Entering 2024, many prospective home buyers were optimistic about the possibility of mortgage rates declining enough for them to broaden their options when house shopping. But entering the typically busy spring market, the Federal Reserve still hasn’t moved to slash the benchmark interest rate that tends to pull down mortgage rates with it. There’s still […]
The total value of the U.S. housing market climbed 5.3% last year to $47.5 trillion, rising by $2.4 trillion amid an ongoing shortage of homes, according to new data. Redfin reported that a major factor in the nation’s increasing home values is the reluctance of homeowners to list their properties for sale. The so-called “lock […]
The Breakers in Palm Beach was taken over by Ferrari’s this weekend with the successful completion of the 33rd annual Palm Beach Cavallino Classic. More than 2,000 people attended the event to see 150 Ferraris on display at the “Concorso d’Eleganza.” The event, organized by Conossa, is considered to be one of the largest Ferrari […]
This weekend, Jan. 25-28, I’ll be attending The Cavallino Classic at The Breakers in Palm Beach. Please join me for a beautiful weekend admiring the world’s most beautiful Ferraris in an exquisite resort setting. Since 1992, the Cavallino Classic has served as the foundation for preserving Enzo Ferrari’s legacy and is a great way to […]
The U.S. real estate market has been an obstacle course for many young people seeking to buy homes, particularly those with enough room for children. The combination of low home supply, rising prices and high mortgage rates poses persistent challenges for Millennials and Gen Zers beginning to start families and enter the housing market. The […]
The end of 2023 has brought the first hints of a softening of the housing market that could awaken buyer demand and entice more home owners to list their properties for sale. The average rate for the 30-year fixed mortgage fell again this week to 6.61%, now down more than a full point from 7.79% […]
In the spirit of holiday giving, Greg Englesbe Real Estate donated toys and resources at an event benefitting Marine Toys for Tots and Admirals Cove Foundation. “I was honored to support these two special organizations that bring smiles to children’s faces and strengthen our community,” said Englesbe. “When communities come together, we can make a […]
People interested in buying homes in the U.S. continue to see affordability erode in a market that has made ownership prohibitively expensive for the average American. The median U.S. home price stood at $420,000 in November, down a bit from $425,0000 in October but up about 1% from last November. The real challenge for buyers […]
High mortgage rates continue to result in slumping U.S. home sales, which fell another 4.1% in October and hit an annualized rate of 3.79 million units. The latest data from the National Association of Realtors show that the annualized rate is 14.6% lower than last year and comes up short of the 3.90 million units […]
The home affordability challenges facing a generation of Millennials are reminiscent of certain circumstances their Baby Boomer parents encountered in the 1980’s, according to some economists observing the current market. With 30-year fixed mortgage rates up around 8% and home prices kept high by tight supply, sales activity has hit a wall during the second […]
