Tanya Robotham Realtor

Miami ranked No. 8 on the hottest markets list and is one of the few cities that has maintained its price growth with little to no dropoff since mortgage rates started rising, a Zillow report said.

Miami projected to be one of the hottest U.S. housing markets in 2023 - South Florida Agent Magazine Miami will be one of the nation’s hottest housing markets this year, according to a recent Zillow forecast.

The real estate market is starting to shift to more normal conditions.

1 in 4 Sellers Cutting Price as Market Cools Altos Research: Rising rates and economic shifts have slowed down super-eager buyers as the market shifts to “much more normal conditions.”

Home Prices Slowdown ‘Inevitable’.

NAR: Home Prices Slowdown ‘Inevitable’ Chief Economist Yun said in an interview that it’s “just inevitable that home price appreciation will slow down in the upcoming months.”

Sales could fall as much as 10% this year due to higher mortgage rates.

Higher Mortgage Rates Set Stage for Sales Slowdown This week’s 30-year mortgage rate averaged 5.11%. Owners with locked-in lower rates have less financial incentive to sell; would-be buyers face higher loan costs.

Prices still expected to increase in Miami.

Miami-area home prices climb nearly 20% in the last year; another 9% growth projected by spring 2023 - South Florida Agent Magazine CoreLogic predicts price increases to slow by next spring in most areas, but the drop-off in South Florida is not as severe as some markets.

https://southfloridaagentmagazine.com/2021/07/12/how-long-would-it-take-a-renter-to-save-up-for-a-down-payment-in-todays-market/

How long would it take a renter to save up for a down payment in today’s market? - South Florida Agent Magazine It could take Miami-area renters more than eight years to save for a down payment in today’s market.

Experts show that South Florida is approaching a peak at 13% over market value for home prices and the coming expected correction will mean a period of flat property appreciation. However, lack of inventory and continuing population growth will not make a 2007 - 2012 type housing crash, when most homes lost half or more of their values.

Sellers call the shots in Florida’s overvalued housing market - South Florida Agent Magazine Florida homes are selling for more than 17% above their long-term pricing trend according to professors at Florida Atlantic University and Florida International University.

Mortgage rates rose this week and hit 3% due in part to concern over the spike in inflation.

Mortgage Rates Rise This Week and Hit 3% For the first time since April, average rates for a 30-year loan hit 3%, up from last week’s 2.94%, due in part to an increased concern over inflation.

It will be my pleasure to help you with all your real estate needs.

Today’s Housing Market? ‘Not the Time for Amateurs’ It may be possible to buy a home without the help of a Realtor – but it’s hard to see how given today’s multiple bid competitions for a limited number of homes.

Market Update. Median prices rose 15%, pending home sales were up 29% and new listings fell 11% from the same period a year earlier.

More than half of homes sell within two weeks - South Florida Agent Magazine Median prices rose 15%, pending home sales were up 29%, and new listings fell 11% from the same period a year earlier.

Just closed! Happy client! 😊

Pricing your property correctly is crucial. You want to sell your property in a timely manner at the highest price possible. Current market conditions determine the value.
Pricing too high or too low can cost you time and money. Realistic pricing will achieve a maximum sale price in a reasonable amount of time.

Please contact me for a free comparative market analysis on your home.

A very Merry Christmas and Happy Holidays! 🎉

Nearly half of Miami listings in bidding wars - South Florida Agent Magazine More than half of Redfin listings (54%) experienced bidding wars in November, down only 4 percentage points from the previous month, according to the online broker’s new report.

Mortgage Rates fall to new lows.

Mortgage Rates Fall to New Lows – 30-Year Loan at 2.72% Last week, a stock market surge pushed rates a bit higher. This week, the average 30-year, fixed-rate mortgage fell once again to 2.72%, its 13th record low this year.

Existing-home sales ‘through the roof’ in September - Miami Agent Magazine Home sales soared 20.9% year over year to 6.5 million in September, according to the National Association of Realtors.

Market update:

Housing continues to play an important supportive role in the country's economic recovery, according to the Fannie Mae Economic and Strategic Research (ESR) Group. The pace of existing home sales jumped in July to a level not seen since 2006 and, importantly, was followed by strong pending sales, purchase mortgage applications and construction data. As a result, the ESR Group substantially upgraded its full-year 2020 forecasts for both new and existing home sales—and, with robust refinance demand, for total mortgage originations to $3.87 trillion, which would be the highest nominal dollar annual total in the series' 32-year history.

As expected, the pace of economic recovery is slowing, but housing remains highly supportive. The Federal Reserve has made clear that it has no intention of raising interest rates in the near future, and, as mortgage spreads continue compressing, households are seizing the opportunity to refinance their existing mortgages. Historically, low interest rates are also an inducement to buy homes, but slow supply growth continues to result in high levels of home price appreciation, which is offsetting some of the affordability benefits of the lower rate environment.

- Florida Realtors.org

www.nar.realtor The National Association of REALTORS® is America's largest trade association, representing 1.4 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.

Fla.’s Single-Family For-Sale Inventory Hits Record Low in 2Q There’s never been a better time to sell a home. Fla. had only a 2.8-months’ supply of single-family homes in the second quarter – the lowest amount since at least 2008. Economists generally consider a six-month supply to be balanced between buyers and sellers.

Mortgage Rates Drop to Record Low – 8th Time this Year The average rate on a 30-year, fixed-rate mortgage fell to 2.88% this week compared to last week’s 2.99%. One year ago, it was 3.60%.

Miami-Dade, Broward and Palm Beach home prices have been rising due to strong demand and limited supply. Surging pending sales reflect market recovery post COVID-19 impact.

Wishing you all a blessed Good Friday. Stay safe. 🙏🏽❤️🤗

Sharing some updates on the real estate market:

RATES RECEDE
Mortgage interest rates have trended down for two consecutive weeks according to Freddie Mac's Primary Mortgage Market Survey (PMMS) for the week ending April 2. The PMMS says the rate drop "reflects improvements in market liquidity and sentiment."

FORBEARANCE FACTS
Mortgage forbearance is one of several options being offered to help Americans suffering as a result of pandemic control measures. Forbearance terms can vary, and borrowers should make sure they understand what their loan servicers will require. Some servicers are offering to tack deferred payment amounts on to the total loan balance, while others are requiring deferred payments to be made in a structured plan at the end of the forbearance period. The Mortgage Bankers Association reports that requests to delay mortgage payments grew by 1,270% between the weeks of March 2 and March 16, and another 1,896% between the weeks of March 16 and March 30.

ELDERLY ASSETS
Homeowners 62 and older saw their home equity jump $39 billion dollars between the third and fourth quarter of 2019 according to the Reverse Mortgage Market Index from the National Reverse Mortgage Lenders Association (NRMLA). NRMLA says that senior housing wealth has reached a record $7.23 trillion dollars in the U.S., the highest amount since they began tracking it in 2000.

Crossing that finish line. The Keyes Company supporting the community. Let me help you cross the finish line to home ownership. 😊

https://client.fixedfocusphotography.com/2020dcc?eq=5054 #

Fixed Focus Photography Fixed Focus Photography

The Keyes Company- supporting our community. UM Sylvester Dolphins Cancer Challenge Walk Run Ride.

Florida homeowners.

You will now be fined for texting and driving in Florida New year, new punishments for texting behind the wheel. The ban in Florida to text and drive has become tougher at midnight – you will now be fined for violating the law. The law states no texting while your car is in motion. You can use your smartphone at red lights while stopped. You can …

Tanya Robotham Realtor updated their website address.