Herald Tribune Home Front
RE/MAX Alliance Group Broker/Owner and President Peter Crowley is a contributer to the Real Estate section of the Herald Tribune.
August 22, 2022 - Perspective on recent shifts in local real estate market
It’s important to put current real estate statistics into some perspective to understand what is really happening in our local real estate market throughout Southwest Florida. Fortunately, the foundation of our local housing market is on much stronger footing with close to 50% of sales being paid in cash. The remaining financed buyers are doing so with stringent underwriting guidelines and significantly more down payments (“skin in the game”).
Read Full ArticleJune 26, 2022 - Best to trust a pro for post-sale occupancy agreements
The inventory of available homes for sale still remains historically low. As a result, post-occupancy agreements with prospective buyers occupying the home prior to the actual closing, are far more frequently used by buyers and sellers than in a balanced market.
Read Full ArticleMay 1, 2022 - Signs the residential market is starting to shift
For the first time since the pandemic began, we are witnessing a noticeable change in the demand side of the housing equation. What we have experienced to date is the shift from a “white hot” seller’s market to a “strong” seller’s market.
Read Full ArticleMarch 6, 2022 - Possible impacts on US housing market from invasion of Ukraine
While the scale of the conflict in Ukraine is still uncertain, the economic impacts that are already rippling through the global economy may begin to be felt in the real estate sector as well. Increased pressure on oil prices will certainly contribute to the inflationary environment that we have been experiencing since the pandemic started. Our area is still attracting new visitors and new residents at a record level which will continue to contribute to a healthy demand for real estate.
Read Full ArticleJanuary 9, 2022 - What’s in store this year in residential real estate?
“Will this hot real estate market continue in 2022?” Everyone seems eager to call an end to the wild ride that our local (and in most parts, national) real estate market has experienced. I think most of the same economic factors driving our real estate market will continue for the foreseeable future.
Read Full ArticleNovember 14, 2021 - Zillow is out of the home-buying business
Zillow sent a shock wave through the real estate industry when it announced that it was exiting the home-flipping market and terminating its Zillow Offers program. Analysis of Zillow’s property portfolio demonstrated that it was overpaying for properties (a win for some sellers) but eventually listing and selling those properties at a loss.
Read Full ArticleSeptember 19, 2021 - Real estate investors – friend or foe?
Since the recovery of the 2008 housing crash, a new type of investor has entered the scene – the institutional investor (often referred to as “iBuyers”). If you turn on your TV, you would think that these institutional investors are dominating the market – with promises of quick sales, fast cash, etc. Even with the flurry of advertisements and increased capitalization, the institutional investors still represent a very small portion of the overall real estate market (1%-3%).
Read Full ArticleAugust 22, 2021 - Artificial intelligence entering the real estate landscape
Technology plays an ever increasing role in the real estate industry, from the initial online search, to the contract, to the closing, technology touches every aspect of the real estate transaction. Home buyers and sellers are utilizing the skills and guidance from real estate professionals at record levels as technology has enabled them to be more efficient and proficient at their job and service customers at an even higher level.
Read Full ArticleJuly 25, 2021 - Why do I need title insurance?
If you are financing your home, your lender will require a lender’s title policy to insure that their security interest in your property (the mortgage) is in superior position to anyone else that may claim an interest in your property. For cash sales, an owner’s title policy will protect the owner for similar undiscovered liens or encumbrances that may impact the owner’s ability to use their property as they intended.
Read Full ArticleJune 27, 2021 - Will high construction costs persist?
Is there an end in sight to the skyrocketing costs for new construction? It has been well documented that the costs for supplies for new construction have risen steadily since the pandemic. As more workers return to work and mills begin to operate at full capacity, the production of lumber is increasing and some of the demand from stimulus driven remodeling projects has dampened, thus bringing the supply and demand curve closer to some semblance of normal.
Read Full ArticleMay 30, 2021 - Don't let your guard down when it comes to wire fraud.
The real estate industry (Realtors, lenders, title companies) is keenly aware of the risks associated with wire fraud. Locally, wire fraud has occurred on real estate transactions with significant financial loss in almost every situation. Due to the heightened awareness of real estate professionals, even more attempts at wire fraud have been identified and thwarted prior to the initiation of the wire to a fraudulent account.
Read Full ArticleMay 2, 2021 - Let the Pros Help You Navigate Multiple Offer Scenario
If you are an active buyer in today’s real estate market, you have likely experienced the frustration of losing out in a multiple offer situation on your potential dream home. All hope is not lost, however, if you equip yourself with some knowledge, persistence and patience.
Read Full ArticleApril 4, 2021 - Down Payments Should Not Be Hurdle To Home Ownership
There are various lending programs designed to allow qualified borrowers the opportunity to finance up to 100% of the purchase price.
Read Full ArticleMarch 7, 2021 - Knock Identifies Need In Market
Knock is a lending company that combines conventional financing along with a form of a bridge load for sellers.
Read Full ArticleJanuary 24, 2021 - Hot Market Not Sign Of Housing Bubble
While home prices have climbed at an accelerated pace, this is driven almost entirely by the economic principle of supply and demand.
Read Full ArticleDecember 17, 2020 - Real Estate Has Adapted to COVID-19.
Record low interested rates coupled with shifting demographic trends from COVID-19 fuels increasing demand in the local residential real estate market.
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