What’s New in South Florida Area Real Estate Market and Lifestyles August 2021

 

What’s New in South Florida and the Treasure Coast Markets

 Luxury Homes and Lifestyles – August 2021

 

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Highlights:

• CHECK THE BLOG FOR MORE ARTICLES and    Previous What’s New posts for prior articles
• 2021 New Conforming Loan Limits Increase to $548,250 for South Florida counties, FHA and VA limits are – $402,000 for Palm Beach County and $378,000 for St Lucie County
• Diving Deep into Today’s Biggest Home-Buyer Concerns
• Home Buying Process page is being updated and expanded
• What House Can I Afford plus new real estate calculators added in the Mortgage Finance Center
• South Florida Area Market Reports July for  2021  /  August Available by September 6th, 2021
• Here are some charts from John Hopkins University on Tracking Florida  COVID -19 Cases and Deaths by Overall Totals and By Daily Totals – UPDATED DAILY

 

Diving Deep into Today’s Biggest Buyer Concerns

The #1 Concern of home buyers today is affordability.   What are the market conditions that affect affordability?

Should I go ahead and purchase now, or rent instead or wait it out?  Check out this article for some more explanation and comparison of today’s market.

 

Demand for Vacation and Second Homes is Still Strong

The National Association of Realtors (NAR) 2021 Vacation Home Counties Report shows that this increase in vacation home sales continues in 2021.

The pandemic created a tremendous interest in vacation homes across the country.  Many people purchased second homes as a safe getaway from the challenges of the health crisis, and with professionals working from home and many students taking classes remotely, it made sense to see a migration away from cities and into counties with more vacation destinations.  Check out the report for more details.

 

If Housing Affordability Is About the Money, Consider The Impact Equity Build-up Has On The Affordability Equation

The equity build-up over the past year with the low interest rates, actually shows a substantial benefit to your actual mortgage payment – see this article for examples of buying a home now and also renting vs buying.

 

Port St Lucie 55+ Active Adult Communities and New Construction

I am in the process of updating these pages on 55+ communities in Port St Lucie – a very HOT market right now!  It includes resales and new construction.  Esplanade at Tradition is one new resort-lifestyle development that opened this past month next to Vitalia – I added a new page for this.    Telaro by Mattamy Homes will be opening in the fall.  GL Homes Valencia Grove is selling it’s last section – but there are 4 more large sections to build.

Please note that the builder cooperates with Realtors and the  prices offered to customers is the same price offered in the MLS including Realtor fees – there is no difference in price and in this hot market they are not negotiating them either way. The sales people represent the builder  so it is advantageous to have a Realtor represent your interest.

The Home Buying Process

This page is being updated and expanded with more local information and tips on property taxes, insurance and mortgage information.

 

How Much House Can You Afford?

Also visit the Mortgage Finance Center; main page for Mortgage programs, Affordability Worksheets  and Calculators.

 

Market Trends Updates for July, 2021 / August Available September 6, 2021

View the updated Market Trends and Reports for July for various cities in Palm Beach County, St Lucie and Martin Counties. These reports automatically update around the 5th of the month so check back and keep up to date!