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Happy Thanksgiving

Prestige Waterfront Realty would like to wish everyone a happy and healthy Thanksgiving! May your day be filled with love, joy, and happiness. May the blessings of Thanksgiving fill your heart and home with joy. Warmest Thanksgiving greetings to you and your family

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Condo Maintenance Costs Soar Due to SB4-D

Few real estate professionals and associations have been fully transparent about the effects of “The Surfside Bill” also known as SB 4-D, which passed earlier this year. With the 2023 condo budget fast approaching, many homeowners find themselves sticker-shocked and wondering why no one gave them a heads-up as to what to expect. Among the […]

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Condo Insurance Surge

With the end of the year, fast-approaching condo associations throughout South Florida are tackling budgeting issues for 2023. In addition to increasing maintenance fees resulting from recent condo legislation requiring more frequent inspections and forced budgeting for upcoming work, condos are starting to realize that they are facing massive insurance hikes as well. As COVID […]

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Real Estate Is Driving the Economy

The housing market is playing a major role in today’s economic recovery. Many have gone through major changes in their lives this year. From unemployment, to working from home, to homeschooling. These changes all contribute to people contemplating whether they should buy or sell today. The high buyer demand coupled with the low housing inventory […]

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Sellers Are Returning to the Housing Market

Today’s housing market has low supply and high demand. As a result it can be difficult for buyers to get a home under contract. We are slowing seeing that sellers are coming back on the market. This is a great opportunity for buyers. Javier Vivas, Director of Economic Research at realtor.com, explains: “Seller confidence has been improving gradually after […]

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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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Will Homebuyers Move to the Suburbs?

As we all know most Americans continue to work remotely from home. In addition, they are worried about living in populated areas because of COVID-19. Will this cause people to move out of large cities into the suburbs? Spending more time at home and need for larger space is definitely causing interest in homebuyers to […]

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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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Housing Market is Strong

The country is still struggling with COVID-19, however the real estate market is resilient. Three reports were recently released showing the housing market is growing. 1. Ivy Zelman’s Real Estate Broker Survey This survey showed that buyer demand is high: “This month’s overall homebuyer demand rating…was easily the strongest sequential gain in our survey history…Strength continues to […]

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Homebuying is Affordable in Today’s Market

There comes a time in everyone’s life to upgrade and buy a single family home. The health crisis doesn’t change this in today’s market. Despite COVID-19 families are outgrowing their homes, some are moving for job positions, and others need to upgrade because they are expecting an addition to the family. Understanding how home affordability […]

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Homebuyers are Purchasing Today

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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Home Equity is Growing

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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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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Real Estate Leader in Best Investment Poll

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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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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