Real Estate Insider Blog

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20
Jun
2017

WHAT'S THE ECONOMIC FORECAST?

DENVER — “This is going to be the longest economic expansion in the post-World-War-II era,” stated Kevin Thorpe, the global chief economist at Cushman & Wakefield.

He was giving an assessment to a crowd of reporters at the National Association of Real Estate Editors conference, and the general message was one of growth — not risk.
 

Recession?

“The U.S. will not be going into recessions anytime soon,” Thorpe said.

“Recessions don’t just happen,” he added. “First we need to see imbalances somewhere in the economy — too much credit, too much exuberance in any particular sector.” Equity markets, oil prices, what the Federal Reserve does with interest rates and “wild cards” could change that, of course, but in general, Thorpe was confident that the economy is strong and will remain so for the immediate future.

“Of course there will be another recession at some point, and the next question becomes ‘What will the next recession look like?'”

In Thorpe’s opinion, it won’t look as gnarly as the last one. “It’s not likely to be nearly as severe as the one we went through in 2008-2009,” he noted. “Big recessions don’t happen very often; every 50 years seems to be the pattern. The next recession is probably more likely to be a traditional recession, with two to three quarters of job...

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06
Jun
2017

Tampa Bay area home prices continue to soar

Sales of Tampa Bay homes dropped in April but prices surged yet again as Florida's real estate market continued to be defined by tight supply and high demand.

Compared to the same month last year, the median price for a single family home rose 12.5 percent here, the most of any major metro area in the state.

But despite that increase and Tampa Bay's most expensive residential sale ever — $11.18 million for Clearwater's Century Oaks estate — there was a hint that the pace of price growth may be slowing just a bit.

In Hillsborough, Pasco and Hernando counties, year-over-year median prices in April rose less than they had in February and March. Pasco's price gain was the lowest in a year, though still a healthy 10 percent.

Buyers shouldn't get too excited, though.

"I think that was probably a momentary blip," said Jeff Shelton, a Coldwell Banker agent in Tampa. "The Tampa Bay market is still one of the top real estate markets in the country."

It's becoming a familiar story: Too many buyers chasing too few homes. All four bay area counties had a tighter inventory of available houses in April than they did a year earlier — and April 2016 was a tight month, too.

"I personally have had to start knocking on doors," said Shelton, who with partner Mike Hughes is among Hillsborough's top-selling agents. "When I have a client who asks me about a particular property, I can go directly...

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01
Jun
2017

HOW TO PREPARE FOR SELLING YOUR HOME

As I write this blog ... there were 964 homes listed for sale in Clearwater on the MLS. So if you wish to sell your home and have it stand out from the crowd, it won't do to simply throw a sign out in the yard and hope for the best. The goal in a home sale is to get the best possible price while minimizing time on market and aggravation. In order to accomplish this, proper preparation is a must. Here are the things you can do to prepare your Clearwater home to be sold in a short period of time.
 

Landscape and Exterior

First impressions mean everything and prospective buyers must at least get through the front door or nothing will happen. Take some time to freshen up your home's exterior and landscaping to improve its curb appeal. Get rid of dead plants and replace them with fresh shrubs and flowers. Make sure that the grass is green and well-trimmed. Pressure wash the driveway and the home's exterior to vanquish years of dirt and grime. If you wish to go the extra mile and your home's exterior needs it, consider a fresh coat of paint.
 

Declutter and Clean

When someone steps in to view a home for the first time, it should feel clean and inviting. The stacks of shoes that you normally keep by the door need to disappear. Likewise, personal items and any other clutter in the home should be removed. Homebuyers will be looking to your floors, ceilings, and walls first. If they are unable to see these because of clutter, the...

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