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What’s New With Housing?

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The first month of summer is when HUD and others mark the importance of owning a home and the impact it has on the lives of American families and local neighborhoods – and how it benefits the nation’s economic health.
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Do America’s for-profit, market-rate leading players need to concern themselves with a growing housing attainability crisis? You bet!
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Developers of Bezu, a condo tower in downtown St. Petersburg, have cut the height from 300 to 180 feet to be more compatible with the historic Flori de Leon next door.
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Piece by piece along a factory line, workers erect walls, string electrical wires, fasten plumbing, hang drywall and paint stackable move-in-ready apartments.
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Did Tax Reform Kill the Luxury Market?  NOT SO FAR!
“We are seeing the opposite of what was expected. We have certainly not seen the doomsday predictions play out.”
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Nineteen local workforce boards are hosting a statewide, construction-industry focused job fair in cities and towns across Florida.
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What’s Up With Housing?

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If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage.
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Exterior maintenance matters. Here are four projects that will boost your home’s curb appeal while curbing the need for costly maintenance down the road.
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The tax reform bill also might be contributing to the growth in home plans. Eighteen percent of the respondents doing projects said they have increased their remodeling budget as a result of their taxes getting lowered.
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In the next few years it might become fast and easy to secure a mortgage as blockchain technology quickly ties all financial accounts into the home transaction.
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It’s anyone’s guess what the coming years will bring in terms of home layouts. For now, here are the five hottest home design trends impacting floor plans in 2018.
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Mortgage Rates FallMortgage Rates Fall For The First Time This Year…
The average rate on a 30-year FRM slipped to 4.44% from 4.46% last week due, in part, to a government report that inflation pressures may be easing.
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Multi-Family TrendsThese Trends Are Radically Disrupting Multifamily Housing.
Renters’ desire for personalization and less stress, integration of AI and IoT into apartment infrastructure, concentration of 35+ age groups will drive multifamily in next 12 years.
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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?

Give Thanks

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The high-end real estate market isn’t just mansions in Miami – a number of multimillion-dollar horse farms with vast acreage have hit the market lately.
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Info on the current state of the market, how expectations regarding market and company performance changes in 2017, long and near-term strategies, and which industry trends are rising and waning.
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It’s not just a new lid on MID that may impact demand for for-sale real estate. Fewer may also qualify for a mortgage. Doubling the standard deduction might go far to improving many households’ net financial gain, but will that be enough to offset the deductability not only of interest on the mortgage, but property taxes as well as state and local tax?  
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Pinellas County Home SalesHurricane Irma Hurt Some Tampa Bay Home Sales Even in October.
According to figures released by Florida Realtors​, sales of single family homes in Pinellas dropped 3.7 percent in October from the same month a year ago. That was not nearly as bad as September’s 25 percent plunge but it reflects the lingering effects of Irma.
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The most attractive features of an apartment unit to renters turn out to be good management, good cell phone reception and a rent that feels reasonable.


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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?

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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.