Special offer

Davie, FL Real Estate News

By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
What Makes a House a Home? There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of buying a home are important, the non-financial and emotional reasons are too. Home means something different to all of us. Whether it’s sharing memories with loved ones at the kitchen table or settling in to read a book in a favorite chair, the emotional connections to our homes can be just as important as the financial ones. Here are some of the things that make a house a home. 1. You Can Be Proud of Your Accomplishment Buying a home is a major life milestone. Whether you’re setting out to buy your first home or your fifth, congratulations will be in order when you’ve achieved yo...
Comments 1
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
What To Expect From the Housing Market in 2023 The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it's put the market into a reset position. As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable. But what does that mean for next year? What everyone really wants is more stability in the market in 2023. For that to happen we’ll need to see the ...
Comments 0
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Homeowners Still Have Positive Equity Gains over the Past 12 Months If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates. Equity is the current value of your home minus what you owe on the loan. Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few years, home prices appreciated substantially. And while home price appreciation has moderated this year, and even depreciated slightly in some overheated markets, that doesn’t mean you’ve lost all the equity you gained during the pandemic frenzy. To prove you still have equity you can use, the latest...
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Mortgage Rates Are Dropping. What Does That Mean for You? Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy. Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it well by saying: “Mortgage rates dropped even further this week as two main factors affecting today's mortgage market became more favorable. Inflation continued to ease while the Federal Reserve switched to a smaller interest rate hike. As a result, according to Freddie Mac, the 30-year fixed mortgage rate fell to 6.31% from 6.33% the previous week.” So, what does that mean for your ...
Comments 1
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
2023 Housing Market Forecast Some Highlights From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation. If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023. Sources: realtor.com Home Price Expectations Survey (HPES) National Association of Realtors (NAR) Mortgage Bankers Association (MBA) Fannie Mae Freddie Mac Zelman & Associates Greg McBride, Chief Financial Analyst, Bankrate
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Planning to Retire? It Could Be Time To Make a Move. If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that decision. Consider How Long You’ve Been in Your Home From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer (see graph below): When you live in a home for a significant period of time, it’s natural...
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
You May Have More Negotiation Power When You Buy a Home Today Did the frequency and intensity of bidding wars over the past two years make you put your home search on hold? If so, you should know the hyper competitive market has cooled this year as buyer demand has moderated and housing supply has grown. Those two factors combined mean you may see less competition from other buyers. And with less competition comes more opportunity. Here are two trends that may be the news you need to reenter the market. 1. The Return of Contingencies Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal or the inspection, in hopes of gaining an advantage in a bidding war.  But now, things are different. The latest data from the National A...
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Ready To Sell? Today’s Housing Supply Gives You Two Opportunities. At first glance, the increase in housing supply compared to last year may not sound like good news for prospective sellers, but it actually gives you two key opportunities in today’s housing market. An article from Calculated Risk helps put the inventory gains the market has seen in 2022 into perspective by comparing it to recent years (see graph below). It shows supply has surpassed 2021 levels by 58%. But the further back you look, the more you’ll understand the bigger picture. And if you go all the way back to 2019, the last normal year in real estate, we’re roughly 35% below the housing supply we had at that time. Opportunity #1: Take Advantage of More Options for Your Move If your current house no longer meets your ...
Comments 3
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
What Every Seller Should Know About Home Prices If you’re trying to decide whether or not to sell your house, recent headlines about home prices may be top of mind. And if those stories have you wondering what that means for your home’s value, here’s what you really need to know. What’s Really Happening with Home Prices? It’s possible you’ve seen news stories mentioning a drop in home values or home price depreciation, but it’s important to remember those headlines are designed to make a big impression in just a few words. But what headlines aren’t always great at is painting the full picture. While home prices are down slightly month-over-month in some markets, it’s also true that home values are up nationally on a year-over-year basis. The graph below uses the latest data from S&P Cas...
Comments 1
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Homeownership Is an Investment in Your Future There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President and CEO of the Mortgage Bankers Association (MBA), explains: “The desire for homeownership is strong. Many prospective buyers are waiting for the volatility in mortgage rates to subside, as well as for a clearer picture of the economic outlook.” If you’re in that position, remember that it’s important to consider not just what’s happening today but also what benefits you may gain in the long run. There’s a lot of information out there about how homeownership helps build a homeowner’s net worth over time. But even today, many ...
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Key Advantages of Buying a Home Today There’s no doubt buying a home today is different than it was over the past couple of years, and the shift in the market has led to advantages for buyers today. Right now, there are specific reasons that make this housing market attractive for those who’ve thought about buying but have sidelined their search due to rising mortgage rates. Buying a home in any market is a personal decision, and the best way to make that decision is to educate yourself on the facts, not following sensationalized headlines in the news today.  The reality is, headlines do more to terrify people thinking about buying a home than they do to clarify what’s actually going on with real estate. Here are three reasons potential homebuyers should consider buying a home today. 1....
Comments 1
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
What’s Going on with Home Prices? Ask a Professional. If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market. That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas. Here’s a quick snapshot of what the experts are saying: Danielle Hale, Chief Economist at realtor.com, says: “The major question on the minds of homeowners and aspiring buyers alike is what will happen to home prices. . . Soaring prices were propelled...
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
What You Want To Know If You’re Pursuing Your Dream of Homeownership If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The 2022 Millennial & Gen Z Borrower Sentiment Report from Maxwell says: “Many young adults have demonstrated their resolve to embark on the journey toward homeownership soon. More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year.” Let’s take a look at why homeownership makes the top of so many young buyers’ to-do list and what you need to consider to achieve your goals if you’re one of them. Top Motivators To Buy a Home Befor...
Comments 5
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Why There Won’t Be a Flood of Foreclosures Coming to the Housing Market With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. But in truth, there are many key differences between what’s happening today and the bubble in the early 2000s. One of the reasons this isn’t like the last time is the number of foreclosures in the market is much lower now. Here’s a look at why there won’t be a wave of foreclosures flooding the market. Not as Many Homeowners Are in Trouble This Time After the last housing crash, over nine million households lost their homes due to a foreclosure, short sale, or because they gave it back to the bank. This was, in large part, because of more relaxed lending ...
Comments 3
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Home Sweet Home: The Emotional Benefits of Homeownership Some Highlights While there are many financial perks to owning a home, there are also powerful non-financial benefits to consider if you’re thinking about making a move. Homeownership allows you to express yourself, gives you greater privacy and comfort, enhances your connection to your community and loved ones, and is an achievement to feel proud of. Let’s connect today to discuss all that homeownership has to offer.
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Mortgage Rates Will Come Down, It’s Just a Matter of Time This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And, this month, the average rate for financing a home briefly rose over 7% before coming back down into the high 6% range. But we’re starting to see a hint of what mortgage interest rates could look like next year. Inflation Is the Enemy of Long-Term Interest Rates As long as inflation is high, we’ll see higher mortgage rates. Over the past couple of weeks, we’ve seen indications that inflation m...
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Should You Update Your House Before You Sell? Ask a Real Estate Professional. Some Highlights You may be wondering what needs to be renovated before you sell your house. In today’s shifting market, making your house appealing is more important than ever. That’s why it’s essential to lean on a real estate professional who has in-depth knowledge of today’s housing market. They know what buyers are looking for and how to highlight any upgrades you make. Let’s connect so you know where to focus your efforts so your house will stand out in a today’s market.
Comments 3
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
More People Are Finding the Benefits of Multigenerational Households Today If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years. As you consider this option for your own home search, know it could help you on your homeownership journey and provide you with other incredible benefits along the way. Living with Loved Ones Could Help You Achieve Your Homeownership Goals There are several reasons people choose to live in a multigenerational household, and for many, the arrangement is a personal one. But acc...
Comments 2
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Why It May Be Time To Add Newly Built Homes to Your Search If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. If you’re willing to work with a trusted agent to consider a newly built home, you may have even more options and incentives than you realize. That may be why the National Association of Home Builders (NAHB) says the share of buyers looking for new construction is increasing: “According to the quarterly Housing Trends Report, the popularity of new construction homes is continuing to rebound . . .” Here’s a few reasons more buyers may be drawn to newly built homes. More Options To Choose from and Potential Builder Incentives When looking for a home, you can choose between ex...
Comments 3
By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Home Equity: A Source of Strength for Homeowners Today Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says: “. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.” Data from the Mortgage Bankers Association (MBA) helps tell this story. It shows the overall percentage of homeowners at risk is decreasing significantly with time (see graph below): But even though the volume of homeowners at risk is very low, there is still a small percentage of homeowners who may be coming f...
Comments 2
Explore Davie, FL