Newsletters Archives - Page 11 of 29 - Doiron Realty Services

2 Bedroom 2 Bath 1,005 Sq Ft

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Merry Christmas 2022-12-23

Gulf Coast
Real Estate Update

December 23rd, 2022

Source: Fox Business

Available

Sandy Shores

Gulf Front Condo

Madeira Beach

Three Day Minimum Rental

$700,000

Available
Surfside South
Gulf Front Condo
Madeira Beach

2 Bedroom 2 Bath 1,100 Sq Ft
Thirty Day Minimum Rental
$800,000

The 30-Year
Fixed-Rate
Mortgage Continues
to Trend Down

Heading into the holidays, mortgage rates continued to move down. Rates have declined significantly over the past six weeks, which is helpful for potential homebuyers, but new data indicates homeowners are hesitant to list their homes. Many of those homeowners are carefully weighing their options as more than two-thirds of current homeowners have a fixed mortgage rate of below four percent.

What’s For Sale

2 Bedroom 2 Bath 1,005 Sq Ft

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Florida Still Top Spot 2022-12-15

Gulf Coast
Real Estate Update

December 15th, 2022

Florida still top spot
for Americans
looking to move

Nearly 25% of US Homebuyers are looking to move out of their current metro areas, with many people turning their attention to cities in Florida as their next place to call home.
Half of the top 10 migration destinations on the list are Florida Cities, including Miami, Tampa, Cape Coral, and Northport-Sarasota.
The study noted that people moving to places such as Florida do so because home prices are often far less expensive than in cities such as Los Angeles and New York.
States with the highest rates of people looking to stay where they are living include Texas, Michigan, Ohio, Oklahoma and Florida.
Florida’s population in 2022 will stand at more than 22 million residents, trailing only California and Texas in size.

Source: Fox Business

Available

Sandy Shores

Gulf Front Condo

Madeira Beach

Three Day Minimum Rental

$700,000

Available
Surfside South
Gulf Front Condo
Madeira Beach

2 Bedroom 2 Bath 1,100 Sq Ft
Thirty Day Minimum Rental
$800,000

Mortgage Rates
Continue
Downward Trajectory

Mortgage rates continued their downward trajectory this week, as softer inflation data and a modest shift in the Federal Reserve’s monetary policy reverberated through the economy. The good news for the housing market is that recent declines in rates have led to a stabilization in purchase demand. The bad news is that demand remains very weak in the face of affordability hurdles that are still quite high.

What’s For Sale

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Tampa Bay Weathering the Storm 2022-12-09

Gulf Coast
Real Estate Update

December 8th 2022

Luxury Real Estate
May Be This Economy’s
Best Investment

The luxury real estate market in Tampa Bay is weathering the storm.

While many macroeconomic factors are concerning, real estate performs differently according to location and asset class.

For example, Real Estate prices across the nation rose 13% last year on average, in Tampa and Miami, that increase was 28%.

Demand in the luxury real estate market remains strong as affluent buyers see real estate as a solid investment during inflationary times. Rising interest rates have reduced the number of houses on the market as sellers opt to stick with their existing lower-interest-rate loans.

Source: Florida Realtors

Coming Soon

Sandy Shores

Gulf Front Condo

Madeira Beach

2 Bedroom 2 Bath 1,005 Sq Ft

Three Day Minimum Rental

$700,000

Coming Soon
Surfside South
Gulf Front Condo
Madeira Beach

2 Bedroom 2 Bath 1,100 Sq Ft
Thirty Day Minimum Rental
$800,000

Mortgage Rates
Continue to Drop

Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes. Even as rates decrease and house prices soften, economic uncertainty continues to limit homebuyer demand as we enter the last month of the year.

What’s For Sale

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Loan Limits Increase 2022-12-02

Gulf Coast
Real Estate Update

December 3rd 2022

Loan Limits
Increase

In most of the U.S including Pinellas County the 2023 conforming loan limit value for one-unit properties will be $726,200, a 12% increase from $647,200 in 2022. This is in the wake of an increase just a year ago from $548,250 to $647,200. Conforming loans are loans that meet guidelines set by Fannie Mae and Freddie Mac representing about 70% of all mortgages from lenders.

Mortgage rates
decrease for
third week in a row

What’s For Sale

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Happy Thanksgiving 2022-11-23

Gulf Coast
Real Estate Update

November 23rd 2022

Happy Thanksgiving

Thank you for your support and confidence.

All the best to you and yours.

Investor Purchases Drop

Investor purchases of single-family homes fell 32.3% year over year in the third quarter, declining more than any other property type. Investor purchases of condos/co-ops decreased 27.5%, while purchases of townhouses and multi-family properties both slumped about 18%.

Demand for single-family homes soared during the pandemic as scores of people left condos and apartments in cities for more room in the suburbs, but that demand has eased as the pandemic has subsided and many people have returned to the office and city life.

Still, single-family homes remained the most popular property type among investors in the third quarter, representing nearly three-quarters (72.8%) of investor purchases. Condos/co-ops came in second, at 16.4%, followed by townhouses (6.2%) and multi-family properties (4.6%).

Source: Conty Records and Redfin

Mortgage Rates
Tick Down

Mortgage rates continued to tick down heading into the Thanksgiving holiday. In recent weeks, rates have hit above seven percent only to drop by almost half a percentage point. This volatility is making it difficult for potential homebuyers to know when to get into the market, and that is reflected in the latest data which shows existing home sales slowing across all price points.

What’s For Sale

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Migration Inflation Tampa Bay 2022-11-15

Gulf Coast
Real Estate Update

November 15th 2022

Tampa Bay
Among the Highest
Inflation Rates
in the U.S.

The four U.S. metropolitan areas with the highest inflation rates in the third quarter are migration hotspots. Phoenix, Atlanta, Tampa and Miami experienced double-digit inflation and all ranked near the top of Redfin’s list of most popular destinations for relocating homebuyers.

Inflation and migration have become increasingly linked. Remote work allowed scores of Americans to move to the Sun Belt during the pandemic in search of affordability and warm weather, which drove up housing prices, a key contributor to inflation. That’s why migration hotspots now have the highest inflation rates—a trend that was much less acute before the pandemic.

Tampa Bay market clocked in at number three for inflation at 10.9% and number five for migration.

Source: Bureau of Labor Statistics/Redfin

Market Snaphot

Mortgage Rates
Rise Above
Seven Percent

As the housing market adjusts to rapidly tightening monetary policy, mortgage rates again surpassed seven percent. The housing market is the most interest-rate sensitive segment of the economy, and the impact rates have on homebuyers continues to evolve. Home sales have declined significantly and, as we approach year-end, they are not expected to improve.

What’s For Sale

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Florida top 25 2023-08-10

Gulf Coast
Real Estate Update

August 10th, 2023

25 out of 100

High-Growth U.S. Metros

are in Florida

Boomtowns, in short, are U.S. cities and metro areas attracting the most people – new business as well as movers looking for better jobs – that other areas of the country. Boomtowns often have rapidly expanding infrastructure – housing and services – to accommodate a growing population.
To pinpoint the current boomtowns, Checkr – an employee background-check firm – analyzed a roster of data, including some from the U.S. Census Bureau and Bureau of Economic Analysis.

Factors considered:

Population growth
GDP growth
Unemployment rate
Workforce growth
Poverty rate
Housing unit growth
Real personal income growth
Change in median age
Change in the total number of businesses
Resident s making more than $100,000

The Tampa Bay metro ranked number 28 out of 100

Source: Florida Realtors

Mortgage Rates
Rise for the
Third Consecutive Week

For the third straight week, mortgage rates continued creeping up and are now just shy of seven percent. There is no doubt continued high rates will prolong affordability challenges longer than expected, particularly with home prices on the rise again. However, upward pressure on rates is the product of a resilient economy with low unemployment and strong wage growth, which historically has kept purchase demand solid.

Doiron Realty Services
Is Selling
Gulf Front Condos

Year to Date Sales

For Sale

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Home equity at a 4 year high 2023-08-03

Gulf Coast
Real Estate Update

August 3rd, 2023

Home Equity

at a 4-year high

The latest home equity report from ATTOM found that 49% of mortgaged residential properties in the U.S. were considered equity-rich, meaning that borrowers owed 50% or less of the value of their home.

That’s the highest level in at least four years, topping even the early-pandemic days when home prices were surging. The percentage of equity-rich properties had fallen for two straight quarters, dropping to 47% last month, before this most recent turnaround.

“The second-quarter market revival bestowed immediate benefits on homeowners around the nation in the form of better profits for sellers and rising equity for those staying put. Equity levels were high even during the recent downturn, and now they are going back up and better than ever,” said Rob Barber, CEO for ATTOM.

An equity cushion has helped limit foreclosures, and only 2.8% of mortgaged homes were seriously underwater in Q2.

Coming Soon

Gulf Front Condo

Unobstructed View

3 Bedroom – 2 Bath

1,345 Square Feet

Oversized Balcony

Under Building Parking

No Minimum Rental Restrictions

Liberal Pet Policy

Ram Sea One

North Redington Beach

$1,150,000

Mortgage Rates
Increase

The combination of upbeat economic data and the U.S. government credit rating downgrade caused mortgage rates to rise this week. Despite higher rates and lower purchase demand, home prices have increased due to very low unsold inventory.

For Sale

Income Properties

Doiron Realty Services
Pete Doiron
Broker

13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

Market Defies Odds 2023-07-27

Gulf Coast
Real Estate Update

July 27th, 2023

Florida Housing Market

Defies Odds After

Devastating Hurricane

Last fall, Hurricane Ian smashed into Florida’s western coast, leaving a wide path of destruction. Many experts questioned how long it would take the local housing market to bounce back.

In the first two months after the storm struck in September, listings were down by 900 units compared to where they would have been had the storm never made its unwelcome arrival, according to Redfin.

Flash forward six months, and things were very different. Listings surged to 1,314 units above projections during that period. In addition, sales — which lagged in the first three months after the storm — picked up significantly, though they have yet to fully recover.

In summary, Redfin senior economist Sheharyar Bokhari says that when it comes to Florida real estate, “many homebuyers continue to prioritize waterfront views, relatively affordable home prices and lower taxes above climate concerns.”

Source: Redfin

Mortgage Rates
Inch Up

Mortgage rates inched up slightly after a significant decline last week. Higher interest rates continue to dampen activity in interest rate-sensitive sectors, such as housing. However, overall U.S. consumer confidence is unwavering, surging to a two-year high in the Conference Board’s Consumer Confidence Index for July 2023. Rising consumer confidence often leads to greater spending, which could drive more consumers into the housing market.

For Sale