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March Real Sales Report 2024

March Real Sales Report 2024

March Real Sales Report 2024

March Real Sales Report 2024


 

WASHINGTON (April 18, 2024) – The National Association of REALTORS® reported a decline in existing-home sales in March, noting decreases in the Midwest, South, and West, while sales increased in the Northeast for the first time since November 2023. Overall, sales decreased year-over-year across all regions.

Total existing-home sales – encompassing single-family homes, townhomes, condominiums, and co-ops – fell by 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Compared to the same month last year, sales were down by 3.7%.

The Chief Economist of the National Association of REALTORS® commented, “While home sales are recovering from recent lows, they remain constrained as interest rates have stabilized without significant change. However, with employment significantly higher than pre-COVID levels, the number of potential home buyers has increased.”

The total housing inventory at the end of March stood at 1.11 million units, an increase of 4.7% from February and 14.4% from the previous year. The unsold inventory represents a 3.2-month supply at the current sales pace, which is an increase from previous months.

The Chief Economist added, “The market is welcoming more inventory. Now is an opportune time to list properties, as mid-priced homes continue to receive multiple offers and home prices generally rise.”

The median existing-home price for all housing types in March was $393,500, marking a 4.8% increase from the previous year. Price gains were recorded across all four U.S. regions.

According to the REALTORS® Confidence Index, homes typically stayed on the market for 33 days in March, quicker than in February but slower than the previous year. First-time buyers accounted for 32% of sales in March, a noticeable increase from previous months.

Cash sales made up 28% of all transactions in March, slightly down from February but up from last year. Individual investors or second-home buyers purchased 15% of homes.

Distressed sales, including foreclosures and short sales, made up 2% of total sales, consistent with recent trends.

Mortgage rates also showed a rise, with Freddie Mac reporting the average 30-year fixed-rate mortgage at 6.88% in early April.

Breaking down by type, single-family home sales stood at a seasonally adjusted annual rate of 3.8 million units in March, while sales of condos and co-ops were at 390,000 units. Median prices for these homes showed respective increases from the previous year.

Regionally, the Northeast saw an improvement in home sales, while other regions experienced declines. Notably, sales in the West saw significant decreases.

The National Association of REALTORS® continues to be a leading organization in the real estate industry, representing over 1.5 million members across residential and commercial sectors.

For detailed local information, contacting local REALTOR® associations is recommended, as they provide the most accurate and current data from local multiple listing services (MLS).

Upcoming releases from the National Association of REALTORS® include the Pending Home Sales Index and the Existing-Home Sales report, expected later this spring.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Strategies to Maximize Your Home’s Selling Price

Strategies to Maximize Your Home’s Selling Price

Strategies to Maximize Your Home’s Selling Price

Even in a seller’s market as competitive as Orlando’s Four Corners area, where inventory is low and bidding wars are common, there are key steps you can take to ensure your home sells for top dollar. Partnering with a skilled real estate agent who knows the local market inside and out is paramount. According to data from the National Association of Realtors, homes sold with the assistance of a Realtor typically command higher prices, emphasizing the importance of finding the right agent for you.

Here are ten invaluable tips, endorsed by Realtors, to set your home apart from the competition and maximize its selling price:

1) Engage a Local Real Estate Expert: A knowledgeable local agent can expedite your sale and increase your profit margin. Interview multiple agents to find the best fit for your needs and objectives.

2) Invest in High-Value Improvements: Prioritize home improvements that offer the highest return on investment, such as minor kitchen and bathroom updates. These areas are often focal points for buyers and can significantly boost your home’s appeal.

3) Enhance Curb Appeal: First impressions matter. Ensure your home’s exterior is inviting by tidying up landscaping, applying fresh paint, and adding welcoming touches like potted plants or stylish mailbox.

4) Consider a Pre-Listing Inspection: Identifying and addressing potential issues upfront can prevent surprises during negotiations and instill confidence in prospective buyers.

5) Showcase with Professional Photography: High-quality photos can make your listing stand out online and attract more potential buyers. Leave some aspects to the imagination to spark curiosity and encourage in-person viewings.

6) Stage for Success: Less is more when it comes to staging. Decluttering and depersonalizing your space can help buyers envision themselves living in your home. Consider professional staging for optimal presentation.

7) Price Strategically: Trust your agent to set a competitive yet attractive price that generates interest without deterring potential buyers. Click HERE to find how much your home is worth

8) Minimize Personalization: Remove personal items to allow buyers to envision the space as their own. This helps create a neutral canvas that appeals to a wider audience.

9) Be Prepared to Act Quickly: Once your home is listed, be ready to respond promptly to inquiries and offers. Organize necessary documents and information to streamline the process.

10) Maintain Objectivity: Selling your home can be emotional, but it’s essential to approach negotiations with a clear head. Assess buyer requests objectively and consider the bigger picture to secure a successful sale.

 

Ready to embark on your home-selling journey in Orlando’s Four Corners area? Trust RE/MAX Heritage to guide you through every step of the process with expertise and dedication. Contact us today to learn more about how we can help you achieve your real estate goals. Click HERE to find out your home value

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Must Do’s After Buying a Home from RE/MAX Heritage

Must Do’s After Buying a Home from RE/MAX Heritage

Must Do’s After Buying a Home from RE/MAX Heritage

At RE/MAX Heritage, conveniently located in the Four Corners area of Orlando, we understand the excitement and the challenges that come with purchasing a new home. Congratulations on your recent home purchase! Successfully navigating today’s real estate market and becoming a homeowner is an achievement worth celebrating.

However, the journey doesn’t end with receiving your keys. As you transition into homeownership, there are immediate steps you should take to ensure a smooth and successful start in your new residence. Here are some essential actions to consider right after buying your home:

Essential Steps After Buying a Home

1) Set Up Utilities: Before moving day, make sure your water, gas, and electricity services are set up. This is crucial for a seamless move and to avoid any inconvenience like unpacking in the dark.

Pro tip: Contact local service providers early as setting up utilities might require certain verifications and scheduling.

2) Enhance Home Security: Change all exterior locks, update garage codes, and secure any other access points immediately before you settle in. You never want previous owners or strangers to have access.

Pro tip: Inspect around your home for hidden spare keys which previous occupants may have left behind.

3) Inspect Smoke and Carbon Monoxide Detectors: Ensure your safety by checking that all detectors are functional, possibly replacing batteries or the units themselves.

Pro tip: Install detectors in key areas like near bedrooms, kitchens, and on each floor for optimal safety coverage.

4) Review or Purchase a Home Warranty: If a warranty was provided, understand what it covers. If not, consider buying one to protect major appliances and systems.

Pro tip: Customize your warranty plan to cover essential and costly items, adjusting for your specific needs and climate.

5) Familiarize Yourself with Your Home’s Essentials: Locate and label the circuit breaker and main water shut-off valve. Gather all appliance manuals for future reference.

Pro tip: Organize all house-related documents and manuals for easy access during emergencies or routine checks.

6) Refresh Paint and Flooring: Painting and floor refurbishing are more manageable in an empty house and can dramatically enhance your home’s feel and value.

Pro tip: Negotiate with contractors for potential discounts when working in unoccupied spaces, potentially saving money and time.

7) Utilize Your Inspection Report: Address any pending issues highlighted in your home inspection report to avoid future complications.

Pro tip: Prioritize repairs and maintenance from the report to keep your home in prime condition and prevent costly future repairs.

8) Establish a Maintenance Schedule: Regular home upkeep is crucial. Plan for periodic tasks like filter changes and gutter cleaning.

Pro tip: Set aside a budget for maintenance and unexpected repairs—typically at least 1% of your home’s purchase price annually.

By taking these steps, you not only protect your investment but also enjoy your new home with peace of mind and security. Welcome to homeownership, and welcome to the community at RE/MAX Heritage!

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

JUST LISTED: 250 BELVOIR DR, DAVENPORT

JUST LISTED: 250 BELVOIR DR, DAVENPORT

JUST LISTED: 250 BELVOIR DR, DAVENPORT

Blog Post 8

250 Belvoir Dr, Davenport, FL

Click here to Get Directions

3 BEDROOMS
2 BATHROOMS
4970 sqft Lot

Step into this delightful three-bedroom home in the gated Royal Ridge community. Perfectly suited for first-time homebuyers or savvy investors this property offers an open plan layout with several desirable features for comfortable living. Tile throughout, each of the three bedrooms provides ample space for rest and relaxation, making them ideal for both families and guests. Experience the Florida breeze in the large (30 x 10) screened room at the rear of the house. This space is perfect for entertaining friends and family or simply enjoying a quiet evening and the fenced-in yard adds a layer of privacy and security, making it suitable for pets or providing a safe play area for children. Located in a prime area, this home is just a stone’s throw away from one of the areas largest shopping destinations at Posner Park and minutes from the Heart of Florida. Additionally, its proximity to Interstate 4 offers easy access to major cities like Orlando and Tampa plus the central Florida theme parks enhancing both work commutes and leisure trips.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Must know these Lease Terms with RE/MAX Heritage

Must know these Lease Terms with RE/MAX Heritage

Must know these Lease Terms with RE/MAX Heritage

In your search for a new home or investment property in the dynamic Four Corners area near Orlando, RE/MAX Heritage recognizes the significance of every lease agreement. We understand that signing a lease can feel like a monumental decision, especially without a full understanding of its terms. Rest assured, we’re here to alleviate any concerns you may have. Explore five essential lease terms below, and discover the RE/MAX Heritage difference.

1) Renter’s Insurance: At RE/MAX Heritage, we prioritize the protection of our clients. Renter’s insurance is a crucial component of safeguarding yourself and your belongings. While it doesn’t cover the structure itself, it provides comprehensive coverage for your personal property against theft, certain natural disasters, flooding, and more.

2) Fixed-Term Agreement: Our fixed-term agreements offer clarity and predictability, with clearly defined start and end dates. Typically spanning around 12 months, these agreements can be tailored to suit your specific needs. For example, signing a 12-month fixed-term agreement and moving in on January 1 ensures a clear timeline for your residency, giving you peace of mind as you plan ahead.

3) Occupancy Limit: To ensure a comfortable living environment for all our clients, RE/MAX Heritage sets occupancy limits in accordance with industry standards and regulations. These limits restrict additional occupants or roommates without prior approval from our dedicated team. We strive to maintain a maximum of two individuals per bedroom, aligning with recommendations from the United States Department of Housing and Urban Development.

4) Fair Housing Act: RE/MAX Heritage is committed to upholding the principles of the Fair Housing Act, ensuring equal opportunity and protection against discrimination for all our clients. Our leases explicitly mention the provisions of this vital legislation, safeguarding against discrimination based on race, sex, religion, disability, familial status, and more.

Breach At RE/MAX Heritage, we hold ourselves and our clients to the highest standards of integrity and accountability. Any failure to adhere to the terms outlined in your lease constitutes a breach of contract. Depending on the severity of the violation(s), clients may face penalties or eviction. We emphasize the importance of thoroughly reviewing the lease terms before signing, empowering you to make informed decisions.

Ready to embark on your real estate journey with RE/MAX Heritage? Whether you’re buying, selling, or renting, our team of experienced agents is here to guide you every step of the way. Contact us today to get started and experience the RE/MAX Heritage difference firsthand!

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Navigating Real Estate in Orlando with a Pro- Meet Laura Kirk

Navigating Real Estate in Orlando with a Pro- Meet Laura Kirk

Navigating Real Estate in Orlando with a Pro- Meet Laura Kirk

As a dedicated real estate professional with a passion for helping others, I am thrilled to be your trusted partner in your real estate journey. My goal is to ensure that you receive the best insights and advice for your specific needs.

From my background as a President and Executive Director of a 501(c)3 non-profit that served my local community, for 10 years, I carry the values of hard work, integrity, and outstanding client service in all that I do.

I have an education in civil engineering, architecture, and interior design, as well as 10 years of experience helping me deliver an exceptional level of knowledge to ensure that you receive the best insights and advice for your specific real estate needs.

After purchasing 8 homes in 6 states while moving with my family, I know the importance of working with a passionate real estate agent. I understand that each client is different, and each situation is unique. I take the time to tailor my approach to help you achieve your distinct goals.

I am extremely proud to be associated with Re/Max Heritage where I have access to the latest technology and an extensive wealth of resources, in addition to a growing database of international buyers, sellers, and investors to further assist my clients.

When I am not making real estate dreams come true, you can find me at one of the Disney Parks, kayaking at Merritt Island, manatee watching at Blue Springs State Park or enjoying the Downtown Winter Garden festivities with my husband and twin daughters.

Most importantly, whether you are a first-time homebuyer, looking to upgrade, or considering an investment property, I am here to guide you. Reach out to me today to discuss your real estate goals!,

To watch the video, just tap on the picture of me positioned above. This will immediately take you to the video.

Key Points

00:00:00
– Introduction by Laura Kirk, RE/MAX Heritage agent

00:00:10
Discussing her background and journey into the real estate industry

00:00:17
-Benefits of selecting RE/MAX: global reach and renowned reputation.

00:00:20
-The caliber of training and team assistance provided at RE/MAX Heritage

00:00:28

Access a seasoned agent for any inquiries

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.