Oct. 24, 2017 – U.S. housing markets are expected to remain healthy through at least the end of 2018, with no housing bubble in sight and no projection of home prices falling, according to the Fall 2017 edition of The Housing and Mortgage Market Review (HaMMR), released by Arch Mortgage Insurance Company.
“People waiting for home prices to fall before buying may want to change their strategy, as the overall housing market is expected to stay strong for the foreseeable future,” Read Full Article… Search For Your Dream Home in SW Florida…
October 2017 Newsletter Housing Trends eNewsletter
Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.
The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.
</ br></ br> Please click here to view the October 2017 Newsletter Housing Trends eNewsletter.
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WASHINGTON – Oct. 6, 2017 – The Trump administration proposed and end to federal flood insurance for new homes built in high-risk flood areas – a change that could curtail new construction in parts of Florida.
Home builders warned that the plan could stifle the economy and strongly opposed the idea. On the opposite side of the debate, climate activists praised it, suggesting it would put less people in harm’s way…
This could impact the construction of new developments in the near future. Read the Full Article…
BONITA SPRINGS — According to the Bonita Springs-Estero Association of REALTORS® (BEAR) Media Committee, post-storm inventory has not shown a large decrease specifically due to homes affected by Hurricane Irma.
“Comparing inventory on Aug. 31 with inventory as of Sept. 22, we’re seeing just a 10 percent decrease,” stated Jerry Murphy, managing broker, Downing-Frye, Bonita Springs. “This decrease only represents homes indicated with a ‘withdrawn’ status, meaning these homes were withdrawn from an active status most likely due to a temporary situation.”
An example of a temporary situation might be foliage and tree debris from the storm inside communities, which may prevent buyers from entering the community until cleanup is completed, or a minor repair such as pool cage screening.
Just like the weather, Florida’s housing market was hot in July with more closed sales, higher median prices, increased pending sales and more new listings, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 24,546 last month, up 2 percent compared to July 2016.
The statewide median sales price for single-family existing homes last month was $240,000, up 7.1 percent from the previous year.
Inventory remained tight in July with a 3.9-months’ supply for single-family homes and a 5.6-months’ supply for townhouse-condo properties, according to Florida Realtors. View Full Article… Browse For Real Estate in Naples, Bonita Springs & Estero…
SEATTLE – June 30, 2017 – The number of buyers making offers sight unseen – meaning they haven’t physically visited the property – is on the rise, according to a survey of recent home buyers conducted by real estate brokerage Redfin.
Thirty-three percent of respondents in 11 major markets say they made an offer on at least one house sight unseen. These types of offers are more common when working with foreign buyers and in markets where homes are selling quickly, real estate professionals say.
For many buyers, advanced technology has made a physical in-home visit less necessary since they can have many of their questions answered virtually. An increasing use of 3-D photos, video tours and virtual reality give some buyers enough confidence to purchase a home without an in-person showing. According to The Wall Street Journal, some real estate pros are conducting property walkthroughs with long-distance buyers remotely via FaceTime, Skype or WhatsApp. And some agents are working with technology companies to create 3-D photo and video tours within the virtual reality space to make long-distance buyers feel like they’re at the property in person. View complete article: Technology leads more buyers to skip actual home visits View All Residential Listings in Naples, Bonita Springs and Estero…
NABOR (Naples Area Board of REALTORS®) just released today the market report for real estate in the Naples area for April 2017. Here are the principal points of the report. – Overall inventory in April increased 8 percent to 5,920 homes in April 2017 from 5,480 homes in April 2016.
But at the same time: – Inventory decreased for the second consecutive month and prices continued to remain stable in April, setting into motion a burst in end-of-season sales for homes in the market’s sweet spot – the $300,000 to $500,000 price category. – The April report showed a 41 percent increase in pending sales for homes in the $2 million and above price category.
– Most notable was a remarkable 35 percent increase in the $2 million and above condominium inventory for April.
– Homes that are unrealistically priced influenced April’s average days on market, which showed an increase of 35 percent to 97 days in April 2017 from 72 days in April 2016. – Prices overall have remained relatively flat over the last year.
New construction, new communities are booming in the Naples area. Many new communities are under development or are going to be released soon in Naples, Bonita Springs and Estero.
Some builders are offering nice incentives for buyers, but this trend may end soon, as the prices for new construction could start to go higher soon. If prices are going up soon, it can be also a good way for buyers to consider resale properties too.