DR LOUIS SCOMA

03/15/2025

Hidden Costs Of Home Ownership You Need To Know About
By Terry Schutz | Published on Sep 30, 2024
1.House Inspections and Appraisals
2.Closing Costs
3.Homeowner’s Insurance
4.Moving Costs
5.Equipment and Appliance Costs
6.Monthly Costs
7.Property Tax
8.Homeowners Association (HOC) and Condo Fees
9.Utilities
10.Maintenance and Repairs
11.The Unexpected Large Costs
So Have a Home Repair Budget and work with a good Agent-Me
Dr Lou of CoastalEdge Real Estate 239-922-8117

02/05/2025

Unsold Florida Housing Is Piling Up in Several Cities
Published Feb 04, 2025 :
Florida's housing inventory is rising quickly, suggesting that the state might be on the brink of turning into a buyer's market, according to experts. But as prices remain high and mortgage rates are still hovering around the 7 percent mark, buyers remain reluctant, leaving homes for sale to sit idle on the market.
Overall, Florida counted a total of 157,221 active listings last month—the highest number in the country, followed by Texas with 102,552. In January 2019, the state had a total of 150,118 listed for sale.

Even as demand for homes should be higher, properties are selling at a much slower pace than they're flooding the market. According to real estate brokerage Redfin, the number of homes sold in the state rose 7.9 percent in December compared to a year earlier,
while the number of homes for sale rose 22.7 percent.

In South Florida, where new rules around aging condos have triggered an explosion in condo listings, the situation is particularly critical. Naples News reported that Collier County's unsold home inventory is now nearly 200 percent higher than in 2019; in St. Petersburg, is close to 44 percent higher. In Lee County, the number of unsold homes is now close to 150 percent higher than just a year ago; in West Palm Beach, it's over 55 percent higher.

"In Naples and Marco Island, the median household income is $91,000," Southwest Florida-based Red Fortress Property Management's Michael McVety told the newspaper. "The income needed to afford homes in the area is $188,000. This creates a 105 percent affordability gap. Only 30 percent of local residents can afford homes, leaving the market heavily dependent on external buyers."
Sellers & Buyers need the help of a Realtor so call me Dr Lou of CoastalEdge Real Estate 2329-922-8117

10/29/2024

Why you should definitely use a real estate broker to help buy your home
Get a housing and property expert to help broker your home purchase.
Expertise and experience Navigating the complex real estate market
Handling paperwork and legalities
Access to listings and market insights
Exclusive access to listings
Market insights and trends
Negotiation skills
Getting the best deal
Handling counteroffers
Time and stress savings
Streamlining the search process
Managing communication and appointments
Financial guidance
Understanding financing options
Call me Dr Lou of Coastaledge real estate 239-922-8117

10/28/2024

These Features Will Sell Your Home Quicker, According to Front door:
Top Features That Will Sell Your Home Quicker
Vanity Lighting (median days to sell: 44)
Stone Tile Floor (median days to sell: 45.5)
Open Shelving (median days to sell: 47)
Exposed Brick Wall (median days to sell: 47)
Modern Lighting (median days to sell: 47.5)
Artificial Grass (median days to sell: 48)
Chandelier Lighting (median days to sell: 48)
Shed (median days to sell: 49)
Pergola (median days to sell: 49)
Subway Tile (median days to sell: 49)
Butcher Block (median days to sell: 49)
Built-In Shelves (median days to sell: 49)
King-Size Bed (median days to sell: 49)
Luxury Carpet (median days to sell: 49)
Recessed Cabinet (median days to sell: 49)
Barn Door (median days to sell: 50)
EV Charger (median days to sell: 50)
Bay Windows (median days to sell: 50)
Dog House (median days to sell: 50)
Wall Sconces (median days to sell: 50)
Call me Dr. Lou of Coastaledge real estate 239-922-8117

10/21/2024

10/21/2024

Florida Homeowners Struggle to Sell Their Houses:
Homeowners in some Florida cities are finding it harder to sell their homes as data shows that an increased number of listings are sitting on the market for more than 30 days.

The housing market in the Sunshine State experienced a boom during the COVID years when people from other parts of the country flocked to its cities, driving a surge in home sales. But now more and more homes are sitting as mortgage rates and high prices limit buyers. Meanwhile, soaring insurance fees are also dissuading potential buyers from purchasing property as they add more costs to owning a home.
"Redfin agents report that move-in ready homes in desirable neighborhoods are still selling quickly, but listings that don't fit that bill are starting to pile up in some parts of the country."
It is best to work with a real estate agent so call me dr. Lou of Coastaledge real estate 239-922-8117

10/17/2024

DID YOU KNOW?

Home Sellers Return While Buyers Withdraw, Inventory Surges
JUN 12, 2024:
Zillow forecasts that home values will be up 0.4% by the end of 2024, and tick down 1.4% through May 2025.

Total inventory accumulated the most in major Florida markets, where new construction has helped restock the housing shelves. Buyers saw more listings month over month in every major market except Miami.
Zillow reports 80% of recent sellers were influenced by life events, not rates or financial conditions.

A Zillow survey of recent sellers revealed that a majority (about 80%) were influenced by life events rather than optimal financial conditions, such as getting married or having a child.

It seems home sellers are swapping the “rate lock” effect for the “life-goes-on” effect in which people need to continue living, despite where rates are headed.
Call me dr. Lou of Coastaledge real estate to help you to sell or buy your next dream home: 239-922-8117