January 2018 Housing Report: 4 Things to Know

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The January 2018 Housing Report shows that December capped off 2017 with record-breaking home prices, speedy sales and low inventory. One thing is for sure is that the real estate market is on fire, and there’s no indication the flames will be dying down anytime soon. Here are key points from the January 2018 Housing Report based in 54 metro areas including Orlando:

1. Homes are selling fast
In December, homes spent an average of 57 days on the market. That’s the shortest time of any December in the report’s history.

2. Prices are rising
The median sales price of a home sold in December was $232,500. That’s nearly 3 percent higher than the median sales price in December 2016.

3. Inventory continues to shrink
Making sales harder was a low supply of inventory at 3.7 percent — which is the lowest December figure in the nine-year history of the report. That corresponds with a 14.6 percent decline in inventory, lengthening a streak of monthly declines that began in November 2008.

4. Slightly fewer transactions occurred
The overall average number of home sales fell 3.3 percent compared to December 2016, with 39 markets reporting fewer transactions. The end of year is typically a slower selling season, but buyers should still work with their agents to navigate the competitive market.

Dig into the details of the January 2018 RE/MAX National Housing Report in the infographic below.

 

January 2018 Housing Report

January 2018 Housing Report

The January RE/MAX National Housing Report shows the median home price rose 8.1% year-over-year, with 50 of the report’s 54 markets posting increases. At the same time, December sales dropped 3.3% from December 2016, with 39 markets reporting fewer transactions. Making sales harder was a Months Supply of Inventory of 3.7 which is the lowest December figure in the nine-year history of the report. That corresponds with a 14.6% decline in inventory, lengthening a streak of monthly declines that began in November 2008.

Also setting a report record for December was the speed of home sales: 57 days. That figured into an overall 2017 median for Days on Market of 52.5 — nearly a week less than the 2016 median of 58.5 days.

Home buyers paid record prices in 2017, led by June’s Median Price Sold of $245,000. Prices increased year-over-year in every month of 2017, with December marking the 21st consecutive month of year-over-year price increases dating back to April 2016.

Abby Nelson’s Great Homes Group Inducted into Elite REMAX Diamond Award Club

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Orlando, FL  1/18/2018 – Abby Nelson’s Great Homes Group with REMAX 200 Realty has qualified for the 2017 REMAX Diamond Award, which honors successful agents who have earned at least $1 million in commissions in the past year. In 2017, the Diamond Award was presented to less than one percent of all active REMAX agents.

This is the first year Great Homes Group has received this REMAX Diamond Award high honor.

“Abby’s tireless dedication to serving her clients, consumers and community has allowed her to achieve this prestigious and elite honor,” said Kevin Acker Broker/Owner of REMAX 200 Realty “Receiving the Diamond Award is a significant accomplishment and we’re extremely proud that Abby and her team continue to raise the bar in real estate.”

Abby is an established leader in the greater Orlando real estate industry and has been serving her community as a REMAX real estate agent for 14 years. She specializes in residential real estate and holds the 5-Star Professional, GRI, e-Pro and CDPE designations. Abby is also a member of the National Association of Realtors® and Florida Association of Realtors®.

In addition, Abby and her team actively support Children’s Miracle Network along with several of their colleagues at REMAX 200.

REMAX Diamond Award

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About RE/MAX Town & Country Realty and RE/MAX 200 Realty:
RE/MAX 200 is a family business in constant operation for nearly 40 years through all types of real estate markets in Winter Park, Florida.  Founded by Ron Acker in 1975 the company has grown into one of the most respected, largest, independently owned and operated real estate brokerages in the area.  RE/MAX Town & Country Realty is the Winter Springs branch office of RE/MAX 200 Realty and has been serving Seminole County from the same location on Tuskawilla Road for over 20 years.

About RE/MAX:
RE/MAX was founded in 1973 with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 100,000 agents provide RE/MAX a global reach of nearly 100 countries. When measured by residential transaction sides, nobody sells more real estate than RE/MAX.  With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $150 million for Children’s Miracle Network Hospitals® and other charities.

Contact:
Peter Nadler, Marketing Director
(407) 629-6330 x518, peter.nadler@rmxmail.com

Yvonne Clayton Joins RE/MAX 200 Realty

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Winter Park, FL  January 12, 2018 – RE/MAX 200 Realty announced today that REALTOR® Yvonne Clayton has joined the growing real estate firm on Orlando Avenue in Winter Park.

Yvonne has been in real estate since 1983 in one form or another; from property management, marketing, sales and training to being part of a family of builders and developers.  She is a native of Orlando and has watched her hometown change dramatically.

“Now having raised my 4 children and spending countless hours volunteering at church, school and sporting activities, as well as overcoming the challenge of breast cancer over the last two years, I feel ready to launch my career (and hopefully help others conquer breast cancer),” Yvonne said.

“I love meeting and helping people.  I am a researcher and problem solver at heart. I have a lot of energy and being involved in real estate most my adult life it just seemed natural to combine all my gifts into helping people find their perfect home,” Yvonne added.  “As usual, I did my research before deciding on a real estate firm and I chose Remax 200 because of its fine reputation, professionalism, training and family atmosphere.  I am thrilled to be part of the team and look forward to taking off!!”

For more information about RE/MAX 200 Realty or Yvonne Clayton, please visit MetroOrlandoProperties.com or contact Rob Breese, Sales Manager at (321) 436-8813.

 

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About RE/MAX 200 Realty and RE/MAX Town & Country Realty:
RE/MAX 200 is a family business in constant operation for nearly 40 years through all types of real estate markets in Winter Park, Florida.  Founded by Ron Acker in 1975 the company has grown into one of the most respected, largest, independently owned and operated real estate brokerages in the area.  RE/MAX Town & Country Realty is the Winter Springs branch office of RE/MAX 200 Realty and has been serving Seminole County from the same location on Tuskawilla Road for over 20 years.

About RE/MAX:
RE/MAX was founded in 1973 with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 100,000 agents provide RE/MAX a global reach of nearly 100 countries. When measured by residential transaction sides, nobody sells more real estate than RE/MAX.  With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $150 million for Children’s Miracle Network Hospitals® and other charities.

Contact:
Peter Nadler, Marketing Director
(407) 629-6330 x518, peter.nadler@rmxmail.com

Orlando among best places to find a job

If you’re looking to find a job for a fresh start in the new year, then you’ll be interested to know that Orlando is among the best places to find a job, according to a new WalletHub analysis.

To help you with the job hunt, WalletHub compared more than 180 U.S. cities across 26 key indicators of job-market strength, ranging from job opportunities and employment growth to monthly average starting salary.

The top 10 best cities for jobs included:

  1. Chandler, Ariz.
  2. Scottsdale, Ariz.
  3. San Francisco
  4. Peoria, Ariz.
  5. Gilbert, Ariz.
  6. Plano, Texas
  7. Portland, Maine
  8. Irvine, Calif.
  9. Madison, Wis.
  10. Boston

Orlando, by the way, came in at No. 13, besting all other Florida metro areas. Tampa ranked next highest at No. 16, while Jacksonville came in at No. 76 and Miami at No. 85.

With 2017 behind us, it’s time to think about fresh starts again. But whether that means a small change or a complete life overhaul, find a job or better job will be a top resolution.

If that’s your mission for the new year, it’s a good time to be on the job market. According to the U.S. Bureau of Labor Statistics’ most recent jobs report, the national unemployment rate has fallen to a 17-year low of 4.1 percent while hiring is up.

College graduates, especially, will see a strong boost in their job prospects. According to the National Association of Colleges and Employers, employers plan to hire 4 percent more members from the Class of 2018 than from the previous graduating cohort.

But your luck to find a job depends largely on location. To help you with the job hunt, WalletHub compared more than 180 U.S. cities across 26 key indicators of job-market strength. They range from job opportunities to employment growth to monthly average starting salary. Read on for our findings, additional insight from our panel of experts and a full description of our methodology.

Check out the full rankings here.

Thank you: Orlando Business Journal

Sellers: It’s Risky Pricing High to ‘See What Happens’

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Every seller wants to get the best deal for their house—especially when you consider that as much as $500,000 in profit can be earned tax-free. So why not just price your house to the moon? After all, you can just bring it down later, right?  Not really, it can be risky pricing high.

Well, there are a few problems with that. If you price high and then slowly start bringing it down…and down…and down…buyers are going to notice. It makes that home start to seem like it’s in a bargain bin. You want your home to appear like a deal, not cheapened goods. When it sits on the market for an extended time because of overpricing, buyers are going to wonder why. Would you feel urgency as a buyer if you read that a property was listed 180 days ago? Probably not.

To set a realistic price, consider these tips:

  • Do your due diligence. What have houses like yours sold for when the deal was made in a reasonable time? And what were the original prices of those homes?
  • Have an honest discussion with your real estate agent. He or she knows the area, and wants to sell your home as quickly as possible for the most competitive price. What does he or she think is reasonable?
  • Be an assertive seller, but don’t overplay your hand. Remember, the little extra money you hold out for may not be worth the six months or year of mortgage payments you’re stuck paying in the meantime!
  • Remember, it can be risky pricing high and it takes just a few extra months of mortgage payments to erase your profit while waiting for price reductions to catch up with true market value.

Find a local RE/MAX agent who can help you price your home to sell.

Thank you:  RE/MAX Housing Blog