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Thursday, April 05, 2018   /   by Andy Mandel

New Listing: 8820 NW 17 Street, Coral Springs, FL 33071

Fully updated waterfront home in Feathertree section of Ramblewood. NO HOA! Brand new flooring throughout the living areas, beautiful white kitchen w/ quartz countertops, & 2.5 REMODELED bathrooms. Vaulted ceilings w/ exposed beams in the XXL family room give this house a custom look with great character. Covered patio is great for BBQs & outdoor enjoyment. HUGE garage with tons of storage. Master bedroom features his/hers closets & cabana bath. Accordion shutters for low insurance! Roof replaced 2008! Call Listing Agent Andy mandel with REMAX for a private showing. 954-610-0563

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Thursday, April 05, 2018   /   by Andy Mandel

Millennials Spend Nearly $100,000 on Rent by Age 30

Forty-five percent. That’s the percentage of an average millennial’s income that they’ll spend on rent between the ages of 22 and 30, according to a new study by RENTCafé. That definitely sounds like a lot—as does the $92,600 total amount they spend on rent during that time—but let’s add some context to the raw figure. How does this rent burden compare to that of previous generations?
RENTCafé’s study mined U.S. Census data to determine the each generation’s average income and rent burden during that eight-year window leading up to age 30. As their report states, “we looked at the average income representative for the ages analyzed, rather than the average income of the overall population, because people in their 20s, with limited experience in the workforce, typically have a lower income than those over 40 who are at the peak of their careers.” The data refers to single people paying the rent by themse ...

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  buyer, rent

Tuesday, March 27, 2018   /   by Andy Mandel

Buyer Demand Still Outpacing the Supply of Homes for Sale

The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand
The map below was created after asking the question: “How would you rate buyer traffic in your area?”
The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.

Seller Supply
The index also asked: “How would you rate seller traffic in your area?”
As you can see from the map below, 25 states reported ‘weak’ seller traffic, 21 states reported ‘stable’ seller traffic, 3 states and Washin ...

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  buyer, seller, home value, market update

Thursday, March 22, 2018   /   by Andy Mandel

Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices

Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year.
Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect supply. From the report:

“For current homeowners, the decision to buy a new home is typically linked to their decision to sell their current home… Because of this link, the financing costs of the existing mortgage are part of the homeowner’s decision of whether and when to move. Once financing costs for a new mortgage rise above the rate borrowers are paying for their current mortgage, borrowers would have to give up below-ma ...

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  buy, buyer, market update

Tuesday, March 13, 2018   /   by Andy Mandel

Home Prices: The Difference 5 Years Makes

The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.


One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared.


Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking out the data by state,


“Homeowners in the United States experienced a run-up in prices from the early 2000s to 2006, and then saw the trend reverse with steady declines through 2011. After finally reaching bottom in 2011, home prices began a slow rise back to where we are now.


Greater demand and lower supply – as well as booming job ...

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  buy, buyer, seller, home value, rent, market update