Palm Beach Real Estate News


A lack of inventory has made it extremely challenging for would-be buyers to find the right property. But it looks like a wave of new construction may finally be on the way—and, judging by the permits, that wave is going to be a significant one.

According to a recent article in REALTOR Magazine, housing permits (which act as a predictor for future construction) increased 5 percent in October. That’s the fastest rate of permit authorization since 2007—just before the Great Recession.

According to Lawrence Yun, chief economist of the National Association of REALTORS®, this increase in housing permits is “tremendously good news for the housing sector.”

“At 1.46 million units on an annualized basis, housing permits are nearly to the level needed for the country over the long haul,” Yun said in the article. “Since new-home construction kicks off the chain reaction of people trading up and trading down by buying new and selling their existing homes, more housing inventory will surely show up in the market next year.”

The Takeaway:

So, what does this mean for you? If you’ve been trying to buy a home but have struggled with a lack of inventory, this increase in housing permits should be the jumping off point for new construction—and once that new construction hits the market, it should make it easier for buyers to find the right home.

Posted in:homebuyerPosted in:buying a homePosted in:home buyer and tagged: homebuyerbuying a homehome buyer
Posted by Heather Smith on January 10th, 2020 2:57 PM



For most first-time buyers, purchasing a home is the biggest purchase of their lives—but according to a recent survey, the majority of them don’t exactly feel prepared.

A recent article from REALTOR Magazine outlined a survey from first-time homebuyer survey from real estate resource Framework, which found that the majority of first-time homebuyers feel unprepared to buy. According to the survey, only 41 percent of first-time homebuyers felt prepared for the homebuying process, while 44 percent said they feared making a costly mistake. And more than half of all first-time buyers—both prospective (58 percent) and recent (53%)—said the homebuying process was more difficult than it needed to be.

What does this mean for you? If you’re buying a home for the first time, you want to feel as prepared as possible—and that means working with a qualified real estate agent. The right agent will help you feel prepared for every step of the homebuying journey—and make the entire process of buying a home feel less complicated and difficult.


Posted by Heather Smith on November 21st, 2019 3:07 PM

A lot of potential home buyers think that in order to successfully buy property they need to save up a sizeable down payment of 20% of the purchase price—and that until they have that down payment in the bank they can’t transition to homeownership.

But the “20% down payment myth” just isn’t true. Thanks to a variety of lending options, there are plenty of buyers out there purchasing property with far less than 20% down.

According to recent research from Zillow, 24.2% of buyers put down 5% or less when purchasing their homes. That’s nearly one in four buyers on the market!

The Takeaway

According to this data, it’s not only possible to purchase a home with a down payment of 5% or less, it’s also extremely common. So if you’ve been putting off buying a home until you have a 20% down payment in the bank, it might be time to rethink your strategy—and finally make your dream of homeownership a reality in 2019.

Posted in:homeownerPosted in:buying a homePosted in:home buyer and tagged: buying a homehomeownerhome buyer
Posted by Heather Smith on June 26th, 2019 1:02 PM

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