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Kathy & Tony

Source: Study: Renters moving from cities to suburbs

Home owners can overdo it when it comes to the upkeep of the home. Here are a few good intentions that really aren’t so good for a home.

Source: 8 Bad ‘Home Improvement’ Habits

Healthy home sales kept the US Housing Recovery on track, though fast rising prices and jitters about the broader economy could crimp buyer demand in the coming months.Worries about the economy dented consumer confidence this month,including a drop in in the number of people saying they planned to buy a house in the next six months. Earlier this year, a number of housing experts has expected price growth to slow as buyers reached the limit of what they could afford. But recent indicators suggest that buyers are unlikely to get relief soon.  Month-over-month price gains were modest, giving some indication that momentum may slow heading into 2016. Miami had lower prices this month than last and 10 other cities saw smaller increases in December compared with November. Home prices are likely buoyed by low mortgage rates.The average interest rate on a 30 year fixed was 3.65 compared with 4.01 at the end of December.

In South Florida 1/4 of home and condo sales are still considered distressed properties. The number at 27% while still lower than 32 in 2014 or 34 in 2013 is still a big number. Normal range is 5 to 10% so the distressed marker is still alive and well. Although it is true there are fewer homeowners going into foreclosure, the backlog is still very much in effect. There is ample opportunity to purchase real estate at a discount. Now is the time to be looking and buying.

Buying a vacation home sounds like a dream, but that doesn’t make it the right move financially. Answer these questions to see if it makes sense for you.

Source: Should You Buy That Vacation Home or Stick With Renting? – Real Estate News and Advice – realtor.com

Here are 5 tips for a Good Open House

1 Have it off hour. Be different to get more people 3-5 instead of 1-3.

2 Enlist the Neighbors. Let them know and they will talk.

3 Use high and low technology. Stay online but use old tricks too.

4 Be security conscious. Keep valuables out of way.

5 Be absent. Let the pros do their job.

Here is a list of 10 Ways to Keep Your House Clean

1 Stay in Motion( Pickup and Organize) 2 Do not let dishes pile up ( Clean and organize)3 Laundry One load at a time( Do not be overwhelmed by LOADS of Laundry) 4 Make sure it is a full load ( No half loads)5 Wipe the sink and shower down(Easiest chore of all)6 Purge what you do not need (No clutter)      7 Be grateful to give( Eliminate what you do not want)8 Do it now (Do not procrastinate)9 Use Goodwill as your friend( Makes you feel good)10 Shop Smart(Buy what you need)

There are many mistakes landlords here is a Top of the Pile List

1 Overpaying for a property. ( Having a relationship with the property and not the Numbers) 2 Not hiring a property manager and thinking you can do it yourself. ( Bad rookie mistake)  3 Improperly screening the tenants. ( Just a killer getting the wrong person in) 4 Being lenient with a tenant. (They are not your friends)  5 Not charging late fees( This means they will pay late always)     6 Not responding to phone calls. ( If you do not care neither will they) 7 Not repairing problems correctly. ( This means you are going back) 8 Only visiting the property when there is a problem. ( Your missing the game) 9 Being lazy with your investment. (Tomorrow means I am okay with losing today)  10 Not having the gumption to evict. ( They will stay and not pay as long as you let them)

These are a few but there are many more. Hire a Property Manager.                                                                                                                        

Positive trends-more closed sales,higher median prices,new listings and fewer days on the market dominated November Florida Real Estate news. Also the decision by the Fed to slightly raise rates will not have a negative effect on home sales. The rate rise has spurred new sales. Median sales price for a SFR is around 200,000 up 13.6%, and for a condo the Median price is around 150,000 up 7.1% compared to last November. Inventory continues to be tight which really helps a seller in this market. Also there are still lower priced properties needing work which are a bargain. This is a great time to be a seller or investor in Florida.