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Strongest Sales in a Decade

by | Jun 25, 2020 | Blog, Buyers, Homeowners, Local Events, Mortgages, News, Real Estate News, Renters, Sellers

Strongest Sales in a Decade

The new-home market is booming as states wind down sheltering-in-place restrictions, easing the search for a new home. Sales of newly built single-family homes last month jumped nearly 13% over 2019—that is the strongest May since 2007, according to newly released data from the U.S. Census Bureau.

However, while sales are rebounding, housing starts—the construction of new homes—posted a lackluster month, showing that builders are struggling to keep up with the quick resurgence in buyer demand. The strong rebound has caught builders off guard. Single-family housing starts in May were about 18% lower annually and building permits, a sign of future construction, was down about 10%.

Builders have a lot of catching up to do. The largest sales jump in May for the new-home sector was from homes that had not yet been started.

“Sales of homes not yet under construction are rising given capacity limitations in the building industry,” says Robert Dietz, chief economist at the National Association of Home Builders. “Due to labor and land constraints, homebuilders were already producing too few single-family homes given potential demand. As housing demand has picked up in recent weeks, builders have shifted sales to homes not yet under construction—a 20% year-over-year gain for such sales.

Homebuilders are ramping up hiring to help meet demand.

“There has been a production deficit in housing,” Stuart Miller, chairman and former CEO of Lennar, told CNBC. “We are shelter-supply-constrained, and that supply constraint means that all forms of shelter are going to thrive in the current market and probably be sustainable for the next year or two.”

The median sales price in May for a new home was $317,900.

Regionally, new home sales in May saw the largest annual gains in the Midwest (up 9.5%) and Northeast (up 6.8%), followed by more muted upticks in the West (up 1.4%) and South (up 0.3%).

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.

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States with the most Identity theft

States with the most Identity theft

by | Jun 25, 2020 | Blog, Buyers, Homeowners, News, Property for Sale, Real Estate Components

States with the most Identity theft

Your identity can be bought for as little as $1,192.58, a new study from Reviews.org shows. Scammers who steal identities and private information through data breaches sell the private information on the dark web, a collection of encrypted websites accessible only through special browsers.

And while you may be at more risk for identity theft depending on where you live, the danger doesn’t necessarily break down into regional categories, the study notes.

“With crime data, we’ve often noticed regional or population-based patterns that cause one state to have more crimes than another,” Reviews.org notes in its study. “But identity theft likelihood is a bit scattered. While certain states are at higher risk than others, there doesn’t seem to be a countrywide region or population-based pattern.”

Nevada has the highest reports of identity theft and personal data breaches in the country, according to the study. Iowa has the fewest reports of these crimes.

ake steps to keep your personal data safe. For example, use a virtual private network to access the internet so that your information is encrypted. Also, review this cybersecurity checklist from the National Association of REALTORS® to ensure you’re taking the necessary steps to keep yourself and your business safe from a breach.

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.

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From Boom to Bust and now a Pandemic

From Boom to Bust and now a Pandemic

by | Jun 9, 2020 | Blog, Buyers, Press Releases, Real Estate News, Renters, Sellers

From Boom to Bust and now a Pandemic

From the Boom years through the great recession of 2009, Steve Silcock Broker / Own er at Bardell Real Estate thought he had experi enced most chal-lenges a business owner can face …until the first global pandemic !! “For the last 30 years Bardell has helped it’s clients navigate the real estate markets in the Four Corners area through good times and bad … but this time it’s different”.

Originally from the UK and resident of Central Florida for 15 years, Steve’s 25 years of experience in business development and senior management roles in the UK Banking and Insurance sectors prepared him well for today’s challenges.

“Like many businesses we had to change, we adapted, and we learned to deal with the new norms. Face masks, gloves, plexiglass barriers it’s all part of the new world. We had to make some physical changes but dealing with so many international clients over the years means we were already well placed to pivot to an on-line world.

Whether our Agents are at home, in the office, or on the move, we remain connected to our clients, lenders, and title companies making sure today’s deals are managed just as efficiently despite the social distancing challenges.

Virtual video tours, Zoom meetings, remote closings, and electronic signatures may be new for some brokerages, but it’s been part of our process for years and that means we can continue to serve our clients buying, selling or renting in the Four Corners area ….even through a Pandemic.

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.

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REAL ESTATE IS ALREADY RECOVERING !!!

REAL ESTATE IS ALREADY RECOVERING !!!

by | Jun 1, 2020 | Blog, Buyers, News, Real Estate Components, Real Estate News, Renters, Sellers

REAL ESTATE IS ALREADY RECOVERING !!!

Stay-at-home orders to prevent the spread of coronavirus put a major dent in the number of contracts that were signed in April, The index of pending home sales dropped 21.8% in April compared to March as the coronavirus pandemic kept prospective home-buyers out of the market, the National Association of Realtors reported Thursday.

The good news for the market, though, is that sales activity has shown signs of a rebound. “In the coming months, buying activity will rise as states reopen and more consumers feel comfortable about homebuying in the midst of the social distancing measures,” said Lawrence Yun, chief economist at the National Association of Realtors.

Mortgage applications for loans used to purchase homes have increased on a weekly basis for six consecutive weeks now, according to the Mortgage Bankers Association. That’s a sign that buyers are lining up financing in order to march into the housing market.

The remaining question is whether sellers will follow. “Home sales could bounce back if sellers also enter the market with similar enthusiasm to buyers,” said Danielle Hale, chief economist at Realtor.com. “Our latest weekly data shows an improvement in new listings declines, but inventory levels still remain well below levels seen this time last year.”

If the number of homes on the market remains constrained, so too will the number of sales, regardless of buyers’ demand.

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.

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For Sale-614 Dolcetto Dr, Davenport, FL

by | May 29, 2020 | Blog, Buyers, New Listing

For Sale-614 Dolcetto Dr, Davenport, FL

614 Dolcetto Dr, Davenport, FL

FOR SALE

$ Click for current price
3 BEDROOMS | 1702 SqFt

Location, location, location!! Prime, oversized lot with elevated aspect affording privacy for the beautiful pool & spa area and spectacular sunset views. In the much sought after, well maintained community of Countryside at Tuscan Ridge this 3 bed, 2 bath home provides over 1,700 sq ft of living accommodation comprising: formal living and dining room; separate family room open to the kitchen and with sliding doors leading to the covered lanai and pool; split bedroom plan – spacious master suite to the right with its’ own access to the pool and master bath with tub, separate shower, dual sinks and walk-in closet; two guest rooms sharing the guest bath lie to the left of the home while the kitchen is the central hub with direct access to the dining room and overlooking the family room. Off the kitchen there is a separate laundry room and also access to the garage which is currently in use as a games room. The fabulous extended pool, spa and deck area face south west for all day sun and the large covered lanai provides shade and is perfect for al fresco dining or simply chilling out …… The home has been a very successful vacation rental and is being sold furnished & equipped as seen with the exception of the TVs.Tuscan Ridge is ideally located on Hwy 27 with easy access to I-4 at ChampionsGate and /or Posner Park, shops, restaurants, golf courses, schools and medical facilities.

 

Fla. Approves more than 50% of Counties for Vacation Rentals

Fla. Approves more than 50% of Counties for Vacation Rentals

by | May 27, 2020 | Blog, Buyers, Real Estate News, Renters, Theme Parks and Attractions

Fla. Approves more than 50% of Counties for Vacation Rentals

Part of Florida Gov. Ron DeSantis’ response to the coronavirus pandemic was to authorize the Florida Department of Business and Professional Regulation (DBPR) to approve the reopening of vacation rentals based on plans submitted by counties. During the pandemic and until they received DBPR approval, those homes were been banned from accepting reservations or hosting renters after DeSantis signed an executive order in late March.

As of Tuesday morning, 42 of Florida’s 67 counties had received DBPR approval to reopen under safety guidelines set by each county. While those rules may be different, DeSantis set some general guidelines when he announced the change, such as prohibiting or discouraging renters from pandemic hotspots, such as New York or Louisiana.

Last week, however, the governor announced a reopening of vacation rentals, providing steps were taken to minimize the spread of COVID-19 and counties agreed to make sure those safety measures were followed.

Many counties quickly submitted approval plans following the announcement, and DBPR has quickly approved a number of them. On Friday, 26 counties had received DBPR approval, and that number grew to 42 only four days later.

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.

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