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Navigating Home Price Headlines: Clearing Up the Confusion 

Navigating Home Price Headlines: Clearing Up the Confusion 

Navigating Home Price Headlines: Clearing Up the Confusion 

Concerns about falling home prices may arise from headlines in the news, but it’s important to understand the complete picture. Despite some occasional fluctuations, the national data for 2023 reveals a trend of positive growth in home prices throughout the year, dispelling notions of a widespread decline.

While variations exist across different markets, the overarching narrative of 2023 reflects an upward trajectory in home prices. Although there were instances of minor declines in certain months at the national level, they were more of an anomaly than a prevailing trend.

In essence, 2023 marked a return to a more typical pattern of home price appreciation. Understanding the dynamics of the residential real estate market sheds light on this phenomenon.

Seasonality plays a significant role in the housing market, characterized by predictable ebbs and flows. Spring typically heralds the peak homebuying season, marked by heightened activity and robust demand. This momentum often carries over into the summer months before gradually tapering off toward the year’s end. Correspondingly, home prices tend to exhibit growth during periods of heightened demand, aligning with the cyclical nature of the market.

Here’s What You Need to Keep in Mind: When it comes to understanding home price trends, headlines often focus on minor month-to-month fluctuations rather than the broader annual perspective. This can create a skewed perception of the housing market’s overall health, as it zooms in on isolated segments of the narrative.

It’s crucial to recognize that the housing market experienced a return to seasonal patterns last year, marking a positive shift from the unprecedented surge seen during the peak of the pandemic. While this return to normalcy may seem like a subtle change, it actually signifies a more sustainable trajectory for home prices.

If concerns linger about the possibility of home prices declining, rest assured that current indicators suggest otherwise. Projections for this year anticipate continued price appreciation, driven by factors such as declining mortgage rates and heightened buyer demand. With more prospective buyers entering the market amid persistently low housing inventory, the upward pressure on prices is expected to persist.

In Conclusion, don’t let sensationalized headlines about home prices cloud your judgment. The comprehensive data from 2023 indicates an overall upward trend in home prices. Should you have any questions or uncertainties about market dynamics, consider reaching out to a reputable real estate professional for personalized insights and guidance tailored to your specific area.

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.

 

Discover the Allure of Heritage Hills: Where Active Living Meets Mediterranean

Discover the Allure of Heritage Hills: Where Active Living Meets Mediterranean

Discover the Allure of Heritage Hills: Where Active Living Meets Mediterranean

Nestled in the homes for sale in Heritage Hills Clermont by Lennar stands as a testament to active adult living at its finest. This gated community seamlessly combines the convenience of proximity to major highways and shopping centers with the tranquility of picturesque landscapes. As you step into Heritage Hills, you are greeted by gentle rolling green hills, sprawling parks, crystalline lakes, and wooded preserves that collectively enhance the quality of life for its residents.

HERITAGE HILLS COMMUNITY AMENITIES 

At the heart of Heritage Hills lies a 19,000 square-foot Mediterranean-inspired clubhouse, serving as a hub for the vibrant community of 55 and better residents. Whether you’re an avid fitness enthusiast, a social butterfly, or someone who enjoys quiet moments, Heritage Hills has something for everyone such as: 

– Clubhouse/Amenity Center

– Fitness Center

– Outdoor Pool

– Aerobics & Dance Studio

– Card Room

– Arts & Crafts Studio

– Ballroom

– Computers

– Library

– Billiards

– Walking & Biking Trails

– Tennis Courts

– Pickleball Courts

– Bocce Ball Courts

– Shuffleboard Courts

– Basketball Court

– Parks & Natural Space

– Demonstration Kitchen

– Outdoor Patio

– Pet Park

– Golf Practice Facilities/Putting Green

– Picnic Area

– Gazebo

– Lounge

SCHOOLS 

Imagine Schools At South Lake 1.5mi

Pinecrest Lakes Academy          4.2mi

East Ridge High School               2.2mi

 

LOCAL SPORTS, PARKS & ENTERTAINMENT 

Kings Ridge Golf Club – Designed by Lloyd Clifton, offers a challenging 18-hole, par 71 experience with rolling terrain in Clermont, Florida. It features elevated tees, rolling fairways, and demanding greens. The Ridge Course, designed by Ron Garl, is a par 57 gem with scenic views, water hazards, multi-tiered greens, and various challenges over its 3660 yards. Both courses provide an enjoyable yet testing experience for golfers.

Lake Louisa State Park – Provides a “natural theme park” with miles of trails to explore, cabins, paddling, fishing, swimming, glamping and more. Head up to Silver Springs State Park near Ocala to take a trip on glass-bottomed boats, a tourism experience that dates back to the 1870s. Paddling and hiking are also available within the park.

Hancock Park – Home to the Clermont Girls Softball League, offers five softball fields, two soccer fields, and a spacious playground with separate areas for different age groups. The park features a full concession area, picnic tables, and bathrooms. Visitors appreciate the large parking area and a nearby Ramada for shade and snacks.

 

 

Uncover the unparalleled allure and wealth of amenities that define Heritage Hills as the quintessential destination for those seeking an active adult lifestyle. From its picturesque surroundings to its array of recreational facilities, Heritage Hills embodies the essence of vibrant living. Reach out to RE/MAX Heritage today by calling (863) 424-2309 or visit us at our office located at 9110 HWY 192 Suite A. Let our experienced team lead you on a journey to discover your dream home in this enchanting enclave tailored for residents aged 55 and better.

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.

 

January Real Estate Sales Report

January Real Estate Sales Report

January Real Estate Sales Report

WASHINGTON (February 22, 2024) – Existing-home sales grew in January, according to the National Association of REALTORS®. Among the four major U.S. regions, sales accelerated in the Midwest, South and West, and remained steady in the Northeast. Year-over-year, sales improved in the West, and decreased in the Northeast, Midwest and South.

Total existing-home sales1 – completed transactions that include single-family homes, townhomes, condominiums and co-ops – elevated 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January. Year-over-year, sales slipped 1.7% (down from 4.07 million in January 2023).

“While home sales remain sizably lower than a couple of years ago, January’s monthly gain is the start of more supply and demand,” said NAR Chief Economist Lawrence Yun. “Listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year.”

Total housing inventory2 registered at the end of January was 1.01 million units, up 2.0% from December and 3.1% from one year ago (980,000). Unsold inventory sits at a 3.0-month supply at the current sales pace, down from 3.1 months in December but up from 2.9 months in January 2023.

The median existing-home price3 for all housing types in January was $379,100, an increase of 5.1% from one year ago ($360,800). All four U.S. regions posted price increases.

“The median home price reached an all-time high for the month of January,” Yun added. “Multiple offers are common on mid-priced homes, and many homes were still sold within a month. The elevated share of cash deals – 32% – indicated a market full of multiple offers and propelled by record-high housing wealth.”

REALTORS® Confidence Index

According to the monthly REALTORS® Confidence Index, properties typically remained on the market for 36 days in January, up from 29 days in December and 33 days in January 2023.

First-time buyers were responsible for 28% of sales in January, down from 29% in December and 31% in January 2023. NAR’s 2023 Profile of Home Buyers and Sellers – released in November 20234 – found that the annual share of first-time buyers was 32%.

All-cash sales accounted for 32% of transactions in January, up from 29% in both December and one year ago.

Individual investors or second-home buyers, who make up many cash sales, purchased 17% of homes in January, up from 16% in December and January 2023.

Distressed sales5 – foreclosures and short sales – represented 2% of sales in January, virtually unchanged from last month and the previous year.

Mortgage Rates

According to Freddie Mac, the 30-year fixed-rate mortgage(link is external) averaged 6.77% as of February 15. That’s up from 6.64% the previous week and 6.32% one year ago.

Single-family and Condo/Co-op Sales

Single-family home sales moved higher to a seasonally adjusted annual rate of 3.6 million in January, up 3.4% from 3.48 million in December but down 1.4% from the prior year. The median existing single-family home price was $383,500 in January, up 5.0% from January 2023.

At a seasonally adjusted annual rate of 400,000 units in January, existing condominium and co-op sales were unchanged from last month and down 4.8% from one year ago (420,000 units). The median existing condo price was $339,400 in January, up 5.7% from the previous year ($321,100).

Regional Breakdown

At 480,000 units, existing-home sales in the Northeast were unchanged from December but down 5.9% from January 2023. The median price in the Northeast was $434,300, up 10.1% from the prior year.

In the Midwest, existing-home sales increased 2.2% from one month ago to an annual rate of 950,000 in January, down 3.1% from last year. The median price in the Midwest was $271,700, up 7.6% from January 2023.

Existing-home sales in the South rose 4.0% from December to an annual rate of 1.84 million in January, a decline of 1.6% from the previous year. The median price in the South was $345,100, up 4.1% from one year ago.

In the West, existing-home sales elevated 4.3% from a month ago to an annual rate of 730,000 in January and grew 2.8% from one year earlier. The median price in the West was $572,100, up 6.3% from January 2023.

“More listings will help Americans move,” said NAR President Kevin Sears, broker-partner of Sears Real Estate in Springfield, Massachusetts. “That’s why NAR has pushed for the passage of H.R. 1321 – The More Homes on the Market Act – which would lower the tax hit on home sales and bring additional inventory to the market.”

Why RE/MAX Heritage

At RE/MAX Heritage, we’re your go-to experts for everything related to Florida real estate, whether you’re in the market for new or resale vacation homes, investment opportunities, retirement properties, residential homes, or in need of long-term property management and leasing services. Essentially, we’re your bridge to purchasing and selling properties in the vibrant Orlando area.

Our journey began as Bardell Real Estate in 1989, and for more than three decades, we’ve dedicated ourselves to serving the Central Florida community. This long-standing commitment has allowed us to amass extensive knowledge, experience, and a stellar reputation for offering top-tier representation and services. The transformation into a RE/MAX office in December 2021 raised some questions, and here’s why we made that leap.

Our foundation is built on the core values of honesty, integrity, and respect—principles we hold dear and incorporate into every aspect of our business. By merging the unparalleled strengths of RE/MAX with Bardell Real Estate’s rich legacy, we guarantee our clients the best of both worlds: continued access to exceptional real estate services now and well into the future. That’s the promise of 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.

 

Effective Strategies for Purchasing Your First Home 

Effective Strategies for Purchasing Your First Home 

Effective Strategies for Purchasing Your First Home 

Embarking on the journey to buy your first home is a monumental step filled with excitement and potential. However, in today’s housing market, there are challenges to navigate, including limited inventory and affordability concerns. Here are three essential tips to help you transform your dream of homeownership into a reality:

Take Advantage of First-Time Homebuyer Programs

The initial financial requirements of homeownership, such as the down payment and closing costs, may seem intimidating. Fortunately, there are numerous assistance programs tailored for first-time homebuyers that can facilitate securing a loan with minimal or no upfront costs. These programs often offer more flexible requirements, including lower down payments and credit score thresholds. Many also provide assistance with closing costs and down payments through grants and low-interest loans. To explore your options further, consult your state’s housing authority or visit websites like Down Payment Resource for valuable insights.

Explore Condos and Townhomes

Given the current shortage of available homes for sale, prices are on the rise, presenting affordability challenges for buyers. One practical approach to address this issue is to consider condominiums and townhomes as viable alternatives. These properties typically offer lower price points compared to single-family homes and serve as accessible entry points into homeownership. While they may be smaller in size, condos and townhomes still provide the opportunity to establish equity and lay the foundation for future real estate endeavors. Hannah Jones, Senior Economic Analyst at Realtor.com, emphasizes that condos can be an excellent starting point for individuals with budget constraints, enabling them to enter the market and accumulate equity over time.

Explore Multi-Generational Living Arrangements

Pooling resources with friends or family members to purchase a multi-generational home is another avenue to consider. By sharing the financial responsibilities, such as the mortgage and household expenses, buyers can enhance their purchasing power and qualify for larger mortgages. This collaborative approach becomes especially advantageous in today’s high-cost housing market, offering buyers the opportunity to navigate affordability challenges more effectively.

In conclusion, by leveraging first-time homebuyer programs, considering alternative housing options like condos and townhomes, and exploring multi-generational living arrangements, you can enhance your prospects of purchasing your first home. When you’re ready to take the next step, enlist the guidance of a local real estate agent who can provide invaluable support and insights throughout the homebuying process.

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.

 

Meet Josh Postlewait – Real Estate Agent at Re/Max Heritage

Meet Josh Postlewait – Real Estate Agent at Re/Max Heritage

Meet Josh Postlewait – Real Estate Agent at Re/Max Heritage

Greetings, I’m Josh Postlewait, and I take immense pride in serving as a dedicated agent at RE/MAX Heritage, an esteemed brokerage with a rich history spanning over three decades. At RE/MAX Heritage, we’ve cultivated a legacy of excellence, and I’m honored to be a part of it.

One of the key reasons I chose to align myself with RE/MAX Heritage is the unparalleled quality of training they offer to their agents. With comprehensive and ongoing training programs, I’m equipped with the knowledge and skills necessary to excel in this competitive industry. Moreover, the collaborative environment fostered at RE/MAX Heritage ensures that I always have a supportive team by my side, ready to assist whenever needed.

The experience and expertise of my broker further solidify my decision to join RE/MAX Heritage. Drawing from years of invaluable experience, my broker adds tremendous value, providing guidance and insight that elevate my capabilities as an agent.

When considering why RE/MAX is the ideal choice for you, there are myriad compelling reasons. Firstly, RE/MAX boasts a global presence, offering unparalleled outreach that extends far beyond local markets. This worldwide network opens doors to a vast array of opportunities, ensuring that your real estate needs are met with the utmost efficiency and effectiveness.

Additionally, RE/MAX is a name synonymous with trust and reliability. With experienced brokers like ours at RE/MAX Heritage, you can rest assured that any questions or concerns you may have will be addressed promptly and comprehensively. Our team stands ready to offer support and guidance at any time, empowering you to make informed decisions with confidence.

In essence, choosing RE/MAX means embracing a legacy of excellence, professionalism, and unwavering commitment to client satisfaction. Join us at RE/MAX Heritage, where your real estate journey is met with unparalleled expertise and dedication every step of the way.

To access the video, simply click on the image of me located above. This action will direct you straight to the video content.

Key Points

00:00:00
– Introduction by Josh Postlewait, RE/MAXHeritage agent
00:00:05
The reasons why you should choose RE/MAX is because the worldwide outreach and it’s also a name you can trust with experience brokers to answer any questions that you need at any given time
00:00:11
– Quality of training and team support at RE/MAX Heritage
00:00:17
– Value of broker’s experience
00:00:22
– Reasons to choose RE/MAX: worldwide outreach and trusted name
00:00:28
– Access to experienced brokers for any questions

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.

 

Meet our Incredible Broker, Steve Silcock!!! 

Meet our Incredible Broker, Steve Silcock!!! 

Meet our Incredible Broker, Steve Silcock!!! 

Nick Bailey, esteemed President and CEO of Remax, graciously orchestrates a captivating and exclusive episode within the illustrious Mergers and Acquisitions Growth Series. This particular installment features none other than the distinguished Steve Silcock, celebrated as a top-tier broker owner hailing from Remax Heritage. With a narrative steeped in resilience and ambition, Silcock recounts his remarkable odyssey, tracing his steps from the verdant shores of the United Kingdom to the bustling landscape of the real estate market.

Embarking on a journey fraught with uncertainty, Silcock boldly ventures into the realm of entrepreneurship, acquiring a modest local brokerage and igniting the flames of his entrepreneurial spirit. Through a tapestry woven with determination and foresight, he meticulously nurtures his enterprise, navigating the labyrinthine pathways of the industry with unwavering resolve.

Yet, in the tempestuous seas of independent brokerage, Silcock confronts formidable challenges, grappling with the elusive pursuit of growth amidst a landscape teeming with competition. Undeterred by adversity, he steadfastly perseveres, harnessing his innate ingenuity to surmount each obstacle that looms in his path.

It is within this crucible of trials and tribulations that Silcock discovers the transformative potential of Remax, a beacon of innovation and excellence in the real estate sphere. As he reflects upon the pivotal moment of transition, wherein his brokerage seamlessly integrates into the Remax family, Silcock elucidates the profound value proposition that Remax proffers to visionary entrepreneurs like himself.

In a riveting dialogue infused with wisdom and insight, Silcock delves into the essence of Remax’s unparalleled support system, elucidating how it catalyzes growth, empowers agents, and propels brokerages towards unparalleled heights of success. Through his compelling narrative, he not only illuminates the transformative impact of aligning with Remax but also imparts invaluable lessons garnered from his own saga of triumph and perseverance.

Key Points: 

  • [0:06] Nick Bailey introduces a special edition of the Mergers and Acquisitions Growth Series featuring Steve Silcock, a top broker owner of Remax Heritage. 
  • [0:32] Silcock shares that he runs two Remax locations in the Sunshine State with a total of 24 agents. 
  • [1:00] Silcock discusses his immigration from the UK and the process of buying a local independent brokerage, which ultimately became a new Remax brokerage after 15 months. 
  • [1:43] Silcock explains that the growth potential and value proposition of Remax were the reasons behind his decision to transition from an independent brokerage. 

Steve Silcock faced challenges in achieving growth as an independent broker, one of which was maintaining a certain size and being unable to push beyond that point. Additionally, he emphasized the difficulty in attracting and retaining agents without a strong value proposition. Silcock expressed that despite achieving a certain size, the brokerage stayed there and struggled to surpass that level. This highlights the challenge of expanding and pushing beyond a plateau as an independent broker.

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.