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Everyone is looking for signs of economic recovery. Most experts currently believe that the economy will see a full recovery in the third quarter of 2020. They also believe that the housing market will be the factor that brings us out of the recession. Builder confidence may be the spark needed to start the recovery. […]
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The current economic recession and worldwide pandemic has had a big effect on the nation an its consumers. As a result it is very difficult to forecast and predict consumer behavior and how home prices will be affected. In a normal scenario, this would be determined by a formula. Supply of homes for sale divided […]
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Mortgage rates are at a historic low and are projected to remain low through the next year. This is a big incentive for homebuyers. Low interest rates means lower monthly payment or higher buying power. Homeowners who are looking to sell also have an opportunity to take advantage of those eager homebuyers. According to FreddieMac: […]
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One of the best things about the 2020 real estate market is that homeowner equity is high. CoreLogic recently released a report that stated that in almost every state there was a year-over-year 6.5% equity increase. According to the report: “CoreLogic analysis shows U.S. homeowners with mortgages (roughly 63% of all properties) have seen their […]
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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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Lending Tree recently did a survey on 1,000 potential buyers. 53% are likely to buy a home within the next year. The pandemic has not changed the plans of these homebuyers. The survey results below show the reasons why people will be buying within the next year: Let’s break down why these are a few […]
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Gallup conducts an annual survey to poll Americans on what their best long-term investment is. The choices are: real estate, stocks & mutual funds, gold, savings/CDs, or bonds. Real estate is the leader in the survey for the 7th year. According to Gallup: “Real estate remains the most favored investment to Americans, as has been […]
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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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Some Highlights Let’s connect today if you are planning on selling. It is a great time. If you are trying to purchase, we can help! From the mortgage pre-approval to the closing. We can help every step of the way!
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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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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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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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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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Some Highlights June is Homeownership Month Now is an excellent time to become a homeowner If you are contemplating whether it is the right move for you, call us so we can help you Prestige Waterfront Realty has South Florida’s Real Estate Experts that will help you through every step of the way. Call 954-830-7000 […]
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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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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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Bottom Line Realtor.com performed a survey to ask what homeowners want to change about their home. More space Updated kitchen Home gym Extra 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 […]
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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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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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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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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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Last updated on May 11th, 2020 at 01:38 amSome 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 […]
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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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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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