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Category Archives: Housing Trends

2019 Real Estate Prediction for Pinellas County.

2019 Real Estate Prediction for Pinellas County.

With 2018 behind us, we’re focusing on the new year and predicting where the real estate market is going in 2019. With so much data out there about the market, we have had to sift through the noise and sort the accurate data from the hyped-up data in order to set some realistic expectations for the year ahead of us.  As with all predictions, no one has a crystal ball able to see the future and how all of the cards will fall. I have however, distilled information from credible resources, based this post on my 20+ years of experience and what I am currently seeing in the marketplace. Let this information serve you as a barometer in your decision making this year as we optimistically head into 2019. Let’s take a look at how we’re expecting the real estate industry to shape up this year here in the U.S. and most importantly, Florida and Pinellas County.

With so many opinions on the web and in newspapers, most of which is just “Click Bait”,  it can be hard to decipher what you should pay attention to and really what’s going to happen with the real estate market this year, but if we look at consistent, reliable data sources such as the National Association of Realtors, realtor.com, Zillow and the National Association of Home Builders, the fog starts to clear and we begin to envision what’s ahead in 2019.

Over the last 4 years the U.S. housing market has seen roughly 5.2 to 5.4 million real estate transactions per year, this year it’s expected that 2019 with be right on par with 2018 with 5.4 million real estate transactions. So, we are not expected to see more sales but a steady market. However, the prediction for value changes isn’t quite as rosie. From 2016-2018 we saw roughly 7-8% appreciation each year. For 2019, based on a number of disruptors in the market, the largest factor being an unknown for mortgage interest rates, real estate is predicted to appreciate at roughly 4% nationally. Keep in mind that this is a nationwide average and every micro market will be different.

Some factors that I feel could help the real estate market in St. Petersburg and Pinellas County are: we are landlocked, Pinellas County is almost built out, new construction will require the removal of existing buildings which will push up real estate prices, builders are left building townhomes, condos and apartment buildings to accommodate the need for housing in more densely populated areas. The cost of building materials and labor are also on the rise. Population increase is another major factor, in 2018 Pinellas County saw a 7% increase in our population, Hillsborough saw a 13% increase and Manatee/Bradenton saw a 17%-18% increase. This data leads me to believe that Pinellas County should, on average, see a higher property appreciation rate than the predicted national average stated above.

Interest rates will be the biggest factor in 2019, making homeownership less affordable as we move though the year, the FED has given a dovish forecast for an additional rate increase this year. However, predictions of mortgage rates increasing over the next 12 months suggest that we could see mortgage rates climbing to 5.5% by the end of the year. This could make an average mortgage of $300,000, 12% more expensive per month by the end of the year.

Let’s add up all of these factors for a more well-rounded assessment of 2019 being your year for making a real estate move. Property values are continuing to increase with each month here locally and mortgage values are expected to increase at some point this year. If you have been considering making a move, it looks like the sooner you make a move in 2019 the better off financially you’ll be. Start your home search with the Price Group at PriceGroupRealtors.com  and call us for a consultation of your specific circumstances and home owning vision.

Hot Neighborhoods for 2016

There are many factors involved in choosing a new home, but one of the top concerns is location. Everyone has that ideal locale in their mind and The Price Group is ready to help make your real estate dreams come true. If you are looking for value, selecting from two of these top forecasted neighborhoods in 2016 will be a great choice for you!
 
Looking for a property that is likely to increase in value? Check out Seminole Heights. According to the Tampa Bay Times, homes in Seminole Heights are forecasted to rise in value by 4.7 percent this year. Not only is this neighborhood close to downtown Tampa, there are many historic attractions and independent businesses to give the community a unique and inviting charm. In addition to a wide array of restaurants and brewpubs, you will be close to many beautiful beaches and large parks. This hidden gem offers many tidy neighborhoods and fantastic schools. Check out our listings to start searching for your ideal home where you can unwind and enjoy the perks of living in an up-and-coming city.
 
Snell IsleIf you are shopping for waterfront property, Snell Isle is the perfect neighborhood for you. With many small homes being expanded in this area, overall property values are predicted to rise 4.3 percent in this peaceful residential community. Not only does Snell Isle have well-kept properties, but the community also offers a diverse variety of amenities for your entertainment such as Snell Isle Park Plaza. This family-friendly city has a wide spectrum of architectural features, ranging from classic European to Spanish-inspired designs. Take a look at our properties listings to see some of the current homes available and start finding just what you’ve been looking for in this delightful neighborhood!
 
Florida has many paradises for you to explore as you browse for your new home. Let The Price Group take away your stress by helping you find the hottest houses with opportunities for growth. We are happy to help you find the perfect home that’s within your budget and in the right neighborhood for you. Whether you want a quaint place to relax or a spacious home to raise your family, give us a call at 727-851-6189 today and let’s get started on finding your dream house.
 

Popular 2016 Home Design Trends

In recent years, home design has become even more important to homebuyers because the style of the home is a much more dramatic statement than the style of a person’s wardrobe – and far less changeable. While many design trends remain relevant from year to year, every year has its own popular trends that rise to the top of the list. Here’s a look at some of 2016’s most popular home design trends to keep in mind as you start looking for your next home or plan any upgrades or remodels in preparation to put your home on the market.
 

Creating Outdoor Living Spaces

 
Florida enjoys mild climates all throughout the year, so making the most of the temperate climates has always been and continues to be one of the most popular trends. Creating practical outdoor living spaces that segue into the interior living spaces more seamlessly is incredibly popular now, with enclosed porches and patios a popular option. Covered outside spaces are also popular, whether it’s a sheltered pool area or an awning that protects the patio from rainy weather.  In addition, more and more homes are being designed with the outside at the heart of the layout, with large bay doors that open out to the porch or patio from the living room or kitchen space an increasingly common sight.
 

KitchenMaking the Kitchen the Center of the Home

 
Another trend surging in 2016 is making the kitchen the central focus of the home. As the focal point moves from the dining room or den to the kitchen, homes with elaborate islands with seating for guests are becoming more and more common. These designs allow homeowners to entertain guests and enjoy the ambiance of wine and conversation over preparing a meal or appetizers. With the kitchen no longer relegated to the back of the home, stylish granite counters and colorful back splashes are also quickly becoming the stars of the space. Designer ovens, wine refrigerators and large, well-organized pantries are other attractive features being added, making the home more convenient for entertaining and more desirable for buyers.
 

Tiled Showers

 
From the living space to the bathroom, tiles are surging back as the design option of choice in the shower. The classic plastic and fiberglass insert showers have fallen from favor, especially as people have become more and more accustomed to them and seen how they can fall apart after years or use or with a slight slip or fall. Tiles provide a more elegant and permanent solution, creating a bathroom space that feels more luxurious and permanent. Available in a variety of colors, tiles can create stark spaces or blending different tile selections can create accented style and design. Plus, whereas a damaged plastic shower will often require a complete replacement, a broken or cracked tile can be replaced simply at a fraction of the cost.
 
If you’re looking for a home with these features, The Price Group can help. We have our pulse on the latest trends and the most desirable homes available all throughout St. Petersburg and the Gulf Beaches region. To learn more or to get started with your search, contact us today by calling 727-851-6189.