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December 2016

Found 7 blog entries for December 2016.

Americans Are on The Move [INFOGRAPHIC] | MyKCM

Americans are on the move

It's kind of in our nature. Well, for many of us, that is. For years, decades, maybe even centuries, Florida has been a top landing spot for restless travelers whose homes are elsewhere. 

Why wouldn't it be? We have NO snow. Our climate is typically beautiful with year-round average of about 72 degrees.

Our state is LITERALLY lined on all sides but one with beautiful sandy beaches. And pristine waterways wind everywhere through the middle.

So it should be no surprise to anyone that recent research looking at current moving trends uncovered that folks are flocking to Florida in droves. And they're coming for more than just the winter. They're staying. 

It's great news for homeowners, who will see their

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Home Prices: Where Will They Be in 5 Years? | MyKCMAround this time of year, we here at The Wyse Home Team, as well as real estate industry experts around the nation, typically spend a bit of time looking at predictions for the new year to come. But the truth is, unless you know for sure that you will need to make a big move in the next 12 months for family or work reasons, your better bet is likely watching the market with a longer outlook. Say... five years. Maybe ten. 

So right now, let's look at what the next five years might bring in terms of home prices.

Today, many real estate conversations center on housing prices and where they may be headed. One resource for that information is the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one

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(Daytona Beach, FL) –As inventory levels continued to hang low, home sales remained steady and nearly matched sales transaction totals from November 2015. Median sales prices showed strong gains, meanwhile, giving sellers and homeowners another reason to smile this holiday season. 

For the month ending on November 30, 2016, the Daytona Beach Multiple Listing Service (MLS) reported that 329 existing single-family homes (detached) were sold in the greater Daytona Beach area with a median home sales price of $202,500. The low inventory conditions kept prices soaring as the market moved closer to the end of 2016 with median sales prices up in November by more than 19 percent over last year. Year-to-date comparisons show sales are down by roughly 5.5

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Christmas parades are always fun in Florida and it's often a unique experience for our northern transplants and snow birds. 

The weather is typically just cool enough that you can enjoy a cup of hot cocoa. And unlike the Christmas Parade experience in many other states, here, you won't be blowing warm breath on your freezing fingers as the floats roll by!

As memorable as a Florida Christmas parade experience can be, though, there's one holiday parade in Daytona Beach that takes the Christmas Parade in Florida novelty to a whole new level.

And guess what? The event is this weekend!

Mark your calendars now for the Halifax River Yacht Club's 16th Annual Christmas Boat Parade on the Halifax River. The parade will take place on Saturday, December

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The Daytona area condo market regained some momentum in November after a few months of lackluster sales activity due to low inventory levels and market impacts from Hurricane Matthew. 

An analysis of Daytona Beach Multiple Listing Service (MLS) data by The Wyse Home Team at Keller-Williams Realty showed that the number of condo sales in November grew by more than 11 percent, compared to sales totals a year ago. Meanwhile, median sales prices showed a remarkable 25 percent increase, year over year. Month over month, both sales and prices were relatively steady with only a slight increase in sales and a small decrease in median sales price. 

According to the Daytona Beach MLS, there were 88 condo sales in November with a median sales price of

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Why Are Mortgage Interest Rates Increasing? | MyKCM

According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed rate mortgage interest rate jumped up to 3.94% just before the presidential election. And in late November, they hiked again.

As of last week’s Primary Mortgage Market Survey from Freddie Mac, the average rate on a 30-year fixed-rate mortgage had risen to 4.08%.  According to Total Mortgage, rates are now at the highest point since the summer of 2015.  And a recent CNBC article says the spike in rates has pushed the average home price up by about $16,000.

Interest rates had been hovering around 3.5% since June, and many are wondering why there has been such a significant increase so quickly.

Why did rates go up?

Although it's become a popular

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Is Getting a Home Mortgage Still Too Difficult? | MyKCM

There is no doubt that mortgage credit availability is expanding, meaning it is easier to finance a home today than it was last year. However, the mortgage market is still much tighter than it was prior to the housing boom and bust experienced between 2003 - 2006.

The Housing Financing Policy Center at the Urban Institute just released data revealing two reasons for the current exceptionally high credit standards:

  1. Additional restrictions lenders put on borrowing because of concerns that they will be forced to repurchase failed loans from the government-sponsored enterprises or Federal Housing Administration (FHA).
  2. The concern about potential litigation for imperfect loans.

What's the result of these concerns?

6.3 Million

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