Did you know? The most recent data from The Federal Reserve indicates that the average age of home buyers rose to an all-time high of 55 in 2020. Interestingly, only 31% of these buyers were first-time home buyers. This is the lowest percentage of first-time home buyers seen since 1987. With this said, millennials are… Continue reading More First-Time Buyers Are Delaying Home Ownership
Category: Home Buying
Is Fear of Missing Out (FOMO) Driving the Real Estate Market?
The number of bidding wars in the housing market have dropped for the first time in six months as an increasing number of buyers get priced out of the market, according to a new report. In addition, pending home sales nationwide are now down 8% year-over-year. Nonetheless, we are still seeing a number of hot housing… Continue reading Is Fear of Missing Out (FOMO) Driving the Real Estate Market?
Will We See More Home Price Reductions?
Mortgage interest rates have been increasing rapidly in the recent months as the Federal Reserve continues to battle historically high inflation. This has already resulted in mortgage applications being down 6% from a year ago. Needless to say, rapidly rising mortgage interest rates combined with already high home prices is pricing many would-be home buyers… Continue reading Will We See More Home Price Reductions?
Demand For Vacation Homes is Slowing
Vacation homes have been one of the hottest sectors in the real estate market for the past several years throughout the pandemic. Of course, there is no better example of a red-hot vacation home market than here in South Florida. As we have discussed in various articles, perhaps the biggest factor in this market has… Continue reading Demand For Vacation Homes is Slowing
5 Key Areas To Focus On During a Home Inspection
In the current super competitive housing market it surely feels like a relief for buyers once an offer is accepted and a property is under contract. Of course, there are still several steps remaining in the buying process. One crucial step is the home inspection. Even if you are a cash buyer in this highly… Continue reading 5 Key Areas To Focus On During a Home Inspection
Top 10 Reasons To Move To South Florida
Did you know? The state of Florida welcomed more visitors in 2021 than in any other year in recorded state history – nearly 118 million people. Of course, with the tropical climate, beautiful beaches, and various amusement parks, The Sunshine State’s popularity as a tourist attraction is nothing new. With this said, freedom from restrictive… Continue reading Top 10 Reasons To Move To South Florida
Hidden Expenses When Buying a Condo
Although the entire real estate market is experiencing substantial price appreciation, single-family homes have been leading the way. With the push towards opting for more space, many Americans have been looking to single-family homes in the suburbs to meet these needs. Needless to say, the robust price growth combined with limited inventory of single-family homes… Continue reading Hidden Expenses When Buying a Condo
Most Wanted Features From First-Time Homebuyers
Millennials represent the lion’s share of home buyers in this country. With many of these being first-time home buyers, a recent study called “What Home Buyers Really Want, 2021 Edition” from the National Association of Home Builders (NAHB) sought out to determine the most desired home and community features from these buyers. The study is… Continue reading Most Wanted Features From First-Time Homebuyers
What to Expect in the Spring Buying Season
We have officially entered the 3rd spring home buying season since COVID-19 emerged. Although most people did not know what to expect from the housing market as we entered the pandemic, it is safe to say that insatiable demand resulting in skyrocketing prices was not expected by many (or any). As lock downs began to… Continue reading What to Expect in the Spring Buying Season
Are Home Bidding Wars Intensifying?
It has been well documented that the real estate market has been in a frenzy the past few years. With Americans seeking more space in the home and many having the ability to work remotely, we have seen significant movement in the market. The challenge has been the tight inventory of homes for sale. Already… Continue reading Are Home Bidding Wars Intensifying?