Author Archives: Savino James

Fla. Housing Market: Closed Sales, Pending Sales, Median Prices Up in Sept. 2018

Fla. Housing Market: Closed Sales, Pending Sales, Median Prices Up in Sept. 2018

ORLANDO, Fla., Oct. 19, 2018 – Florida’s housing market reported more closed sales, higher median prices and more pending sales in September compared to a year ago – when Hurricane Irma struck the Florida Keys on Sept. 10, 2017 – according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 21,087 last month, up 17 percent compared to September 2017.

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Florida Realtors® Signs MoU with FNAIM Aix Marseille Provence, FNAIM Grand Paris and World Property Business Club

Florida Realtors® Signs MoU with FNAIM Aix Marseille Provence, FNAIM Grand Paris and World Property Business Club

PARIS, Oct. 3, 2018 — Florida Realtors today signed several Memorandums of Understanding (MoU) for 2018 with three highly respected French real estate organizations: FNAIM Aix Marseille Provence, FNAIM Grand Paris and the World Property Business Club – it marks the first time the organizations have come together to sign this kind of an agreement.

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Outdoor Remodeling Projects Boost Resale Value, Owner Satisfaction

Outdoor Remodeling Projects Boost Resale Value, Owner Satisfaction

ORLANDO, Fla. – Want to update your home or business property and give it a new look? For value and satisfaction, think about doing an outdoor remodeling project, according to the National Association of Realtors®’ (NAR) and National Association of Landscape Professionals’(NALP) 2018 Remodeling Impact Report: Outdoor Features.

The report looks at 13 outdoor residential projects and 10 commercial property projects, highlighting the reasons why property owners complete these projects, the value – both financial and emotional – that these remodels bring, and the increased happiness the finished projects bring homeowners.

When asked which outdoor projects produce the most substantial financial payouts at resale, Realtors ranked standard lawn care service at the top, which recovers 267 percent of the project cost at resale. Next, Realtors named landscape maintenance and tree care, both recovering 100 percent of the cost at resale, and installing an irrigation system, recouping 86 percent.

When it comes to the enjoyment homeowners gain from these projects, a fire feature and irrigation system tied for first, both receiving a perfect Joy Score of 10. Joy Scores range between 1 and 10: Higher figures indicate greater joy from the project.

Eighty-three percent of homeowners who installed a fire feature said they have a greater desire to be home since completing the project, and 69 percent of homeowners who installed an irrigation system said they feel a major sense of accomplishment when they think of the project. The next most appealing projects were a new wood deck (Joy Score of 9.8), a water feature (9.8), statement landscaping (9.7) and an overall landscape upgrade (9.6).

This year, the report also covered outdoor projects for commercial properties. The report found that 43 percent of Realtors have suggested a commercial client improve the curb appeal of a property before listing it for sale. The most frequently recommended projects are standard lawn care (39 percent), completing a landscape management service (27 percent) and an overall landscape upgrade (26 percent).

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 180,000 members in 54 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

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Moving With Kids Under Age 18? Realtors® Can Help

Moving With Kids Under Age 18? Realtors® Can Help

ORLANDO, Fla. – Buying a home, packing and moving into it is already hard enough. When there are children involved, too, it adds a different set of requirements and stresses, according to the 2018 Moving with Kids report from the National Association of Realtors® (NAR).

For families, moving with children often means a lot of planning and research. Finding a home with the appropriate amount of space, in your preferred school district, and convenient to a job or school location are often priorities for buyers with families.

Using information from NAR’s 2018 Profile of Home Buyers and Sellers, the report explores the unique needs of homebuyers and sellers with children under age 18.

“For about 50 percent of all buyers, finding the right property in the right location was the most difficult step in the home search process,” noted Eric Sain, Florida Realtors® 2018 president-elect and 2019 president. “Families realize that having a Realtor with local market expertise and a broad range of resources to guide them through the process makes it a lot easier to find the right place to call home. In fact, the study found that 87 percent of all buyers purchased a home through the help of a real estate professional.”

Survey highlights

  • The average buyer with children under 18 purchases a 2,100-square-foot home with 4 bedrooms and 2 bathrooms, while the average buyer with no children chooses a 1,750-square-foot home with 3 bedrooms and 2 bathrooms. Both groups prefer a single-family, detached house.
  • Unsurprisingly, schools play a critical factor in the purchasing decisions of buyers with children: 50 percent with children say the quality of a neighborhood’s school district is important compared to 11 percent of buyers without children. Convenience and proximity to schools is also a crucial consideration with 45 percent saying it’s an important factor compared to just six percent of buyers without children.
  • 27 percent of buyers with children said childcare expenses delayed the process of buying a home. Those expenses also had an impact on the buying process, forcing buyers with children to make compromises on the house they purchased: 30 percent compromised on the size of their home, 29 percent on the price and 22 percent on the condition.
  • Buyers with and without children – 87 percent each – relied equally on the help of a real estate agent during the buying process.
  • When it comes to selling a home, 24 percent of those with children chose to sell because their house was too small. Only 8 percent of people without children at home sold their house for the same reason.
  • When sellers were asked what they want most from their agent, 22 percent of those with children said they wanted their agent to sell their home within a specific timeframe compared to 20 percent of sellers without children. However, sellers both with and without children expect their agents to provide a broad range of services and manage most aspects of their home sale, 80 and 79 percent respectively.
  • For sellers with children, urgent is the word that most often describes their selling situation: 26 percent of sellers with children qualified their need to sell as ‘very urgent’ compared to only 14 percent of sellers without children.

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 180,000 members in 54 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

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Gen Z: These Young Adults May Be Serious Homebuyers

Gen Z: These Young Adults May Be Serious Homebuyers

ORLANDO, Fla. Generation Z is optimistic when it comes to real estate investments and is showing a lot of interest in homeownership despite a young age, according to a new report by PropertyShark.com, a real estate website.

Generation Z includes those who were born after 1995, with the oldest members of the group being 23 years old. The survey polled more than 2,000 renters, owners and adults living with families.

Eighty-three percent of Gen Z respondents said they plan to buy a home within the next five years – and they’re not letting their youth stand in the way. About 100,000 Gen Zers are reportedly already homeowners, the survey found, and they’re less likely to default on their mortgage than baby boomers, millennials or Gen X mortgage holders.

While those in Gen Z are much more optimistic about homeownership than their older peers, the millennials, they do have one thing in common. Both generations agree that “college debt” is the biggest obstacle that could delay them from becoming homeowners.

As real estate buyers, they could be easy to work with: They dream of plenty of space and amenities, but they say they’re ready to compromise on almost anything to keep their costs to a minimum, the study finds. They show a fondness for suburbs (60 percent), followed by urban living (30 percent).

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 180,000 members in 54 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

 

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Smart Homes: What Gadgets Do Buyers Want?

Smart Homes: What Gadgets Do Buyers Want?

ORLANDO, Fla. – More newly-built homes are featuring smart-home technology because builders are realizing more buyers want it and are willing to pay the extra costs.

Recent research from John Burns Real Estate Consulting found that more than 60 percent of new-home buyers say they’d pay more for an exterior security camera and smart locks. Sixty percent of buyers also would spend more on a home with a smart thermostat, the survey revealed.

According to a separate John Burns Real Estate Consulting survey of more than 300 home builders, 53 percent say they now incorporate smart-home technology into new construction. Even so, 42 percent of buyers say they would purchase additional smart-home technology.

Buyer segments differed on which smart-home tech they liked the most, according to the survey:

  • Young singles and couples: most likely to choose smart thermostats
  • Families: most likely to choose a smart garage responsive to app controls and voice commands
  • Older buyers: most likely to pay extra for smart locks

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 180,000 members in 54 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

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Realtor® Kathryn Gillespie: Becoming Part of the Community

MANALAPAN, Fla. “If you don’t give these kids somewhere to go, the gangs will take them.” Spoken by Palm Beach County Sheriff Ric Bradshaw at a Boys & Girls Club of America event, that statement resonated with Kathryn Gillespie, a Realtor with Illustrated Properties in Manalapan, Fla.

“It really saddened me because the children he was talking about are pretty wonderful,” she says. “That was the real hook for me to get involved with the Boys & Girls Club.”

Since then, Gillespie and numerous other Illustrated Properties Realtors have gotten involved with club events. She’s immediate past-chair of the Boys & Girls Club of Boca Raton (which she chaired for four years); has headed up organizational fundraisers in both Broward and Palm Beach counties; and either chaired or helped support fundraising events like Casino Night and Concours d’Elegance, the latter of which raised more than $10 million for the Boys & Girls Club of Broward County.

In real estate for 29 years, Gillespie transitioned from commercial to residential about five years ago because she “loves bringing people to properties.”

Working with Illustrated Properties’ agents Pat Evans, Nicolette Goldfarb and Marley Goodman – all of whom chaired a recent fundraiser event, the Wellington Dinner Dance at the International Polo Club – Gillespie enjoys becoming a part of the fabric of her community. She says every personal connection she makes has a special meaning.

“As Realtors,” she says, “it’s just better when we all work together.”

Virginia M. Spencer, general manager of Illustrated Properties in Palm Beach County, says, “Our entire company does a lot for the organization, with specific agents taking on and participating in various causes that support the Boys & Girls Club.” Spencer served on one of the club’s grant committees that established its “Keyboards for Kids” group piano classes.

Through her charitable work, Gillespie says she’s learned just how giving the Boca Raton community is.

“This is where I live, where I go to church, and where my children attended school,” she says. “It’s a community that cares about everyone, and not just the top 1 percent.”

 

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Fla. Housing Market: Positive Trends Continue in August 2018

Fla. Housing Market: Positive Trends Continue in August 2018

ORLANDO, Fla., Sept. 20, 2018 – Florida’s housing market reported more sales, more new listings and higher median prices in August compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 26,273 last month, up 4.2 percent compared to August 2017.

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Realtor® Holly Meyer Lucas: Hitting a Home Run

Realtor® Holly Meyer Lucas: Hitting a Home Run

JUPITER, Fla. Being the wife of a professional baseball player wasn’t easy. “We moved so frequently, and it was hard on us,” says Holly Meyer Lucas, a sales associate and leader of the Meyer Lucas team at Compass Real Estate in Jupiter. In fact, when her husband Ed Lucas got called up to the big leagues, Meyer Lucas was pregnant with her first son.

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Fla. Housing Market: Sales, New Listings, Median Prices Up in July 2018

Fla. Housing Market: Sales, New Listings, Median Prices Up in July 2018

ORLANDO, Fla., Aug. 22, 2018 – Florida’s housing market reported more sales, rising median prices and more new listings in July compared to a year ago, though for-sale inventory remains constrained in many markets, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 25,488 last month, up 3.8 percent compared to July 2017.

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