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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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What’s Up In Housing?

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St Petersburg CondominiumsDowntown St. Petersburg’s condo boom shows no signs of slowing.
St. Petersburg downtown condo boom is more torrid than ever.
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Rising Interest RatesInterest Rate Hike No Surprise and Will Be Easily Digested.
Real estate industry insiders do not anticipate much of a negative impact on the sector as the increase has been expected for a long time and in many cases, already priced into current transactions.
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Fixer-UpperBefore You Buy a Fixer-Upper, Read This.
Want to buy a fixer-upper? First, read this to save yourself a ton of cash—and headaches, too.
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Home Prices Over the Next 5 YearsWhere Do You Think Home Prices Will Be in 5 Years?
Looks like the average annual appreciation will be 3.24% over the next 5 years with the biggest increase in 2017.
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Millennial HomebuyersYou May Have Heard Enough About Millennials – But This You Don’t Want to Miss.
This Metrostudy report reveals data specific to housing.

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Interesting Housing News

 

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Top Commercial Tampa Bay ProjectsThis Top 10 list of real estate developments in Tampa Bay shows just how much this area is taking off.
A cool commercial project here, another there. That’s great. But it’s easy to miss the critical mass gathering in Tampa Bay without looking at the area’s best and biggest commercial real estate developments.

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Rising Home PricesAre Rising Prices Scarier Than Rising Interest Rates?
If you’re deciding between renting and buying during Halloween, home prices are your greatest fear.
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Pinellas Realtor OrganizationPinellas Realtor Organization’s Standout Stat for September 2016…
Median Sale Price for Single Family is up 16.6% Year Over Year:  Sept. 2016 – $221,475 … Sept 2015 – $190,000
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Empty Nesters Housing ImpactEmpty Nesters Poised to Make Major Housing Impact.
The population change for seniors, who are defined in this context as 55-plus, is higher than the percentage change for the US population.

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Private Mortgage NotesHow Millennials Are Circumventing the Mortgage Process…
Student loan debt and credit card bills are making it hard for Gen Y to get bank mortgages. Many are turning to private mortgage notes to get around this.
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Tropicana Field SiteTropicana Field 86-acre site vision splits development and public space 60/40.
HKS Architects is putting the final touches on a Trop site master plan that includes a new baseball stadium, towering office buildings, acres of new park space, housing, entertainment and retail.

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Housing News of Interest

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Inexpensive Home Projects6 Home Projects That Cost Less Than a TV
Giving your home a little extra “umph” doesn’t have to cost thousands of dollars. In fact, you can dramatically improve the looks of your home for less than the cost of a new TV.
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Florida's Home PricesFlorida’s home market sizzled in the past year
The state’s home prices rose 9.95% from mid-2015 to mid-2016, the fourth-best showing in the U.S., according to the latest home price index.

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Housing IssuesWhy housing doesn’t care about the Fed
Home sales, home construction and the whole housing economy are dealing with all kinds of pressing issues that take precedence over mortgage rates.
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Rising Interest RatesThe Good and Bad of Rising Interest Rates
Whether interest rates are good or bad can all come down to your generation. Because people spend, borrow, save and invest in different ways at different points in their lives, it is worth examining how each generation stands to be affected.
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Tampa Bay Home PricesTampa Bay home prices soared nearly 20% in August, outpacing all other metro areas in Florida
The big year-over-year price gain was great news for sellers, pushing the bay area’s median price for single-family homes to $209,900 with even higher amounts in Hillsborough and Pinellas counties.

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Housing News of Interest

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First Time HomebuyerFirst-time buyers are slowly re-emerging.
In Aug. 2015, 35% of homebuyers identified as first-time buyers; one year later, that has increased to 51%. But many still face financial challenges.

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Interest RatesHow Long Do You Think Interest Rates Will Remain at Historic Lows?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment; The higher the rate, the greater your payment will be.
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Student HousingStudent Housing Gets an Upgrade.
As college enrollments rise, residential developers are adding more and fancier amenities to student housing, from en suite baths to in-unit washers and dryers.
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Most Walkable NeighborhoodsDowntown St Petersburg Named 3rd Most Walkable Neighborhood in Florida.
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Love of DronesThe Construction Industry Is in Love with Drones.
For builders, drones provide a wide variety of returns on investment. Drones are cheaper to fly than piloted aircraft, conduct surveys more quickly, and collect more data more frequently.
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Housing News of Interest

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Florida Association of Realtors4 out of 5 people think homeownership a good investment.
NAHB: “Most Americans believe owning a home remains an integral part of the American Dream” – policymakers need to encourage and protect homeownership.

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Trending Bathroom PhotosTop 10 Trending Bathroom Photos on Houzz
Whether you love sleek contemporary washrooms or rustic loos, Houzz has you covered. Here are great ideas featured in the most popular bathroom photos over the past three months.

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Janet YellenThe Case for a Rate Hike Has Strengthened…
The case for raising U.S. interest rates has strengthened in recent months because of improvements in the labor market and expectations for moderate economic growth, Federal Reserve Chair Janet Yellen said Friday.
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Urban Millennials

Millennial Preferences Are Reshaping U.S. Cities
’18-hour cities’ lure millennials with better career and lifestyle options and a mix of housing, retail, entertainment and green-space options.

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PRO LogoPinellas County Real Estate Statistics for July 2016
This summer the Pinellas County Housing Market has been nothing short of sizzling. For July we see some stats start to cool off, but every indication remains that our market continues to be strong.

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Construction DetailsSuccess is in the Details: Understanding Your Product at a Micro-Level
When it comes to selling homes, our knowledge of the building process can be the difference between making a successful sale and not.

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Recent Housing News

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Skilled Construction Labor Shortage in FloridaFlorida construction companies struggle to find skilled workers.
Demand for residential construction workers in Florida is projected to jump 40 percent — or 66,000 employees — from 2014 through the end of this year.

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Interest RatesMillennials Fear 5% Mortgage Rates…
47% of all buyers said they’d look for a less expensive house if rates rose by a point or more.  Rates have been below 4% since December, but the thought of rising rates is enough to convince millennials to look for a cheaper house or not buy one entirely.
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Florida's GDPFlorida GDP Outpacing U.S. Thanks to Strong Real Estate, Construction.
Florida’s GDP growth of 2.1% in the 1Q of 2016 not only outpaced the country as a whole, but all of the other top population states and every state in the Southeast but one.

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Money LaunderingFeds expand crackdown on secret real estate deals (money laundering) beyond Miami and Manhattan.
In Florida, if an all-cash real estate deal in Miami-Dade, Broward and Palm Beach counties exceeds $1 million, then buyers’ identities will have to be reported.
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Florida Association of RealtorsHave interest rates hit bottom? Hard to tell.
It seems like the Fed is “as befuddled as the rest of us” and the timeframe for when rates will return to “normal” could be longer than anyone can predict.
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http://www.TitleSecurityFL.com