Real Estate News

Found 21 blog entries about Real Estate News.

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Should I sell my house during this pandemic and recession?

should i sell my home now during covid-19

Absolutely Yes. If you need to sell your house then you should sell it and you can sell it. The process might be a little different but the end result will be the same.

Why? Because it will take 1-2 years to get past this to a more normalized market. So there is no use in waiting if you have to sell. Click here to learn about the covid-19 corona virus effects on the real estate market and what is predicted to happen to the real estate market.

What are your neighbors doing? They are preparing to sell

Will the Housing Market Turn Around This Year? | Keeping Current Matters

Pros to Selling Your Home During The Covid-19 Pandemic

  • The good news is homes are still selling and there is less competition on the market right now.
  • Additional good news
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Have you been wondering if you can still buy a home in this Corona Virus | Covid-19 environment?

Well the answer is yes. But you are right to wonder. Things are not the same. And they do keep changing.

Ok. I call my Realtor to see a home. What's Different?

calling your realtor

 Let's face facts. Physically looking at a home can put your health, the Realtor's health and Seller's health at risk. Anyone can be contagious but not showing symptoms.

The Realtor will request verbal or written Confirmation you are not sick and have not traveled recently.

So many seller's are requiring information confirming you are a serious buyer and are not contagious. This can include signing an affidavit stating you are not currently sick and haven't recently traveled. This

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What is happening in the real estate market right now?

  • The market is still moving with Buyers buying and Homes selling
  • There are less Buyers and Sellers in the market resulting in a net lower sales volume
  • Before the change in the market there were less Sellers than Buyers. This is still the case for now. This has led to prices not being dropped on listings yet, even though there is less Buyer activity.
  • Chief Economist of NAR still forecast a rise in price
  • Don't expect a foreclosure wave due to unemployment with the government's $2 trillion relief package allowed all homeowners with federally backed mortgages to be eligible for up to one year of forbearance (not making a mortgage payment).
  • We expect lending to take longer while the
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Real Estate News

 

17 Dec   bit.ly Tweet @DianaOlick Diana Olick @DianaOlick 16 Dec   www.cnbc.com Tweet @CareyFrankel Carey Frankel @CareyFrankel 16 Dec   bit.ly Tweet @nzshowhome Showhome @nzshowhome 16 Dec…
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ponte_vedra_beachIn an area that most people think of as built out and developed, the parking lots and wooded area owned by the PGA Tour may provide the last, large scale opportunity.  In heated discussions, the PGA tour is working for re-zoning and waivers against some popular protest. The PGA tour would like to combine all the parcels into one large 180 acre development. The different parcels do have approval for such projects as commercial use or 684 residential multi-family units (condos or apartments). Most of the disagreement is not about combining the parcels but the waiver of building restrictions such as sign heights and buffers for connecting properties. Further concern  are caused by there being no definite plan being made for the final development

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home_for_sale_on_computer

Standard Pacific currently has the following available in Nocatee:

Greenleaf Village

They have approximately 12 homes remaining in this community. There are 4 home designs to choose from in Greenleaf Village (Plymouth, Hamilton, Castleberry and Bethany). The model is the Hamilton. These homes start in the $300s.

 Greenleaf Lake

They have approximately 32 home sites remaining in this community to sell. There are 4 home designs to choose from in Greenleaf Lakes (Plymouth, Hamilton, Carina and Bethany). These homes start in the $300s.

Villas at Nocatee

The Villas at Nocatee are currently open for sale out of the Greenleaf Village model. They have approximately 83 home sites remaining in this community to sell. There are 5 home designs

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National Foreclosure Statistics Summary

Inventory is down 35% from June 2013. That is 32 consecutive months with year over year decline in foreclosure inventory. Florida is still ranked as #2 State with the Most Foreclosures.

Northeast Florida Distressed Property Summary

There are currently 681 distressed properties on the market in Northeast Florida. The average list price is $152,424. Banks are looking to move these properties fast. So we have seen a good number of these properties with a price reduction in the last 30 days. The average price reduction was 5.41% which is pretty hefty.

Luxury Distressed Property in Northeast Florida

Distressed properties do not mean non-luxury properties. The highest prices distressed home is on the

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5 Real Estate Predictions for 2014-2015

#1 Higher Interest Rates

The Federal Reserve is planning to end the purchase of treasury and mortgage-backed securities in October. Lawrence Yun expects interest rates to increase in 2015.

#2  Higher Inflation & Prices

NAR’s Chief Economist Lawrence Yun expects Consumer Price Index (CPI), which measures inflation, to increase 3.5 percent in 2015.

#3 Higher Housing Sales Expected from Pent Up Demand

The U.S. gained 34 million since 2000, but home sales were 5.2 million in 2000 and 5.1 million in 2013. The pent-up demand will eventually equate to additional home sales over the next few years, Yun says.

#4 Real Estate will continue to be a Great Investment

Real Estate investment

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new_construction_dealRichmond American Homes Summer Builder Promotion!

Up to $10,000 closing cost promotion, $0 loan origination fee and Up to $8,000 in select home upgrades*. This deal is only available on select homes that close by 9/30 & finance through HomeAmerican Mortgage Corporation.

Where is this deal available?

The Palms - Priced from the mid $500's in Ponte Vedra Beach. Hard to find new construction in Ponte Vedra Beach at this price. Sizes in this community fall in the 3100sf-4190sf range. Only 9 homesites and just off of A1A.

Old Sebastian Point - Priced from the low $200's with natural wetland setting. Homes range in size from 1560sf-3030sf and 3-4 bedrooms. Prized location in St. Augustine, FL 32084 & within biking distance to the shops along the

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june2013-42_400Not only do you get a loan with just 3.5% down but you will also be able to save around $10,000 over the life of the loan if you attend classes from the Homeowners Armed with Knowledge (HAWK) program before shopping for your home.

But that is not all!

2 years with no deliquent payments means another 15 basis-point reduction.

 

 

How does this work?

Home Buyers must take the class before signing a purchase contract for real estate. Additional classes will be needed before completing the sale. The actual savings will be in "50 basis-point reduction in upfront mortgage insurance and a 10 basis-point reduction in the annual premium cost. Upfront mortgage insurance premiums are 1.75% of the total loan amount, while annual monthly premium

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