WaterColor Real Estate, Rosemary Beach and Scenic 30A
Spring Break is just around the corner here on Scenic 30a and the beaches are beautiful as usual.
If you are planning a trip to the area and interested in looking at property contact Homes on 30a . We can help with all of your 30a Real Estate needs.
This 4 bedroom 4 Bath Home in Phase 3 Watercolor Florida Now Under Contract
$,1,295,000
674 Forest St
Seaside, Fl 32459
$1,095,000
From the front porch step into the foyer and behold the elegant curved staircase with floor to ceiling windows as the backdrop. Wood columns frame the entry into the living area with a light, open design of this Charleston style cottage. Spacious dining area off kitchen with updated granite countertops and stainless steel appliances. Private sun deck at the rear of cottage. Roomy master suite has tray ceiling, master bath was recently expanded and upgraded. Second level porch accessible from both the master and guest bedroom. Room to enlarge cottage or add guest cottage. Additional +-420 SF porches
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Housing Recovery to Continue in 2013
Mortgage News Daily BY JANN SWANSON
Three economists told attendees at the International Builders Show that the housing market should continue to improve on an accelerating basis in 2013. But each cautioned that there are many factors, especially on the federal government level, that could still derail the recovery
David Crowe, Chief Economist, said that nearly every indicator of housing market strength, permits, prices, sales, housing starts, and builder confidence, has been trending upwards in recent months. He noted that home prices, which are up nearly 6 percent on an annualized basis over the last 10 months, are particularly important because they are a trigger for people to return to the market.
He pointed as well to other positive indicators including low rates and strong affordability, rising household formation and a general improvement in the economy. Housing is now also contributing to rather than acting as a drag on the economy and increased its share of economic growth to 12.8 percent in the fourth quarter of 2012.
Setting the 2000-2003 period as baseline benchmark for normal housing activity, Crowe ticked off other positive indicators:
Residential remodeling has returned to previously normal levels and activity is expected to increase 2.4 percent this year.
The hardest-hit market, single-family houses, was running at 44 percent of normal production in the fourth quarter of 2012 but should rise to 52 percent of what is considered a typical market by the fourth quarter of this year and 70 percent by the fourth quarter of 2014.
Single-family starts are anticipated to rise 22 percent from 535,000 last year to 650,000 in 2013 and to 844,000 units in 2014.
On the multifamily side, NAHB is anticipating that starts will increase 22 percent from 246,000 units last year to 299,000 in 2013, and rise an additional 6 percent to 317,000 units in 2014.
However, Crowe cautioned that builders continue to face several challenges, including stubbornly tight mortgage lending conditions, inaccurate appraisals, rising materials prices and a declining inventory of buildable lots. He also cited the potential that the continuing gridlock in Washington over the debt ceiling, sequestration, and the budget along with calls by some policymakers for major changes to the mortgage interest deduction, could negatively impact consumer confidence and future housing demand.
Prices rose in 42 states between September 2011 and September 2012 Nothaft said, and prices increased nationwide by 4 percent. They are projected to increase 2 to 3 percent in 2013 and with the oversupply of vacant homes at their lowest level in a decade, this will further ease downward price pressure.
U.S. builders started work on homes in December at the fastest pace since the summer of 2008 and finished 2012 as their best year for residential construction since the early stages of the housing crisis. It is an increase of 28.1 percent from 2011. And it is the most since 2008 – shortly after the housing market began to collapse in late 2006 and 2007.
In December, the pace of single-family home construction, which makes up two-thirds of the market, increased 8 percent. It is now 75 percent higher than the recession low reached in March 2009.
Applications for building permits, a sign of future construction, inched up to a rate of 903,000 – a 4 1/2-year high.
Confidence among homebuilders held steady in January at the highest level in nearly seven years. But builders are feeling slightly less optimistic about their prospects for sales over the next six months, according to a survey released Wednesday.
In November, sales of previously occupied homes rose to their highest level in three years, while new-home sales reached a 2 1/2-year high.
Those factors have helped make homebuilders more confident and spurred new home construction. But homebuilders’ are still warily watching the current standoff in Washington between President Barack Obama and Congress over several approaching budget deadlines, including the need to boost the nation’s $16.4 trillion borrowing limit.
Though new homes represent less than 20 percent of the housing sales market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to data from the homebuilders association.
Copyright © 2013 The Associated Press, Martin Crutsinger, AP economics writer. All rights reserved.
Let’s take a quick look at the number of Homes sold in 2011 and 2012. Below is a chart showing the number of sales for Detached Single Family Homes in 2011 & 2012.. These numbers help explain why our inventory levels continue to drop.
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