Palm Beach Real Estate News

Predicting the housing market should be an Olympic event; everyone loves to predict the ups and downs of the real estate market. As we enter 2020 consumers are wondering if it’s a good time to buy? What can home buyers expect this year and is it time to move?

Housing Market Trends 2020
Most analysts agree that 2020 should see a continuation of the momentum which built in 2019. The foundation for growth is strong with low unemployment numbers, higher household incomes and high consumer confidence. Additionally, we are starting to see more Millennials enter the housing market than ever before.

Housing Stocks
More and more investors are realizing the value of adding real estate to their portfolios. Shunting the hassle of owning rental properties, many of these investors, as well as new participants, are turning to REITs for investment diversification. REITs that are based on hard assets provide stability as well as liquidity, making them very popular. The types of properties held in these funds is changing also. In addition to commercial and large scale buildings, many funds are adding smaller homes to their portfolio – taking advantage of the growing down-sizing trend as Baby Boomers move to their next home.

Market Picture for Buyers

Overall, buyers should find a nice selection of homes from which to choose. Interest rates are expected to remain reasonable and home prices should flatten a bit with the increased inventory of homes. All-in-all, 2020 should be a continuation of the past year with no extreme moves expected in the market.

Posted by Heather Smith on February 28th, 2020 6:29 PM

Before you list your home, you want to feel confident in the market and the opportunity to sell your property at a competitive price. And in Q2 2019, it looks like that confidence is on the rise.

According to the most recent Homeownership Opportunities and Market Experience (HOME) Survey from the National Association of REALTORS®, nearly ¾ of people—73 percent—believe that now is a good time to sell a home. That’s up from 65 percent last quarter (Q1 2019), a jump of 12 percent. The percentage of people who are strongly optimistic that now is a good time to sell is also on the rise, increasing from 37 percent to 46 percent.

The Takeaway

The jump in optimism points to favorable market conditions for sellers. So if you’ve been thinking about selling your home, now is a great time to make a move.

Posted by Heather Smith on July 12th, 2019 9:01 PM

Things Out of Your Control When Selling

Do you feel like things are out of control? If you’ve listed your home for sale every day might feel this way. But that’s not what we’re talking about here. The truth is there are really things sellers can’t control. But don’t worry; even though you can’t control everything, there are ways to deal with these unknowns.

  • Buyers – Oh if only we could control buyers. They show up at odd times, they write crazy offers, they make odd repair requests and they can be difficult. One time a deal fell through because a Feng Shui Master didn’t like the color of the kitchen.
  • The Market – Market forces determine so many things; interest rates and sales prices. While you can’t change these forces, you can get all the information you can so you’re prepared for how this affects the sale.
  • Inspectors – You’ve loved and cared for your home, but even so there could be hidden issues that only a comprehensive, professional home inspection can uncover. One way to avoid unpleasant surprises is to put a listing home warranty in place to cover unexpected repairs.
  • Appraisers – Appraisers are just people. On occasion they make mistakes in value. Your lender and agent will help you navigate an unfavorable appraisal. There are ways to combat a poor appraisal. 

Selling your home can bring unexpected issues. If you’ve done your due diligence and hired a good agent, you’ll be able to handle the unexpected issues which are out of your control.

Posted by Heather Smith on June 12th, 2019 1:55 PM

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