Buying a home is generally one of the most significant investments people ever make. The National Association of Realtors put the infographic below together to help everyone understand how real estate agents advocate your interests in home purchases.
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.
The infographic below from Florida Realtors does a nice job of laying out why utilizing a real estate agent will make your next home purchase easier. With over a decade of helping people buy and sell homes, one thing I can say for certain is that the process isn’t cookie-cutter. Every transaction brings its own twists and turns, so working with someone that can navigate through those turns makes a difference.
The story in Sarasota County was about listings in November. As sellers are getting more comfortable putting their homes on the market, transactions are ramping up heading into our busy season in Florida. With roughly five months of inventory on the market at November’s sales pace, it is a better time to buy than we have seen in a long time. That said, six months of inventory is generally considered market balance, so sellers aren’t yet in a challenging position. Rather, negotiating leverage should be good for both parties this winter. The infographic from Florida Realtors below has more detail.
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.
