Tuesday, April 6, 2021 / by Barbara Oleska
So many of my Flamingo buyers are loving amenities and flocking to the Bridges communities! I'm watching the numbers everyday and can we say roasty, toasty market over on the west side? As of this moment there are a total of 12 resale homes available and 34 pending sales. What does that mean? Based on pending sales we have about 2 weeks of inventory. It's supply and demand.
For Sale 3
For Sale 9
Boca Bridges Resale (New Homes still Available - Call me!)
For Sale 0
Prices seem so high and my buyers ask me how much should homes cost in the Bridges communities. I can't give a blanket answer because it depends on so many factors which include size, age, style, view, etc. Another important question is in which collection is the home located? All of the Bridges communities have four collections priced from entree through premium. How close the home is to 441, Lyons, or the Turnpike matters, too.
How a home i! ...
Wednesday, March 31, 2021 / by Barbara Oleska
Do you know what you want? Do you have the will to win?
Housing inventory is low and competition is fierce. It's not a game for the faint of heart. If you know what you want and you have the will to win, with a great coach you will be victorious.
A beautiful home attracts attention. These days, too much attention! 10 to 20 offers are not unusual. Unfortunately for some buyers, they are pushed to the sidelines, but if you can come on strong, you can take the contract.
Be aggressive. Be, be aggressive.
It's a seller's market. That's reality. In some segments of the market we have less than a month of supply. That means that if no new properties came on the market there would be nothing left to buy in a month (Sellers, before you get too happy, slappy with that information, stay tuned for a future post about why homes fail to sell even in a smoking, hot market!).
Be aggressive with price and terms. Make sure your agent is strategic and on the phone pulling as mu; ...
Tuesday, March 23, 2021 / by Barbara Oleska
When thinking about selling, homeowners often feel they need to get their house ready with some remodeling to make it more appealing to buyers. However, with so many buyers competing for available homes right now, renovations may not be as vital as they would be in a more normal market. Here are two things to keep in mind if you’re thinking of selling this season.
1. There aren’t enough homes for sale right now.
A normal market has a 6-month supply of houses for sale, but today’s housing inventory sits far below that benchmark. According to the National Association of Realtors (NAR), there’s only a 1.9-month supply of homes available today. As a result, buyer competition is high and homes are only on the market for about 21 days, during which time many receive multiple offers from hopeful buyers.
In a competitive market that’s moving so quickly, it makes sense to sell your house when buyers are scooping homes up as fast as they’re being listed ...
Monday, March 22, 2021 / by Barbara Oleska
Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about the housing market and how it will bloom this season.
Danielle Hale, Chief Economist, realtor.com:
“Despite early weakness, we expect to see new listings grow in March and April as they traditionally do heading into spring, and last year’s extraordinarily low new listings comparison point will mean year over year gains. One other potential bright spot for would-be homebuyers, new construction, which has risen at a year over year pace of 20% or more for the last few months, will provide additional for-sale inventory relief.”
Ali Wolf, Chief Economist, Zonda:
“Some people will feel comfortable listing their home during the first half of 2021. Oth. ...
Thursday, February 18, 2021 / by Barbara Oleska
3 Reasons We’re Definitely Not in a Housing Bubble
Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.
1. This time, housing supply is extremely limited
The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.
In real estate, supply and demand are measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months’ supply of inventory for the market is about 6 months. Anything above that defines a buyers’ market, indicating prices will soften. Anything below . ...