financial prudence.Millennials Saving More than Older Cohorts.  Only half of adults 30 and older save more than 5% of their income annually, but 3 in 5 millennials are doing so, according to a study… Millennials are showing signs of financial prudence.

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