What Are the Experts Saying About the Spring Housing Market?The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now.Here’s what industry experts are saying right now about the spring housing market and what it means for you: Selma Hepp, Chief Economist, CoreLogic: “We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when relatively more migration happens, as people graduate and move elsewhere looking for jobs.” Greg McBride, Chief Financial Analyst, Bankra... 05/19/2023

What’s the Difference Between a Home Inspection and an Appraisal?If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Here’s the breakdown of each one and why they’re both important when buying a home.Home InspectionHere’s the key difference between an inspection and an appraisal. Bankrate says: “In short, while an appraisal helps you understand a home’s value, inspections help you understand a ... 05/19/2023

Want To Sell Your House This Spring? Price It Right.Over the last year, the housing market’s gone through significant change. While it’s still a sellers’ market, homes that are priced right are selling, and they get the most attention from buyers right now. If you’re thinking of selling your house this spring, it’s important to lean on your expert real estate advisor when it comes to setting a list price. As Realtor.com explains: “Move-in-ready homes with curb appeal and in desirable areas—and that are priced to sell—are especially likely to move quickly this spring.” In today’s market, how you price your house will not only make a big difference to your bottom line, but to how quickly your house will sell.Why Pricing Your House Right MattersYour asking price sends a message to potentia... 05/19/2023

The Big Advantage If You Sell This SpringThinking about selling your house? If you’ve been waiting for the right time, it could be now while the supply of homes for sale is so low. HousingWire shares: “. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .”The National Association of Realtors (NAR) confirms today’s housing inventory is low by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. Anything lower is a sellers’ market. And today, the number is much lower:  “Total housing inventory registered at the end of February was 980,000 units, identical to January and up 15.3% from one year a... 05/19/2023

Homebuyer Activity Shows Signs of Warming Up for SpringThe spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest: “Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.” We know buyer activity is trending up because of mortgage purchase application data. According to Investopedia:“A mortgage application is a document submitted to a lender when you apply for a mortgage to purchase real estate.” That means the number of mortgage applications shows how many buyers are applying for mortgages. Put an... 05/19/2023

The Spring Housing Market Could Be a Sweet Spot for Sellers  Some Highlights  The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy. The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we’re still in a sellers’ market. The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, let’s connect today. 05/17/2023

Should You Consider Buying a Newly Built Home?If you’re thinking about buying a home, you might be focusing on previously owned ones. But with so few houses for sale today, it makes sense to consider all your options, and that includes a home that’s newly built. The Number of Newly Built Homes Is on the Rise While there are more houses for sale right now than there were at this time last year, there’s still a historically low number of homes available on the market. One reason for that is years of underbuilding—meaning there haven’t been enough new homes built to keep up with demand.  The graph above shows how low the production of newly constructed homes has been over the past 14 years. But it also shows another important trend: the number of new homes being built each year is on the r... 05/17/2023

Should You Rent Your House or Sell It?If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of selling it. A short-term rental (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years. According to a Harris Poll survey, 28% of homeowners have considered using a rental service to temporarily rent out their home for additional income. Owning a short-term rental can be a tempting idea, but you may find the reality of being responsible for one difficult to take on. Here are some of the challenges you could face if you rent out your house instead of selling it. A Short-Term Rental Comes with Responsibilities Successfully owning and renting a hous... 05/17/2023

Lower Mortgage Rates Are Bringing Buyers Back to the MarketAs mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling. Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows mortgage applications increased last week by 7% compared to the week before. So, if you’ve been planning to sell your house but you’re unsure if there will be anyone to buy it, this shift in the market could be your chance. Here’s what experts are saying about buyers returning to the market as we approach spring.  Mike Fratantoni, SVP and Chie... 05/17/2023

Where Will You Go If You Sell? You Have Options.There are plenty of good reasons you might be ready to move. No matter what your motivations, before you list your current house, you need to consider where you’ll go next. In today’s market, it makes sense to explore all your options. That includes both homes that have been lived in before as well as newly built ones. To help you decide which is right for you, let’s compare the benefits of each. Regardless of which option you choose to explore, working with a trusted real estate professional throughout the process is essential. The Benefits of Newly Built Homes First, let’s look at the benefits of purchasing a newly constructed home. With a brand-new house, you’ll be able to: 1. Build your dream home If you build a home from the ground up... 05/17/2023

Homeownership Builds Your Wealth over Time  Some Highlights  If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership. On average, nationwide, home prices appreciated by 288.7% over the last 32 years. That means homeowners grow their net worth significantly in the long term. Homeownership wins over time. Let’s connect so you can start your homebuying journey today. 05/17/2023

Why It Makes Sense To Move Before SpringSpring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up. Spring Should Bring a Wave of Buyers to the Market In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of buyers begin their search. And experts project that this year will be no exception. Right now, buyer demand is low due to a combination of normal seasonal trends a... 05/17/2023

Pre-Approval in 2023 What You Need To KnowOne of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:  “In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much you may be approved to borrow, and what your rate could be.” Basically, pre-approval gives you critical information about the homebuying process that’ll help you understand your options and what you may be able to borrow. How does it work? As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to h... 05/17/2023

Is It Time To Sell Your Second Home?During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious. A recent report from the Institute for Luxury Home Marketing (ILHM) explains just how much remote work impacted the demand for second and luxury homes: “The unprecedented ten-fold increase towards remote wo... 05/17/2023

Homeownership Wins Over Time  Some Highlights  If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide, home prices appreciated by 290.2% since 1991. Homeownership wins in the long run. If you’re ready to buy a home, let’s connect today.  Some Highlights If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide, home prices appreciated by 290.2% since 1991. Homeownership wins in the long run. If you’re ready to buy a home, let’s connect today. 05/17/2023

Davie Single Family Homes Statistics For April 2023 05/16/2023

Beautiful 4/2.5 Shenandoah Pool Home on Lake FOR SALE for $768,000!  Step inside to this large Harrisburg model complete with 4 large bedrooms, 2.5 bathrooms and a handy interior laundry room!  This home is light and bright from the many high grade impact windows and doors throughout.  The kitchen that opens to the substantial family room, has been upgraded with wood cabinets, granite countertops and stainless appliances.This home has one of the prettiest views in Shenandoah! You can enjoy the  breathtaking sunsets and tropical breezes from the wide lake, canoe or fish from your own backyard.  The sparkling pool along with a big patio and a built in BBQ is a great place to splash and entertain. There is a big side yard with plenty of room for your boat or garden. The top rated Broward C... 04/27/2023

A Shenandoah 4 Bed/2 Bath Home on a Lake SELLS for $685,000!    A Shenandoah 4 bed/2 bath home on a lake SELLS for $685,000!   This beautiful home sits on an ENORMOUS CORNER LOT and a beautiful lake in the Shenandoah community in Davie.  The new owners of this home will have beautiful water views from all living areas and a yard that is big enough to play, boat, garden or even add a brand new pool to! The top rated Broward County schools that children living in this home will attend are Flamingo Elementary School, Indian Ridge Middle School and Western High School.The Shenandoah community offers walking trails and a brand new park within walking distance for you to enjoy with your family and sidewalks to stroll in the morning or evening.  This home is also close to great entertainment, ... 04/25/2023

Davie Florida Real Estate Condos, Villa's and Townhome Market Report for March 2023. With 15 Closed Real estate closings and 31 new listings. The active inventory is 2.07 months in March and the average days on market are 16 days.Find Out What Your Neighbors Homes Are Selling For --> DavieHomeValuesDavie Condos, Villa's and Townhomes for sale --> SearchCondosNowDavie Single Family homes for sale --> SearchSingleFamilyDavie Vacant Land For sale -->  VacantLandForSale  04/15/2023

Davie Florida Real Estate Single Family Market Report for March 2023. With 45 Closed Real estate closings and 53 new listings. The active inventory is 1.18 months in March and the average days on market are 25 days.Find Out What Your Neighbors Homes Are Selling For --> DavieHomeValuesDavie Condos, Villa's and Townhomes for sale --> SearchCondosNowDavie Single Family homes for sale --> SearchSingleFamilyDavie Vacant Land For sale -->  VacantLandForSale 04/15/2023