Stuart, Florida Real Estate - Harvey Schneider

Real Estate

Buying A Home

Selling Your Home

Stuart Florida Real Estate News

December 13 2011

Changing reality of Florida real estate

ORLANDO, Fla. – Dec. 12th, 2011 -- Sometimes what people think may be happening and what is actually occurring in the real estate market does not coincide. So let’s look at the facts, and hear what some experts in the field have to say about Florida’s economy and real estate.

At the recent Florida Realtors’ 2012 Real Estate and Economic Forecast Conference, Chief Economist Dr. John Tuccillo stressed the slow but steady upward trends in Florida housing and employment, both of which have been overlooked. With prices at attractive levels, investors are back in the market and the distressed property market has stabilized. International demand has risen over the last year, adding to the positive trends in Florida real estate. Realtor panelist Clark Toole agreed, citing the increases in population and employment as positive drivers for the state’s economy.

In Florida and nationwide, restrictions on credit have slowed the real estate market’s recovery. While the average credit scores of approved loans under “normal” circumstances are around 720, in 2009 and 2010 the average was around 760. Easing credit conditions to “normal” could increase sales 15-20% higher. Dr. Lawrence Yun, NAR chief economist, shared his belief that there will be a 10% price increase in South Florida as bargain hunters and foreign buyers boost sales – taking advantage of prices that are too good to pass up.

Even experts outside the industry agree that Florida should have positive growth in 2012. While Florida employment growth has been weak and its recovery sluggish, Mark Vitner, senior economist at Wells Fargo, also had encouraging remarks on the state. He pinpointed tourism and healthcare as leaders in the employment recovery. International visitors to Florida’s many vacation destinations have boosted tourism, while concurrently stepping up as investors in the state’s housing market. Vitner indicated specific areas in the state where prices have bottomed-out and employment has turned around.

The Florida recovery is a marathon, not a sprint. Although the pace is frustrating at times, this slow and steady improvement is good for Florida. The state is moving in the right direction. Realtors can encourage positive thinking about the real estate market with their clients and back up their case with the facts. The national consumer sentiment number of 67.7 beat last month’s 64.1 and the analysts’ forecast, showcasing that consumers’ attitudes are brighter across the U.S. Consumer sentiment has improved each of the last four months. As perceptions shift to better match reality, sales and your business should change for the better.

December 12 2011- What will be the new home size in 2015?

Members of the National Association of Home Builders (NAHB) were asked earlier this year what they anticipate the new home size will be 2015. While the size of new American homes has been shrinking for years, the builders offered some insights into what home features will start to disappear and which will become more popular.

In terms of square footage, the anticipated drop isn’t drastic. Currently, single-family homes measure an average of 2,400 square feet, a slight decrease from an average of around 2,521 square feet five years ago. In 2015, industry professionals believe it will drop to around 2,150 square feet.

To make up for less square footage, many new homes won’t have living rooms. Of the builders surveyed, 52 percent believe traditional living rooms will be combined into other areas of the home, such as family rooms and kitchens, to form “great rooms.” About 30 percent of builders believe the living room will vanish entirely.

Also likely to become less in demand by 2015? Mudrooms, formal dining rooms, skylights, sunrooms, three-season porches, media rooms, butler ‘s pantries, and homes exceeding four bedrooms and three bathrooms.

However, surveyed builders expect to see more ceiling fans, larger laundry rooms, eat-in kitchens, first-floor master suites with walk-in closets, kitchens with double sinks and recessed lighting. And while two-car garages won’t go anywhere, demand will probably sink for three-car garages.

Sixty-eight percent of builders surveyed say that energy-saving technologies and features including low-E windows, energy-efficient appliances and LED lighting will be common, along with other green features, such as engineered wood products, dual-flush toilets and low-flow faucets. Whole-house Energy Star certification is likely to become the norm for new homes in 2015, but LEED certification will not. Green features considered “somewhat likely” to be in new homes include argon windows, tankless water heaters, above-code insulation, and solar photovoltaic and thermal systems.

November 21 2011

The latest data released bu the Florida Realtors Association shows that the states existing home and condominium sales continued to show gains. Exisitng homes sales are up 13% and exisitng condominiums sales are up 12% from October 2010.

November 17 2011

The developer (Tricon Development) of a 54-unit condominium in Fort Pierce (South Beach) has been granted its fourth one-year extension extension of site plan approval for Ocean Park condominiums from the Fort Pierce City Commission.

November 14 2011

New Hutchinson Island Listing: $239,000- View Hutchinson House Visual Tour B-102

Hutchinson House is an ocean to river community offering the best of both worlds. This immaculate updated 2/2 riverside condominium with beach access right across the street is a showplace. Upgrades include, 18 inch tile in every room,wood cabinetry with a rope inlay in the kitchen and bathrooms, with neutral Corian surfaces, etched glass impact front door,glass enclosed patio with impact sliding glass doors that is also screened. Tastefully furnished! Turn key!!

November 10 2011

As reported by the Realtor Association of Martin County: September News Letter 2011

At the end of September the average sales price of a single family home that sold in Martin County in September 2011 was $272,362 up from September 2010 which the average sale was $212,063. The total inventory for sale decreased from 1,816 in 2010 to to 1,365 2011. The most transactions were sold between $100,000 and $199,999

At the end of September the average sales price of a condominium that sold in Martin County in September 2011 was $170,158,000 up from $133,130 in September 2010. The total inventory for sale decreased from 777 in 2010 to 623 in 2011. The most transactions were sold between $100,000 and $199,999