The snowbird lifestyle, traditionally popular among retirees, has expanded its appeal in the post-pandemic era, thanks to the rise of full-time remote work. This shift allows individuals of various ages to divide their time between two different cities or locales, typically seeking warmer climates during the winter months, especially for those residing in the northern parts of the country.
Buying a home can be a stressful experience, and it can be even more so when you are working with a builder on a new construction project. Florida Realtors has put together the infographic below regarding items to think about before choosing a homebuilder. Based on my experience, utilizing a real estate professional for new construction can be even more important than when buying an existing home. The amount of interaction I have had with home builders to help give my clients (and the builders) peace of mind has been massive over the years.
The single-family home market in Manatee County is continuing to move in a healthy direction. Both inventory and sales volume are up over 10% year-on-year. With inventory rising somewhat quicker than sales, we are in a position of having inventory at over three months of sales. As we are in our busy season, it couldn’t come at a better time. The market still favors sellers a bit, but it is balanced enough to give both buyers and sellers negotiating leverage. The infographic below from Florida Realtors gives more details.
As we adapt to the new mortgage interest rate landscape in 2024, it’s anticipated that many homeowners will focus on renovating their existing homes. This approach allows them to retain their low mortgage rates while enhancing the comfort, livability, and convenience of their properties. Below are key home improvement trends to watch for in 2024:
In-Law Suites: With the trend of not purchasing larger homes, adding spaces for in-laws, adult children, or even nannies is gaining momentum. Homeowners are exploring various options such as accessory dwelling units (ADUs), guest houses, or garage apartments to expand their living spaces.
It was good to see continued year on year growth in single-family home transactions in Manatee County in November. Further, as inventory grew at a slightly higher pace, the market continues to look like it is in balance heading into our busy season in Florida. It is still a reasonable time to be either a buyer or seller, but a little patience goes a long way in this market. The infographic below from Florida Realtors has more information.
