Stuart FL Mortgage Credit Easing Expectations Follow U.S. Thaw

Stuart FL Mortgage Credit Easing Expectations Follow U.S. Thaw

 mortgage credit

How easy or hard it is for Stuart home buyers to secure a mortgage with attractive terms is a key element in the local real estate picture. Our national mortgage credit provides the oil that keeps residential home sales moving smoothly; that, or it becomes a damper (or even something close to an emergency brake!).

The current Florida mortgage credit situation is largely a reflection of what’s going on in the greater financial world, where the corporate banking interests, world economic conditions, and political realities converge. It is in that greater arena where the counterproductive effects of tightening mortgage credit availability have been acknowledged for some time. At first, it seemed to be little more than talk, but recently, changes have been stirring. The resulting tinkering seems to be taking effect.

“U.S. consumers are finding it easier to get a mortgage,” was last Thursday’s finding by CNBC in their Reality Check. The commentary was headlined “A CREDIT THAW IS OFFERING MORE MORTGAGE OPTIONS.” In fact, it fairly bristled with refrigeration metaphors. Following “years of near frozen credit following the financial crisis” there was now “heat behind the credit thaw.” If you expected that the source of the heat was the springtime improvement in Stuart’s weather, you were mistaken. It was “simple clarification.”

Clarification Clarification.

The simple clarification lies in a chain of repercussions that requires some clarification of their own. It has to do with the usual suspects: Fannie and Freddie. Fannie Mae and Freddie Mac (the guarantors behind the majority of mortgage credit in Florida and throughout the country) had sued lenders left and right following the subprime mortgage market mess. It cost the banks and mortgage companies billions through lawsuits and loan buybacks. Lenders, who like many of us don’t like to lose billions, became understandably gun-shy. They demanded near-pristine credit from borrowers, because they didn’t want Fannie and Freddie (and sometimes their Uncle, Sam) to come after them again.

Bait-and-Goodbye

Rates may have been terrific, but for way too many Stuart would-be borrowers, those rates were attached to loans that weren’t being offered. It wasn’t exactly Bait-and-Switch; more like Bait-and-Goodbye. But new rules that clarify which loans are considered safe by the semi-governmental concerns have done away with a considerable degree of lender concern. Added to the nationwide increase in activity (the Mortgage Bankers Association registered a single month increase of 17% in new home applications in March), it seems likely that the defrosting described by CNBC should continue well past cherry blossom time.

Today’s Florida mortgage credit landscape is something that directly affects most buyer-applicants as well as Stuart home sellers, so that’s welcome news—and a good reason why now is a good time to give me a call!

March 2015 Monthly Market Detail Florida Townhouses and Condos

March 2015 Monthly Market Detail Florida Townhouses and Condos

The March 2015 Monthly Market Detail Florida Townhouses and Condos continued a second month of very strong activity after a weak start to 2015.  Closed sales were up by 13.7% as compared to last months increase of 7.4% and new sales under contract (new pending sales) increased by 6.5% (February’s increase was 7.5%).

Both median and average sales prices also continue to rise.  Increases of (year to year) 8.6% and 7.5% respectively (in February they were up by 8.3% and 6.6%).  Excellent gains for sellers in the Florida market.  Buyers should consider making their move earlier than later if at all possible.

The inventory increased by 2.1% for March.  This was the third month of increasing inventory after two months of flat numbers. For March 2015 we have a 6.1 months of inventory (was 6.2 months in February) which is up from 6.0 from last year.  Essentially a balanced real estate market as a 6 months inventory supply is considered a balanced market.

Florida Townhouses and Condos

Click on the link below or the graphic to see the full market detail report from Florida Realtors: Click here to view or download the full report:
March 2015 Monthly Market Detail Florida Townhouses and Condos

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.

March 2015 Monthly Market Detail Florida Townhouses and Condos

2015 Stuart FL Home Design Ideas Focus on Kitchen Updates

2015 Stuart FL Home Design Ideas Focus on Kitchen Updates

Keeping your Stuart FL kitchen looking up-to-date doesn’t have to be difficult or expensive. Contemporary home design in Stuart FL is all about knowing what the latest trends are and which to choose when regular maintenance calls for a change in appliances or décor.

This year, eco-friendly appliances are definitely ‘in’—as are the pops of bright color meant to create a vivid and welcoming kitchen. And as convenience features continue to evolve, those are increasingly prominent factors influencing design choices. Especially if you are planning to sell your Stuart FL home in the near future, there are a few home design directions that are most likely to impress prospective buyers who’ve been exploring the latest kitchen trends:

GoUpdated Stuart Kitchening green is a pronounced trend, not just in home design. Using renewable, Earth-friendly materials can be a way to update a kitchen while minimizing environmental impact. A sample idea would be a sustainable bamboo parquet butcher block to grace the kitchen counter or table. They come in beautiful, rich wood tones, and when large enough to cover a substantial counter area, can warm the feel of the entire room.

Another (almost diametrically opposed) current direction is to deck the kitchen out with a few of the latest high-tech gadgets. Even if you resist an ultra-modern look, a few chic techie touches can add a dash of luxury to your home. One example: Siemens makes a multimedia ventilation hood that has a 17-inch LCD screen with options for listening to music or watching TV. It’s a creative way to make cooking more entertaining—and one that would certainly help make your Stuart FL listing stand out!Updated Stuart Kitchen

Bright colors have not always been popular in kitchens, but lately, appliance manufacturers have been less shy about offering exuberant finishes. You can find dishwashers, blenders, toasters, microwaves and refrigerators in bright blues, pinks, yellows, greens and oranges. It can be an inexpensive way to add a splash of color to your kitchen…although if you are planning on selling soon, in many instances I’d recommend caution: perhaps confining the color pops to bright accent pillows or colorful floral arrangements.

Copper is also an increasingly popular trend in kitchen design this year. Its natural antibacterial properties make it a practical home design element, and that cool, rustic hue looks great in warm, gold-toned kitchens. Copper sinks and faucets are both practical and stylish (although keeping them bright and shiny can be another story!).

If you are thinking of selling soon, consider incorporating one or two current Stuart FL home design ideas if your kitchen could use a decor infusion. Looking for more ideas? Contact me today to discuss what is making today’s homes S-E-L-L!

2015 Stuart FL Home Design Ideas Focus on Kitchen Updates

8 Surprising Disclosures Requested of Stuart FL Home Sellers

8 Surprising Disclosures Requested of Stuart FL Home Sellers

Stuart FL home for sale

What really surprises many Stuart FL first-time sellers is the disclosure aspect of the sales process. Many first-timers are shocked by the numerous open-ended queries involving issues and events you may not have even considered significant (and some even from times before you acquired your Stuart FLhome). Believe it or not, many of the disclosures are required by law to prevent any future lawsuits between you (the seller) and the home buyer.

To give you an idea just how surprisingly deep some of the questions are, we’ve picked out a few that most often leave Stuart FL home sellers surprised at the need to disclose them:

Are you aware of…

  • Any alterations, modifications, remodelling, replacements, or material repairs on the property?
  • The release of an illegal or controlled substance on or beneath the property?
  • An order from a government health official identifying the property as being contaminated by methamphetamine?
  • Any renovations of lead based paint surfaces completed in compliance with the EA lead base paint renovation rule?
  • Past or present odors, urine, faeces, discoloration, stains, spots, or damage from pets?
  • Diseases or infestations affecting trees, plants, or vegetation on or near the property?
  • Fill (compacted or otherwise) on the property or any portion thereof?
  • Financial relief or assistance or settlement, sought or received by past or present owners of the property, due to any actual or illegal damage?

If you do come across there types of questions, don’t feel singled out – you’re not being targeted for anything you’ve done. Many of the disclosures are commonly used throughout the state and apply to most Stuart FL home sales.

Wondering about other surprising aspects of the home sale process? Give me a call and I’d love to walk you through everything involved. We can get through this together!

8 Surprising Disclosures Requested of Stuart FL Home Sellers

February 2015 Monthly Market Detail Florida Townhouses and Condos

February 2015 Monthly Market Detail Florida Townhouses and Condos

The February 2015 Monthly Market Detail Florida Townhouses and Condos for the state of Florida showed some excellent gains after a weak start to 2015.  Closed sales were up by 7.4% as compared to last months decrease of 11.3% and new sales under contract (new pending sales) increased by 7.5% (January’s decrease was 0.8%).

Both median and average sales prices, however, continue to rise.  Increases of (year to year) 8.3% and 6.6% respectively (in January they were up by 5.4% and 3.2%).  Once again picking up momentum to fairly hgh year to year increased rates.

The inventory increased by 3% for February.  This was the second month of increasing inventory after two months of flat numbers. For February 2015 we have a 6.2 months supply of inventory (was also 6.2 months in January) which is up from 6.1% from last year.  A 6 months inventory supply is considered a balanced market.  The townhouse and condo market for Florida continues to lag in performance from the single family real estate market.

February 2015 Monthly Market Detail Florida Townhouses and Condos

Click on the link below or the graphic to see the full market detail report from Florida Realtors: Click here to view or download the full report:
February 2015 Monthly Market Detail Florida Townhouses and Condos

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.

February 2015 Monthly Market Detail Florida Townhouses and Condos