by Elsa Soto | Feb 22, 2019 | Uncategorized
How has housing improved since the Great Recession?
CHARLOTTE, N.C. – Feb. 22, 2019 – LendingTree analyzed the 50 largest U.S. metropolitan areas in the U.S. to see how housing prices, income and unemployment rates have recovered the most since the height of the Great Recession – and where values are still struggling. The analysis compares the latest available housing values to 2009. When the real estate bubble burst in late 2008, many Americans saw their home values fall drastically, but a lot has changed in the 10 years since. Though the rapid ascent of home prices increases is starting to slow, they already exceed 2006 highs.
Key findings
- On average, median home values have increased by nearly $50,000 across the 50 largest metros in the United States since 2009, likely due to increasing incomes and falling unemployment rates.
- Hartford, Conn., Chicago, Virginia Beach, Va., and Baltimore are the only metros in the study where median housing prices have fallen since 2009. On average, these areas have seen home prices fall nearly $6,700. A lack of strong employment opportunities and out-of-state migration might play a role.
- California housing markets – San Jose, San Francisco and Los Angeles – have recovered the most since 2009. Each of area has seen average housing prices climb by six-digit figures, with an average increase of $243,600, likely due the prevalence of high-paying jobs brought by tech companies like Google and Apple.
- Unemployment rates have fallen an average of 4.7 percentage points in the nation’s 50 largest metros – every metro included in LendingTree’s study. Detroit’s drop of nearly 10 percentage points is the largest in the nation; Houston’s 1.7 percentage point decrease is the smallest.
- The median household income in the surveyed metros has increased by an average $11,344 since 2009. San Antonio was the only metro where the median household income fell.
Florida cities included in the study Top 50 rank – City – Median home value change 2009-2017 15. Miami – $51,300 (22.6% higher) 27. Orlando – $27,400 (14.3% higher) 28. Tampa – $25,200 (15.9% higher) 33. Jacksonville – $20,100 (10.9% higher)
SOURCE: © 2019 Florida Realtors®
by Elsa Soto | Feb 22, 2019 | Uncategorized
New Retirement Home for Sale in Outdoor Resorts
For Sale – 9000 US HWY 192, Lot #810
Outdoor Resorts, Clermont FL
1 Bedroom | 1 Bathroom | 748 SQ FT
Nice one level home with an open floor plan. Living room, dining room, and kitchen are bright and airy with lots of windows and a high ceiling. This home offers storage everywhere – just check out the photos! Light and bright colours throughout. Separate laundry area. New a/c installed in November 2018. This home is located close to the entrance, the clubhouse, and the small pool. Be sure and put this home on your must see list.
ORO #810 – Living Room Rear to Front
by Elsa Soto | Sep 4, 2018 | Uncategorized
Solterra Resort – Inventory Home Available
Solterra Resort is located in heart of Four Corners, Florida which is in proximity to Disney World and every popular attractions close to it. Planned and built by prestigious builders who are known well for their Popular Vacation Home communities giving its residents the feel of an ultimate Florida Vacation. Solterra is nestled around plenty of conservation, never shying too far away from the natural habitat around. This beautiful 5 bedroom, 4 1/2 bathroom inventory home has just come back and on the market and is ready to be sold! Pick and choose your finishings as you prefer, this home is entirely about you! This Atlantic Floor Plan will be ready to go in September 2018 but there are many other inventory homes available in Solterra Resort.
| Atlantic Floor Plan- Solterra Resort |
| $393,240 |
| 5 Bedrooms | 4.5 Bathrooms | 2,828 q ft |
| Ready End of September 2018! |
| Spacious 2 Story Floor Plan with Covered Lanai |
Solterra Resort includes many amenities for a resort style community feel. Allow yourself to relax in the Cyber Cafe and catch up on the latest in the news, or work off your energy in the Fitness Center. This community was aimed for Disney visitors providing amenities that allow you to stay on property through out vacation.
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- Grand Clubhouse
- Pool & Spa
- Large Lounge
- Cyber Cafe
- Fitness Center
- Sports Center
- Picnic Area
- Childrens Playground
by Elsa Soto | Aug 14, 2018 | Uncategorized
WASHINGTON – Aug. 14, 2018 – The trend of slow-to-launch millennials staying at home with mom and dad has led to about 2.4 million fewer households forming, according to a National Association of Home Builders (NAHB) analysis. A rise in housing costs and personal debt are the chief factors keeping millennials at home, economists say.
The study looked at the number of younger adults, ages 25-34, who qualify for head-of-household status. The number of young adults living with their parents or others increased from 15.3 percent in 2000 to 26.3 percent in 2016, according to NAHB, with Florida one of the top five states for young adults slow to leave the nest.
“This story is quite different in different states,” says Natalia Siniavskaia, assistant vice president for housing policy research at the NAHB. “There are states where headship rates (the percentage that qualify for head-of-household status) for this age group are north of 50 percent, such as North Dakota and Iowa. And there are states like California and Florida where young adults are much more likely to live with parents.”
States with the priciest housing costs tend to have the lowest number of households headed by 25- to-34-year-olds. The five worst states for young adult household formations are, in order, Hawaii, New Jersey, California, Florida and Alaska.
On the other hand, the states that have more affordable housing tend to have higher rates of young adult household formation. The five states that have some of the best homeownership rates among millennials are North Dakota, Iowa, South Dakota, Nebraska, and Kansas.
The majority of Americans recently surveyed say they believe 28 is the ideal age for purchasing a first home, according to a recent Bankrate survey.
“As the economic situation continues to improve, it should give more stability and confidence to younger adults to buy their homes or leave parental homes,” Siniavskaia says.
Census data may already be starting to show a change: The homeownership rate for younger adults has increased in the last year from 34.5 percent to 35.3 percent, according to federal data.
Source: “Millennials Still Crashing With Parents in Strong Economy and it Reveals Their Ambition,” Bankrate.com (Aug. 7, 2018)
© Copyright 2018 INFORMATION INC., Bethesda, MD (301) 215-4688
Source: Florida Realtors
MILLENNIALS: We are here to help you through this transition. Are you ready to make the move out of your parents’ place and purchase your very own home? Do not wait!! Mortgage rates are on the rise along with property prices. Do not miss your opportunity. Contact one of our experienced agents today to get the ball rolling!
by Elsa Soto | Jun 20, 2018 | Uncategorized
Encore Resort at Reunion – Inventory Homes
Looking for a quick delivery? Encore Resort at Reunion is offering up to $25,000 in savings on their inventory homes available for sale. This Vacation Villa resort is located close to I4 making travels to and from the resort-styled community and Orlando’s attractions a breeze. Encore Resort is a well planned community which offers its residents an abundance of amenities inside and outside of their villa. Residents can find homes ranging from 2,400 square feet of living space to more than 6,400 square feet with up to 12 bedrooms and plenty of bathrooms for the entire family. Below you can find some information about the inventory home available, please click on “Request Details” to view more and contact us! Interested in other Inventory Homes available in Encore Resort at Reunion and surrounding communities, click here.
Perhaps your day calls for nothing but sunshine and water; the Encore Club and AquaPark will do the trick! As you enter the Encore Club, you can find yourself at the Concierge Desk or Guest Services finding the perfect spot for dinner that night, The Grab N Go Market to grab something quick, The Hang Ten Hideaway for the kids to enjoy, or one of the two on-site restaurants for a scrumptious lunch! The AquaPark offers tons of fun on the slippery racing slides, tube slides, a drop slide and Kids Splash Zone. If the sun gets too warm, take a break and cool off at the Pool Side Bar, the Bis Grill.
| Manchester B – Encore Resort |
$548,110 NOW $528,110 |
| 5 Bedrooms |5 Bathrooms | 2,978 sq ft |
| Furnished INCLUDED! |
| Over Sized Lanai, 14X15 Pool with Spa |
by Elsa Soto | May 10, 2018 | Uncategorized, Buyers, Homes, Villas and Condos, Investment Property in Florida, Mortgages, News, Property for Sale in Orlando, Real Estate News
WASHINGTON (AP) – May 10, 2018 – The key long-term U.S. mortgage rate held steady this week, providing a lure for potential homebuyers as the spring buying season goes forward.
Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages was 4.55 percent, unchanged from last week. The benchmark rate rose steadily for most of April, reaching its highest level in more than four years. By contrast, the rate averaged 4.05 percent a year ago.
The average rate on 15-year, fixed-rate loans declined slightly to 4.01 percent from 4.03 percent last week.
Despite higher borrowing costs and home prices, demand for home purchases has grown in the spring buying season as the economic outlook has continued to improve and bolstered consumer confidence.
Homes sold at a solid annual pace of 5.6 million in March, the National Association of Realtors reported last week, even though the number of houses for sale has plunged. As a result, average home prices are rising at more than twice the pace of wages.
The tight job market, solid economic growth and restrained inflation have kept mortgage rates steady, Freddie Mac chief economist Sam Khater suggested. “As we head into late spring, the demand for (mortgage) credit remains rock solid, which should set us up for another robust summer home-sales season,” he said.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.
The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. The fees on 30-year and 15-year fixed-rate mortgages were unchanged from last week at 0.5 point and 0.4 point, respectively.
The average rate for five-year adjustable-rate mortgages rose to 3.77 percent from 3.69 percent last week. The fee remained at 0.3 percent.
In your search for your Orlando Vacation Home, considering mortgage rates and fees play an important role. Be in the know with your Local Realtor at Bardell!! We are sure to keep you up to date with fitting properties for your situations and the best loan options to fit your budget. You are not alone in this journey! Contact us today to lock in your mortgage rate with a reputable lender and find your investment or second/vacation home today.
Source: Florida Realtors
