Southwest Florida Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Nov. 7, 2019

Forget the Price of the Home The Cost is What Matters

Forget the Price of the Home. The Cost is What Matters.

Forget the Price of the Home. Cost is What Matters.

 

Home buying activity (demand) is up, and the number of available listings (supply) is down. When demand outpaces supply, prices appreciate. That’s why firms are beginning to increase their projections for home price appreciation going forward. As an example, CoreLogic increased its 12-month projection for home values from 4.5% to 5.6% over the last few months.

The reacceleration of home values will cause some to again voice concerns about affordability. Just last week, however, First American came out with a data analysis that explains how the price is not the only market factor that impacts affordability. They studied prices, mortgage rates, and wages from January through August of this year. Here are their findings:

Home Prices

“In January 2019, a family with the median household income in the U.S. could afford to buy a $373,900 house. By August, that home had appreciated to $395,000, an increase of $21,100.”

Mortgage Interest Rates

“The 0.85 percentage point drop in mortgage rates from January 2019 through August 2019 increased affordability by 9.7%. That translates to a $40,200 improvement in house-buying power in just eight months.”

Wage Growth

“As rates have fallen in 2019, the economy has continued to perform well also, resulting in a tight labor market and wage growth. Wage growth pushes household incomes upward, which were 1.5% higher in August compared with January. The growth in household income increased consumer house-buying power by 1.5%, pushing house-buying power up an additional $5,600.”

When all three market factors are combined, purchasing power increased by $24,500, thus making home-buying more affordable, not less affordable. Here is a table that simply shows the data:

Impackt of market factors on purchasing power

Recap

In the article, Mark Fleming, Chief Economist at First American, explained it best:

“Focusing on nominal house price changes alone as an indication of changing affordability, or even the relationship between nominal house price growth and income growth overlook what matters more to potential buyers – surging house-buying power-driven by the dynamic duo of mortgage rates and income growth. And, we all know from experience, you buy what you can afford to pay per month.”

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

Oct. 31, 2019

Taking the Fear Out of the Mortgage Process

Taking the Fear Out of the Mortgage Process

Taking the Fear Out of the Mortgage Process

A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage.

For many, the mortgage process can be scary, but it doesn’t have to be! 

In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and a good credit history.

Once you’re ready to apply, here are 5 easy steps Freddie Mac suggests to follow:

  1. Find out your current credit history and credit score– Even if you don’t have perfect credit, you may already qualify for a loan. The average FICO Score® for all closed loans in September was 737, according to Ellie Mae.
  2. Start gathering all of your documentation– This includes income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional– Your real estate agent will be able to recommend a loan officer who can help you develop a spending plan, as well as help you determine how much home you can afford.
  4. Consult with your lender– He or she will review your income, expenses, and financial goals in order to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval– A pre-approval the letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change) and demonstrates to home sellers that you’re serious about buying.

Recap

Do your research, reach out to professionals, stick to your budget, and be sure you’re ready to take on the financial responsibilities of becoming a homeowner.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Oct. 30, 2019

How to Determine If You Can Afford to Buy a Home

How to Determine If You Can Afford to Buy a Home

How to Determine If You Can Afford to Buy a Home

The gap between the increase in personal income and residential real estate prices have been used to defend the concept that we are experiencing an affordability crisis in housing today.

It is true that home prices and wages are two key elements in any affordability equation. There is, however, an extremely important third component of that equation: mortgage interest rates.

Mortgage interest rates have fallen by more than a full percentage point from this time last year. Today’s rate is 3.75%; it was 4.86% at this time last year. This has dramatically increased a purchaser’s ability to afford a home.

Here are three reports validating that purchasing a home is in fact more affordable today than it was a year ago:

CoreLogic’s Typical Mortgage Payment

“Falling mortgage rates and slower home-price growth mean that many buyers this year are committing to lower mortgage payments than they would have faced for the same home last year. After rising at a double-digit annual pace in 2018, the principal-and-interest payment on the nation’s median-priced home – what we call the “typical mortgage payment”– fell year-over-year again.”  

The National Association of Realtors’ Affordability Index

“At the national level, housing affordability is up from last month and up from a year ago…All four regions saw an increase in affordability from a year ago…Payment as a percentage of income was down from a year ago.”

First American’s Real House Price Index (RHPI)

“In 2019, the dynamic duo of lower mortgage rates and rising incomes overcame the negative impact of rising house price appreciation on affordability. Indeed, affordability reached its highest point since January 2018. Focusing on nominal house price changes alone as an indication of changing affordability, or even the relationship between nominal house price growth and income growth, overlooks what matters more to potential buyers – surging house-buying power driven by the dynamic duo of mortgage rates and income growth. And, we all know from experience, you buy what you can afford to pay per month.”

Recap

Though the price of homes may still be rising, the cost of purchasing a home is actually falling. If you’re thinking of buying your first home or moving up to your dream home, make sure to reach out to a real estate professional to help you understand the difference between the two.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Oct. 29, 2019

4 Reasons to Buy a Home This Fall

4 Reasons to Buy a Home This Fall

4 Reasons to Buy a Home This Fall

Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue Rising

CoreLogic’s latest Home Price Insights Report shows that home prices have appreciated by 3.6% over the last 12 months. The same report predicts prices will continue to increase at a rate of 5.8% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase Next Year

The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have recently hovered just above 3.5%. This is great news for buyers in the market right now, because low-interest rates increase your purchasing power – but don’t wait! Most experts predict rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is needed to buy your next home.

3. Either Way, You Are Paying a Mortgage 

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you are paying a mortgage – either yours or that of your landlord.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing costs to work for you?

4. It’s Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you’re buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over custom renovations, maybe now is the time to buy.

Recap

Buying a home sooner rather than later could lead to substantial savings. Reach out to a local real estate professional to determine if homeownership is the right choice for you and your family this

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Oct. 28, 2019

Think Prices Have Skyrocketed Look at Rents

Think Prices Have Skyrocketed? Look at Rents

Think Prices Have Skyrocketed? Look at Rents!

Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject.

In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.

 “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”

Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country and that the trend is accelerating:

“The median U.S. rent grew 2% year-over-year, to $1,595 per month. National rent growth is faster than a year ago, and while 46 of the 50 largest markets are showing deceleration in annual home value growth, annual rent growth is accelerating in 41 of the largest 50 markets.”

The Zillow report went on to detail rent increases since the beginning of the housing market recovery in 2012. Here is a graph showing the increases:

Median Rent Values

Recap

It is true that home prices have risen over the past seven years, increasing the cost of owning a home. However, the cost of renting a home has also increased over that same time period.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Oct. 23, 2019

Cape Coral-Fort Myers Housing Market Update September 2019

Cape Coral-Fort Myers Housing Market Update September 2019

Single Family Closed Sales Up Double Digits in September!

Lee County’s housing market saw a significant increase in Single-Family closed sales compared to September 2018, according to the latest statistics just released by Florida Realtors®. Year-over-year, sales were up by -14.8% for Single Family and a 0.0% change for Condos & Townhouse.

September showed Median Sale prices were up slightly at 3.0% for Single Family, and down -1.6% for Townhouse and Condos. Single Family Inventory is down with year-over-year for Single Family at -8.6% in Active Listings, showing a 4.5 Months Supply of Inventory. Active listings were down by -5.3% year-over-year for Townhouses and Condos with a Months Supply of Inventory of 5.0. The time properties spent on the market in September was 80 Days for Single Family Homes and 88 Days for Townhouses and Condos.

Lee County Housing Market Overview

Broken down by cities, Single Family in North Fort Myers saw a jump up in sales of 51.6% over last year, with 47 closed sales compared to 31 in September 2018. Sanibel/Captiva also saw an increase of 30% of Single Family Homes sold with 13 closed sales. The remaining Cities all saw an increase compared to September 2018, with the exception of Fort Myers Beach who showed a -58.3% decrease with 5 closed sales.

When looking at Closed Sales by Price Point, the numbers were up for the price points $200,000 and higher for Single Family. Condos and Townhouse market saw an up and down in most of the price ranges with the $1,000,000 and above topping it at 33.0%. The under $250,000 - $300,000 price range had an increase of 24.4%.

Lee County Housing Market by cities and prices

 

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

Oct. 22, 2019

Depending on the Price You’re Going to Need Advice

Depending on the Price, You’re Going to Need Advice

Depending on the Price, You’re Going to Need Advice

To understand today’s complex real estate market, it is critical to have a local, trusted advisor on your side – for more reasons than you may think.

In real estate today, there are essentially three different price points in the market: the starter-home market, the middle-home market, and the premium or luxury market. Each one is unique, and depending on the city, the price point in these categories will vary. For example, a starter or lower-end home in San Francisco, California is much more expensive than almost any other part of the country. Let’s explore what you need to know about each of these tiers.

Starter-Home Market: This market varies by price, and these homes are typically purchased by first-time homebuyers or investors looking to flip them for a profit. Across the country, homes in this space currently have less than 6 months of inventory for sale. That means there aren’t enough homes on the lower end of the market for the number of people who want to buy them. A low supply like this generally increases competition, drives bidding wars, and sets up an environment where homes sell above the listing price. According to data from the National Association of Realtors (NAR) on realtor.com,

“The desire for affordability continues to push down the inventory for homes listed for less than $200,000.00.”

Middle-Home Market: This segment is often thought of as the move-up market. Typically, the buyer in this market is moving up to a larger, more custom home with more features, all coming at a higher price. Across the country, this market is looking more balanced than the lower end of the market, meaning it has closer to a 6-month supply of inventory for sale. This market is more neutral, but leaning towards a seller’s market.

Premium & Luxury Home Market: This is the top end of the market with larger homes that have even more custom features and upgrades. Nationwide, this market is growing in the number of homes for sale. In the same realtor.com article, we can see that the year-over-year inventory of homes in this tier has grown by 4.7%. Today, there are more homes available in the premium and luxury space, leading to more of a buyer’s market at this end.

Recap

Depending on the segment of the market and the price point you’re looking at, you’re going to need the advice of a true local market expert to help you successfully navigate the home-buying or selling process.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Oct. 21, 2019

5 Tips for Starting Your Home Search

5 Tips for Starting Your Home Search

5 Tips for Starting Your Home Search

In today’s market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five tips from realtor.com’s article, “How to Find Your Dream Home—Without Losing Your Mind.”

1. Get Pre-Approved for a Mortgage Before You Start Your Search

One way to show you’re serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage. Even if you’re in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach. This will help you avoid the disappointment of falling in love with a home well outside your price range.

2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’

Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Before you start your search, list all the features of a home you would like. Qualify them as ‘must-haves’‘should-haves’, or ‘absolute-wish list’ items. This will help you stay focused on what’s most important.

3. Research and Choose a Neighborhood Where You Want to Live

Every neighborhood has unique charm. Before you commit to a home based solely on the house itself, take a test-drive of the area. Make sure it meets your needs for “amenities, commute, school district, etc. and then spend a weekend exploring before you commit.”

4. Pick a House Style You Love and Stick to It

Evaluate your family’s needs and settle on a style of home that will best serve those needs. Just because you’ve narrowed your search to a zip code doesn’t mean you need to tour every listing in that vicinity. An example from the article says, “if you have several younger kids and don’t want your bedroom on a different level, steer clear of Cape Cod–style homes, which typically feature two or more bedrooms on the upper level and the master on the main.”

5. Document Your Home Visits

Once you start touring homes, the features of each individual home will start to blur together. The article suggests keeping your camera handy and making notes on the listing sheet to document what you love and don’t love about each property you visit.

Recap

In a high-paced, competitive environment, any advantage you can give yourself will help you on your path to buying your dream home.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Oct. 16, 2019

Existing Home Sales Report Indicates Now Is a Great Time to Sell

Existing-Home Sales Report Indicates Now Is a Great Time to Sell

Existing Home Sales Report Indicates Now Is a Great Time to Sell

The best time to sell anything is when demand for that item is high and the supply of that item is limited. The latest Existing-Home Sales Report released by the National Association of Realtors (NAR), reveals that demand for housing continues to be strong, but the supply is struggling to keep pace. With this trend likely continuing throughout 2020, now is a great time to sell your house.

THE EXISTING HOME SALES REPORT

The most important data revealed in this report was not actual sales. In reality, it was the inventory of homes for sale (supply). The report explained:

  • Total housing inventory at the end of August decreased by 2.6% to 1.86 million homes available for sale.
  • Unsold inventory is lower than the 4.3-month figure recorded in August 2018.
  • This represents a 1-month supply at the current sales pace.

According to Lawrence Yun, Chief Economist at NAR,

“Sales are up, but inventory numbers remain low and are thereby pushing up
home prices.”

In real estate, there is a simple guideline that often applies here. Essentially, when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see greater appreciation. Between a 6 to 7-month supply is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and can expect depreciation in home values (see below):

Monthly Housing Supply

As we mentioned before, there is currently a 4.1-month supply of homes on the market, and houses are going under contract fast. The Existing Home Sales Report also shows that 49% of properties were on the market for less than a month when they were sold. In August, properties sold nationally were typically on the market for 31 days. As Yun notes, this should continue,

“As expected, buyers are finding it hard to resist the current rates…The desire to take advantage of these promising conditions is leading more buyers to the market.” 

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market, and supply will fail to catch up with demand if a sizable supply does not enter the market.

Recap

If you are going to sell, now may be the time to take advantage of the ready, willing and able buyers who are out there searching for your house to become their dream home.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Oct. 10, 2019

You Need More Than a Guide You Need a Sherpa

You Need More Than a Guide. You Need a Sherpa

You Need More Than a Guide. You Need a Sherpa!

In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate the process. You need someone you can turn to who will tell you how to price your home correctly right from the start. You need someone who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer.

We are, however, in anything but a “normal market” right now. The media is full of stories about an impending recession, a trade war with China, and constant political upheaval. Each of these potential situations could dramatically impact the real estate market. To successfully navigate the landscape today, you need more than an experienced guide. You need a ‘Real Estate Sherpa.’

A Sherpa is a “member of a Himalayan people living on the borders of Nepal and Tibet, renowned for their skill in mountaineering.” Sherpas are skilled in leading their parties through the extreme altitudes of the peaks and passes in the region – some of the most treacherous trails in the world. They take pride in their hardiness, expertise, and experience at very high altitudes.

They are much more than just guides.

This is much more than a normal real estate market.

The average guide just won’t do. You need a ‘Sherpa.’ You need an expert who understands what is happening in the market and why it is happening. You need someone who can simply and effectively explain it to you and your family. You need an expert who will guarantee you make the right decision, even in these challenging times.

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.” 

Recap

Hiring an agent who has a finger on the pulse of the market will make your buying or selling experience an educated one.

Considering Buying or Selling a Home?

If you are looking to buy or sell a home in Cape Coral, Fort Myers or Estero, I encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can set the Price Right. Contact us today to learn more about the current market and if selling how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price. Learn more about selling your home

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor® in Southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking at buying or selling a home or condo, vacation home/condo, waterfront home/condo or to build your own dream home, call or text me at 239-770-6880 or email me at Jon@southwestfldreamhomes.com

About Jonathan Blaze, PA


The above information about how selling your home was provided by Southwest FL Dream Homes Team of MVP Realty, Jon Blaze, an expert in Southwest Florida real estate.  When you are ready to buy or sell a single-family home or condo in Cape Coral, Fort Myer, Bonita Springs or Estero, contact me. With almost 20 years of experience, I can help provide the market information and insights into individual communities to help you find the perfect home.  Most importantly, I will handle all the negotiations to make your real estate transaction as smooth as possible.
Contact Jon: (239) 770-6880 or Jon@southwestfldreamhomes.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team or Keeping Matters Current do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Jonathan Blaze, MVP Realty or Southwest FL Dream Homes Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.