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Preparing Your Home for Fall: Essential Home Improvement Projects

As the fall season approaches, homeowners in South Florida have a unique opportunity to prepare their homes for the cooler months ahead. While the weather here doesn't bring the same dramatic changes as in other parts of the country, it's still important to keep your home in top shape. Here are some essential home improvement projects to consider this fall.

1. Inspect and Clean Gutters

Fall means shedding leaves, and while South Florida doesn't experience the same leaf drop as northern regions, it's still crucial to inspect and clean your gutters. Clogged gutters can lead to water damage and affect your home's foundation. Ensure your gutters and downspouts are clear and properly directing water away from your home.

2. Check and Maintain Your HVAC System

With the transition from summer to fall, it's a good time to ensure your HVAC system is functioning efficiently. Schedule a professional inspection and cleaning. This not only improves your system's efficiency but also extends its lifespan. Don't forget to replace air filters regularly to maintain good indoor air quality.

3. Seal Windows and Doors

Even in South Florida, cooler breezes can creep in through gaps in windows and doors. Check for drafts and seal any gaps with weatherstripping or caulk. This simple step can improve your home's energy efficiency and keep your living spaces comfortable as temperatures dip.

4. Landscaping and Yard Maintenance

Fall is a great time to take care of your yard. Trim overgrown bushes and trees to prevent any potential damage from storms. Consider planting fall flowers or shrubs that thrive in cooler weather. Mulching can also help protect plant roots and retain soil moisture.

5. Roof Inspection and Repairs

Hurricane season can take a toll on your roof. Before fall settles in, inspect your roof for any damage or leaks. Addressing minor repairs now can prevent more significant issues later. If you're not comfortable doing this yourself, hire a professional roofer to conduct a thorough inspection.

6. Pressure Wash Exterior Surfaces

Over the summer, your home's exterior can accumulate dirt, mildew, and grime. Pressure washing your walls, driveway, and walkways can give your home a fresh, clean look. It's also a good time to check for any cracks or damage that may need attention.

7. Upgrade Insulation

While we enjoy mild winters, improving your home's insulation can make a noticeable difference in maintaining a comfortable temperature. Insulating your attic and walls can help keep your home cooler in the summer and warmer during the few chilly days of winter, ultimately saving on energy costs.

8. Inspect and Clean Your Chimney

If your home has a fireplace, fall is the perfect time for a chimney inspection and cleaning. Even if you don't use it frequently, ensuring it's clean and free of obstructions is crucial for safety. This step will also be appreciated when you light your first fire on a cool evening.

9. Test Smoke and Carbon Monoxide Detectors

Safety should always be a priority. Test all smoke and carbon monoxide detectors in your home and replace batteries if needed. This is also a good time to review your family's emergency plan and ensure everyone knows what to do in case of a fire or other emergencies.

10. Plan for Interior Upgrades

With the cooler weather, you might find yourself spending more time indoors. Consider upgrading your home's interior with new paint, lighting fixtures, or even a kitchen remodel. Small changes can make a big impact on your home's overall appeal and comfort.

Conclusion

Fall home improvement projects not only enhance your property's aesthetics but also ensure it remains safe and efficient as the seasons change. By taking these steps, you can enjoy a comfortable and well-maintained home throughout the fall and beyond. If you need professional assistance or more tips on how to prepare your home for the upcoming season, feel free to reach out to our team at Real Estate Specialists. We're here to help you make the most of your home all year round.

Aug. 12, 2024

Are There More Homes for Sale Where You Live?

One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year. 

Recent data from Realtor.com shows that nationally, there are 36.6% more homes actively for sale now compared to the same time last year. That’s a significant improvement. It gives you far more options for your move than you would’ve had just a year ago. And with supply improving, you’re also regaining a bit of negotiation power. So, if you’re someone who thought about buying a home over the last few years but was discouraged by how limited inventory was, this should be welcome news.

As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

 “Increased housing supply spells good news for consumers who want to see more properties before making purchasing decisions.”

But just so you have perspective, even though inventory has grown, that doesn’t mean we’ve suddenly flipped to an oversupply of homes on the market. There are nowhere near enough homes for sale to make prices crash. If you compare today’s inventory levels to more normal, pre-pandemic numbers (2017–2019), there are still roughly 29% fewer homes actively for sale now (see graph below):

So, while we’re up by almost 37% year-over-year, we’re still not back to how much inventory there’d be in a normal market. 

As Bill McBride, Housing Analyst for Calculated Risk, explains:

 “ . . . currently inventory is increasing year-over-year but is still well below pre-pandemic levels.”

But that’s okay. It’s to be expected. As a country, it’ll take a while to get back to the typical level of homes for sale. And the good news for buyers is, in some select markets, it’s closer to being a reality.

Here’s a rundown of what today’s inventory growth looks like by region (see graph below):

No Caption ReceivedReal estate will always be hyper-local. If you want to find out what inventory numbers look like where you live, reach out to a local agent. They’ll be able to tell you what they’re seeing and how it stacks up to the national market. You may find you have even more opportunity to move where you are.

Bottom Line

The supply of homes across the country is improving in a big way. As a buyer, that gives you more options for your home search, and ultimately, a better chance of finding what you like.

So, what are you looking for in a home? And what’s your budget? Reach out to a local agent to go over that together to find the options that may be right for you.

Posted in Working with a Realtor
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Aug. 5, 2024

Curious About What Your Home is Worth?

What Every Homeowner Should Know About Their Equity

 

What Every Homeowner Should Know About Their Equity

Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize.

Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home.

Home Equity: What Is It and How Much Do You Have?

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.

Recent data from the Census and ATTOM shows Americans have significant equity right now. In fact, more than two out of three homeowners have either completely paid off their mortgages (shown in green in the chart below) or have at least 50% equity in their homes (shown in blue in the chart below):

No Caption ReceivedToday, more homeowners are getting a larger return on their homeownership investments when they sell. And if you have that much equity, it can be a powerful force to fuel your next move.

What You Should Do Next

If you’re thinking about selling your house, it’s important to know how much equity you have, as well as what that means for your home sale and your potential earnings. The best way to get a clear picture is to work with your agent, while also talking to a tax professional or financial advisor. A team of experts can help you understand your specific situation and guide you forward.

Bottom Line

Home prices have gone up, which means your equity probably has too. Connect with a local real estate agent so you can find out how much equity you have in your home and move forward confidently when you sell.

 

Posted in Working with a Realtor
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July 22, 2024

More Opportunities for Home Buyers in 2024

Unlocking Homebuyer Opportunities in 2024

 

Unlocking Homebuyer Opportunities in 2024

There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:

  • They couldn’t find anything in their price range
  • They didn’t have any successful offers or had difficulty competing
  • They couldn’t find the right home

If any of these sound like why you stopped looking, here’s what you need to know. The housing market is in a transition in the second half of 2024. Here are four reasons why this may be your chance to jump back in.

1. The Supply of Homes for Sale Is Growing

One of the most significant shifts in the market this year is how the months’ supply of homes for sale has increased. If you look at data from the National Association of Realtors (NAR), you’ll see how inventory has grown throughout 2024 (see graph below): No Caption Received

This graph shows the months’ supply of existing homes – homes that were previously lived in by another homeowner. The upward trend this year is clear.

This increase means you have a better chance of finding a home that suits your needs and preferences. And if the biggest reason you put off your home search was difficulty finding the right home, this is a big relief.

2. There’s More New Home Construction

And if you still don’t see an existing home you like, another big opportunity lies in the rise of new home construction. Builders have worked to increase the supply of newly built homes this year. And they’ve turned their attention to crafting smaller, more affordable homes based on what’s most needed in today’s market. This helps address the long-standing issue of housing undersupply throughout the country, and those smaller homes also offset some of the affordability challenges you’re feeling today.

According to data from the Census and NAR, one in three homes on the market is a newly built home (see graph below):No Caption Received

This means, that if you didn’t previously look at newly built homes as part of your search, you may have been cutting your pool of options by a third. Not to mention, some builders are also offering incentives like buying down mortgage rates to make it easier for buyers to get a home that fits their budget.

So, consider talking to your agent about what builders have to offer in your area. Your agent’s expertise on builder reputations, contracts, and more will help you weigh your options.

3. Less Buyer Competition

Mortgage rates are still hovering around 7%, so buyer demand isn’t as fierce as it once was. And when you combine that with more housing supply, you have a better chance of avoiding an intense bidding war. Danielle Hale, Chief Economist at Realtor.com, highlights the positive trend for the latter half of 2024, saying:

“Home shoppers who persist could see better conditions in the second half of the year, which tends to be somewhat less competitive seasonally, and might be even more so since inventory is likely to reach five-year highs.”

This creates a unique opportunity for you to find a home you want to buy with less stress and at a potentially better price.

4. Home Prices Are Moderating

Speaking of prices, home prices are also showing signs of moderation – and that’s a welcome shift after the rapid appreciation seen in recent years (see graph below): No Caption Received

This moderation is mostly due to supply and demand. Supply is growing and demand is easing, so prices aren’t rising as fast. But make no mistake, that doesn’t mean prices are falling – they’re just rising at a more normal pace. You can see this in the graph. The bars are still showing prices increasing, just not as dramatic as it was before.

The average forecast for home price appreciation in 2024 is for positive growth around 3% to 5%, which is more in line with historical norms. That moderation means that you are less likely to face the steep price increases we saw a few years ago.

The Opportunity in Front of You

If you’re ready and able to buy, you may find that the second half of 2024 is a bit easier to navigate. There are still challenges, but some of the biggest hurdles you’ve faced are getting better as time wears on.

On the other hand, you could choose to wait. But if you do, here’s the risk you run. As more buyers recognize the shift in the market, competition will grow again. On a similar note, if mortgage rates do come down (as forecasts say), more buyers will flood back into the market. So, making a move now helps you take advantage of the current market conditions and get ahead of those other buyers.

Bottom Line

If you’ve put your dream of homeownership on hold, the second half of 2024 may be your chance to jump back in. Connect with a real estate agent to talk more about the opportunities you have in today’s market.

 

Posted in Working with a Realtor
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July 15, 2024

Why Hiring a Real Estate Agent is so Crucial

Navigating the housing market can be tricky, especially these days. That’s why having an experienced guide when buying or selling a home is so important. The market isn’t exactly straightforward right now, and working with a real estate expert can offer insights and advice that make all the difference.

While today’s market conditions might seem confusing or overwhelming, you don’t have to handle them alone. With a trusted expert leading you through every step, you can navigate the process with the clarity and confidence you deserve.

Here are just a few of the ways a real estate expert is invaluable:

Contracts – Agents help with the disclosures and contracts necessary in today’s heavily regulated environment.

Experience – In today’s market, experience is crucial. Real estate professionals know the entire sales process, including how it’s changing right now.

Negotiations – Your real estate advisor acts as a buffer in negotiations with all parties, and advocates for your best interests throughout the entire transaction.

Industry Expertise– Knowledge is power in today’s market, and your advisor will simply and effectively explain processes, market conditions, and key terms, translating what they mean for you along the way along the way­.

Pricing – A real estate professional understands current real estate values when setting the price of your home or helping you make an offer to purchase one. Pricing matters more than ever right now, so having expert advice will help ensure you’re set up for success.

A real estate agent is a crucial guide through this challenging market, but not all agents are created equal. A true expert can carefully walk you through the whole real estate process, look out for your unique needs, and advise you on the best ways to achieve success.

Finding an expert real estate advisor – not just any agent – should be your top priority if you want to buy or sell a home. As Bankrate says:

“Real estate is very localized, and you want someone who’s extremely knowledgeable about the market in your specific area. You should also look for someone with a successful track record of negotiating and closing deals, preferably for homes similar to the kind you want to buy.”

What’s the Key To Choosing the Right Expert?

Like any relationship, it starts with trust. You’ll want to know you can depend on that person to always put you and your best interests first. That means hiring a true professional. As Business Insider explains:

“As long as you’ve properly vetted the agents you’re considering and ensured they have the necessary expertise, it’s ok to go with your gut when making your final decision on which real estate agent you want to work with. You’re going to be working closely with this person, so it’s important to choose an agent you’re comfortable with.”

Bottom Line

It’s critical to have an expert on your side who’s well-versed in navigating today’s housing market dynamics. If you’re planning to buy or sell a home this year, connect with a real estate professional who will give you the best advice and guide you along the way.

 

Posted in Market Updates, Working with a Realtor
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July 8, 2024

Current Real Estate Market Trends

Current Real Estate Market Trends in Port St. Lucie, Florida

Port St. Lucie, Florida, continues to capture the attention of homebuyers and investors alike. Known for its picturesque landscapes, family-friendly neighborhoods, and robust real estate market, Port St. Lucie is an attractive option for those looking to settle in South Florida. In this blog post, we'll dive into the current market trends shaping the real estate scene in Port St. Lucie.

Steady Home Price Growth

The Port St. Lucie real estate market has experienced steady home price growth over the past year. According to recent data, the median home price in Port St. Lucie has increased by approximately 10% year-over-year. This upward trend is fueled by a combination of strong demand, limited inventory, and the area's overall appeal. Buyers are drawn to the city's affordable prices compared to other parts of South Florida, making it an attractive option for both first-time buyers and those looking to relocate.

Inventory Levels and Buyer Competition

Despite the growing popularity of Port St. Lucie, the market is facing a challenge familiar to many hot real estate markets: low inventory. The number of available homes for sale has decreased, creating a competitive environment for buyers. Multiple offers and bidding wars have become common, particularly for well-priced and well-maintained properties. Buyers are encouraged to be pre-approved for a mortgage and ready to act quickly when they find the right home.

New Construction on the Rise

New construction is on the rise in Port St. Lucie. Buyer are turning to builders who are offering lower interest rates and closing cost incentives. Several new residential developments are underway, offering a mix of single-family homes, townhouses, and condos. These new construction homes are appealing to buyers looking for modern amenities, energy-efficient features, and the opportunity to customize their living spaces. Additionally, new developments often include community amenities such as pools, parks, and recreational facilities, enhancing the overall lifestyle.

Increasing Popularity of Suburban Living

The trend towards suburban living has gained momentum, with many homebuyers seeking more space, both indoors and outdoors. Port St. Lucie's suburban environment, with its abundance of parks, golf courses, and nature preserves, fits this demand perfectly. Families, in particular, are attracted to the area's top-rated schools and family-friendly neighborhoods, making it an ideal place to raise children.

Investment Opportunities

Port St. Lucie remains a promising market for real estate investors. The combination of steady home price appreciation, strong rental demand, and a growing population creates a favorable environment for investment properties. Investors are particularly interested in single-family homes and multi-family units, which offer attractive rental yields and long-term growth potential.

The Future Outlook

The future looks bright for the Port St. Lucie real estate market. The city's continued growth, coupled with its desirable location and quality of life, ensures that demand will remain strong. As new developments come online and more inventory becomes available, the market may experience some stabilization. However, given the current dynamics, buyers and investors should be prepared for a competitive environment.

In conclusion, Port St. Lucie is a thriving real estate market with plenty of opportunities for buyers and investors. If you're considering buying or investing in this beautiful part of South Florida, now is an excellent time to explore your options. Contact us today to learn more about available properties and how we can help you navigate the Port St. Lucie real estate market.

Are you interested in exploring the real estate opportunities in Port St. Lucie? Contact us today for personalized assistance and expert advice. Our team is ready to help you find your dream home or investment property in this dynamic market.

Posted in Market Updates
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July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates
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