Search Results for: market report

Florida Single Family Home Sales 2018 Yearly Review

Florida Single Family Home Sales 2018 Yearly Review

The Florida Single Family Home Sales 2018 Yearly Review as reported by Florida Realtors shows that this last year continued the positive momentum with a slightly greater rate than last year.   Year to year closed sales were up by 2.2% (was up by 1.2% in 2017) and new sales under contract (new pending sales) increased by 0.3% (was up by 0.1% in 2017).

Florida Single Family Home Sales 2018 Yearly Review

Both median and average sales prices were up (2017 to 2018) by 7.2% and 6.9% respectively.   Showing continued gains in value though at a slightly lower rate than last year.  These numbers were 8.0% and 7.8% respectively in 2017.

The inventory of available homes for sale increased by 11.1% from 2017.  While the month’s supply of homes increased to 4.0 months.  Indicating that Florida single-family homes remain in a seller’s market.

Click here to view or download the full report:
Florida Single Family Home Sales 2018 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Single Family Home Sales 2018 Yearly Review

How to Stage a Home for Sale

staging bedroom

Image via Pexels

Maximizing Your Greatest Asset:

How to Stage a Home for Sale

 There aren’t a lot of homes on the market these days, which means buyers can’t afford to take their time when finding the home of their dreams. However, you can still expect prospective buyers to look into every corner of your home and critique any flaw they see. As any realtor will tell you, your property has to be in pristine condition if you hope to turn heads and get a deal done. Making that happen depends to a very large extent on how well your home has been staged and whether you’re able to make a lasting and positive impression. Consider these tips from your REALTOR® Gabe Sanders for getting a home in tip-top shape.

Delight the Drive-Bys

The first thing passersby see, and your best chance for creating initial interest, is your property’s exterior. Chipped and dingy paint, indifferently cared-for landscaping and dirty siding can mean the “For Sale” sign will probably remain in the front yard for more time than you would like. Do everything you can to delight the drive-bys, the people out looking for a house that jumps out at them. Give the front door a nice, fresh coat of paint, add a new stand of colorful flowers near the entryway, and keep the yard picked up and well-manicured. If house numbers are falling off or damaged, replace them with shiny, reflective ones. It’s well worth your while to ensure your home’s exterior is immaculate. It’s your chance to make a great first impression and leave buyers anxious to see more.

Declutter and Organize

Buyers are looking for a home with plenty of space and flow, which means you should declutter and keep the number of items in each room to a minimum. Oversized furniture should be stored away while your home is being shown, loose objects must be picked up and organized, and personal items should be removed or de-emphasized. Buyers want to see an organized space, one that conveys a positive message about the job you’ve done maintaining the property. Consider having your home professionally cleaned, including carpeting, air ducts, vents, and furniture. The average price of a one-time house cleaning ranges from $93 to $171, in Stuart, Florida, and is a small price to pay to save time and sanity.

Take Care of Basic Maintenance

Visitors will certainly notice if you have leaky faucets or chipped tile in the kitchen. Take the time to make a room-by-room assessment of problems that would jump out if you were a buyer. Prepping a home for sale doesn’t mean you have to make expensive renovations, but it does mean you have to take care of repair issues — even insignificant ones. Left unattended, they send a negative message about the overall condition of your home.

Bath and Kitchen Improvements

Most homeowners will be more interested in your kitchen and bathroom space than any other part of the house. While it probably isn’t a good idea to invest heavily in new cabinets or install a jacuzzi, it’s a great idea to make minor improvements. Consider replacing faucet fixtures and doorknobs, replace your kitchen countertops with an appealing granite countertop, and upgrade the lighting.

Fresh Paint

Nothing freshens up a lived-in property quite like a new coat of paint. It makes your home look clean and new and, with a neutral or light shade applied throughout your home’s interior, potential buyers will be able to imagine how they’d transform your space. Consider repainting a room that has an experimental shade of lavender with a light gray or beige; you don’t want an outrageous color to distract a potential buyer.

A well-staged house can help you get maximum value from your home. It’s an essential step in the selling process and perhaps the single most important thing you can do to market your property. Make the most of the opportunity.

 

Article provided by Natalie Jones from HomeownerBliss.info.

St Lucie County Townhouse and Condo Sales 2017 Yearly Review

St Lucie County Townhouse and Condo Sales 2017 Yearly Review

For the St Lucie County Townhouse and Condo Sales 2017 Yearly Review had stronger activity when compared to 2016.  Year to year closed sales was up by 5.4% as compared to 2016 which saw a decrease of 6.6% and new sales under contract (new pending sales) increased by 6.0% (2016 saw a decrease of 11.5%).

St Lucie County Townhouse and Condo Sales 2017 Yearly Review

Both median and average sales prices increased significantly (year to year) by 18.9% and 13.0% respectively (2016 numbers were 5.9% and 2.9%).  Prices continue to rise.

Inventory decreased by 5.7% as compared to 2016’s increase of 8.1%. While the supply of inventory decreased to 5.1 months as compared to 5.7 months for 2016.  An even stronger seller’s market for Saint Lucie County townhouses and condos but approaching a balanced one.

 To view the full report click on the graphic above or the link below:
St Lucie County Townhouse and Condo Sales 2017 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

St Lucie County Townhouse and Condo Sales 2017 Yearly Review

St Lucie County Single Family Home Sales 2017 Yearly Review

St Lucie County Single Family Home Sales 2017 Yearly Review

The St Lucie County Single Family Home Sales 2017 Yearly Review as reported by Florida Realtors indicates that Saint Lucie County had improved market activity for single family homes throughout the year of 2017.   Year to year closed sales was up by 4.3% (was down by 1.6% in 2016) and new sales under contract (new pending sales) increased by 0.8% (was down by 3.8% in 2016).

St Lucie County Single Family Home Sales 2017 Yearly Review

Both median and average sales prices were up (2016 to 2017) by 13.9% and 10.6% respectively.   Showing strong gains in value, but not quite as much as in the last two years.  These numbers were 16.1% and 15.9% respectively in 2016.

The inventory of available homes for sale decreased by 8.5% from 2016 (When there was a 6.6% increase).  While the months supply of homes dropped to 3.4 months from 3.9 months for 2016.  Still in a strong sellers market for Saint Lucie County.

To view the full report click on the graphic above or the link below:
St Lucie County Single Family Home Sales 2017 Yearly Review

To view the complete set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

St Lucie County Single Family Home Sales 2017 Yearly Review

Martin County Townhouse and Condo Sales 2017 Yearly Review

Martin County Townhouse and Condo Sales 2017 Yearly Review

For the Martin County Townhouse and Condo Sales 2017 Yearly Review showed considerably better activity when compared to 2016 for this segment of the Martin County real estate market.   Year to year closed sales was up by 6.7% as compared to 2016 which was down by 8.6% and new sales under contract (new pending sales) increased by 1.0% (2016 saw a decrease of 6.2%).

Martin County Townhouse and Condo Sales 2017 Yearly Review

Both median and average sales prices were up (year to year) by 3.3% and 2.4% respectively (2016 numbers were 4.2% and 7.5%). Not as large an increase as in previous years which is much more sustainable.

Inventory decreased by 7.3% as compared to 2016’s decrease of 14.2%. While the supply of inventory dropped to 4.0 months as compared to 4.6 months for 2016.  Remaining in a seller’s market for Martin County townhouses and condos.

 To view the full report click on the graphic above or the link below:
Martin County Townhouse and Condo Sales 2017 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Martin County Townhouse and Condo Sales 2017 Yearly Review

Martin County Single Family Home Sales 2017 Yearly Review

Martin County Single Family Home Sales 2017 Yearly Review

The Martin County Single Family Home Sales 2017 Yearly Review as reported by Florida Realtors showed better activity when compared to 2016 for the Martin County single family housing market.   Year to year closed sales was up by 2.7% (was down by 4.1% in 2016) and new sales under contract (new pending sales) decreased by 0.3% (was down by 8.1% in 2016).

Martin County Single Family Home Sales 2017 Yearly Review

Both median and average sales prices continued to rise (2016 to 2017) by 8.7% and 9.4% respectively.  These values were 4.3% and 0.0% respectively in 2016.

The inventory of available homes for sale decreased by 7.3% from 2016.  While the months supply of homes decreased to 4.5 months.  Still a seller’s market.  Typically a 6 month inventory indicates a balanced market where neither the seller or buyer has an advantage.

To view the full report click on the graphic above or the link below:
Martin County Single Family Home Sales 2017 Yearly Review

To view the complete set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Martin County Single Family Home Sales 2017 Yearly Review

Florida Townhouse and Condo Sales 2017 Yearly Review

Florida Townhouse and Condo Sales 2017 Yearly Review

The Florida Townhouse and Condo Sales 2017 Yearly Review showed improved results from last year.   Year to year closed sales were up by 2.9% as compared to 2016 which saw a decrease of 4.2% and new sales under contract (new pending sales) decreased by 2.3% (2016 saw a decrease of 7.4%).

Florida Townhouse and Condo Sales 2017 Yearly Review

Both median and average sales prices were up (year to year) by 7.8% and 6.5% respectively (2016 numbers were 6.7% and 1.1%).

Inventory decreased by 4.0% as compared to 2016’s increase of 7.9%. While the supply of inventory dipped to 5.6 months as compared to 6.0 months for 2016.  A seller’s market for Florida townhouses and condos.

 Click here to view or download the full report:  Florida Townhouse and Condo Sales 2017 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Townhouse and Condo Sales 2017 Yearly Review

Florida Single Family Home Sales 2017 Yearly Review

Florida Single Family Home Sales 2017 Yearly Review

The Florida Single Family Home Sales 2017 Yearly Review as reported by Florida Realtors shows that this last year continued the positive momentum with slightly greater rate than last year.   Year to year closed sales were up by 1.2% (was up by 0.9% in 2016) and new sales under contract (new pending sales) increased by 0.1% (was down by 4.1% in 2016).

Florida Single Family Home Sales 2017 Yearly Review

Both median and average sales prices were up (2016 to 2017) by 8.0% and 7.8% respectively.   Showing continued gains in value.  These numbers were 12.2% and 6.2% respectively in 2016.

The inventory of available homes for sale decreased by 7.1% from 2016.  While the months supply of homes decreased to 3.6 months.  Indicating that Florida single-family homes are still in a seller’s market.

Click here to view or download the full report:
Florida Single Family Home Sales 2017 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Single Family Home Sales 2017 Yearly Review

St Lucie County Townhouse and Condo Sales 2016 Yearly Review

St Lucie County Townhouse and Condo Sales 2016 Yearly Review

For the St Lucie County Townhouse and Condo Sales 2016 Yearly Review had weaker activity when compared to 2015.  Year to year closed sales were down by 6.6% as compared to 2015 which saw a decrease of 0.9% and new sales under contract (new pending sales) decreased by 11.5% (2015 saw a decrease of 7.9%).

Saint Lucie County Townhouse and Condo Yearly Review

Interestingly both median and average sales prices were up (year to year) by 5.9% and 2.9% respectively (2015 numbers were 1.8% and 7.0%).  Prices continue to rise.

Inventory increased by 8.1% as compared to 2015’s decrease of 20.5%. While the supply of inventory increased to 5.7 months as compared to 4.9 months for 2015.  Still in a seller’s market for Saint Lucie County townhouses and condos but approaching a balanced one.

 To view the full report click on the graphic above or the link below:
St Lucie County Townhouse and Condo Sales 2016 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

St Lucie County Townhouse and Condo Sales 2016 Yearly Review

St Lucie County Single Family Home Sales 2016 Yearly Review

St Lucie County Single Family Home Sales 2016 Yearly Review

The St Lucie County Single Family Home Sales 2016 Yearly Review as reported by Florida Realtors indicates that Saint Lucie County had slower market activity for single family homes throughout the year of 2016.   Year to year closed sales were down by 1.6% (was down by3.2% in 2015) and new sales under contract (new pending sales) decreased by 3.8% (was down by 16.9% in 2015).

Saint Lucie County Single Family Yearly Review

However both median and average sales prices were up (2015 to 2016) by 16.1% and 15.9% respectively.   Showing strong gains in value.  These numbers were 16.9% and 17.2% respectively in 2015. These continued strong increases in values is one reason why the rate of sales has fallen for 2016 as homes become more expensive and less affordable.

The inventory of available homes for sale increased by 6.6% from 2015 (When there was a 0.3% increase).  While the months supply of homes increased slightly to 3.9 months from 3.6 months for 2015.  Still in a strong sellers market for Saint Lucie County.

To view the full report click on the graphic above or the link below:
St Lucie County Single Family Home Sales 2016 Yearly Review

To view the complete set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

St Lucie County Single Family Home Sales 2016 Yearly Review

Martin County Townhouse and Condo Sales 2016 Yearly Review

Martin County Townhouse and Condo Sales 2016 Yearly Review

For the Martin County Townhouse and Condo Sales 2016 Yearly Review showed weaker activity when compared to 2015 for this segment of the Martin County real estate market.   Year to year closed sales were down by 8.6% as compared to 2015 which saw no change and new sales under contract (new pending sales) decreased by 6.2% (2015 saw a decrease of 9%).

Martin County Townhouse and Condo Yearly Review

Both median and average sales prices were up (year to year) by 4.2% and 7.5% respectively (2015 numbers were 20.0% and 12.9%). Not as large an increase as in previous years.

Inventory increased by 14.2% as compared to 2015’s decrease of 19.3%. While the supply of inventory rose to 4.6 months as compared to 3.7 months for 2015.  A sellers’ market for Martin County townhouses and condos.

 To view the full report click on the graphic above or the link below:
Martin County Townhouse and Condo Sales 2016 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Martin County Townhouse and Condo Sales 2016 Yearly Review

Martin County Single Family Home Sales 2016 Yearly Review

Martin County Single Family Home Sales 2016 Yearly Review

The Martin County Single Family Home Sales 2016 Yearly Review as reported by Florida Realtors showed weaker activity than 2015 for the Martin County single family housing market.   Year to year closed sales were down by 4.1% (was up by 12.1% in 2015) and new sales under contract (new pending sales) decreased by 8.1% (was up by 4.2% in 2015).

Martin County Single Family Yearly Review

Both median and average sales prices continued to rise (2015 to 2016) by 4.3% and 0.0% respectively.   A much more moderate rate of increase.  These values were 4.4% and 15.2% respectively in 2015.

The inventory of available homes for sale increased by 7.4% from 2015.  While the months supply of homes increased to 5.0 months.  Still a sellers’ market.  Typically a 6 month inventory indicates a balanced market where neither the seller or buyer has an advantage.

To view the full report click on the graphic above or the link below:
Martin County Single Family Home Sales 2016 Yearly Review

To view the complete set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Martin County Single Family Home Sales 2016 Yearly Review

Florida Townhouse and Condo Sales 2016 Yearly Review

Florida Townhouse and Condo Sales 2016 Yearly Review

For the Florida Townhouse and Condo Sales 2016 Yearly Review for the state of Florida had a slower year than recent previous years.   Year to year closed sales were down by 4.2% as compared to 2015 which saw an increase of 6.1% and new sales under contract (new pending sales) decreased by 7.4% (2016 saw a n increase of 0.4%).

Florida Townhouse and Condo Yearly Review

Both median and average sales prices were up (year to year) by 6.7% and 1.1% respectively (2015 numbers were 7.1% and 3.7%).

Inventory increased by 7.9% as compared to 2015’s decrease of 1.8%. While the supply of inventory rose to 6.0 months as compared to 5.3 months for 2015.  A balanced market for Florida townhouses and condos.

 Click here to view or download the full report:  Florida Townhouse and Condo Sales 2016 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Townhouse and Condo Sales 2016 Yearly Review

Florida Single Family Home Sales 2016 Yearly Review

Florida Single Family Home Sales 2016 Yearly Review

The Florida Single Family Home Sales 2016 Yearly Review as reported by Florida Realtors shows that the last year continued the positive momentum for the real estate market although at a reduced rate.   Year to year closed sales were up by 0.9% (was up by 12.4% in 2015) and new sales under contract (new pending sales) decreased by 4.1% (was down by 2.1% in 2015).

Florida Single Family Yealry Review

Both median and average sales prices were up (2015 to 2016) by 12.2% and 6.2% respectively.   Showing strong gains in value.  These numbers were 10.1% and 5.4% respectively in 2015.

The inventory of available homes for sale decreased by 6.5% from 2015.  While the months supply of homes decreased to 4.3 months.  Indicating a seller’s market.

Click here to view or download the full report:
Florida Single Family Home Sales 2016 Yearly Review

To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Single Family Home Sales 2016 Yearly Review

Social Media Sells Houses

Social Media Sells Houses

Real Estate online

Have you checked your Facebook status today? Perhaps sent a Tweet? Or posted a selfie to your Instagram account? Well if you’re like 74 percent of Americans, your answer to at least one of these questions is probably yes.

Social media has become a vital facet and component of our everyday lives. Thanks to the World Wide Web, we now have the power to stay connected to friends and family members that are miles away, as well as to locate long lost friends and classmates with whom we’ve lost touch over the years. We can show off our new babies, our new pets, and our new cars via widely transmitted photos and videos. We can report good news about our work and family lives, and—in tougher times—can ask for advice, help and resources if needed.

That’s all way cool and all, as the kids today would say; but the most important question in our minds, of course, is, “Can one sell a home through social media?”

Well today the answer comes in the form of a loud, resounding yes. People do indeed advertise houses for sale across social media, just as they tout and advertise the cars, books, services, music, products, or anything else that people want to sell to customers and clients throughout the country.

In the good (but technologically underdeveloped) old days, a homeowner or real estate agent trying to sell a home had a limited number of options available. They could advertise their house in the real estate or classified ad section of the local newspaper, list it in a MLS (Multiple Listing Service) book, and post for sale signs outside the home itself. And, of course, they could host open houses that would give prospective buyers the opportunity to tour the residence.

Of course, home sellers do still have the option of marketing their house through these innovative and wonderful means. Yet today, they also have the option of Facebooking and Tweeting out their listing, posting a photo of your home on Instagram, and filming a video tour of the house that can be shown on YouTube, Vimeo, etc.

By using social media to market your home, you can reach millions of people across the country; some of whom may be looking to move to your area from a faraway place, and are in search of a place to live once they get there. You also can reach people already in your community, who can contact you to arrange an immediate showing—and, or so we hope, a sale!

Basically, the information superhighway has transformed our nation into one big neighborhood; a place where we can show—and sell—our houses to the very best effect.

If you want your home sold with the help of social media, give me a call at (772) 323-6996.

Martin County Real Estate Update October 2015

Martin County Real Estate Update October 2015

Martin County Real Estate Update October 2015

“Florida Realtors® report that Martin County single family home sales showed double-digit appreciation in both median and average sale prices for the month of October. The average sale price of $434,249 is up 12.3% compared to October 2014, while the median is up 15.6%, reaching $314,500. Closed sales outpaced last year, too, and our inventory diminished to 1,162 homes, a 7.3% decrease from last year. For the sixth consecutive month, Martin County’s supply of inventory remained below 5 months and is down 18.4% compared to last year. All these figures are the hallmark of a seller’s market, so buyer beware and seek out the assistance of your local REALTOR® to help you navigate the unique challenges of this current real estate market,”

Martin County Real Estate Update October 2015

Housing News that Jensen Beach Homeowners Have Been Waiting For

Housing News that Jensen Beach Homeowners Have Been Waiting For jensen beach fl real estate

For Jensen Beach homeowners, the news was a long time coming. The bounce back from last decade’s dizzying plummet in the nation’s residential housing values has been underway for quite a while now—but those values hadn’t quite returned to their former heights.

Until last month!

The Wall Street Journal was early to break the long-awaited headline, Existing-Home Prices Hit Record: $236,400. Using just-released June sales numbers, the Journal reported that the nation’s average housing prices now topped the previous high water mark set in 2006. It meant that a lot of paper losses have been obliterated—and the return of full nights’ sleep for many U.S. homeowners who have long been underwater.

Another aspect of June’s housing report card could also ease nerves on a wider scale. USA Today led with it: “Existing homes were sold at the fastest pace in eight years…” It quoted the NAR’s Lawrence Yun as pronouncing this year’s spring buying season “the strongest since the economic turndown.”

That’s where the current housing market profile seems to differ in kind from the previous peak of $230,400, registered in July 2006. That mark was reached after sales volume had started to fall. Prices then followed, starting with a slow decline that continued until the spring of 2008, when the slump became a nosedive—unleashing the subprime mortgage crisis. The “bubble” of unsupported high prices had burst.

There was more glad tidings in last week’s news, as well. U.S. home builder confidence levels hit its highest mark in “nearly a decade” (WSJ). A rise in demand for apartment housing caused a jump of 9.8% in housing starts.

But the biggest news was the existing-home price rise, reported as having “rocketed” 35% since 2011, “benefiting current homeowners by giving them an opportunity to trade up to better homes or sell and cash out.” That’s the kind of spur that can stimulate the entire housing market.

With one economist (Andrew Hunter of Capital Economics) quoted as saying “the housing recovery has shifted into a higher gear,” it wasn’t surprising that other analysts were in agreement. “Don’t Laugh” read one headline from international observer Quartz.com; “the U.S. housing market is the best story in the global economy right now.” Reuters agreed about the implications. Their headline: “Strong U.S. housing data boosts dollar.”

Jensen Beach residents don’t have to be global investors to take advantage of this summer’s values. A simple call to my office is all it takes to get things started!

Housing News that Jensen Beach Homeowners Have Been Waiting For

Martin County Renters Contemplate National Trend to Rising Rates

Martin County Renters Contemplate National Trend to Rising Rates

 Martin County rentals

“WHY YOUR RENT CHECK JUST KEEPS GOING UP” was the headline in CNN Money’s real estate special report last month, which could have explained to Martin County renters why it is that U.S. rents keep rising faster than home values. After all, that doesn’t seem to make sense!

The list of reasons was long, and taken all together, fairly convincing:

  • Millennials are renting longer
  • Housing inventory is tight and getting tighter
  • The housing crash scared those who would otherwise have become homeowners
  • Baby Boomers are downsizing
  • Rental construction slowed when confidence sank after the housing crisis

It all comes down to demand and supply—less of the latter, more of the former. Although the author may have exaggerated a detail or two (“…there just aren’t enough ‘For Rent’ signs to keep up with the demand”), more than one Stuart renter will probably agree with the gist of the piece: rents have been on the rise long enough that it makes you want to think about the alternative: buying.

Some of the more extreme cases are urban: in San Francisco and Denver, for instance, renters have seen yearly increases of 15% and 11.6%, respectively, according to Zillow. Martin County renters can find themselves in something of a bind, though—since those higher rent bills make saving for a down payment more difficult. It’s just one reason. Per CNN, “There are a bunch of things keeping renters on the sidelines, meaning “the folks that would be normally making the switch to become homeowners are still taking up the rental units.”

The result: more units remain occupied, vacancies go down; rentable units remain scarce…so prices renters pay continue to go up.

Will this Catch-22 situation persist forever? Most likely not: the broad economic news is that this year’s steady job growth coupled with the pronounced turnaround in builder confidence is likely to loosen the supply stranglehold. Last Tuesday, there was also the kind of news that can prompt builders to really get going: government data showed purchases of new U.S. homes surged (particularly in the Northeast and West), with sales of new homes soaring 24% so far in 2015. That’s the best showing since 2007.

Of course, before supply outstrips demand, the situation puts landlords in an advantageous position. Martin County investors who bought rentable properties during the downturn can now enjoy steady returns from their properties, or decide to sell in a robust market. If you are leaning in that direction, it’s the perfect time to give me a call!

Martin County Renters Contemplate National Trend to Rising Rates

 

 

Putting Stuart Real Estate Prices in Perspective

Putting Stuart Real Estate Prices in Perspective

 Prices?

Whenever you are getting ready to buy or sell a residence, taking the temperature of the local housing market is part of how you prepare to engage. When Stuart real estate prices are on the rise, bargain hunters know they’ll have to scramble. When Stuart real estate prices are flat or on the downturn, spotting good value in the local listings is easier. A slow market means that those sellers who are impatient to move on will be willing to reduce their asking price. They will tend to “find the market” more quickly, rather than waiting it out.

Our Martin County real estate prices are seldom in exact lockstep with the national market—but when it moves, the impact is felt sooner or later. Of all the national barometers that are out there, the pre-eminent one is the research done by under the Case-Shiller banner.

At the end of last month, the latest S&P/Case-Shiller Home Price Index again confirmed the uptrend we’ve been seeing for nearly 3 years now. No surprise there: nationally, residential real estate prices continued to rise at the moderate clip that we’ve grown accustomed to. The only standouts were in the 20-City Composite (the single month rise of .5% was the largest increase since July) and in Denver and Dallas—both of which have now actually surpassed the peaks registered at the height of the real estate price bubble (which might have Coloradans and Texans wondering if it was a bubble at all)…

But what was unusually interesting were some observations published at the end of the Case-Shiller report, in the Analysis section. It noted that the data marked the 34th consecutive month of year-over-year price gains, and that home real estate prices “continue to rise and outpace both inflation and wage gains.” It pointed out that, nationally, average residential real estate prices are within 10% of the “housing boom peak.” And then it came up with an insight that puts things in perspective in a way that hasn’t appeared elsewhere. This by S&P Dow Jones Index Chairman David Bitzer:

A better sense of where home prices are can be seen by starting in January 2000, before the housing boom accelerated…”

Looking at inflation-adjusted numbers, the latest U.S. real estate prices as registered in the Index rose just a touch under 30% from January 2000 to February 2015. In other words, when you remove the whole statistical bulge—the “bubble” phenomenon—out of the picture, residential real estate prices have risen at an annual 1.7% rate. That’s real appreciation, adjusted for inflation. Slow—but “steady as she goes!”…and for the past three years or so, it’s more than doubled that long-term gain.

Stuart homeowners whose stress levels went up and down with the extreme price rise and fall would have been a lot more comfortable had they just snoozed through the whole affair, confident that the long-term history of real estate demonstrates, as the name implies, just about the most ‘real’ investment you can make.

When you get ready to take a look at the residential market, I hope you will want to give me the first call. I’ll share the latest up-to-the-minute info on Stuart real estate prices and activity that will put everything into meaningful perspective!

 Putting Stuart Real Estate Prices in Perspective

Martin County Real Estate News Can’t Compete with this China Item

Martin County Real Estate News Can’t Compete with this China Item

 3D_Printer

Martin County real estate news is fairly predictable—at least compared with some of the stories that filter in from the rest of the world. Here in Stuart, for instance, wherever a new home is being built, you’re likely to see familiar evidence like stacks of lumber and drywall, cartons of nail gun ammo, sacks of cement, and workmen hustling around as they put everything together.

Nary a printer in sight.

Not so in China. According to The Washington Post, the real estate news includes an item about an innovation from Asia. “Innovation” is perhaps a bit of an understatement, because the gist of the story was that in April a year ago, a Chinese concern built 10 houses in one day using a 3-D printer.

Despite what you may be thinking, this item did not have an April 1 dateline.

The 3-D printers we’ve been reading about over the past few years are the ones that take pellets or powders made of plastic, wax, ceramic, or even metal, and print three-dimensional objects, layer by layer, as directed by a computer.

Only a few years back, for most of us, stories about 3-D printers seemed more like science fiction than reality. But apparently the things actually work! As evidence, there have been lots of stories about the legal and other ramifications that accompany the printing of firearms. A few months ago, astronauts printed up a 3D wrench aboard the International Space Station: they’ll just print up spare parts when things break down. And there was that car (the “Strati”) that a company printed in Chicago: it took 44 hours to print, with a top speed of 40 MPH…

Doesn’t this all sound a little bit nuts?

But back to the real estate news from China. It seems that the outfit that printed the 10 houses last year, built a really, really big 3D printer, and used it to print a mansion: an 11,840 square-foot villa. Next to it, they printed up a 5-story building (just showing off, you have to think). According to reports, the process is more than just fast: it’s becoming cheaper and more energy-efficient. The Chinese company says that it can save 30%-60% of building materials, 50% of labor costs, etc. They want to print bridges, too…

But don’t think American ingenuity is being left in the polymer dust! USC Engineering Professor B. Khoshnevis is plugging away at the forefront of the technology, except he calls it “contour crafting” instead of “3D printing” (or “Xeroxing”). On his web site, in answer to the FAQ “Can you print an entire house?” the answer is Theoretically, yes. He hopes to seeentry-level construction models on the market within one to two years.”

Soooo, how long before our local Martin County real estate news will be trumpeting our own 3D printed houses for sale? No time soon. It turns out that the villa, 10 small houses, and 5-story apartment building in China “aren’t much to look at.” In fact, some say they are for demonstration only. So when you give me a call to help you find the Stuart home of your dreams, I suspect a printed model won’t be on our tour list. We won’t be making the rounds in a Strati, any time soon, either.

It’s only a two-seater, anyway.