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Experts Discuss the Strength of the Housing Market

Experts Discuss the Strength of the Housing Market

America has had a very challenging 2020. A global pandemic, a financial crisis with millions still unemployed, and an upcoming presidential election. Despite all these issues, the real estate market shows resilience and strength. Here is what the experts are saying. Ivy Zelman, CEO of Zelman & Associates: “Whether in terms of pending contract activity […]

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Homeownership Rates Rise in 2020

2020 has been quite the year. From COVID-19 to historically high unemployment rates and finally the economic recession. Despite all these challenges, the homeownership rate rose in quarter 2 of 2020. Americans are still confident about buying a home even during the crisis. The U.S. Census Bureau said: “The homeownership rate of 67.9 percent was 3.8 percentage […]

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Guidance is Most Important When You Are A First-Time Homebuyer

First time homebuyers made up 35% of the homebuyers in the month of June. This trend is building and steadily increasing through the year. The National Association of Realtors says: “The share of first-time buyers increased in March through June—right into the heart of the pandemic period and the surge in unemployment—and is now trending […]

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Has the Economic Recovery Begun?

Wall Street Journal performed their monthly Survey of Economists and reported: “The U.S. economy will be in recovery by the third quarter of this year, economists said in a survey that also concluded the labor market will fare better than previously expected following the effects of the coronavirus pandemic.” The US Bureau of Labor Statistics […]

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Week of June 1st, 2020 in Review

The labor sector dominated the headlines as the ADP and Bureau of Labor Statistics Jobs Reports for May were released. First up on Wednesday, the ADP Report showed 2.76 million job losses in the private sector during the month of May. While this remains a devastating number, it was also significantly better than expectations, which […]

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Are You Ready for the Summer Housing Market?

Normally Spring is a very busy season for the real estate market. This year things have been quite different. As the COVID-19 pandemic spread, many sellers were cautious about listing their homes for sale. They were afraid about people coming into their homes for showings. They are also concerned with getting low offers since there […]

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Is a Recession Here? Yes. Housing Crash? No.

The National Bureau of Economic Research (NBER) announced on Monday that the United States economy is in a recession. A recession is defined as: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of […]

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Shocking Unemployment Report

The U.S. Bureau of Labor Statistics released the May Employment Situation Summary on Friday. Most predicted that the unemployment rate would increase to 20% from the 14.7% announced last month. The results were shocking. The Wall Street Journal said: “The May U.S. jobless rate fell to 13.3% and employers added 2.5 million jobs, blowing Wall Street expectations […]

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Time to Sell Your Vacation Home?

COVID-19 has hit the travel industry the hardest. Even as things are starting to reopen, it is difficult to tell how long it will take for people to start traveling and taking summer vacations. That industry may take time to recover. Airbnb has over 660,000 listings in the United States. Homeowners who rent their vacation […]

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Reasons To Be a Homeowner

Some Highlights June is Homeownership MonthNow is an excellent time to become a homeownerIf you are contemplating whether it is the right move for you, call us so we can help youPrestige Waterfront Realty has South Florida’s Real Estate Experts that will help you through every step of the way. Call 954-830-7000Interested in getting pre-approved […]

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The Housing Market will Help Bring the Economy Back Up

With the unprecedented pandemic and states starting to reopen, all focus is on the American Economy. The major question is what sectors of the economy will contribute and drive its recovery? The great news is that many experts agree that the housing market will drive the economy to recovery. In the 2008 recession, the housing […]

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Family Wealth – The Benefit of Homeownership

Owning a home is financially the smartest decision you can make in your life. Some see it as a “savings plan”. When you pay a rent payment you are ultimately losing your money. You pay for a one month usage of the property and are realistically paying the homeowner’s mortgage. There is no benefit for […]

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Home Buyer Wish List

Bottom Line Realtor.com performed a survey to ask what homeowners want to change about their home.More spaceUpdated kitchenHome gymExtra room If you are thinking about selling your home, let’s talk! Call South Florida Real Estate Experts at Prestige Waterfront Realty at 954-830-7000. Let us help you move to a more desirable home.

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Will the Housing Market Pick Up This Year?

The global pandemic has altered the plans of many buyers and sellers. Many are wondering if the market will change and if so how. They are wondering if they should put their home buying on hold or continue. Sellers are trying to determine if they should still sell or if the market is no longer […]

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A Shift to the Suburbs

Traditionally many people across the country love to purchase homes in urban cities. Populated cities give the advantage of being close to entertainment, shopping, restaurants, and grocery stores. Being able to walk to main attractions without commuting is a perk of city living. The disadvantage of living in the city is lack of space and […]

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Unemployment Report

Last week the Bureau of Labor Statistics released that the unemployment rate has jumped to 14.7%. This number is predicted to be higher next month. This rate indicates how many families are undergoing financial hardships as a result of COVID-19. Although the unemployment rate is terrifyingly high, it is important not to exaggerate. Many are […]

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Are Home Prices in 2020 Expected to Appreciate or Depreciate?

There is no question that the housing market has been affected to some degree by the pandemic that our country is experiencing. As a result, some potential buyings are questioning whether home prices are expected to appreciate or depreciate. The price of any commodity is determined by the market’s supply and demand. Every month the […]

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The Day Americans Return to Work is Coming

Some Highlights Let’s reflect on what historical leaders have taught us about difficult times The day that all Americans can return to work is coming. Stay positive. We are resilient and will bounce back from this. Thinking of buying or selling a home in Florida? Contact Prestige Waterfront Realty at 954-830-7000.

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Unemployment: There’s Light At The End Of The Tunnel

Tomorrow the U.S. Bureau of Labor Statistics will be releasing the unemployment rate for April 2020. It is expected to hit a peak and will be a true representation of the number of families affected by the pandemic. The number of unemployed is expected to be shocking. Media will be splattered with doomsday predictions and […]

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Why We Won’t See As Many Foreclosures Today As In 2008

Unemployment claims have spiked over the past month and consumer fear has spread. Many of the unemployed have found jobs in industries such as delivery, retail, healthcare, grocery stores, etc, however millions are still unemployed. There is high uncertainty in today’s market and for this reason it is important to understand what unemployment means to […]

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Here’s Why Many Are Confused About The Economic Recovery

The current health crisis has caused everyone to question when the economy will recover. While COVID-19 has reached a plateau, many are concerned about when businesses will start opening up. There are three types of sciences used to forecast the economic recovery. Business Science – Looks at how the economy rebounded in the past.Health Science – Looks at when […]

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Highest US Homeownership Rate in 8 Years

The past 2 months have been a somewhat a whirlwind for all of us. With government stay-at-home orders, our lives have been set to pause. We have transitioned to working from home and becoming an educator/daycare for our kids. It is a whole new reality for us. On the other hand, we have found a […]

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How to Test Drive a Neighborhood During COVID-19

Some Highlights Looking to buy a home but worried about the shelter in place order? COVID-19 doesn’t have to stop your home search.Contact South Florida Real Estate Specialists at Prestige Waterfront Realty at 954-830-7000

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Buying a Home in Florida Right Now: Easy? No. Smart? Yes!

There is no doubt that the economy is currently volatile. Some homebuyers have put a pause on search for a home, while others have not. The real estate industry’s leasing showing management technology provider ShowingTime revealed that buyers in South Florida have started to make home-buying a priority again. In the latest report, they revealed: “The […]

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Rise to the Top by Selling Your South Florida House Today

With the release of the latest Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that people selling their Florida houses today are holding strong on price. According to the most recent data, 74% of real estate agents noted that sellers are not dropping listing prices to attract more buyers. Lawrence Yun, Chief Economist at NAR, noted: “The housing […]

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