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

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

115,000 Agents and Counting

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RE/MAX is now home to 115,000 agents

That growth means more yard signs, more homes sold, more satisfied clients and more top professionals working together to serve buyers and sellers.

It’s another reminder that RE/MAX is the right choice for agents who strive for excellence and clients who expect outstanding service.

REMAX agents are different. We’re strong-willed. Whip-smart. And wide-awake. Now there are 115K of us. Hustle is catching on. #WeAreRemax #remaxhustle

 

REMAX Town & Country Welcomes Scott Garrison

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Winter Springs, FL July 17, 2017 – RE/MAX Town & Country Realty announced today that REALTOR® Scott Garrison has joined the growing real estate firm making the move from Real Estate Professionals Southeast, Inc. in Longwood, FL.

With over 26 years of experience as a full-time Orlando Realtor Scott Garrison exemplifies his slogan, “This Realtor Works!” by having helped hundreds and hundreds of families and investors buy and sell Central Florida real estate over his long career.

“With the lifetime of residential real estate sales experience I have, the increased exposure RE/MAX Town & Country brings will only help me serve my buyers and sellers even better!” Scott said. “I love that in 2016, this company ranked number one in All of Florida and number #41 among ALL 6,800+ RE/MAX Offices Globally by per agent productivity.” Scott added.

Living in Oviedo and with a Real Estate office now in Winter Springs, Florida, Scott actively serves his client’s real Estate needs virtually anywhere in Central Florida. Scott also has extensive experience in Vacant Land, Residential & Investment Real Estate and in helping clients with Foreclosures and Short Sales.

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

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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

Jobs, Fewer Loan Defaults Boost Orlando’s Draw, Report States

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Orlando’s rising employment rates and waning commercial mortgage delinquencies during the last year made the region one of the nation’s leading markets for growth and investment, according to a new study.

The four-county area, including Orange, Osceola, Seminole and Lake counties, ranked fourth nationally for its business climate during the last four quarters, according to a report released Wednesday by the analytics firm Trepp LLC. Orlando ranked behind Seattle, Las Vegas and Atlanta in the measurement of economic growth and commercial real estate investment, said Sean Barrie, research analyst for Trepp.

During the last year, Orlando’s population grew 2.5 percent and unemployment was 3.9 percent, with 42,800 jobs added during the last four quarters, Trepp’s report stated

Orlando’s ranking was not surprising to Marcel Arsenault, who oversees the investment management company Real Capital Solutions, based in Colorado.

“We concur 100 percent. Orlando has wonderful in-migration from Puerto Rico and elsewhere, and it benefits from the ‘Great Drain’ of companies leaving New Jersey,” said Arsenault, who studies business cycles of property types throughout the country. Last week, he showed an audience of real estate journalists the advisory emails he sent in 2005 predicting a sharp economic slide, which materialized starting a year later as the Recession.

Underscoring his views, Real Capital Solutions earlier this month purchased Maitland Forum with more than 284,000 square feet at 2600 Lake Lucien Drive, Maitland, for $15.4 million and Park Center with more than 127,000 square feet at 2500 Maitland Center Parkway for $6.8 million, records show.

Maitland stands as one of the biggest turn-around markets in the region, said Chris Owen, who oversees research for Cushman & Wakefield in Florida. Vacancies for Maitland-area offices diminished from about a quarter of available space to a tenth during a three-year period that ended in early 2017, the real estate brokerage reported. Relatively affordable office rents, particularly when compared with downtown Orlando, have boosted activity there, he added.

Owen cited another factor considered by companies scouting cities for call-center and back-office locations: Orlando residents are often “accent-neutral” and can communicate easily with customers nationwide.

Trepp cited Orlando’s rising appeal in part to businesses relocating from expensive markets with higher taxes, including New York, Los Angeles and Chicago. Trepp researchers referred to Orlando and other top cities in the ranking as “18-hour cities” — they may not enjoy the same round-the-clock cache as larger cities but are heading in that direction.

Trepp also cited Florida’s lack of state income tax.

Orlando businesses are not without some credit problems, although commercial mortgage delinquencies dropped about a half a percent to 2.18 percent during the year-long period. Trepp reported.

Thank you:  Orlando Sentinel

Amazon Plans to Create 1,500 Jobs in Orlando

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Amazon.com, Inc. will open a new fulfillment center in Orlando creating 1,500 new, full-time jobs. The 850,000 square-foot center will be a highly technological workplace featuring Amazon Robotics. The site, located in Lake Nona, will open in 2018.

“We are excited to join the Orlando community, creating more than 1,500 full-time jobs at our new fulfillment center,” said Akash Chauhan, Amazon’s vice president of North America operations. “We very much appreciate the state and local elected leaders who have supported Amazon’s arrival in Orlando and we look forward to bringing more jobs and investment to the state in the coming months.”

Amazon employees will pick, pack and ship small items like books, electronics and consumer goods to customers.

“I am proud that Amazon has chosen the Orlando area as the best location for their new fulfillment center. Amazon is already a major job creator in Florida, and we’re proud that they are continuing to invest in our state and create new opportunities for our families,” said Governor Rick Scott. “Today’s announcement is a reminder of the important role of Enterprise Florida and local economic development agencies who have worked to market our state so we can outcompete other locations for these major jobs wins.”

Amazon has created more than 4,000 full-time jobs in Florida since building its first fulfillment center in the state in 2013. The new fulfillment center will bring Amazon’s workforce in the Sunshine State to more than 9,000.

“We’re thrilled to welcome Amazon to Central Florida, and look forward to this legendary innovator becoming a part of our community,” said Orange County Mayor Teresa Jacobs. “We’ve worked hard to expedite permitting and other County functions in order to get this new type of fulfillment distribution center – including Amazon Robotics and a significant investment in technology – up and running. This is a huge win for Central Florida and a wonderful opportunity for our entire community, including the 1,500 employees who will join the Amazon team and all those who will benefit from Amazon’s well-known commitment to the local community.”

Full-time employees at Amazon receive highly-competitive pay, health insurance, disability insurance, retirement savings plans and company stock. The company also offers up to 20 weeks of maternal and parental paid leave and innovative benefits such as Leave Share and Ramp Back, which give new parents flexibility with their growing families.

“Florida’s business climate continues to beat out other states, and we are proud to see Amazon choose the Orlando area for a new fulfillment center,” said Mike Grisson, interim president and CEO of Enterprise Florida. “The workforce, infrastructure and overall business friendliness in Florida lead the nation and this is apparent as our economy continues to grow.”

Amazon also offers full-time employees innovative programs like Career Choice, where the company will pre-pay up to 95 percent of tuition for courses related to in-demand fields, regardless of whether the skills are relevant to a career at Amazon. Since the program’s launch, over 10,000 employees have pursued degrees in game design and visual communications, nursing, IT programming and radiology, to name a few.

“Amazon’s decision to select Orlando for its next major investment is a tremendous win for the Orlando region,” said Tim Giuliani, president and CEO of the Orlando Economic Partnership. “It says a lot about our status as a major employment hub in the United States when a global leader in ecommerce chooses to add more than 1,500 new jobs in our community. Amazon is a great addition to our region with programs that provide full benefits to employees while also encouraging workers to further their education and improve their skills through a tuition reimbursement incentive.”

“OUC is proud to be part of the team that brought Amazon to our community,” said Roseann Harrington, Vice President, Marketing, Communications and Community Relations, Orlando Utilities Commission. “Working together, we’re helping companies make a power move to Orlando where the payoff is greater reliability, better rates, deeper connections to our community and a greener future. We look forward to serving them and their employees.”

The project is being developed in a partnership between Seefried Industrial Properties and an affiliate of USAA Real Estate Company. Tavistock Development Company entitled and sold the property, and will develop the infrastructure for the project.

Orlando Economic Development Commission

Home of America’s Best Real Estate Agents

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For the third straight year, RE/MAX has more of “America’s Best Real Estate Agents” than any other brand, according to the 2017 REAL Trends ranking of 12,500+ top producers.

Once again, RE/MAX agents dominated the annual America’s Best Real Estate Agents list from REAL Trends.

How do you define the best?

  • RE/MAX agents qualifying in the Transaction Sides category averaged 71 transaction sides last year. Teams qualifying in this category averaged 139.
  • Agents qualifying for Sales Volume averaged $30.7 million in volume last year. Qualifying teams averaged $53.5 million.

In total, 2,506 RE/MAX agents and teams made the list, compared to 2,248 Keller Williams agents and 2,040 Coldwell Banker agents. No other brand came close.

RE/MAX Agents Once Again Dominate Annual NAHREP Ranking

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National Association of Hispanic Real Estate Professionals Names Top 250 Latino Agents in the United States

The National Association of Hispanic Real Estate Professionals® (NAHREP®) Top 250 Latino Agents Award annually recognizes the industry’s leading Hispanic real estate agents and brokers from across the country. For the third year in a row, the number of RE/MAX agents included in the ranking far surpassed the number of agents of other national real estate brands.

“RE/MAX salutes all of the agents included in this year’s NAHREP Top 250 Latino Agents Award ranking,” said Mike Reagan, RE/MAX, LLC, Senior Vice President, Business Alliances, and a member of the NAHREP Corporate Board of Governors. “It’s incredibly rewarding to see dozens of RE/MAX agents, more than any other brand, included in this year’s prestigious list. It’s a testament to their dedication and the superior customer service they provide their clients every day.”

An impressive 67 agents affiliated with RE/MAX were recognized in this year’s ranking, six more than last year and 30 more than the closest competitor. In fact, RE/MAX agents included in the ranking nearly exceeded the next two competitors combined:
-RE/MAX     67 agents
-Keller Williams     37 agents
-Century 21     31 agents
-Coldwell Banker     16 agents
-ERA     8 agents

RE/MAX has five agents represented in the top 25:
-Cristina Edelstein, RE/MAX Results, Plymouth, Minnesota, 386 sides
-Mario Negron, RE/MAX Pioneers, Cypress, Texas, 364 sides
-Veronica Figueroa, RE/MAX Innovation, The Figueroa Team, Orlando, Florida,
285 sides
-Monica Foster, RE/MAX Space Center, The Monica Foster Team, Houston, Texas
281 sides
-Luis Ortiz, RE/MAX Partners, Berwyn, Illinois, 203 sides

The NAHREP Top 250 Latino Agents Award list, now in its sixth year of publication, recognizes agents whose hard work and dedication has led them to close an outstanding number of transactions in an effort to increase the rate of sustainable Hispanic homeownership in communities across the country. The agents included in this year’s ranking represent a combined total of 25,945 transaction sides from January through December 2016 and over $6.07 billion in total aggregate volume. This year’s honorees were selected from a record-breaking 900 agents considered, the largest pool of candidates for the award to date.

Other national surveys have demonstrated the high productivity of RE/MAX agents. RE/MAX recently announced that its agents outperformed agents with other real estate brands in the 2017 REAL Trends 500 survey. Associates affiliated with the RE/MAX network regularly average double the number of transaction sides per agent when compared with competitors in the annual survey of large brokerages. RE/MAX associates included in the survey on average outsold competing agents with a ratio of more than two to one and averaged 17.2 transaction sides while agents with competitors averaged 7.8. The RE/MAX agent average of 17.2 transaction sides led all national franchises in the ranking.

With a presence in over 100 countries and territories, the RE/MAX network’s global footprint is unmatched by any other real estate brand. The franchisor’s total agent count grew 6.8 percent in 2016. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides, and more than 110,000 agents worldwide are a part of the RE/MAX network.

REMAX Newsroom

National Association of Hispanic Real Estate Professionals