55+ People are on the move

The time of waiting is over for these homeowners. The people that are 55 and older stayed in their homes during the last years. During the recession and the financial crisis the house lost a big portion of its market value. When you as a homeowner have a mortgage on your property that exceeds the market value of your home you would have realized that loss and maybe have jeopardized your retirement funds. In case you as a homeowner had already paid off your mortgage and you have only equity in the home it would have been wise to sell the home either because the sale proceeds would have been much less than today.

Now it is time to make the move and sell their property. The market statistics show that movement clearly. The home sales in this specific market segment have increased by 5 points to 58 % during the last year and it is expected that this trend will last.

However, when these elder people sell their homes they need to move to a different home – either a smaller single family home or a condominium. This movement creates a demand either for a purchase or for a lease of a property in a 55+ community.

This particular market segment is constantly growing. This demographic segment of retirees and pre-retirement increases because the people are much healthier and they live longer. The live expectancy is in average 79 years and is moving upwards. All these people need a home for this portion of their lives and that makes this senior market segment very attractive for developers that focus on elder people housing projects.

You want to know more? Please contact us at andrea@florida-informations.com

Homeownership seems to rebound

At the end of 2014 the homeownership in the United States was only 63.9 %. That is the lowest rate since 1994. However, in comparison to other countries such a rate is high. The homeownership rate in Germany for example is below 50 %.

The reason for this low homeownership in the US is the mortgage crisis that led to the housing meltdown and the massive foreclosure wave. During this housing downturn many homeowners lost their property because they could not afford their home any longer and had to move back in with their parents. That means that under one roof sometimes live two or three families together – the parents and the son and/or daughter with their family. Depending on the size of the house that can be tough.

Since the economy is recovering and the job market offers new opportunity these households have a new change to get on their feet and buy a new home. While they were living with their parents these potential home buyers had the time to save some money for the down payment of their new home and could repair their damaged credit records.

These home buyers are today in a better financial position when they apply for a loan and the lenders are also on their way to make loans more affordable. The lenders know if they do not give loans they will not make money therefore they will help home buyers to qualify for a loan.

As an international buyer you should keep in mind, that you have to buy now before these new US buyers hit the market and you are in the competition with these homeowners.

You will find valuable information about an international real estate purchase in this book

Or you can contact us at andrea@florida-informations.com.

Florida’s Coasts are safe from Oil Drilling

That is big and important news for Florida. The Sunshine State Florida is one of the biggest vacation destinations in the United States and the most valuable treasures in Florida are the clean beaches. The government has decided to ban the off shore drilling at the Florida coasts until at least 2022.

During the oil spill in 2010 in the Gulf of Mexico many states in that region had big problems with the oil that harmed the animals and birds as well as the underwater and beach vegetation.

Florida was lucky at that time. We only had limited exposure to the oil spill in the northwest region of the state. However, we felt with the other states who had fight the consequences.

Affordable indoor updates that pay off at the sale

When you are thinking of selling your home because you need a bigger home or have to relocate due to your job, a little bit elbow grease can pay off at closing.

When you would like to get a good price for your home your first goal should be how to impress your future buyer without break the bank. There are easy things to do to achieve your goal and they do not cost only little money when you do it yourself.

You can start decluttering your home. You have to do it anyway when you move out therefore start this task as soon as you have made the decision to sell. That helps the potential buyer to feel at home right from the start.

Do some cosmetic updates in the kitchen and in the bathroom. That will also make a great impression. Fix dripping faucets or replace kitchen cabinet’s door knobs with new ones or the mirror in the bathroom.

Also a little bit painting with neutral colors in the kitchen or bathroom is an inexpensive option to boost your home value.

Last but not least do not forget to keep your yard nicely maintained, mow your lawn and cut the shrubbery and the potential home owners will stand in line to see your home and make you move.

For more updating tips send us an email at andrea@florida-informations.com

Outdoor Kitchen - Trendy in Florida

In many countries only indoor kitchens are known. In Florida this is different. In the State of Florida we have nice warm weather all year long and in the evenings we enjoy the smooth evening breeze in the backyard in the outdoor kitchen.

Such a kitchen is like the little sister of the indoor kitchen and it extends your house into the backyard. The kitchen has cooking and heating tops, a sink, a smaller fridge and preparing space like its big sister indoors.

The only difference is the main function of the outdoor kitchen: it is the socialized preparing of a meal for family and friends. Everybody in the yard can be included in this cooking experience. While the indoor kitchen is used as a storage area.

The only thing that is often missing in an outdoor kitchen is a pizza oven. However, despite that the outdoor kitchen trend is growing and it is a great feature for the sale of a home.

You want more information? Please contact us at
andrea@florida-informations.com   

55+ Real Estate Market is strong and healthy

In the United States real estate market there is a specific market segment that addresses the needs of elder persons and this market is strong and growing during the last years. This trend is expected to keep an upward trend for the future.

The demographic development shows that the population is getting steadily older and the people live longer. The children have left the homey nest and have children of their own. The group I am talking about are active people who are turning 55 and are now eligible to live in the age restricted communities. Such a market segment is not in every foreign country known and you cannot compare these complex with nursing homes. The owner of such a unit is living an active life and often belong to the active workforce in the region.

The existing units in these complexes change often quickly from one owner’s hand to the next. Therefore this market segment becomes more and more interesting for new construction developments and the developers are exploring their opportunities in this market.

The available properties in these communities – that can be a condominium or a small single family home – are in comparison to other properties very affordable. The maintenance fees in these communities are moderate. The community complexes are mostly central located and have shuttle bus services to all important place in the municipality. In the 55+ community itself there are many amenities available that make the active life of its residents very pleasant. These communities have often entertainment centers with dancing events or music performance, tennis, golf and several pool areas indoor and outdoor and much more for everyone. 

When you are interested in such a unit you can contact us at
andrea@florida-informations.com  

The housing market in Florida is back

Finally the recovery of the real estate market has reached the normal balanced market trend. A balanced real estate market in Florida is an inventory of 5 to 6 months. That means the new listing number is higher than the sale number and the available properties in the market would be sold in the next few months.

The available market data also show that after the rapid home price increase in 2013 this trend goes back to a normal level of 4 to 5 % annually. Based on the moderate price increase the home buying and flipping of house is no longer attractive for some investors in the market and their engagement is declining. The foreclosure rate is also on a low level and the shadow inventory that comes with this kind of real estate action is falling.

The new construction is showing an upward trend especially in south east Florida where most of the international buyers are making their real estate investments. The international buyers have a strong market position in the sales numbers.  

There are still good deals in this real estate market. However, you have to make your move now when you are interested in a good purchase deal.

For more you can contact us at andrea@florida-informations.com