Tuesday, December 27, 2022 / by Dave Magua
Staging a home for sale may require some extra presale prep, but the time and money reap plenty of rewards. The majority of buyers' agents (82%) said that staging makes it easier for buyers to visualize a property as their future home, according to a survey by the National Association of Realtors. Nearly a quarter (23%) of buyers' and sellers' agents said that a staged home received an offer 1% to 5% higher than a similar home that hadn't been staged and 18% of sellers' agents said the value of a staged home was 6% to 10% higher. In addition, 31% of agents said that staging decreased the days a home spent on the market.
Among the places to stage, living rooms and kitchens are the most popular, followed by the master bedroom, dining room, and home office. Revive provides professional guidance and services to help you and your clients decide which areas to stage before a sale to help buyers see themselves living in a home.
While each home is different, these seven tips offer a startie ...
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Monday, December 26, 2022 / by Dave Magua
The pandemic disrupted Miami residential real estate in extraordinary fashion, dramatically inflating prices and demand for housing and forever altering the way people think about work, education and lifestyle. At the peak of this unprecedented cycle, bidding wars erupted as soon as listings hit the market, to the spectacular benefit of sellers and agents like me.
But this cycle was never sustainable and has obviously come to a bumpy end. Data clearly shows that the great rush has been over for months, with today’s Miami buyer pool cutting a sharply different profile. Last year, they were making quick decisions; now, they are much less desperate and infinitely more discerning. Time and patience have taught them that they don’t need to be tied down to any particular location, and decision-making has become more difficult. Economic concerns about interest rates, jobs, the stock market and a looming recession that did not exist in 2020 and 2021 are also major factors. Todayk ...
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Monday, December 19, 2022 / by Dave Magua
How many homeowners might be kicked out of Citizens Property Insurance?
TALLAHASSEE — During a hasty special session this week, Florida lawmakers passed sweeping changes to address the state’s ailing property insurance market.
It’s the “biggest, meatiest, beefiest property insurance reform legislation that the state has ever seen,” said the House bill sponsor, Tom Leek, R-Ormond Beach.
While that’s debatable, the changes lawmakers made to the insurance market this week were the biggest in years.
Here are some of the biggest questions coming out of this week:
1. Will rates go down?
Democrats’ top criticism of the legislation is that it won’t decrease rates — at least any time soon.
“That’s fair,” Leek said of the criticism. “That’s not going to provide immediate relief to homeowners.”
At best, homeowners might see rate decreases in 12 to 18 months, lawmakers said.
That’s in part ...
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Tuesday, December 13, 2022 / by Dave Magua
Six out of 10 borrowers who owe more on their mortgages than their homes are worth bought or refinanced their homes in 2022, according to the latest Black Knight Mortgage Monitor
gmast3r/iStock/ Getty Images Plus
Six out of 10 borrowers who owe more on their mortgages than their homes are worth bought or refinanced their homes in 2022, according to the latest Black Knight Mortgage Monitor.
New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.
Recent home price declines in many markets have left about 450,000 homeowners underwater without doing much to ease affordability issues, according to numbers released Monday by data and analytics provider Black Knight.
Six out of 10 borrowers who are underwater — meaning they owe more on their mortgages. ...
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Monday, December 12, 2022 / by Dave Magua
The pandemic disrupted Miami residential real estate in extraordinary fashion, dramatically inflating prices and demand for housing and forever altering the way people think about work, education and lifestyle. At the peak of this unprecedented cycle, bidding wars erupted as soon as listings hit the market, to the spectacular benefit of sellers and agents like me.
But this cycle was never sustainable and has obviously come to a bumpy end. Data clearly shows that the great rush has been over for months, with today’s Miami buyer pool cutting a sharply different profile. Last year, they were making quick decisions; now, they are much less desperate and infinitely more discerning. Time and patience have taught them that they don’t need to be tied down to any particular location, and decision-making has become more difficult. Economic concerns about interest rates, jobs, the stock market and a looming recession that did not exist in 2020 and 2021 are also major factors. Today&r2 ...
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