Both of these groups help make NWFL the special place that it is, so if you aren't familiar with what they do, read on! Thank you again to April King and Karen Vorhees for nominating these organizations to be highlighted.
Before we get to that however, it is time for us to introduce the new KW APP!
Introducing the KW App! A powerful tool for buyers and sellers which lets you seamlessly share information not just with your Realtor in real time, but your family as well.
Direct Download: TinyUrl.com/TonyasApp
Or Text: "KWF9BYVC" to 87778
Thank you so much to everyone who entered by sharing their favorite local community organizations, and congratulations to our winners! April King nominated the amazing Her Foundation, while Karen Vorhees nominated Bags of Hope NWFL.
The HER Foundation creates and maintains the most fundamental support structures for homeless and near homeless female veterans in Northwest Florida. They provide not just food, toiletries, access to medical care, job placement services, education but possibly most importantly, a place to call home. They serve those who have served for us all, offering female veterans in need a hand in rebuilding their lives into something truly meaningful. Founded by Nancy Bullock-Prevot, for nine years The HER Foundation has worked tirelessly to help our female veterans succeed in their life after serving, honoring those who truly deserve it and making NWFL a better place in the process. If you're a golfer, think about signing up for their upcoming golf tournament on Saturday, March 21st or if you've been known to eat lunch, join in on the women's luncheon the day before. Please, visit their website and give them a follow on Facebook to keep up to date on all the awesome things they are doing in, and for, our beautiful community.
The H.E.R. Foundation was formed to help these women veterans succeed. I realized that the effect of statistical numbers and facts does not really impact the veterans sleeping on the street, in a car or a doorway. The H.E.R. Foundation is ready to help the homeless female veterans in any way we can." Nancy Bullock-Prevot
The Bags of Hope do something really special for Northwest Florida children living in foster care by providing for them duffel bags, embroidered with their name, and full of comfort items. Sadly, many children in foster care carry their belongings in trash bags, so the Bags of Hope have made it their goal to replace those trash bags with personalized duffel bags. To date, The Bags of Hope have been able to deliver over 22,000 bags to children in foster care in the areas in which the organization works in. With a team led by Steve Gagne of Freedom Church, the Northwest Florida branch of Bags of Hope has spread across seven counties and delivered over 1,000 bags since its inception in 2016. I highly recommend visiting their website and giving them a like on Facebook to find out more what they do, and what you can do to help.
The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.
The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.
According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is strong. That’s not the case, however, with seller demand, which remains weak throughout most of the nation. Here’s a breakdown by state. Demand for housing is high, but supply is extremely low. NAR also just reported that the actual number of homes currently for sale stands at 1.42 million, which is one of the lowest totals in almost three decades. Additionally, the ratio of homes for sale to the number purchased currently stands at 3.1 months of inventory. In a normal market, that number would be nearly double that at 6.0 months of inventory.
Buyers need to remain patient in the search process. At the same time, buyers must be ready to act immediately once they find the right home.
Sellers may not want to wait until spring to put their houses on the market. With demand so high and supply so low, now is the perfect time to sell your house for the greatest dollar value and the least hassle.
The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.
We here at The Tonya Zimmern Team are teaming up with The Road Dogg Rescue & The Vineyard to put on a fun filled afternoon designed to match people with a perfect forever friend. If you've been thinking of adding a good boy or girl to your household, come on down on March 21st 2-4 P.M. Keep your eye on our social media pages for pictures of some of the doggies who will be making their way down and hoping to find themselves a perfect Pensacola family.
Visit our Facebook event page and RSVP today!
Homes priced in the top 25% of a price range for a particular area of the country are considered “premium homes.” At the start of last year, many of the more expensive homes listed for sale hadn’t seen as much interest, since much of the demand for housing over the past few years has come from first-time buyers looking for starter homes. It looks like buyer activity, however, is starting to show a shift in this segment.
According to the January Luxury Report from the Institute for Luxury Home Marketing (ILHM):
“In a snapshot of 2019, despite pessimism at the start of the year, the last quarter showcased a strengthening, with an upswing in the luxury market for sales in both the single family and condo markets.”
Momentum is growing, and those looking to enter the luxury market are poised for success in 2020 as well. With more inventory available at the upper-end, historically low interest rates, and increasing average wages, the stage is set for buyers with an interest in this tier to embrace the perfect move-up opportunity.
The report highlights the increase in buyer activity in this segment, resulting in growing sales toward the end of 2019:
“According to reports from many luxury real estate professionals, the significant increase in number of properties bought at the end of 2019 versus 2018 is reflective of an early 2019 holding pattern.
Many of early 2019’s prospective luxury buyers held off while waiting to see how prices would react to new tax regulations and other policy changes. Buyer confidence returned in late spring and compared to 2018, above average sales were reported in the final quarter of 2019.”
With evidence of strong buyer confidence, this is great news, as more homeowners are building equity and growing their net worth throughout the country:
“Many homeowners are now diversifying their wealth, owning several properties rather than a single mega mansion. In addition, there have been an increase number of home purchases taking place in smaller cities, reflecting the rising number of people relocating from major metropolises. Their property equity wealth or ability to pay high rental costs have afforded them the opportunity to purchase luxury properties in…secondary cities throughout North America.”
With a strong economy and a backdrop set for moving up this year, it’s a great time to explore the luxury market. Keep in mind, luxury can mean different things to different people, too. To one person, luxury is a secluded home with plenty of property and privacy. To another, it is a penthouse at the center of a bustling city. Knowing what characteristics mean luxury to you will help your agent understand what you’re after as you define the scope and location for the home of your dreams.
If you’re thinking about upgrading your current house to a luxury home, or adding an additional property to your portfolio, let’s get together to determine if you’re ready to make your move.
We are used to selling homes fast at The Tonya Zimmern Team, but when one goes under contract in just under two days, we definitely get excited! NOW is the time to sell, so if you've been thinking about putting your home on the market, get in touch with me today.