If you need assistance, please call 754-581-5077

2022 | Dave Magua Group Blog

Wednesday, September 14, 2022   /   by Dave Magua

That's a deal-breaker! 15 reasons buyers are backing out

As the market continues to shift and ambles closer to a buyer’s market, some buyers currently in contract are developing a severe case of buyer’s remorse. Doubtful of their purchase and questioning the timing, some are looking for any excuse possible to bail out of the contract.
Just a few short months ago, most offers we received had most if not all contingencies removed. Fast forward to today, and homes are now going into contract with all contingencies in play. This effectively means that if anything happens to the loan, the property appraises undervalue or something detrimental is discovered during the inspection period; then the buyer has a right to cancel and get their deposit returned (rules and procedures vary from state to state).
The recent uptick in canceled contracts reveals that buyers with tepid toes have begun actively looking for valid ways to terminate their purchase. Here is our list of top 15 potential deal-breakers:
1. Apprais ...

Read More


  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, broward county, sell my property, mortgage, palm beach, jupiter, 2022, heloc

Friday, September 9, 2022   /   by Dave Magua

Tables turn as market conditions begin to favor buyers, survey says

The pandemic ushered in an atypically strong sellers’ market that gave homesellers the leverage to sell overpriced abodes that sparked bidding wars among eager buyers willing to pay five to six figures above the asking price.
However, macro and microeconomic factors — namely inflation and rising mortgage rates — have begun to gradually tip the scales and dampen homesellers’ outlook on the market.
Released on Thursday, Fannie’s Home Purchase Sentiment Index declined 0.8 points to 62 — the lowest reading in a decade and the sixth month of consecutive declines. Whereas declining sentiment has typically been on the homebuyer sideover the past two years, homesellers are also now feeling the burn as they have to temper asking prices, deal with longer days on market, the return of contingencies and in some markets, even make price cuts.
“The share of consumers expecting home prices to go down over the next year increased substantiallN ...

Read More


  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, broward county, mortgage, jupiter, palm beach, 2022

Tuesday, September 6, 2022   /   by Dave Magua

Here’s where travelers are vacationing this Labor Day

Labor Day is one of the busiest times of the year on Airbnb, and the company claims it’s seeing more interest in trips to the beach and homes with high-end pools this weekend. 
College football also played a role in attracting people to the top most sought-after market on the top 10 list this year.
The short-term rental platform said Sept. 4, 2021 — the start of Labor Day weekend — shouldered the largest number of guests checking into a U.S.-based home on Airbnb last year. 
Last year, hosts earned a collective $300 million over the long weekend alone, with the median host earning $750. Given the upward trends in both average daily rates and in the number of people traveling and staying in short-term rentals, it’s a safe bet to expect earnings to increase this year.
More people are traveling solo this year, up about 20 percent compared to last year, Airbnb said in a report released ahead of the holiday weekend.
The company said its nN ...

Read More


  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, broward county, sell my property, mortgage, jupiter, palm beach, sell my house, jupiter farms, 2022

Monday, July 25, 2022   /   by Dave Magua

Seller's market? Buyer's market? The pendulum is swinging

Homes are still selling, but the ongoing market shift is giving homebuyers more and more leverage everyday, agents and economists told Inman this week.
Two and a half weeks ago, Nora Crosthwaite listed a home in a desirable suburb of Des Moines for $275,000.
“It sold the first day,” Crosthwaite told Inman.
A week later, Crosthwaite — an agent with Iowa’s Home Sweet Des Moines — listed another home in the same price range, also in a well-established area suburb. It sold in three days.
In the context of the hyper competitive last two years, these stories sound typical, even unremarkable. High demand and low supply means homes sell quickly.
But in both of these cases, Crosthwaite also saw something else going on: Each home only got one offer each.
“We did a highest and best deadline,” Crosthwaite said of the second listing, “and then only one came in. Both of those homes, if they had gone on the market in January or February,I ...

Read More


  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, sell my property, sell my house, jupiter, luxury, 2022, monthly housing trends report.

Thursday, July 21, 2022   /   by Dave Magua

Home sales fall for 5th month as median prices hit record high

Sales of existing homes ticked down 5.4% between May and June, falling 14.2% from a year ago, as median prices rose to $416,000, according to the National Association of Realtors.
Existing home sales slid for the fifth straight month in June, according to data released Wednesday, marking the latest sign of significant cooling in the housing market.
Sales of existing homes ticked down 5.4 percent between May and June, and were down 14.2 percent from a year ago, according to data released Wednesday by the National Association of Realtors.
Meanwhile, the median price of an existing home climbed 13.4 percent from June 2021, hitting a new high of $416,000, and the inventory of unsold existing homes climbed to 1.26 million by the end of June, the equivalent of a 3 month supply at the current sales pace, an increase from the 2.6 month supply recorded in May — a sign more buyers are pulling back from the market, according to experts.
“Falling housing affordability continueE ...

Read More


  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, broward county, sell my house, palm beach, #newconstruction, jupiter, 2022, monthly housing trends report.

Keyes Illustrated Properties
Dave Magua
21065 Powerline Rd C-7
Boca Raton, FL 33433
754-581-5077
pixellocker

The multiple listing information is provided by MIAMI Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listingare © 2018 MIAMI Association of Realtors®. All Rights Reserved.
The information provided is for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
UP5DB701E1507748.jpg All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2022 BeachesMLS, Inc.
UP5DB701E1507748.jpg All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2022 BeachesMLS, Inc.
This site powered by CINC: www.cincpro.com