In a year that was financially devastating for many Americans, some good news for most homeowners is the dramatic gain in home equity over the last twelve months. Last week, CoreLogic released its 2020 3rd Quarter Homeowner Equity Insights report, which reveals four major findings:

  1. U.S. homeowners with mortgages have seen their equity increase by a total of $1 trillion since the third quarter of 2019.
  2. The average homeowner gained approximately $17,000 in equity over the past year.
  3. This is a 10.8% increase in equity over last year.
  4. The average household with a mortgage now has $194,000 in home equity.

This has given many homeowners the ability to redesign their homes to meet their changing needs. Frank Martell, President and…

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This year will be remembered for many reasons, and optimism is one thing that’s been in short supply since the spring. We’re experiencing a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. The challenges brought on by the health crisis have also forced many homeowners to reevaluate their space and what they need in a home going into 2021. So, experts are forecasting that next year is one in which we can be optimistic about real estate for three key reasons.

1. The Economy Is Expected to Continue Improving

Tim Duy from the University of Oregon puts it this way:

“There is nothing fundamentally ‘broken’ in the economy that needs to heal…there was no obvious financial bubble driving…

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Education has always played a vital role in the growth and development of our children whether it be pre school, elementary or middle school. For some, high school is arguably the most important educational chapter as it has a heavy barring in the next steps of a young adult's life. From deciphering what career path to follow or post secondary institute to attending, alot is decided during the high school years.

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For more pictures, pricing, & info:   IMMACULATE & SPACIOUS 4 BEDROOM 2.5 BATH 2 CAR GARAGE. LARGE INGROUND POOL WITH WATERFALL IN POPULAR TURTLE RUN ESTATES. Completely renovated & professionally remodeled. Marble flooring in main living area, premium solid ¾” thick Mahogany flooring in bedrooms and office. All solid Mahogany wood stained interior doors. All new decorative molding throughout the house including crown moldings in every room and wainscoting raised moldings throughout the living areas and bedrooms. All closets are professionally done (arranged closets). Brand new beautiful Spanish tile roof, brand new…

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For pictures, pricing, & more info: BEST VALUE IN EAST BOCA! Perfect for first-time homebuyer or downsizers who want to live the East Boca lifestyle. FHA & VA offers accepted. A+ rated schools right down the street. This move-in-ready home is a tropical oasis. Featuring a large heated pool w/ spa & sun shelf (heater was just replaced in December 2020). Freshly painted inside & outside, brand new AC compressor installed in December 2020. Both bedrooms are generously sized w/ ample closet space. Updated bathrooms! Bring your finishing touches to this home and make it yours!

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Why It Makes Sense to Sell Your House This Holiday Season | MyKCM

If you’re one of the many homeowners thinking about taking your house off the market for the holidays, hang on. You definitely don’t want to miss the great selling opportunity you have right now. Here’s why this month is the optimal time to make sure your house is available for holiday buyers.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale has dropped to an astonishing all-time low. It now sits at a 2.5-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market, in which there are enough homes available for active buyers (See graph below):

When the supply of houses for sale is as low as it is…

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Are Home Prices Headed Toward Bubble Territory? | MyKCM

Talk of a housing bubble is beginning to crop up as home prices have appreciated at a rapid pace this year. This is understandable since the appreciation of residential real estate is well above historic annual averages. According to the Federal Housing Finance Agency (FHFA), annual appreciation since 1991 has averaged 3.8%. Here are the latest 2020 appreciation numbers from three reliable sources:

  • FHFA: 7.8%
  • CoreLogic: 7.3%
  • Case-Shiller: 7%

It’s easy to jump to the conclusion that house appreciation is out of control in today’s market. However, we need to put these numbers into context first.

Inflation and the Comeback from the Housing Crash

Following the housing crash, home values depreciated dramatically from…

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An Honest Look at Unemployment Numbers | MyKCM

Last Friday, the Bureau of Labor Statistics released the November Jobs Report. It revealed that, though headed in the right direction, the nation’s job recovery has slowed. The consensus reaction is best exemplified by a quote from Glassdoor Senior Economist, Daniel Zhao:

“We saw positive job gains, but I think the sentiment is largely negative because we know that we’re heading into a dark winter.”

There’s no doubt that millions of households have been - and continue to be -devastated by the economic downturn caused by the pandemic.

We should, however, put the current situation into perspective. Where we currently stand is much better than where most experts thought we would be at this time. Jed Kolko, Chief Economist of Indeed,…

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Hey, it's Andy with the Mandel Team at RE/MAX, and I'm here to bring you your December 2020 housing market update. As always for the purposes of this video, we're gonna be talking about single family homes only in Boca, Parkland and Coral Springs. Those are the areas where our team does the predominant amount of our business, and in Boca we're not talking about any country clubs or any 55 and over communities. So, all the ages, single family homes, no country clubs.

Now, in these videos, we wanna give you the leading indicators to show you where the real estate market is going to be headed in the next 30, 60, 90 days, not the lagging indicators like closed sales, which is indicative of what happened 30, 60, 90 days ago. These stats are gonna show…

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