Area Real Estate News & Market Trends


There has been a trend of parents of collegebound students to move to the towns where their kids will be attending school. The reasons for this are widely showing a savings of thousands of dollars once due diligence has been performed. The cost on in-state vs out of state tuition is most times nearly double which sometimes sends students to local community colleges or to their second or third choices of higher education. Other savings include campus housing, holiday transportation costs, or lesser costs that could add up such laundry, storage or in some cases food. However, it is a an important investment and should take time and research. Some of the details to consider are: talk to your high school student, consider the cost of living where you live, get your financial adviser's advice, open up a 529 college savings plan.


Sept. 29, 2023

Florida Homeowner's Insurance

    Tornadoes, flooding, hurricanes and tropical storms create a challenging market for insurance companies. The National Centers for Environmental Infromation shows that 20 extreme weather events impacted Florida between 2019 and 2023, costing an adjusted $239.5 billion. The risks of damages by storms to homeowners are passed on to policy holders in the form of the highest premiums in the country. Due to the increased risk of loss, many big names in homeowners' insurance, like Farmers, Banker's Insurance, Lexington and AAA, have withdrawn from the state, and smaller insurance providers have become insolvent. This leaves Floridians with less options such as Universal Insurance Holdings, State Farm Insurance, Tower Hill, and Citizens which is currently set to raise rates 14.2% this fall.


  • Shop for homeowners insurance well in advance of your closing date
  • Insure the home at its replacement cost, not market value
  • Negotiate the transfer of the current homeowners insurance policy
  • Consider the cost of additional insurance needs if buying in specialty hazard zones ie flood zones AE, etc.


  1. Claims free discounts
  2. New home discount
  3. Smart home discount
  4. Paid in full discount
Posted in Home Buying 101
Oct. 20, 2022

ARM's on the rise

As mortgage rates soar, homebuyers are seeking ARM's

  Mortgage rates have doubled since the beginning of the year and the soaring rates are giving some homebuyers affordability issues. A good number of buyers are looking at ARM's to help reduce monthly payments. 

An adjustable rate mortgage is a home loan with an interest rate that adjusts over time based on the market. They usually start with a lower introductory rate than fixed rate mortgages. After the initial period, your rate can fluctuate periodically which can make make it slightly more challenging to factor it into your budget.

The latest survey material from Freddie Mac highlights that the 30 year fixed mortgage rate rose 2 points from the previous week to 6.94% which is double from last year of just above 3%. The rate increase has adversely impacted the housing market by reducing demand.

So even though price growth has cooled and prices have began to come down, the high and seemingly higher to come interest rates means that many of today's buyers will face larger payments than if they purchased when housing prices were at their peak. As a result, we've seen ARM's rise in use in order to assist homebuyers get into their first homes.


Posted in Market Updates
Oct. 4, 2022

Rising mortgage rate impacts

Waiting for lower mortgage rates come with a cost!


Mortgage rates have been on the rise in recent weeks. This change in the market is having potential homebuyers facing  questions as to what they should do next and when they should do it. Here's a breakdown.

Basic economics

First, understand that there is an impact on the purchasing power as the interest rates continue to rise. What is purchasing power? Well, purchasing power is the value of the American dollar expressed in terms of the number of goods/services that someone can buy. And purchasing power can weaken over time due to inflation and that's because rising prices effectively lower the number of goods/services one can buy. What's inflation? Simply put, inflation is the general increase of the goods/services in the economy. It's the reason that a cup of coffee in 2010 costed $1.25 and now is nearly $2. Or why, a quarter cannot buy a stamp anymore. (yes I'm old enough to remember those times) Inflation does go down. For instance, gas prices fell 7.7%. But inflation does not end, it just gets less bad as The Federal Reserve aims for a target.

What this means for mortgage rates?

The National Association of Realtors reported that the median home price was around 389K. Let's say a house costs 400K and a buyer wants to keep their mortgage to $2600 or below. The purchasing power will change as the mortgage rates rise (see chart). Red shows payments above that threshold and the green indicates payments within that $2600 range.

When will rates decrease?

Homebuyers that are waiting for the rates to lower may find themselves waiting for a while as The Federal Reserve attempts to control inflation. Renters that think they are safe to wait it out should consider that 7% interest rate is better than 100% rate when home equity is factored into the homebuying equation. Because homebuyers can cash in on the equity in their homes but renters cannot. Also, the rise in rates has increased the rent prices which have seen the highest increases in about 40 years.

What makes more sense for you?

Each person's situation is different. Potential buyers should sit down and talk with a Realtor and the Realtor's mortgage broker team to discuss what are the homebuyers options.

Posted in Market Updates
Sept. 21, 2022

Reasons behind homeowners selling in today's market

Seller's Motivation to sell in today's market


   There are forces that are telling many homeowners to not sell their homes. One of the reasons behind not selling is the recent cooling off of the selling market. Sellers are seeing that recent home prices have dropped and when you couple that with buyer's belief that inflation is too high or more importantly interest rates are continuing to rise. It is understandable why buyers have slowed down making purchases. Some sellers believe that they should not sell in fear of losing the great interest rate they currently have on their homes. Some studies have shown that approximately 51% of current mortgagees have an interest rate under 4%. 

    But if you're thinking of selling it may be helpful for you to know what's driving others to sell in today's uncertain market. Below are the top 5 reasons people are selling based on a poll taken by

Want different features or amenities

  • Home no longer meets their needs
  • Need a home office to work
  • Want to be closer to loved ones
  • Want a smaller house that's less work

   Despite today's mortgage rates your lifestyle needs might just be enough to motivate you to change your mind about selling. The best way to find out what's best for you is to have a conversation with a trusted knowledgeable real estate professional who can provide guidance and expert advice on all your options.

Posted in Market Updates
Sept. 14, 2022

Homes selling for less than asking price

Market Trends


Real estate professionals use a sale-to-list ratio to help buyers and sellers get a sense of how to negotiate on price. The ratio is the final sale price or what a buyer pays for the home divided by the last list price expressed as a percentage. For example if the ratio is above 100%, the home sold for more than the list price. Inversely if it's less than 100%, the home sold for less than the list price.

The average home sold for less than it's asking price for the first time in about 17 months. For the first time since March 2021 that ratio has dropped as did the share of homes with a price drop which was at a record high. This comes as the share of listings with a price drop has started to even out.

What's not surprising is that despite the cooling of the housing market in regards to housing price drops- mortgage applications and pending sales both witnessed declines from the previous year. It's not a surprise because the reaction was expected due to buyers feeling the crunch of inflation and the interest rate hikes to 5.66% or even higher. Couple that with the fact the sellers are reluctant to enter the market and so the total inventory saw another steep decline. Sellers are advised to list at prices that are attractive to buyers to get their properties sold. 


Posted in Market Updates
July 31, 2017

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates