Monday, August 3, 2020 / by Jordana Tobel
A bad time to sell? Well, no. A bad decision to buy? Absolutely not. What's REALLY happening in the South Florida real estate market?
To those outside the industry, it may feel different but there are facts and circumstances in today's world that simply make this market unlike any other. Those of us who were around for the 2008 Recession may have some moments that feel like deja vu, but the truth is that this is nothing like the last recession.
Let's dispel the top three myths:
MYTH #1. It's a bad time to sell a home.
Yes, we are in a pandemic and unemployment is an issue, however despite that fact, there are many buyers frantically looking for a place to call home. At the same time, many homeowners are choosing not to sell and thus new home listings plunged 14% in early July compared to last year at the same time. Total inventory is also down 32% year over year. That means the current buyer demand is higher than the seller supply.
If you are considering selling, now is ...
Wednesday, March 18, 2020 / by Jordana Tobel
Let’s start by looking at the bigger picture and the national market:
The national housing market’s high demand and low inventory in recent months has caused prices to rise.. The 30-year fixed mortgage rate averaged 3.45% for the week ending Feb. 27, compared to a year ago at the same time when it averaged 4.35%, according to Freddie Mac. That rate is the lowest in three years. These low rates have fueled recent sales activity: there was a 9.6% increase year-over-year from January 2019 to January 2020. Additionally, new home sales reached their highest level since 2007.
Now comes Corona:
There is no doubt the coronavirus outbreak, now labeled a pandemic by the World Health Organization (with more than 118,000 cases, 4,000 deaths and a foothold in every continent), will have an impact on the housing market. Anyone who says otherwise is in denial. The stock markets plummeted because of concern over corporate health and plunging revenues. The supply chain of approxim ...
Thursday, February 13, 2020 / by Jordana Tobel
Guess how much Florida vacation home rentals contribute to the state economy?
Almost 28 billion. Yes, that’s billion with a “b.” That’s almost 20% of the state tourism industry, according to a new report by the University of Central Florida’s Rosen College of Hospitality Management.
In 2018, more than one in 10 tourists stayed in a vacation-rental home.
“Floridians have long-known that the state’s vacation rental industry has a significant impact on our economy, but the numbers in this report are simply staggering,” says Florida Realtors president Barry Grooms, a Realtor and co-owner of Sarabay Suncoast Realty Inc. in Bradenton. “More than $27 billion a year is a substantial contribution to our economy, and the 115,000 jobs it supports are critical to the well-being of many of our communities.”
Florida’s tourism industry is growing faster than the U.S. economy. The state has experienced 8 consecutive ...
Tuesday, January 14, 2020 / by Jordana Tobel
You’ll find many agents who will list your home. Most of those agents will put your home in the MLS and hope it sells. That tactic may have worked years ago, but in today’s world of social media and google, you need a lot more power to sell your home for top dollar.
Here are 3 things that you’ll want to make sure you discuss with your agent (click below to watch the video):
1. What does your social media marketing plan look like?
Here at Premier Listings, we have a strong presence on Social Media – including Instagram, Facebook, LinkedIn, You Tube and more. Every listing receives dedicated posts to get your home in front of more buyers. Even better, every listing has a social media budget and we will pay to have your home show up in front of the right buyers. The most amazing thing about today’s social media is that we have a ton of information that we can use to target ads correctly. The truth is that in today’s world, we are lucky en ...
Thursday, January 9, 2020 / by Jordana Tobel
Curious about what to do to get ready for your home purchase?
If it's finally time to put your rental days behind you, or perhaps you are selling your current home and looking for a new one, it's never too early to start planning.
Here are 5 tips to get ready for your purchase (if you prefer, watch the video version of this post here.):
1. Stay on top of your credit.
This is the number banks will look at to determine whether you are credit worthy and it dictates the rate you will be charged by the bank. The higher your credit score, the lower your interest rate—and that’s what you’re going for. Get a free copy of yours at AnnualCreditReport.com to see where you stand. AnnualCreditReport.com is the only source for free credit reports, every 12 months, authorized by federal law. Once you have your report, check for mistakes! It is very common to have mistakes and you can contact the credit bureaus directly to correct an error.
2. Figure out how much ...