Monday, January 15, 2024 / by Richard Eimers
The persistent housing supply shortage has sparked speculation on whether homebuyers can expect more options in the coming year. NAR economist Yun is optimistic, anticipating that pent-up sellers, weary of waiting, will soon list their properties. He envisions a steady increase in listings and continued success in new home sales.
However, not all experts align with this view. Realtor.com economists forecast a potential 14% drop in inventory this year. The shortage is compounded by a decline in existing homes for sale and a significant drop in single-family housing starts in 2023 and 2022.
Despite the challenges, newly-built homes have played a crucial role, constituting one-third of all homes for sale in 2023—double the historical average. Yet, it's acknowledged that new construction alone won't bridge the inventory gap.
Chief Economist Mark Fleming from First American Financial Corporation highlights a U.S. shortfall of approximately one million homes. He suggests that condit ...
Monday, October 16, 2023 / by Richard Eimers
Most buyers or current owners considering a remodel don’t know how to do the work or who to trust with the task. To start, check licenses, credentials and public records.
FORT LAUDERDALE, Fla. – Question: We need a larger house for our growing family. Considering the price of houses lately, we decided to remodel and add a room rather than purchase something larger.
However, I am growing concerned about the process after speaking to friends. What should we look out for? – Danielle
Answer: Renovations are complicated, with many moving pieces where something can go wrong.
Your first task is to find the right professionals to work with. While many contractors and architects are talented professionals, not all are, so do your best to research them. Ask for references, and then call and speak with them. Check their licenses, credentials, and public records to see if there have been any problems.
Once you get past that hurdle, interview them. You will create a relat ...