Blog
Florida Association of REALTORS Sue the CDC
It’s the largest group of Realtors in Florida and the third such group to sue the CDC in the last few months. The suit challenges the CDC’s eviction ban and the “draconian penalties” it imposes, as well as the application of CDC’s authority in general. The lawsuit also alleges the CDC’s ban took action to […]
Tampa Bay 4th in the Nation for New Residents
The Tampa Bay Metro had the Fourth Biggest Net Inflow of New Residents in the United States. Net inflow of New Residents in 2020 was 47,000, coming in 4th place after Phoenix, Dallas and Orlando Metro’s. The number of homes for sale dropped 31% year over year. New Home Building Permits dropped 25.3%. Prices up […]
Interest Rates Down Cash Sales Up… Wait What?
All-cash sales of existing homes in the U.S. comprised 25% of transactions in April as competition in the housing market continued. This marks an increase from 15% of similar sales a year ago and 20% in 2019, the survey shows. The share of all-cash sales among vacation homes saw the biggest increase, jumping to 61% […]
Typical Homeowner in Forbearance has plenty of Home Equity
The COVID-19 pandemic’s devastating impact on the job market has left many households unable to pay their mortgages or rents. Fortunately, the speedy intervention provided by the CARES Act ensured mortgage forbearance options for homeowners who were financially harmed by the pandemic. A typical homeowner in forbearance appears to have sizeable equity in their home, […]
Are we in a housing bubble or a vacuum?
Remember when housing prices Nationwide started falling in 2007 and bottomed out in 2011? The period in history was known as The Great Recession. The term “housing bubble” summed up that miserable period. The bubble was created by speculation and fueled by easy mortgage money. Let’s compare some key factors of the Great Recession to […]
Vacation Home Buyers Storm the Beaches
An article in yesterdays Wall Street Journal entitled “Vacation Home Buyers Propped Up the Mortgage Market” stated “The pandemic set in motion a furious scramble to buy vacation homes”. The article went on to say that the number of buyers who locked in mortgage rates on second homes in February was up 93% from a […]
Pandemic Ushers in a New Breed of Movers: Snowmads, Zoombirds
As remote work grows during the pandemic, so has the flexibility to move more freely. For some remote workers, that has meant taking their laptops and heading to home rentals along the beach. Some are testing out new spots of the country by booking Airbnbs or short-term rentals in warmer destinations during the winter. The […]
Va K shaped recovery
Demand for Vacation Homes in U.S. Spikes 84 % in Early 2021 The annual rise in second-home mortgage applications is more than double the increase in applications for primary homes. Symbolizing Uneven Financial Recovery in the U.S. The continued popularity of vacation homes is indicative of the rise in remote work due to the coronavirus pandemic. With white-collar […]
Bidding Wars in 2021
A recent Article in The Wall Street Journal reported home buyers across the U.S. are finding themselves in bidding wars due to a reduced supply of homes on the market. I can relate… Last week I listed a very presentable atrium style home in Belleair. The property went on the market Thursday evening. Seven showings […]
2020 Was Quite a Ride
Coastal Real Estate Market Summary Pinellas Beaches All Residential Properties Condos – Homes – Townhomes – 1 to 4 Units Waterfront and Non Waterfront St. Pete Beach – Treasure Island – Madeira Beach – Redington Beaches – Indian Shores – Indian Rocks Beach In all my years in the Real Estate business I’ve seen many […]