Many homeowners have no idea how much an agent’s experience matters when selling their home. Home sellers believe all agents do the same thing because they all sound alike. If all agents do the exact same thing, why not select the least expensive agent? It stands to reason the less you pay in commissions and […more]
The Florida insurance crisis threatens home ownership by pricing many buyers right out of the market. Most people do not realize what has happened in the last year, and they are about to find out. Current homeowners will be affected at policy renewal, or upon policy cancellation. Already we have a home affordability crisis. The […more]
Loan experts forecast 6% interest rate coming to the US housing market in 2022. Currently rates have risen to about 4.75%. We have witnessed the fastest rise in mortgage rates in US history the past 4 weeks. 6% interest rates coming in 2022 according to forecasts Mortgage rates skyrocketed 24% in the past four weeks, […more]
Current homeowners watching interest rates are contemplating whether to make a move in this market. Potential sellers are worried about where they would move to. They are also worried about financing their next home and how much more it might cost if they wait. We’ve talked a lot recently about how rising interest rates […more]
The natural law of economics tells us that supply and demand will determine the price, but there are limits as to what a buyer can afford. Home affordability dictates prices in the real estate market. Individually one buyer may pay out of the norm for an item or house, but in the macro the market […more]
Is the SW Florida housing market priced correctly in 2022? Let’s take a deep dive and analyze some key statistics. Keller Williams has been analyzing the national market for years. In their estimation, 4% annual appreciation is the standard. When the market surpasses the 4% appreciation rate for an extended period, it can get in […more]
For the past year we have been talking about how rising interest rates harm buyers by eroding purchasing power. Today we would like to focus on how the housing market correction risk harms sellers more than buyers. In this example we have posted before, we illustrate a $350,000 home that falls to $300,000 in a […more]
Today we’d like to give you an inflation home affordability perspective you may not have thought about. These days everyone is talking about how expensive housing is. But is it really? Yes, home prices have gone up, but that doesn’t tell the whole story. Inflation Home Affordability Perspective We are including a graph, and there […more]
January 2022 saw record home sale prices set as we started the year out with a bang. Median home sale prices rose to $413,500 from $327,250 last year. That is a whopping 26.4% increase over last year. Average home sale prices rose to $574,393 from $489,738 last year. That is a 17.3% increase. We did […more]
Today we are reporting SW Florida single family daily inventory levels down 23.66% since Dec 8th, 2021. In roughly two short months we’ve managed to whittle down single-family inventory by 332 homes in Lee County. Back in December inventory stood at 1,403 homes and today it stands at 1,071. Sellers can attract multiple offers if […more]