Florida Real Estate Blog

Florida's 2012 Hurricane Season Just 1 Week Away - Get Ready!

MIAMI – May 25, 2012 – Thanks to El Nino and other conditions, forecasters predicted yesterday that the 2012 hurricane season – which starts exactly one week from today and runs through November – will be normal. It will see nine to 15 tropical storms with four to eight of those becoming hurricanes. One to three of those could become major storms, defined as ones with winds greater than 110-miles per hour.

Before the season begins, homeowners should prepare. “It’s crucial for policyholders to know about their insurance coverage before a storm hits,” says Ken Enscoe, Nationwide’s director of catastrophe claims operations. “Advance planning is key to surviving the aftermath of a hurricane.”

General steps to prepare for storm season

• Before an event, examine your property for physical or liability hazards.

• Find out if your home meets current building code requirements for high-wind regions.

• Check the four critical areas where wind can enter a home: roof, windows, doors and garage doors. Either you or a building contractor can build and install temporary protection, such as approved wind shutters or plywood on windows and coverings for patio and entry doors, strengthen and stiffen garage doors, and install heavy-duty door hardware.

• Read and understand your insurance policy.

• Inventory valuables and contents in the home with pictures or video. Note the approximate value of each item and the date of purchase. You can also send an inventory to a family member outside your region for safekeeping.

• Make sure important documents, such as an insurance policy or mortgage papers, are stored in a safe deposit or fire safe box.

• Floodwater that enters into a home may be covered by specialized flood coverage underwritten by FEMA’s National Flood Insurance Program. Check with your insurance agent about flood policies, but note that they take 30 days to become effective once you sign up.

© 2012 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

Note from JOHN ELWELL: Next week I will post more information about the hurricane season and how to prepare for one if it hits us. I will include links to state websites that you will find useful as you get ready. So check back after Memorial Day!

Real Estate Agent John Elwell in the TOP 30 CENTURY 21 Agents in North & Central Florida - 1st Quarter of 2012

CENTURY 21's national offices have just released the rankings for the number of sales during the 1st quarter of 2012. This time around I am in the Top 30 of all of the agents working for CENTURY 21 in North and Central Florida. And trust me, there are a lot of agents out there working. The ranking was based on the number of "sides" sold. So basically, the number of housing units sold during that period.

I credit a lot of this success to my work on the internet. I am one of the most internet adept agents in our area and now work on over 50 sites to get my homes more exposure. In the past year I have also incorporated videos into my marketing strategies. People just love to watch these short clip tours that give them a better idea of what a property is like. I believe that they are effected and I enjoy doing them!

I am hoping that pace continues on through the summer even though our "snowbird" visitors will not be here. With prices apparently bottoming-out and starting to again rise, especially in the Sunshine State, people may finally decide to get off the fence and purchase a home before the prices go up too high. And of course, interest rates are still rock-bottom. Housing affordability is seldom this good.

So here's to optimistic hopes that I will stay in the TOP 100 for the remainder of the year! I will certainly do my best to achieve that personal goal!

If you are considering buying and/or selling a home, please feel free to give me a call and see what I can do for you. Just call JOHN ELWELL - REALTOR at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444. Licensed in Florida.

Not Much of a Change, but Average Mortgage Interest Rates Dip a Bit Lower Again!

Today, 5/24/2012, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgages was 3.78%, down from 3.79% last week. The average interest rate for 15 year fixed-rate mortgages was 3.04%, unchanged from last week. A year ago the 30 year rate was 4.60%. Even though the drop was not much, it still is a new record and is moving in a direction that many buyers and sellers will appreciate. Each drop, no matter how minimal, means that even more people will qualify to purchase homes. And that means that sellers will have a larger pool of potential buyers for their properties. Both sided gain!

The National Association of REALTORS (NAR) reported that we have hit the highest level on their "home affordability index" that has ever been achieved. Low prices and low interest rates worked together to reach this level. In April the number of existing-home sales reached its highest level since last January. The sales of new homes also hit a high point in April beating market forecasts. Add to that the fact that home prices have been inching upward, and going even faster in that direction in Florida, and you have signs of an improving housing market. We have not seen a 4 quarter increase since 2007.

If you remember, many experts feel that the housing slump started this last big recession. I am a believer that a housing recovery will be a good omen that points to an overall improvement in our country's financial health. Time will tell, but I am optimistic!

Do keep in mind that we are a very large country, So figures that come out for the entire nation, may have little or no relevance for your particular area. In the end, it is best if you speak with a local REALTOR or financing expert to see what the situation is for your part of the United States. Florida is not Michigan, nor is Maine the same as California. Market conditions can be very different from place-to-place. Also, your own credit history, the property you want to buy, etc. will effect your specific loan options and interest rates. Your mortgage broker or bank loan officer can give you more specific information.

If you want to learn more about Freddie Mac or see the details of their survey, go to: www.freddiemac.com and click on the link for "Current Weekly Survey". They break down the survey by specific regions in the United States so you can see how your state compares to other parts of the country. They also explain the mission of Freddie Mac and offer a lot of useful information for consumers.

If you would like to speak with a lender you can find some at my website: www.jelwell.century21bnr.com . You can also speak with your own bank, credit union, or mortgage broker to see what your particular interest rate would be, should you decide to finance a home purchase.

I would also be happy to assist you in any way that I can. Just call JOHN ELWELL - REALTOR at CENTURY 21 Bill Nye Realty, Inc. : 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com You are also welcome at my webpage: www.jelwell.century21bnr.com  Licensed in Florida.

After 5 Years, Federal Government Reports that Home Prices Increased in 1st Quarter of 2012

WASHINGTON – May 23, 2012 – U.S. house prices rose 0.6 percent in the first quarter of 2012 according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (HPI).

HPI price changes are generally smaller than other indicators because they’re based on same-home selling prices for homes under government-owned Fannie Mae and Freddie Mac. The purchase-only index is based on more than 6 million repeat sales transactions.

Comparing year-to-year, the seasonally adjusted house prices rose 0.5 percent compared to first quarter 2011.

Comparing month-to-month, FHFA’s seasonally adjusted monthly index for March was up 1.8 percent from February.

“Consistent with other housing market indicators, the FHFA HPI showed stronger house prices in the first quarter, most notably in March,” says FHFA Principal Economist Andrew Leventis. “Increased affordability and a somewhat smaller inventory of homes for sale are positively impacting house prices.”

Findings:

• The seasonally adjusted purchase-only HPI rose in the first quarter in 30 states and the District of Columbia.

• The top five annual increases were Hawaii (10.3 percent), Washington, DC (9.8 percent), Iowa (5.7 percent), Florida (4.7 percent) and North Dakota (4.4 percent).

• Of the nine census divisions, the Mountain division experienced the strongest prices in the latest quarter, posting a 1.4 percent increase. Prices were weakest in the New England division, where prices fell -0.7 percent.

© 2012 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

Classic Southern Country Home For Sale on 20+ Acres near Dade City, Florida

 

What Southern Charm! This lovingly preserved classic home is located in the hills between Dade City and San Antonio, Florida. Entering from the inviting front porch you step back in time where homes had character and were not "cookie cutter" in design. This home features 3 bedrooms, 3 baths, wood floors and walls, and 4 fireplaces! High ceilings throughout add to the spacious feeling this home offers. Everywhere you look you see the uniqueness of this gracious home!

Nearby is a detached guest house with a full bath, a galley kitchen, and a screened porch. A perfect place for guests or visiting family members. It would also make a comfortable home office, inlaw apartment, or separate game/entertainment area. Many possibilities here! Guest house's square footage not included in home's total.

Heat getting to you? Take a dip in this beautiful pool. It will be hard to find a better venue for entertaining and relaxing. The pool is screened enclosed for your comfort. Surrounding the pool are grand lawns that offer all the space you will need for outdoor activities like football, soccer, and baseball. You can do them all here. Adjacent to the pool is a gazebo that contains a whirlpool spa. Soak those tired muscles while surrounded by a peaceful, tranquil environment. Hard to find that in a subdivision.

On the side of the main house nearest the pool is a comfortable screened porch where you can watch the antics of the property's resident songbirds and squirrels.

The property includes a barn with 4 stalls and a tack room. Plenty of room for expansion if you so desire. Surrounding the home and barn you have 20+ acres of wooded and open land that leads down to the seasonal lake. The woods provide natural privacy screening from the neighboring properties. They can also provide the wood for the 4 fireplaces so that you can be snug and warm on cool evenings.

At $800,000 this property offers a one-of-a-kind opportunity for that unique homebuyer who is looking for something very different and special. Call JOHN ELWELL at CENTURY21 Bill Nye Realty, Inc. Tel: 813-783-4444 today for more information and to arrange a tour. Or e-mail me at: jelwell1@tampabay.rr.com  Seeing will be believing!

Click on any of the images below to see a larger version.

Things Looking Brighter for Florida Housing Markets in April 2012

ORLANDO, Fla. – May 22, 2012 – Florida’s housing market had increased pending sales and higher median prices in April, along with a greatly reduced inventory of homes and condos for sale, according to Florida Realtors® latest housing data.

“Here in Florida, we’re seeing some strong numbers that show positive momentum for the state’s housing recovery and our economy,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Home prices continue to rise in many markets. Inventory is down to extremely low levels while pending sales are on the rise – almost 38 percent for single-family homes and 25 percent for townhomes and condos. It is not unusual to see multiple offers.

“Now the challenge will be for appraisals to catch up. Overall, we are very happy to see the market move in this direction and expect this trend to continue.”

Pending sales refer to contracts that are signed but not yet completed or closed; closed sales typically occur 30 to 90 days after sales contracts are written.

The statewide median sales price for single-family existing homes in April was $144,350, up 10.2 percent from the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department, and vendor partner 10K Research and Marketing. The statewide median for townhome-condo properties was $108,000, up 16.1 percent over April 2011.

The national median sales price for existing single-family homes in March 2012 was $163,600, up 1.9 percent from the previous year, according to the National Association of Realtors® (NAR). In California, the statewide median sales price for single-family existing homes in March was $291,080; in Massachusetts, it was $267,500; in Maryland, it was $225,601; and in New York, it was $215,000.

The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

Statewide sales of existing single-family homes totaled 17,544 in April, down slightly, 0.7 percent, compared to the year-ago figure. Looking at Florida’s year-to-year comparison for sales of townhomes/condos, a total of 9,765 units sold statewide last month, down 4.9 percent from those sold in April 2011. NAR reported the national median existing condo price in March 2012 was $165,200.

In April, there was a 5.8-month supply of single-family homes in inventory and a 5.7-month supply for townhomes/condos, according to Florida Realtors.

“The housing numbers for the state of Florida continue to signal recovery,” said Florida Realtors Chief Economist Dr. John Tuccillo. “Sales in 2012 are above where they were in 2011, a harbinger of a third straight year of improvement. More importantly, pending sales are up dramatically, and inventory is still falling. Financing constraints still mean that a significant percentage of these will not lead to closed sales, but with the numbers up, we are confident that closed sales will continue to rise.

“The increase in both median and average prices suggests that investors are having a strong impact on the market, soaking up lower priced inventory and causing buyers to move up the price ladder.”

The interest rate for a 30-year fixed-rate mortgage averaged 3.91 percent in April 2012, down from the 4.84 percent average during the same month a year earlier, according to Freddie Mac.

To see the full statewide housing activity report, go to Florida Realtors website at www.floridarealtors.org  and click on the Research page; then look under Latest Housing Data, Statewide Residential Activity and get the April report. Or go to Florida Realtors Media Center at http://media.floridarealtors.org  and download the April 2012 data report PDF under Market Data at: http://media.floridarealtors.org/market-data

© 2012 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

Modestly Priced Mobile with Many Updates For Sale w/Land in Oaks Royal 1 & 2 in Zephyrhills, FL

This very nice 2 bedroom mobile home is located in popular Oaks Royal I & II subdivision, just a little west of Zephyrhills, Florida. This is not a rental park and you own the land under the homes here. Oaks Royal I & II is also on the state's list of registered 55+ subdivisions at the time that this item was posted.

From window replacements & a roof-over in 2008 to a remodeled bathroom, just to mention three, it has many great updates that make it more modern than many of its "younger cousins".

On the back of the home there is a comfortable deck, and on the other side is a pleasant screened lanai for you to enjoy. And adjacent to this area is an extremely roomy storage/laundry area.

Even though the yearly homeowner association fees are low in Oaks Royal I & II, it has great amenities. A large clubhouse, a community swimming pool, and shuffleboard courts. 

The subdivision's central location puts supermarkets, restaurants, pharmacies, parks, medical facilities, etc within a few minutes drive. Even Tampa is not faraway. Very convenient indeed.

One pet is permitted in Oaks Royal I & II, with some weight and breed restrictions.

Could this be just the little piece of sub-tropical paradise that you have been looking for? Come and enjoy all that Florida and this comfortable residence have to offer at an extremely affordable price. Only $39,900!

For more information or to arrange a tour, call: JOHN ELWELL - REALTOR at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444. Licensed in Florida.

Click on any image below to see a larger version

Florida Trailer Estates Furnished Mobile Home For Sale at a Great Price in Zephyrhills, Florida

Don't want to spend a fortune to get your piece of the Sunshine State? Then consider this property. Located in Florida Trailer Estates, this clean & furnished mobile home has 2 bedrooms and 1 bath. The main living area has vaulted ceilings which makes this space seem even larger. The flow from the dining area to the kitchen to the living room is unobstructed. More than enough room to comfortably entertain friends and family. The comfortable furnishings will make spending time here a true pleasure.

The bedrooms are just down the hall with the full bathroom close at hand. Have guests coming down from the north to get a little Florida sunshine? They will no doubt enjoy the accomodations this residence provides.

Just outside the front door is a large winterized Florida room with a connection to the home's central heating and A/C system. It could be a television room, office area, third bedroom, craft room, etc! It even has a trundle bed for guests to sleep on. And extra space is always nice.

Outside is the home's carport, a very big storage shed, and a laundry room with a half bath inside. The washer and dryer inside will also stay with the home.

In Florida Trailer Estates you own the land under the mobile units. This is NOT a rental park. HOA fees are low, yet the park still has a fine recreation building & shuffleboard courts.

Just east of the northern business area of Zephyrhills, Florida, the location of this home will make your trips to supercenters, restaurants, medical facilities, supermarkets, parks, neighboring cities, etc extremely convenient.

For its very modest price of just $35,000, this home has a lot to offer. Come and see if this could be your winter retreat or your “for always” home. Call today!

JOHN ELWELL at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444 or email me at: jelwell1@tampabay.rr.com  Licensed in Florida

Click on any image below to see a larger version.

 

Do-It-Yourself Home Staging Tips for Sellers - They Can Make a Big Difference!

BLOOMFIELD HILLS, Mich. – May 17, 2012 – For sellers, ‘staging’ is a successful tactic often used to increase the appeal of their home to prospective buyers. While most sellers understand the importance of curb appeal, removing clutter and thoroughly cleaning, homebuilder Pulte created a list of other activities that can make a home look its best.

“One of the most important points (is for sellers) to understand the type of person who will likely buy their house,” says Janice Jones, national vice president of merchandising at Pulte Homes. “Singles, young families and empty nesters all have different needs, wants and tastes. Understanding the buyer’s hot buttons will help homeowners determine whether they should change any current spaces to create a better match with the lifestyle of the most likely buyer.”

Use color
Adding a punch of color to accent walls or trim can create depth, enhance kitchen cabinets or bring a boring bathroom to life. Novice designers should draw inspiration from everywhere – home furnishing stores, children’s favorite toys or even a local sports team. Complementing colors can also be found in accessories, such as throw pillows, coffee table books and decorative canisters. Neutral colors in flooring materials, upholstery pieces and window dressing work well to enhance brighter accents.

Less is more
Avoid cluttered spaces and aim to keep rooms inviting, comfortable and memorable. This requires furniture that maximizes seating space without crowding a room. Doing so makes living spaces appear much larger and livable.

Focus on the home
Homeowners achieve better results by displaying only their most important collectible treasures in a bookcase, see-through furniture cabinet or open shelving. The focus should be on the home, not the current homeowner’s knick-knacks.

Know the latest trends
Design trends have been moving toward simple, clean lines, an organic approach and a relaxed look overall. Flat screen TVs, laptop computers and other technology have changed the need for heavy, deep pieces.

Even small changes reap rewards
A small decorating project can make a significant difference. Interior design, whether a top-to-bottom makeover or simply a room refresh, gives sellers an ideal opportunity to make a strong first impression.

© 2012 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

Housing Affordability Was the Highest Ever in First Quarter of 2012!

WASHINGTON – May 17, 2012 – Housing affordability reached a milestone in the first quarter, according to the National Association of Realtors® (NAR).

NAR’s composite quarterly Housing Affordability Index rose to a record high of 205.9 in the first quarter of 2012. The Index provides a quick look at affordability and is calculated by the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power.

The first quarter marks the first time the quarterly index broke the 200 mark since NAR recordkeeping began in 1970.

“For those with good credit, we’ve never seen better housing affordability conditions or market opportunities than we see at present,” says NAR President Moe Veissi, broker-owner of Veissi & Associates Inc. in Miami and 2002 president of Florida Realtors.

Veissi thinks things could be even better if lending standards would return to normal.

“Although home prices are stabilizing and sales are rising, some buyers still have to jump through a lot of hoops to convince a lender that they are creditworthy, even for a mortgage that would be well within their means,” he says. “This is especially true for self-employed buyers.”

The index finds that a median-income family, earning just under $61,000, could afford a home costing $325,500 in the first quarter – more than double the national median existing single-family home price of $158,100. The median monthly mortgage principal and interest payment for a median-priced home would take only 13.5 percent of gross income.

A companion index measuring the ability of first-time buyers to purchase a home also set a record, with the first-time buyer index reaching 135.8 in the first quarter. Assumptions for the first-time buyer index include a lower income, at 65 percent of median family income, a starter home costing 85 percent of the median price, and a downpayment of 10 percent. In the first quarter, the typical entry-level buyer could afford a home costing $182,500, which is well above the overall median price.

“It’s never been easy to buy a first home because of the cash required for downpayment and closing costs, but conditions for first-time buyers who are able to get a mortgage have never been better,” Veissi says.

Most first-time buyers choose a loan with a lower downpayment, often an FHA-insured loan with 3.5 percent down, and some use the VA program with no downpayment.

Both home prices and mortgage interest rates are expected to edge up modestly as the year progresses, but housing affordability will remain very favorable with the median-income household well positioned to afford a median-priced home. For all of 2012, the index is projected to set an annual record, averaging 191 for the year.

© 2012 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

Average Mortgage Interest Rates Drop to New Lows - Now just 3.79%

Today, 5/17/2012, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgages was 3.79%, down from 3.83% last week. The average interest rate for 15 year fixed-rate mortgages was 3.04%, down from 3.05% from last week. A year ago the 30 year rate was 4.61%. One has to wonder just how low they can drop and, even more importantly, how many of you will be able to lock in these low rates and get that home you have been waiting for. Lower rates not only make it easier to buy a home, but also make it easier to sell one. I hope many of you are able to take advantage of these rates. At some point, they will go up! That is a certainty!

Conditions in Europe caused yields on Treasury bonds to drop and that force a corresponding fall in mortgage rates. Some positive news here in the US was that industtrial production rose 1.1% in April and that was the largest gain since December 2010. And consumer sentiment during our current month of May rose to its highest level since 2008!

Home construction finally took off a bit and in April was at an "annualized rate" of 717,000 units. This was much higher than had been predicted. Home builder confidence also increased as a result.

Just from a personal point of view, it is not a terrible thing that new homes are being built since that creates more employment and more consumers. However, we need to walk a fine line so that we do not add too many homes to a housing market already saturated with normal sales and those of distressed properties, ie short sales and foreclosures. We need at least a little upward pressure on prices to help keep them stable for sellers. But from what we see, these are still good signes that our economy is recovering. Let us all hope it continues!

The job report for April was weaker than expected. Then the economic news out of Europe was not very good since both Greece and France had elections that seemed to run counter to the steps that had been taken to improve their economic situations. Now, who knows what will happen there? Markets don't like uncertainty and bond yields decreased. Mortgage interest rates went in the same direction. At least gas prices seem to be coming down. That will be welcome news for motorists this summer.

Do keep in mind that we are a very large country, So figures that come out for the entire nation, may have little or no relevance for your particular area. In the end, it is best if you speak with a local REALTOR or financing expert to see what the situation is for your part of the United States. Florida is not Michigan, nor is Maine the same as California. Market conditions can be very different from place-to-place. Also, your own credit history, the property you want to buy, etc. will effect your specific loan options and interest rates. Your mortgage broker or bank loan officer can give you more specific information.

If you want to learn more about Freddie Mac or see the details of their survey, go to: www.freddiemac.com and click on the link for "Current Weekly Survey". They break down the survey by specific regions in the United States so you can see how your state compares to other parts of the country. They also explain the mission of Freddie Mac and offer a lot of useful information for consumers.

If you would like to speak with a lender you can find some at my website: www.jelwell.century21bnr.com . You can also speak with your own bank, credit union, or mortgage broker to see what your particular interest rate would be, should you decide to finance a home purchase.

I would also be happy to assist you in any way that I can. Just call JOHN ELWELL - REALTOR at CENTURY 21 Bill Nye Realty, Inc. : 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com You are also welcome at my webpage: www.jelwell.century21bnr.com  Licensed in Florida.

US Housing Market Finally Turning a Corner says The Demand Institute

NEW YORK – May 16, 2012 – Home values will start to climb again and related consumer industries will grow in 2012 and beyond as the U.S. housing market finally turns the corner, according to a new study released today by The Demand Institute, a new nonprofit, non-advocacy group formed in February by The Conference Board and Nielsen.

According to the Institute, the housing market recovery will have “far-reaching impacts in the coming years across the United States and international markets as U.S. consumers increase their spending on buying, renovating, furnishing and maintaining their homes.”

It also won’t be like earlier recoveries, the Institute suggests, with homestead owners leading the way. Instead, real estate investors buying rentals will supply the homebuying demand.

The Institute’s report, The Shifting Nature of U.S. Housing Demand, predicts that average home prices will increase by up to 1 percent in the second half of 2012. By 2014, home prices will increase by as much as 2.5 percent.

From 2015 to 2017, the study projects annual increases between 3 and 4 percent, though unevenly nationwide. The strongest markets “could capture average gains of 5 percent or more in the coming years.”

“In these initial years, the prime driver of recovery won’t be new home construction, but rather demand for rental properties,” says Louise Keely, chief research officer at The Demand Institute and a co-author of the report. “This is a remarkable change from previous recoveries. It is a measure of just how severe the Great Recession has been that such a wide swath of Americans had to delay, scale back, or put off entirely their dreams of homeownership.”

Bart van Ark, chief economist at The Conference Board and co-author of the report, says he doesn’t expect to see the homeownership rate to change.

“Over 80 percent of Americans in recent surveys still agree that buying a home is the best long-term investment they can make,” van Ark says. “What will be intriguing to watch is how their aspirations around homeownership are affected by this period of extended austerity.”

Between 2006 and 2011, some $7 trillion in American wealth was wiped out when home prices dropped 30 percent after dramatic climb in valuations during the housing bubble. Looking forward, the moderate growth expectations for coming years suggest a return to normalcy. As home prices continue to drop and interest rates fall further, first-time buyers and others who remained relatively cautious will be drawn back into the housing market. And, as the market recovers, so too will consumer spending.

“As the U.S. housing market strengthens, almost every consumer-facing industry will be impacted in the coming years,” said Mark Leiter, chairman of The Demand Institute. “Business and government leaders will benefit by fully understanding the nature of this recovery. In doing so they will be better able to anticipate how consumer demand will evolve, and to formulate critical business and policy decisions to lead their organizations.”

Key findings

In addition to the projected gains in home prices, the report discusses in detail the dynamics at work in the U.S. housing market and the impacts across industries. What follows are highlights from the report:

• The recovery will be led by demand from buyers for rental properties, rather than, as in previous cycles, demand from buyers acquiring new or existing properties for themselves. More than 50 percent of those planning to move in the next two years say they intend to rent.

• Young people and immigrants will lead the demand for rental properties. Developers and investors will fulfill it: developers by building multifamily homes for rent, and investors by buying foreclosed single-family properties for the same purpose.

• Rental demand will help clear the huge oversupply of existing homes for sale. In 2011, some 14 percent of all housing units were vacant, while almost 13 percent of mortgages were in foreclosure or delinquent – increases of 12 and 129 percent respectively over 2005 levels. It will take two to three years for this oversupply to be cleared, and at that point homeownership rates will rise and return to historical levels.

• The housing market recovery will not be uniform. Some states will see annual price gains of 5 percent or more. Others will not recover for many years. The deciding factors will include the level of foreclosed inventory and rates of unemployment.

• There will also be vast differences within states. Here, additional factors count, such as whether local amenities, including access to public transport, are within walking distance of homes. The report looks at seven factors and then sorts cities and towns into four categories, with each category predicting the speed of a local home price recovery.

• The average size of the American home will shrink. Many baby boomers who delayed retirement for financial reasons during the recession will downsize. They will not be alone. Most Americans will scale back their housing aspirations. The size of an average new home is expected to continue to fall, reaching mid-1990s levels by 2015.

• Consumer industries including financial services, home furnishings and home remodeling will experience shifts in demand and new growth opportunities. Part of this spending is linked to increases in wealth from improving home valuations, while an even bigger part is tied to the “transaction” of buying or selling the home which sets in motion increased demand for a wide range of products and services.

• Despite the number of Americans who have been hurt financially by the housing crash, the desire to own a home remains strong. The Institute doesn’t expect to see a long-term drop in ownership rates.

© 2012 Florida Realtors®
Reprinted with permission. Florida Realtors®. All rights reserved.

New Low Price on 2 Bedroom/2 Bath Furnished Double-Wide Mobile For Sale in Zephyr Shores near Zephyrhills, FL

 

This 2 bedroom/2 bath furnished mobile home is located just west of Zephyrhills, FL in the popular Zephyr Shores subdivision. This is no rental park. You own the lots here! Its convenient location will make trips to the supermarket, restaurants, pharmacies, parks, medical facilities, home centers, and the City of Tampa a breeze!

 

This residence is very comfortable and can easily serve as your vacation oasis or a year-round spot to hang your hat. The interior space is very well utilized. The kitchen, dining area and living room flow easily together. And just off the living room is a light & bright Florida room that has been finished off. It even has its own separate air-conditioning unit. Cleaning will be "a snap" with this unit's easy to maintain laminate flooring. Both bedrooms have walk-in closets so storage will not be a problem.

 

Outside there is a carport, an open covered patio, a spacious screened lanai, a utility/laundry room, and a detached utility shed. Not to mention that this lot is larger than those in many other mobile home subdivisions. This home has it all at a very modest price.

 

Your low homeowners association fees give you access to the recreation building, swimming pool, and shuffleboard courts. They even cover your trash pick-up twice a week! And the home is just a minute's walk away from beautiful Six Mile Pond. Sorry, no pet dogs permitted here, but you may have 1 housecat.

 

 

Call today for more information or to arrange a tour of this home. Now just $41,000 I am sure you will like what you see! John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. Tel: 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com I also invite you to stop by my main real estate webpage at: www.jelwell.century21bnr.com

 

 

Click on any of the pictures below to see a larger version.

Happy Mothers' Day to My Friends in Zephyrhills, Florida, and around the Country!

In Spain, where I lived for 12 wonderful years, they celebrate Mothers' Day two weeks ahead of us here in the USA. But the sentiments are the same. To show appreciation to those women, without whom, none of us would be here.

If your mother is still living, give her a call to let her know you are thinking of her on this special day. And if she is no longer with you, take a second to conjure up one special memory you have of her. I think most of us have at least one special moment that keeps our mothers alive in our hearts no matter what. I can still remember mine dressing me up as an elf for our kindergarten play over 50 years ago.

So, give the ladies their due on this very special Mothers' (and Grandmothers') Day! They will appreciate it, without a doubt!

John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444

Licensed in Florida

Thanks to my friend Rick Wing for the great floral picture!

Mobile Homes For Sale with Land in Zephyrhills, Florida as of May 12, 2012

Want to find a place where you can escape winter's icy blasts? Well, Zephyrhills, Florida might be just the perfect corner of the USA where you can find a refuge from the snowing and blowing.

To assist you, I am attaching an updated Adobe PDF file to this post of the mobile homes that are currently available for purchase here as of May 12, 2012. Keep in mind that, depending on when you see this page, some of the listed homes may have been sold (especially if it is a very old post). If that happens, call me at the numbers below, and I can send you an updated list. No problem!

Also keep in mind that these mobile homes include the land under them. They are not on rental lots and are purchased with fee simple, condominium, or cooperative ownership.

All you have to do is click on the following link to download the pages that you can view and/or print: Download Mobile Homes for Sale as of May 12, 2012  They are listed from lowest price to highest. If you just want to see them on your computer, increase the view to 100% at the top of the screen so you can see them better. If you want to print them, then click on the PRINT BUTTON, and they should print up "full-page view" automatically. The arrows on the page will move you to the next or the previous page of listings. Usually, there are many to look at.

Keep in mind these homes are from our own CENTURY 21 Bill Nye Realty, Inc. inventory, and that I can also e-mail you listings from other companies via our Multiple Listing Service (MLS). Just let me know what your requirements are.

I can even set up an auto-notification system so you will get immediate messages when a new listing comes on the market that meets your needs! Convenient, right? Also do not forget that these homes include the lots under them. They are not located in rental parks.

Some of these homes may be in registered 55+ Housing subdivisions. To check this out, you can visit the State of Florida's 55+ Registry page. Just click on the following link for information direct from the state: http://fchr.state.fl.us/housing_directory/search/Pasco/County  You can also call me for questions on this issue.

If you would like to contact me about these or any other homes, you can call me at: 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com

You are also welcome to visit my main webpage at: http://www.jelwell.century21bnr.com/

John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. Licensed in Florida.