Latitude 26 homes Southwest Florida

A couple of surprises in here!

Unexpectedly Affordable Places for 2024 A new report shows Florida cities, including Miami, Sarasota and Naples, are more affordable than many realize.

March numbers are in and there's good news on both sides: Sellers prices are still increasing, albeit at a slower pace and Inventory levels are giving Buyers more options when shopping.

What projects are you working on?

Budget-Minded Remodels Shaping Home Improvement Homeowners who are remodeling this year plan to make improvements in three interior rooms and complete two or more outdoor projects.

Prices saw a modest increase even with a little more inventory and higher interest rates.

I am here to manage your move, regardless of the number of milesl

Tips for Long-Distance Homebuying One of the keys to buying a house from a distance is having a trusted agent who understands the buyer’s needs and can offer guidance along the way.

Fla.’s Jan. Housing: Median Prices, New Listings Up Florida Realtors: Fla.’s single-family median price up 3.8% ($405K), condo median up 3.2% ($320K). New listings and inventory levels up in both property categories.

Most of us would like to see a rate cut for various reasons. But is it the right time?

Why Isn’t the Fed Ready to Cut Rates? The Fed’s cautious approach to rate cuts comes with risks, including weakening the economy and launching a recession.

Builders have been offering incentives such as interest rate buy down, free upgrade options, closing cost credits and more!

Nearly 32% of Home Sales in Q4 Were Newly Built New construction accounted for a large share of home sales in 2023 Q4 because homebuilding has increased and the number of homeowners selling has decreased, Redfin said.

Looking for a deal?

Forecast: Florida Cities to See Home Price Drop Home prices in several Florida metro areas have the highest chances of dropping while prices in other parts of the U.S. will go up through November 2024, CoreLogic said.

Long-Term Mortgage Rates Fall to 7.22% It’s the lowest rate for a 30-year, fixed-rate mortgage since Sept. Freddie Mac calls it an “encouraging development” for buyers as the market sentiment shifts.

Let's hope this trend continues!

Average 30-Year Mortgage Rate Falls to 7.44% Last week, it was 7.5%. It’s the third weekly drop in a row, good news for buyers facing persistently high prices and a near-historic low number of for-sale homes.

If you or someone you know has applied to the program, this is good news!

Gov. Signs My Safe Florida Home and Other Bills Gov. Ron DeSantis signed bills passed during the recent special session, including up to $10K for owners to harden homes and more aid for Hurricane Idalia victims.

WOW!

Sales Tax Holiday Starts on Energy Star Appliances On July 1, a Fla. sales tax exemption period began for Energy Star appliances, but there’s no rush to buy: It runs for a full year, through June 30, 2024.

Sale Prices Top List Prices – First Time in a Year For the first time since last August, the average sale-to-list price ratio surpassed 100%, says Redfin, as low inventory and steady demand buoy home prices.

Citizens’ Rate Hikes Not Bad Compared to Others The state’s “insurer of last resort” has a growing number of policies because it’s the cheapest option. Since 2021, 3 insurers’ rates have gone up over 40%, 1 over 60%.

Florida is still hot, Hot, HOT!

FHFA: 1Q Home Prices Up 4.3% – but More in Fla. The Miami area led the nation in price gains with 14.1%, year-to-year, but of 8 Fla. metros included, even the lowest-ranking one (Tampa, No. 36) saw a 5.6% gain.

If DeSantis Signs Bill, Disaster Tax Holiday Starts Sat. Fla. lawmakers created six sales tax “holidays” in 2023, with expanded timelines and products. Once the bill is signed, the first hurricane holiday starts Sat.

Not too surprising!

2 Fla. Cities in Top 10 for ‘Best Places to Live’ U.S. News & World Report for 2023-2024: Sarasota ranked No. 5 and Naples No. 6. Fla. cities landed 7 of the top 50 spots and 12 of the top 100 spots.

Did you know???? There's no price too high for the Happiest Place on Earth!

For Some, It’s Not ‘Near the Beach,’ It’s Disney For prices ranging from a few million to $19M– and yearly fees from $20K to $30K – upscale Disney fans live 5 minutes from Epcot and enjoy a roster of insider amenities.

Mortgage Rates Down 5th Week in a Row The declining mortgage-rate streak continued, though the 30-year, fixed-rate drop from last week’s 6.28% to this week’s 6.27% was relatively small.

Feb 2023 Market Report

FEBRUARY 2023 Market Report Video This video highlights activity in the Naples real estate market as reported in the FEBRUARY 2023 Market Report. ...

SW Fla. Doing Fine After Hurricane and Pandemic CEO of Sage Communities: “Who ever thought that a devastating hurricane would cause a real estate boom?” Ian’s hardest-hit barrier islands are now hot spots.

Analysis: Fla.’s Tax Burden One of Lowest in U.S. Calif. Gov. Newsom says his state is “well worth the price” compared to Fla., but an analysis finds Fla. at No. 45 for overall tax burden while Calif. is No. 9.

A New Bank Crisis? Unlikely, But It May Impact RE A major bank failure has scared investors. It’s unclear if things will get worse, but financial stress could lower mortgage rates and push the Fed to reconsider rate increases.

Is the Media Keeping Buyers in a State of Fear? One year ago, mortgage rates started their rise, and people scrambled to buy homes. That means stats comparing March 2023 to March 2022 won’t make a lot of sense.

Lawmakers Look at Change to ‘Save Our Homes’ Yearly tax value increases are capped at 3% on homesteaded properties, but voters may be able to lower it to 2% if the Fla. Legislature passes an amendment proposal.

Yes, You Should Buy a House This Year Buyers who wait for more inventory, lower interest rates or something else may never own a home. And given history, 2023 is a pretty good year to commit.

Mortgage Rates Fall for Fourth Straight Week At 6.09%, the 30-year, fixed-rate loan moved even closer to 5%. It’s down from last week’s 6.13% and almost a point lower than highs of 7.08% reached in Oct.

2022 Price Slowdown? Sellers’ Profits Still Rose Prices didn’t stop rising in 2022, increases just slowed. U.S. sellers averaged a $112K profit, up 21% – and eight of the top investment returns were in Fla. metros.

Good news for borrowers!

Higher Conforming Loan Limits Help 2M Homes In 2023, a handful of U.S. buyers won’t need a jumbo loan even if borrowing over $1M. While loan caps are lower elsewhere, the increase affects over 2M homes.