Treasure Coast Real Estate Blog

Read Articles for Home Buyers and Sellers

Discover valuable resources to help you make informed decisions and achieve your real estate goals. Scroll down to access a variety of informative articles.

Treasure Coast Living

Our reports and essays cover staging, appraisals, market trends, and more. Check out our resources, or join our interest list to learn more about the Treasure Coast.

June 15, 2024

National Real Estate News

Real Estate Update
National news and local views for the week ending Friday, June 14, 2024

 

Eric Slifkin, Broker Associate

Welcome to this week's talking points on real estate market trends. As always, we are here to answer your questions and concerns about buying, selling, or renting a home on Florida's Treasure Coast.  -Eric Slifkin, Broker Associate

 

National Real Estate News

Inventory keeps climbing

The number of homes for sale increased to 788,000 in May 2024, a 35% rise from the previous year. However, the inventory is still 33% lower than pre-pandemic levels, and the increase is mainly in states like Florida and Texas. [Source: Realtor.com]

Mixed Job Picture

The latest BLS report shows that the US economy added 272,000 jobs in May, surpassing expectations. The job market remains resilient despite rising unemployment to 4.0% from 3.5% in July 2023. Despite high inflation, the Fed's decision not to cut rates further reinforces this confidence. [Source: BLS].

Fed does nothing again.

The Federal Reserve decided to maintain interest rates for the 7th consecutive meeting. Although average 30-year mortgage rates dipped slightly in May, they still hover around 7%, affecting affordability and transaction volumes during the critical spring/summer selling season. [Source: Federal Reserve, Mortgage News Daily]

Local Housing Market Stats

 

Contact us today! Thanks for visiting this week's talking points on real estate market trends. As always, we are here to answer your questions and concerns about buying, selling, or renting a home on Florida's Treasure Coast, and we are always happy to meet with you to discuss your wants and needs with no obligation. -Eric Slifkin, Broker Associate at Keller Williams Realty

Posted in News
May 11, 2024

Things to Consider Before Downsizing

Downsizing can help you save money and live a simpler life. It's a great option if you're tired of maintaining a large house and want to lighten your load. Whether your kids have left for college or you're looking for a way to avoid the chores and maintenance of a large house, downsizing can be a smart move toward a happier future.

Perks of Downsizing

If you are tired of maintaining a large house and want to move to a smaller place, downsizing could be a great option. It can help you save money and live with less. Downsizing is often considered by people with kids who have left for college, those who want to move closer to their friends and family, or those who want to buy a condo to avoid the chores and maintenance of a large house.

Downsize Your Home and Expenses

Scaling Down

Before you decide to downsize, you should consider a few things. Firstly, you need to determine whether you are ready to move and when you want to move. Secondly, you should have your home appraised to determine the potential proceeds from a sale. 

Thirdly, you should look for opportunities to relocate or buy a smaller home. Fourthly, you should research locations of active adult retirement communities. Lastly, you should estimate how much you can save in reduced housing costs and how much money you should spend. You can also consider possible additions to ease life in your home, such as an elevator or ADU (accessory dwelling unit).

Use Your Home Equity to Fuel Your Move

Tips for Downsizing

If you plan to downsize, here are some helpful tips to make the process easier.

  • Decluttering and selling unwanted stuff can help you make extra cash while creating more space.
  • Consider renting a storage unit to store things that you're not ready to part with.
  • Organizing donations can give you a sense of fulfillment and help you eliminate things you no longer need.
  • Embrace minimalism; it may be difficult, but it can also be liberating.
  • Remember to measure the space in your new home.
  • Be ruthless when deciding what to keep or get rid of.

These tips will help you simplify your life and maximize your new space.

Guide to Scaling Down Your Home

Contact us to schedule a free consultation. Whether you are buying or selling a home, we are always happy to meet with you to discuss your wants and needs without obligation.

May 10, 2024

Current & Future Real Estate Trends

Do you wonder what to expect from the Treasure Coast real estate market in 2024? Here's what you need to know:

Existing Home Sales should reach a sales rate exceeding 4.5 million in 2024. Lower mortgage rates will likely attract more buyers and sellers and increase listings and sales.

Market Trends

The Fed's interest rate policy is the main factor influencing the current marketplace. As the Fed has frequently changed rates, buyers have hesitated to make purchases, waiting for a return to lower rates. However, at some point, the desire to change their housing circumstances will overcome the wait for lower rates, as a return to rates in the 3% range is unlikely.

It is worth noting that rates have remained relatively high since the pandemic, and it would probably take another event like the pandemic to produce rates similar to that range. Over time, the percentage of people with a 3% range mortgage rate will decline, reducing the impact of the lock-in effect.

As for home prices, the real estate market is turning towards slow growth. While the number of homes available for sale was low in 2021 and 2022, it improved slightly in 2023 and 2024; we expect modest increases in the number of homes available for purchase, transaction count, and home prices, as well as a gradual recovery back to a regular market. It is important to remember that all real estate is local, and local market conditions may skew national statistics.

The supply of housing inventory will continue to affect home prices. The month's supply represents the amount of time it will take to sell the current inventory of homes based on the current sales rate. The supply is still well below the six-month supply, which is historically considered a balanced market. We haven't seen the supply exceed six months since the Great Recession. For home prices to decline significantly, the supply needs to spike.

Regarding mortgage rates, while rates may not be as low as 3%, we can still expect them to fall below what they are now. Rates did go up at the start of the year; they are anticipated to go down by the end of the year. With the Fed's recent pivot in policy, rates have dropped significantly since December. Rates will likely be in the 6% range, potentially dipping into the high 5% range.

Florida Treasure Coast Home Values

Finally, lower mortgage rates and new homes will lead to more new listings in 2024. While the inventory won't reach 2019 levels, inventory levels between 2019 and 2023 are a reasonable assumption.

In summary, moderating rates and an ongoing housing inventory shortage will affect home prices as supply increases and the real estate market turns towards slow growth. Things will get better, but they will get better slowly as we gradually return to a normalized market.

May 1, 2024

Palm City Living

Treasure Coast Top Communities

Palm City, Florida, is a beautiful bedroom community with a small-town feel perfect for people who love access to excellent schools, outdoor activities, and the town's central hangout spot, Panera Bread, which has become the town hall and a place where kids gather to do their homework. 

Palm City Home FinderDespite its great South Florida weather, excellent beaches, boating, and golf courses, this community's biggest draw is an indoor attraction: its top-rated schools, particularly elementary schools. 

Palm City maintains a small-town feel with leafy neighborhoods and wide sidewalks, making it a great location for outdoor enthusiasts. Families find the newer gated communities especially appealing, and the average home sales prices are lower than those in Palm Beach County. 

Palm City Homes for Sale

 

 

April 27, 2024

Treasure Coast MLS Listings

Recently Listed Homes by The Slifkin Team

Search all properties or sign up below to receive an email when we find new ones that suit your tastes! We'll notify you daily of new listings and price changes.

April 24, 2024

Buying a Home with Little or no Money Down

Tips for Homebuyers Searching for Mortgages with Less Than 20 Percent Down

When many people start buying a house, they assume putting 20 percent down is required. However, many lenders and mortgage brokers offer options for borrowers looking for mortgages with a small down payment. 

Get Pre-Approved for a Mortgage

Before researching mortgages, you’ll want to ensure you have a few things, including solid credit standing and a steady income. The options are out there and exist to make sure that people can buy and invest in real estate, even in today’s competitive housing market and tight credit environment.

Maintain a Strong Credit Score

A credit score is one of the first things lenders look at when determining who is a qualified borrower. Make payments on time, and remember that even small mistakes may take some time to clear from credit scores.

Look Beyond Your Local Banks:

There are many options available outside of traditional bank mortgages. Mortgage brokers offer a wide range of mortgage loans with zero down payments; an example is VA Loans. Veterans of the military and qualified retired veterans are eligible to use this benefit for a 100 percent loan. They also offer FHA loans to qualified borrowers for as little as 3.5 percent down. In rural areas, the U.S. Department of Agriculture offers low down payment options with financing to 100 percent. A good mortgage broker will have all of these options available and will have a variety of lenders to put these through to stay competitive in the market. And even conventional loans can do loans with a 5 percent down payment.

Document Income and Assets

Lenders look for a steady income and sufficient savings to ensure borrowers can meet monthly payments. Ensure all account statements are ready to establish proof of funds; lenders look for savings accounts that indicate the borrower can cover a few months of expenses. In addition, hold jobs for at least two years or within the same industry to demonstrate longevity and stability.

Be Prepared to Pay More Monthly

When you take out loans with limited funds, most will require some mortgage insurance to complete the loan. Conventional loans require Private Mortgage Insurance on loans to values above 80 percent. FHA loans have Mortgage Insurance on all their loans, and the VA only has a funding fee.

Explore Options

Select at least two lenders to be able to compare good-faith estimates. This allows you to look at two completely different options, which will help you talk to more than one source when looking for a mortgage. Before selecting any loan, thoroughly compare the fees, estimates, closing costs, etc.

Slifkin Team

Contact us today to schedule a free consultation. Whether you are buying or selling a home on the Treasure Coast, we are always happy to meet with you to discuss your wants and needs without obligation.

April 22, 2024

Where to Find Treasure Coast Homes

Are you searching for homes or condos for sale on the Treasure Coast this week? You're in luck! We provide a range of the finest properties available in the area. To begin your search, browse the latest Stuart, Martin County, and Port Saint Lucie homes for sale or explore all MLS listings from our regularly updated feeds. You'll find helpful information, including location, pictures, and viewing instructions. Don't hesitate any longer - start searching for your dream home or condo today!

Get This Week's Update

Where to Find Treasure Coast HomesCheck out Treasure Coast homes for sale this week. There are more new listings and more substantial price cuts. Don't miss out. Visit this week's update!

Contact us today to schedule a free consultation. Whether you are buying or selling a home on the Treasure Coast, we are always happy to meet with you to discuss your wants and needs without obligation.

April 22, 2024

Pricing Your Home to Sell

You must set the right asking price to sell your house quickly and profitably. Overpricing your home can turn away potential buyers, even in a seller's market. It is best to work with a real estate agent to determine your home's current market value. Setting the right price can attract more potential buyers, increasing your chances of a quick sale and maximizing your profits. Remember, buyers are often deterred by a home on the market for too long. Set the right price from the beginning to avoid potential issues.

Determining the Appropriate Sale Price for Your Home

Setting the right price for your home is crucial when selling it. Consider the current market, your home's condition, and your location.

Dangers of Overpricing

Factors That Affect Home Price

Download 5 Dangers Of Overpricing

Pricing your home right attracts buyers and offers, leading to negotiating the actual price. If you receive multiple offers, you can negotiate higher prices. Therefore, setting the right price for your home is essential to attract multiple offers. 

There are differing opinions on how to price a home for sale. Some believe in setting the price significantly higher than the local market value, anticipating that potential buyers will negotiate down to the actual value. Others prefer to price the home just above market value for a slightly higher sale price.

Pricing attracts buyers and offers, leading to negotiating the actual price. So it's essential to price your home for the market to generate a lot of buyer interest and, ultimately, many offers.

If you receive multiple offers, you can negotiate higher prices. As a seller, having many offers puts you in a favorable position. Setting the right price for your home is an essential factor in attracting multiple offers.

Home Pricing Tips

- Research the local real estate market to determine buyers' expectations.

- Consider your home's condition and location to come up with a fair price.

- Consult a real estate agent for a professional opinion on your home's worth.

Are you looking to sell? We can help by preparing a Comparative Market Analysis report and offering tips on pricing strategies and current market trends. Contact us today.

Slifkin Team

Contact us today to schedule a consultation. Whether you are buying or selling a home on the Treasure Coast, we are always happy to meet with you to discuss your wants and needs without obligation.

 

April 22, 2024

NAR Commission Settlement

Have you heard about upcoming changes in the real estate industry?

You may have seen news headlines recently about real estate agents and their commissions, and it can be confusing if you're keeping up with the discussions. However, what's important to understand is that the guidance and expertise provided by a reliable real estate agent are invaluable, particularly in today's world. Here's why:

Real estate agents provide invaluable guidance and expertise when buying or selling a home. They simplify complex processes, remove stress, and prioritize your best interests. A reliable agent delivers industry experience, provides expert local knowledge, explains pricing and market value, reviews contracts and fine print and negotiates on your behalf. They are specialists, educators, and negotiators who keep you informed and adjust to market changes. Choose an expert agent to help you make confident decisions on your home-buying journey.

What You Need to Know About the NAR Commission Settlement

Home buyers and sellers in Florida should be aware of the changes to the commission structure in the real estate industry as a result of the NAR Commission Settlement. Here are the expected changes:

1. Changing: Buyers must establish a Buyer's Representation Agreement with their agent before doing any home showings. This change means that only agents with an agreement with buyers can show properties, giving you more control over the process.

2. NOT Changing: Buyers and their agents will continue to set broker compensation upfront. Buyer broker compensation can be a percentage of the sale price, a flat fee, or a retainer. Broker compensation can come from either the seller or the buyer. Stabilizing the compensation process should give you confidence in your financial planning.

3. Changing: The listing agent cannot advertise buyer broker compensation on the MLS. However, agents can still advertise when a showing is confirmed or through direct email, calls, texts, or other avenues. This "decoupling" of compensation requires buyers and their agent representatives to agree on the services agents provide and how the parties will handle payment. The options for payment are mainly unchanged.

4. NOT Changing: Sellers can advertise closing cost compensation and funds available for buyer broker compensation and other buyer closing costs.

These are nominal changes, but the most significant change requires a buyer's representation agreement upfront. The Buyer-Broker Agreement is a positive change as it will ensure buyers genuinely understand their options before making an offer on a home.

We are always here for you and happy to help you navigate any further questions or concerns about your Real Estate needs.

April 18, 2024

Open Houses This Weekend

Check out our top open houses in Stuart and Palm City this weekend. Click below for more info on this week's featured open house listings, or call us at 772-678-1600 to learn more about homes for sale in Florida.'s Treasure Coast

 

Local Listings Near You!
 
Open House | Apr 20, 1:00 PM - 3:00 PM
 
 
6069 SE Oakmont Place, Stuart,....
 
3 Beds   3 Full Baths   3096 Sqft
 
View Listing
 
 
Open House | Apr 20, 1:00 PM - 3:00 PM
 
 
1560 SW Dyer Point Road, Palm ....
 
3 Beds   2 Full Baths   2709 Sqft
 
View Listing
 
 
 
View All Listings
 
 
 

 

Contact us today to schedule a free consultation. Whether buying or selling a home on the Treasure Coast, we are always happy to meet with you to discuss your wants and needs with no obligation.

 

Posted in Lisitings, Open House
Web Analytics