Friday, September 30, 2022

Inflation Spike – How it is Affecting Senior Homeowners




US inflation is officially up to its highest level in four decades, and the rising cost of living and other financial pressures have left seniors worried about their future.


I understand how inflation affects seniors and their retirement; reverse mortgage lender American Advisors Group (AAG) surveyed over 1,500 participants ages 60-75. All participants were selected randomly, with age and homeownership being the only qualifying factors.


The survey showed that accelerating inflation was a major concern for seniors, with two-thirds (66%) of older Americans thinking that it would negatively impact their retirement. More than half (53%) said that the cost of living is higher in retirement than they had anticipated.


Not only is life more expensive for seniors, but 36% said they have less money than they thought they would at this point in their life. Additionally, 37% of seniors feel like they would need to increase their cash low in order to retire comfortably.


“Many seniors in this country are discovering that their retirement plans aren’t working out as they had hoped, and inflation is only making that reality worse,” said AAG chief marketing officer Martin Lenoir. “With older Americans searching for ways to afford the cost of living and increase their cash low, it’s no surprise that so many are turning towards reverse mortgages.”


With housing prices at record highs, Lenoir said that seniors across the US are tapping into their home equity and using the funds to create a comfortable retirement.


According to the National Reverse Mortgage Lenders Association


(NRMLA), senior home equity exceeded $10 trillion in the third quarter of 2021. Homeowners 62 and older saw their housing wealth grow by 4%, or $396 billion.


“One of the biggest fears that workers and retirees have is running out of money in retirement and having to subsist solely on Social Security,” said NRMLA president Steve Irwin. “That’s why housing wealth should be considered with other financial assets when developing a comprehensive retirement plan.”



Learn more about how your tax bill relates to the City of Port St. Lucie.












 


 



Wednesday, September 28, 2022

BEWARE OF TESTERS & KNOW FAIR HOUSING LAWS




There has been a recent wave of lawsuits filed against Realtors® by testers.


 


There has been a recent wave of lawsuits filed against Realtors® by “testers,” which are groups that call Realtors® just to see if the Realtor® will violate a provision of the Fair Housing Act (FHA), even though the tester has no relationship with the Realtor® and is not interested in buying or renting the listed property. Courts have found that these testers have standing to sue as they have suffered injury.


Recent attention has been placed on the Housing Choice Voucher Program or “Section 8” vouchers. Several municipalities in Florida, including Broward County, have adopted laws prohibiting housing discrimination based on source of income. This means that it is illegal for a housing provider to keep a person out simply because that person is paying for housing with a subsidy or assistance like Section 8, or other benefits programs. If you receive an inquiry from a consumer asking about Section 8 vouchers or any Fair Housing provisions – a best practice response is to inform that caller that they are free to submit an application to lease/offer to purchase the property and that the landlord/seller makes all decisions regarding the lease/purchase of the property. Check your local ordinance for additional details and any relevant exemptions.


This is an evolving issue. Realtors® must be aware of and stay up to date on Fair Housing laws, in addition to the Florida Civil Rights Act, so they don’t face lawsuits.


Source: Florida Realtors®, Broward County, Florida Code of Ordinances, Chapter 16½.



Monday, September 26, 2022





Home repair grant funds available




Home repair grant funds available to low-income PSL residents




Qualified City residents in need of home repairs soon will be able to apply for funds to pay for these projects after Port St. Lucie was awarded the largest State Housing Initiative Partnership (SHIP) grant in its history.


The City of Port St. Lucie received $3 million, courtesy of the SHIP grant, awarded by the Florida Housing Finance Corporation. The City will allocate this funding for the PSL’s Homeowner Repair and Rehabilitation Assistance Program.


Port St. Lucie’s Neighborhood Service Housing Division will open the Homeowner Repair and Rehabilitation Assistance Program pre-application list at 9 a.m. Monday, Oct. 3, 2022, and the list will remain open until the maximum number of applications (60) has been reached.


Port St. Lucie’s Homeowner Repair & Rehabilitation Assistance Program is designed for low-income homeowners who need assistance to fund approved repair and rehabilitation projects for their primary residence. To apply, applicants must:



  • Be low-income

  • Have had their primary residence within Port St. Lucie for one year or more

  • Have an assessed home value of $358,308 or less

  • Be protected by a homeowner’s insurance policy

  • Be current on any mortgage payments


The City will provide up to $50,000 for approved home repairs for income-eligible homeowners. This program will provide 0% interest deferred payment loans (DPL), meaning no monthly payments are due, for health/safety/energy efficiency home improvements. The loans are forgiven over a 15-year period, according to the program guidelines.


These funds are utilized to make necessary improvements to ensure homes are safe, sanitary and meet current code requirements. Eligible repairs include correcting code violations, weatherization, roof, plumbing and electrical improvements, septic systems, etc. Manufactured homes, pool/hot tubs and illegal/non-permitted repairs or remodeling do not qualify. Applicants can view a list of frequently asked questions and more information about the program guidelines online at www.cityofpsl.com/housing.


Beginning 9 a.m. Monday, Oct. 3, 2022, interested and qualified persons can begin the process by filling out the required pre-application questionnaire at www.cityofpsl.com/housing. If an applicant cannot access the pre-application online, they may call the City to have someone assist them or come into City Hall for a printed copy. The City’s Neighborhood Services Department, Community Programs Housing Division, is available to answer questions, print a pre-application or review any of the questions with applicants by:



  1. Email: nsd@cityofpsl.com

  2. Phone: 772-344-4084

  3. In-person: City Hall, 121 SW Port St. Lucie Blvd., from 9 a.m. to 4 p.m., Monday through Friday.


Applicants who apply and meet all the eligibility criteria will be notified by City staff about the status of their application and any future steps in the processing of their file by telephone and/or email (if applicable).


When the maximum number of applications has been received, the City will publish a notice on www.cityofpsl.com/housing that the pre-application list has closed. The 60 applicants on the list will be processed in the order they are received. If additional funding is available, the City will re-open the pre-application list and notify residents at least two weeks before opening.




Friday, September 23, 2022

ST. LUCIE HOUSING INVENTORY RISES, SUPPLY REACHES 2.7 MONTHS






Just in! August 2022 released from Florida Realtors® detailing recent real estate activity in St. Lucie County. The reports compare year-over-year data. Here are statistics on single family homes.












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“Housing inventory continues to rise in St. Lucie County! We’re starting to see supply levels improve with the help of increasing interest rates and inflation. In August, active inventory rose by 124.4 percent to 1,625 listings, and supply of inventory increased 125 percent to 2.7 months,” said Carlos A. Melendez, President of Broward, Palm Beaches & St. Lucie Realtors®.


Inventory is the number of property listings that are active at the end of the month. Meanwhile, months’ supply of inventory is an estimate of the number of months it will take to deplete the current inventory given recent sales rates.


“Sellers, don’t let rising inventory levels deter you from listing your property. Yes, we have more supply entering the market, but St. Lucie County is still seeing intense competition among buyers. Our area is one of the most sought-after regions to purchase real estate in the country, and we see that through median home prices rising again with an increase of 22.7 percent to $390,000. Contact a local Realtor® today — they are the market experts and will serve as your advocate in the home buying or selling process,” continues Melendez.


August Market Reports: Single Family | Townhouses/Condos





Wednesday, September 21, 2022

Add a Touch of Lush With a Staircase Garden




Green is in when it comes to design, especially amongst the younger buying pool, and staircase gardens provide a unique, aesthetically pleasing look for those who want a touch of nature.


 







Staircases serve an important function both in and out of homes, but their ability to add aesthetic value to a space often goes unrealized. As the desire to bring nature into the home has increased in recent years, homeowners have found a new purpose for these transitional features: staircase gardens. Evoking whimsy, staircases adorned with potted plants or trailing vines add a pop of vibrancy and life to an otherwise overlooked space.


According to Pinterest’s trending searches, interest in staircase gardens is on the rise. Gardening and interest in houseplants, especially by millennials, have both experienced a boom during the pandemic as people have spent more time at home. All that time at home has also allowed people to look at spaces that don’t get used beyond their function, including staircases, but people are bringing them back into the fold using plants. “I think that they may be looking again at their spaces because they’ve been spending more time in their home environments,” says Mary Barensfeld, a Pittsburgh-based architect. “I think there’s something that draws people toward nature, whether that’s going for spending time outdoors or bringing nature into the home and working amongst nature.”


 






A woman sitting on a staircase looking at her cell phone



Mayur Kakade / Getty

Adding plants to a staircase offers a pop of green and a dose of nature.


 


Adorning staircases with greenery does more than create a cool vibe. It also encourages passersby to momentarily pause and acknowledge the space around them. “Anytime you have a plant somewhere as you walk by, you’re checking on it, right? To see if it needs any water, there’s a new leaf there that you didn’t notice last week,” says Maryah Greene, a plant stylist and founder of Greene Piece. “I love to put plants in any space where mindfulness can be entered into the equation, and stairs are a great place to do that as you move throughout your day,” she says. “It’s just a moment to check in on your space.”


A staircase garden might sound daunting, but can easily be created with just a couple of plants. Here’s what to know if your clients want to add a staircase garden to their homes.


Look Under the Stairs


Sometimes staircases have leftover space underneath that is open but not quite usable for anything else. “It’s a perfect spot to fill with something that doesn’t have the knickknack-y vibe, but it’s a good place to put plants,” says Barensfeld. These spaces receive less natural light, so consider shade-loving plants, like snake plants or maidenhair ferns, and make sure the plants can be easily watered.


 






The inside of an apartment with a small kitchen and staircase



Westend61 / Getty

One tall plant makes a big difference underneath a staircase, where little else might fit without creating clutter.






Small atrium under a staircase



DigitalStorm / Getty

For larger under-staircase spaces, a mini-atrium adds a bold statement of green.


 


The type and number of plants used under stairs will depend on the size of the space. A single, tall plant might work well for a space that’s small but possesses a decent height. Likewise, in larger spaces, adding more than one plant—or even a mini-atrium of plants—adds a bold statement while still embodying a minimalist look. If the staircase is a focal point in the home, plants help dress it up.


Use a Trailing Plant


Greene advises homeowners to keep stairs as clear as possible—no one wants to trip on a plant. Using a trailing plant to wrap around the railing of the stairs leaves the staircase open while also creating a beautiful space. Picking just a couple of plants that are “super long and vine-y” creates the illusion of “having this lush jungle on your staircase, but it’s only a couple of plants that are just really long,” says Greene.


Plants that typically work best for this include philodendrons, golden pothos and mini monstera (rhaphidophora). To execute this, homeowners should place a plant at the top of the stairs and let it trail down, shaping the plant around the railing. They can also place one plant at the top of the stairs and one at the bottom and have them meet in the middle, which works if the plants are really long.


 






A couple sits on the stairs together smiling and looking at a cell phone



Westend61 / Getty

Vine-y plants make great assets to stairs.


 


The best way to encourage length, Greene says, is to find the source of light. “If, on the bottom floor, you have a window, but on the top floor, it’s a bit darker up there, I recommend having that plant in the spot that’s the sunnier so that it can continue to grow, as opposed to having it at the top of the stairs, where there is no sunlight—that plant’s really going to struggle to grow downward,” she says.


Trailing plants work well for outdoor staircase gardens, too. For this locale, planting the vines in soil is key, advises Brandy Hall, founder of Shades of Green Permaculture. “They’re going to be less finicky because they have contact with the soil,” says Hall. “They’re going to get water, and they’re going to get nutrients. You don’t have to really think about them as much as you do with containers.” Plants like creeping figs are great to train against closed risers, while muscadines and evergreen clematis can work great with railings, depending on the conditions.


Keep Pot Size in Mind


As tempting as it may be for homeowners to arrange potted plants on their staircases, it’s important to remember to keep the steps as clear as possible. It can be done, though, if pot size is taken into consideration.


When plants come home from the plant shop, they should ideally be repotted into a container that’s an inch or two bigger than the nursery pot, says Greene. A pothos in a four-inch pot at the nursery, for example, should go into a six-inch pot at home. “You want to figure out the diameter of your steps and make sure that pot isn’t taking up way too much space on your stairs to prevent you from using those stairs,” says Greene. “Start smaller than you think, because plants grow, of course, and so as that plant continues to grow, you’re eventually going to pot it into something bigger every couple of years.”


 






Flowering, potted plants adorn an outdoor staircase



Barry Winiker / Getty

Make sure to keep the path clear on the stairs to avoid accidents by keeping pot size in mind.


 


Another cool way to use potted plants is to consider the WallyGrow planter system, which allows users to create plant walls with various hanging planters. “Their main focus is allowing you to create a living wall, or a live plant hanging anywhere in your home. I’d definitely recommend those; they’re awesome, they make watering easy. If you have hardwood floors, you’re not ruining those,” says Greene. They can be arranged on the wall along a staircase, leaving the railings and stairs clear.


Get Colorful


While green houseplants work well for indoor staircases—and some do have flowers or colorful leaves—outside staircases are great spaces to introduce pops of color. Homeowners can carefully arrange potted annual flowers to create a lively space. “I really love using bunching grasses in outdoor containers, because they have a lot of seasonal interest and they overwinter really well, even though they don’t stay green year-round,” says Hall.


 






Potted plants on stone steps outside a brown door



Potted flowering plants add pops of color to an outdoor staircase.



 


Bunching grasses like chasmanthium and river oats are especially great for this purpose. “They have really beautiful seed heads in the fall, and then they’ll stay golden during the winter and then come back to life in the spring,” says Hall.


With younger home buyers trending green and showing an uptick in interest in houseplants and gardening, staircase gardens are a great and relatively easy way to meet demand and bring the outdoors in or simply to dress up an underutilized space. They’re also a great tool for staging or helping your client set up their space once they’ve purchased a home.







 


Photo of Lia Picard sitting at a table, smilingLia Picard – Lia Picard is a lifestyle journalist based in Atlanta. Interior design is one of her main beats, including the spaces themselves and the people and trends of note in the industry. Her work appears in the New York Times, the Wall Street Journal, the Washington Post, and other national and regional outlets. Follow Lia and her work on Instagram @LiaPicard.



Monday, September 19, 2022

12 Tech Startups Vying for Glory in the Real Estate Space




At NAR’s iOi Summit this month, the annual Pitch Battle will aim to identify the next great innovation to help your business flourish.


 


Twelve technology startups in the real estate space with new offerings such as fractional ownership, home renovation and rental solutions are poised to shake up the real estate industry. These budding companies will take the stage later this month at the National Association of REALTORS®’ 2022 Innovation, Opportunity & Investment Summit in Los Angeles, competing in a “Shark Tank”–style Pitch Battle for crucial funding to widen their reach.


Each of the preselected companies will showcase their innovations live in a four-minute pitch about their product or service and how it can improve the real estate industry. Each company also will face a rapid-fire question-and-answer session from a panel of judges. The winner of the Pitch Battle will receive $15,000 and booth space at NAR’s annual conference in November, “NAR NXT, The REALTOR® Experience.”


“In today’s real estate ecosystem, innovation is accelerating, opportunity is exploding and investment is at a record high,” says NAR CEO Bob Goldberg. “At the iOi Summit, real estate professionals, investors and innovators gather to cultivate and champion the most impactful ideas that will disrupt the status quo and advance the industry.”


Second Century Ventures, NAR’s venture capital arm, hosts the Pitch Battle at the iOi Summit, which is being held on Sept. 28 and 29. The annual competition aims to help new property tech companies gain a foothold in the real estate space. These are this year’s Pitch Battle contestants:


Agently: An AI-powered coaching platform for real estate agents. It provides daily guidance and tools and offers results-driven action plans.


Arx: An automated underwriting and market intelligence platform for real estate developers and brokers. It helps pros source and evaluate real estate projects in minutes.


CubiCasa: An app for creating floor plans. Use an iOS or Android device to capture an indoor space in five minutes to create a more visual look for potential buyers.


Fractional: A social platform for co-investing in properties, sharing ideas and building a network. It helps people to co-own real estate with friends and other like-minded investors.


Inspectify: It connects real estate professionals and home buyers with qualified inspectors in their area to streamline the booking process. Schedule appointments in minutes and have direct communication using the latest technology.


Pacaso: It aims to make second-home ownership more accessible by lowering ownership costs and reducing hassle through fractional ownership opportunities. It provides a fully managed owner experience in fractional ownership transactions.


Prisidio: A secure, cloud-based vault that’s housed in one location, allowing users to share their valuable and important documents, such as birth certificates and insurance policies, only with those they trust. It’s simple, mobile and secure.


RentBase: Helps residential real estate agents by providing an interconnected bird’s-eye view of their property providers, listings and leads. Agents can access all of their data and automatically qualify and match leads to listings. They can also use it to maximize cashflow by leveraging the technology to uncover new opportunities.


Residently: A digital property rental platform that helps renters find their next home months in advance of a move. Use it to view key property documents, contracts, and essential home information, like building access codes.


Revive: A home renovation consultant that helps homeowners strategically repair and renovate their homes before selling to significantly increase their net gains. It assists homeowners with maximizing the value of their homes with no upfront costs.


Stake: The platform seeks to modernize investing in real estate for the average person. Stake aligns incentives between residents and owner-operator groups that are driven by residents’ actions. Incentivizes actions with cash back for the residents, empowering them to act on their financial journey.


Symba: A financial well-being tool made for real estate agents. It combines customer relationship management with banking and offers tools for customer support, managing deals and making financial decisions.



Friday, September 16, 2022

REALTORS® Are Volunteering and Donating More Money, Time to Charity




Real estate professionals are deepening their involvement in giving back to the communities, according to a new NAR report.


 


REALTORS® are building deep connections within their communities, giving more money and devoting more time to support numerous causes from neighborhood cleanups to fundraising for those in need. Eighty-three percent of the nation’s 1.5 million REALTORS® cite community involvement as an important component of their business plan, according to the National Association of REALTORS®’ newly released 2022 Community Aid and Real Estate (CARE) Report. The report highlights the monetary contributions and volunteer efforts of NAR members, broker-owners and REALTOR® association executives and staff.


Two-thirds of REALTORS® say they volunteer on a monthly basis, spending an average of eight hours per month giving back, the report shows. Further, 79% made charitable donations last year. REALTORS® were most likely last year to volunteer to deliver food to the elderly or help food banks with COVID-19 relief efforts, according to the report. Twenty-two percent of REALTORS® say they hosted an annual fundraiser for their local community or nonprofits.


 






Chart from NAR CARE Report





 


“REALTORS® are deeply involved in their communities, and this report shines a light on the great volunteer efforts by NAR members,” says NAR President Leslie Rouda Smith. “It is inspiring to see REALTORS® across the country continue to boost local charitable efforts, and I’m proud to be part of such a compassionate and caring group.”


Associations Encourage More Members to Get Involved


Charitable giving by REALTOR® associations has climbed 20% since 2020, the report shows. The typical REALTOR® association donated more than $12,000 to the community last year, up from $10,000 in 2020. Eighty-five percent of associations hold events that encourage their members to volunteer within their community, according to the report. At least half of the nation’s local and state REALTOR® associations planned volunteer projects for the week-long 2022 REALTOR® Volunteer Days event in June.


For example, Florida REALTORS® recently held a volunteer event called “Clean Up Florida’s Waters,” in which members across the state teamed up to clear more than 18,000 pounds of trash and debris from 36 miles of Florida waterways.


Additionally, NAR’s Good Neighbor Awards each year recognizes the extraordinary impact of REALTORS® in their community or beyond through volunteer work. The 2022 Good Neighbor finalists have been announced, and you can vote for your favorite cause through Sept. 30.



Friday, September 9, 2022

Treasure Coast 9-11 Remembrance Ceremonies This Weekend






The City of Port St. Lucie invites the public to join us for our annual 9/11 Remembrance Ceremony. Marking the 21st anniversary since the attacks on our great nation, this ceremony will honor and remember the lives lost and forever impacted on Sept. 11, 2001.


The Port St. Lucie Police Department, St. Lucie County Sheriff’s Office and St. Lucie County Fire District will assist with the ceremonies, with a special invocation by Chaplain Alice Delannoy, Port St. Lucie Police Department.


The ceremony will begin at 8:30 a.m. Sunday, Sept. 11, 2022, adjacent to the 9/11 monument at the MIDFLORIDA Event Center. Guests will be invited inside the Event Center following the ceremony for light refreshments. Those unable to attend in person are encouraged to watch live on the City’s Facebook Page.


We ask the members of our community to join us as we reflect, honor and remember our fallen neighbors, friends and loved ones lost on that fateful September day.





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The City of Fort Pierce will hold a virtual memorial service to honor CeeCee Ross Lyles who perished on Flight 93 when it crashed in a Pennsylvania field during the September 11, 2001, terrorist attacks.


The virtual memorial service will be hosted live through the City’s Facebook page, Sunday, September 11, 2022, at 9:30 AM. There will be a presentation of a wreath-laying and will have a moment of silence at Lyles’ dedicated statue located at the Liberty Garden. The public may tune in live at https://www.facebook.com/ftpierce/ to witness this virtual ceremony.


A life-sized bronze statue of the Fort Pierce native overlooks the Indian River. Born and raised in Fort Pierce, Lyles attended Fort Pierce Westwood High School and later served six years as a Fort Pierce Police Officer. In 2000, she moved to Fort Myers to pursue her dream of being a flight attendant.


This event open to the public and will be aired live on Facebook.

For more information, please call 772.467.3031 or visit: http://www.cityoffortpierce.com




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Annual 9/11 Memorial Tribute


Date: Sunday September 11, 2022

Time: 7:00 pm – 8:30 pm

Location: Cummings Library

Address: 2551 SW Matheson Ave Palm City FL

Price: Free

Category: Community



Annual 9/11 tribute and candlelight vigil in memory of all who were affected. Patriotic music, guest speakers, wreath laying.




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Born from the tragedy of 9/11, the Tunnel to Towers Foundation carries forward a legacy of courage and heroism. Built upon the mantra, “While we have time, LET US DO GOOD,” the Foundation supports our nation’s fallen and catastrophically injured first responders, military heroes and their families.


Please join us in supporting the Tunnel to Towers Foundation and America’s heroes by making a donation through this page. The process is fast, easy and secure. Thanks so much for your support, and please don’t forget to send this page to anyone you think might be interested in donating!


Tunnel To Towers 9/11 5K Run/Walk


Proceeds from the 5K benefit first responders. For more information, click here.



  • When: 7:30 a.m.

  • Where: Riverside Park, 3280 Riverside Park Dr., Vero Beach

  • Price: Free, donations welcome here




Thursday, September 8, 2022

HUD ANNOUNCES 2023 FAIR MARKET RENT LIMITS, EFFECTIVE OCTOBER 1ST




HUD’s Secretary said higher FMR limits will expand housing opportunities. Based on location, Fla.’s start at $623 for an efficiency and goes to $3,433 for 4 bedrooms.


 


The U.S. Department of Housing and Urban Development (HUD) published its Fair Market Rents (FMRs) for Fiscal Year 2023. FMRs, published annually, are an estimate of the amount of money that would cover gross rents (rent and utility expenses) on 40% of the rental housing units in an area. It’s the basis for other HUD calculations, such as Section 8 vouchers.


Nationally, HUD says FMRs will increase by an average of about 10%.


“One of the reasons that housing voucher holders are unable to use those vouchers is because the value of their vouchers has not kept up with rapid rent increases,” says HUD Secretary Marcia L. Fudge. “These new FMRs will make it easier for voucher holders … to access affordable housing in most housing markets, while expanding the range of housing opportunities available to households.”


Florida Fair Market Rents in 2023


HUD has posted a roster of nationwide FMRs broken down by state and, in many cases, metro area. To see a breakdown for Florida, visit HUD’s analysis and select “Florida” from the menu.


The chart further breaks down rentals by size, from efficiencies to four bedrooms. In Florida, the least expensive FMR ranges from $623 for an efficiency in Levy and Washington counties, up to $3,433 for a four-bedroom rental in Monroe County.


HUD is required by law to set FMRs every year. FMRs, which go into effect on Oct. 1, are used in several HUD programs, including to determine the maximum amount that a Housing Choice Voucher will cover.


 


Source: Florida Realtors®



Wednesday, September 7, 2022

FHFA: U.S. 2Q PRICES UP 17.7% – BUT OVER 26% IN FLORIDA




Of 100 metros tracked by government-backed mortgages, Fort Lauderdale-Pompano Beach-Sunrise and West Palm Beach-Boa Raton-Boynton Beach made the top 10.


 


It’s hard to underestimate the strength of Florida’s current home price increases in the second quarter of 2022 based on the Federal Housing Finance Agency House Price Index (FHFA HPI). Index scores are based on mortgages – more than half of all in the U.S. – backed by Fannie Mae and Freddie Mac. Of the 100 cities the index tracks, almost all Florida metros anchored the top 10 for year-over-year price increases, including two metros in the first and second spots. Only one Florida city, Miami-Miami Beach-Kendall, didn’t make the top 10, and it was No. 11. Overall U.S. house prices rose 17.7% year-to-year in the second quarter (4.0% quarter-to-quarter), but no Florida metro area had an increase less than 26%.


Top 100 rank of Florida metros and year-to-year price increase


1. North Port-Sarasota-Bradenton: 36.5%


2. Cape Coral-Fort Myers: 36.0%


4. Tampa-St. Petersburg-Clearwater: 29.6%


5. Jacksonville: 29.0%


8. Fort Lauderdale-Pompano Beach-Sunrise: 26.9%


9. West Palm Beach-Boa Raton-Boynton Beach: 26.4%


10. Orlando-Kissimmee-Sanford: 26.3%


11. Miami-Miami Beach-Kendall: 26.1%


 


Overall, however, the nation started seeing a slowdown in the rate of home-price increases.


“Housing prices grew quickly through most of the second quarter of 2022, but a deceleration has appeared in the June monthly data” says William Doerner, Ph.D., supervisory economist in FHFA’s Division of Research and Statistics. “The pace of growth has subsided recently, which is consistent with other recent housing data.”


Other 2Q findings








      • U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.




      • House prices rose in all 50 states and the District of Columbia year-to-year. The five areas with the highest annual appreciation were: Florida 29.8%, Arizona 25.5%, North Carolina 25.2%, Montana 24.9% and Tennessee 24.3%




      • The areas with the lowest annual appreciation were the District of Columbia 5.2%, North Dakota 10.6%, Louisiana 10.8%, Minnesota 11.3% and Maryland 12.0%.




      • House prices rose in all of the top 100 largest metropolitan areas over the last four quarters greatest in North Port-Sarasota-Bradenton (up 36.4%) and weakest in Washington-Arlington-Alexandria (up 9.1%).








 


Source: Florida Realtor



Tuesday, September 6, 2022

The Modern Garage Makes Space for More




The quest for organized storage and space for pandemic reprieve spurred interest in transforming garages, but nowadays the sky’s the limit on how the space is used and looks.


 


When it comes to a garage, most clients won’t require the space to house 12 cars like a recent client of Los Angeles architecture firm KAA Design Group. In fact, the client himself didn’t need that much space. He owned only two cars but was thinking about resale value on his home—knowing car collectors are in abundance in L.A.—when he opted for the extra-large garage.


He’s currently using the extra space as an art studio, says Grant C. Kirkpatrick, KAA architect and founding partner.


The need for flexible garage space, however, is on the rise. Before the pandemic, most homeowners wanted and needed less. They required space to park two cars and room for some seasonal items or tools. However, lifestyle changes and pandemic-fueled hobbies mean a garage needs a little more flexibility to meet demand.


Changes Influencing Garage Space


During the pandemic, many people took up outdoor hobbies, says Laurel Vernazza, home design expert at The Plan Collection. As a result, space to store outdoor gear such as kayaks, paddleboards, golf clubs and bicycles tops the list of garage needs.


The pandemic also fueled requests for more quiet spaces away from the main part of the home, and garages sometimes served as a retreat, a home office or a gym.


Though it may not rank as high as the desire for an updated kitchen or owner’s bathroom, having a finished garage with flexible space has moved up on many buyers’ wish lists.


Converting Garage Space


One advantage of converting a garage, especially when it’s attached to the home, is that it is typically an easy and affordable transformation. The space is often already outfitted with electrical outlets and weatherproofing, says New York City–based architect Victor Body-Lawson of Body Lawson Associates. “An attached garage is also easy to heat or cool,” he says.


 






Cluttered wood garage



©Garage Living

A client’s garage before its transformation.






Organized, clean, bright garage with lots of organized storage



©Garage Living

After it’s transformation, the garage is now bright, airy and includes an abundance of organized storage space.


 


A detached garage, however, is a bit of a challenge to convert, Body-Lawson says. “Expenses increase with big-ticket items of new windows, insulation, new floors, interior finishes and plumbing,” he says.


How often buyers undertake these types of changes often depends on a variety of factors: climate, property size, budget, age of the house and what neighboring homes offer.


An Overview of Demand for Garage Space


In historic mining town–turned–ski village Telluride, Colo., adding a garage can raise the home’s sale price by 20% or more, says salesperson Anne Brit Ostlund, with Mountain Rose Realty.


In contrast, the new nearby town of Mountain Village features many homes with a minimum of a three-car garage to make space for off-road vehicles, golf carts and town or sports cars, Ostlund says. Larger garages might add a 10% payback for resale, she says.


 






A red and white Ferrari themed garage



©Garage Living

Red Ferrari-themed garage






Green, white and gray Bentley-themed garage



©Garage Living

Green, gray and white Bentley-themed garage.


 


In still other communities such as Maplewood, N.J., having a garage is so important that removing one for whatever reason isn’t allowed unless it’s replaced. In the town, which has 25,000 residents, only 18 houses lack a garage, says Stephanie Mallios, a salesperson with Compass.


Besides functionality, Kirkpatrick says aesthetics are important for a garage. “Since our clients are most often coming home via their garage, it should be beautiful,” he says.


One trend is certain for new-home construction as well: Fewer new houses come without a garage of some kind. Developer Jeff Benach of Chicago-based Lexington Homes says he no longer brings to market a single-family house or townhouse without a garage that offers more than a single bay. He also won’t design one with a tandem layout, where cars line up behind one another.


Vernazza concurs that it’s rare for a new home to have room for just one car.


What Matters Most


Nowadays, want outweighs need when it comes to features that pique buyer interest. A finished, clean garage is likely to offer an uptick in value by presenting buyers with the plus of one less project to tackle, says Aaron Cash, founder of Toronto-based Garage Living, a franchise that transforms garages.


Clean and Uncluttered


The first step is to declutter the garage as you would any other part of the house rather than make it a dumping ground, says Cash. Though the garage was once a space to house dirtier objects like lawn maintenance equipment, homeowners would rather see a clean space as well. Montgomeryville, Pa.–based The Closet Works recommends using an antimicrobial or antibacterial finish on surfaces for cleanliness.


Door Styles


Nicer, more durable, and lower maintenance doors, sometimes constructed from galvanized metal that doesn’t rust or less costly vinyl, are preferred these days. Styles range from matching the rest of the house to setting a different vibe. For Mallios’ new two-car detached garage, she veered from her home’s Tudor style for mahogany carriage house doors and stucco facade, making it “more charming than my house,” she says.


 






A townhome complex



©Lexington Home

A garage that has a clean design, matches the home’s overall aesthetic is in high demand.


 


The good news is that the garage door shortage, which hampered upgrades and new-home construction during pandemic supply chain delays, is lessening, according to Scott Balogh, owner of Aero Garage Door in Libertyville, Ill. “Backlogs have gone from one year to 14 weeks, though delays remain for certain popular colors, styles and materials. Among the more popular looks are wood tones that match a front door,” he says.


 






Modern home with brown garage



©Manolo Langis

Garage doors add major aesthetic to the exterior of a home.


 


Garage door extras are also popular, including exterior lights, smart features used from a smartphone, and automatic controls since it’s more common for people to use their garage as an entry and exit from the house, Cash says. Cameras are also becoming more common, which helps with package delivery verification, Balogh says.


Windows


Windows have become popular, particularly in the upper third of the price range of garages, says Dan Timm, a salesperson with Baird & Warner in Libertyville, Ill. A cost-effective way to include them is to have them on the garage’s top panel or one just below, he says. “It breaks up what is otherwise a monolithic slab,” Timm says. But, in some houses and front-loading garages, they may be placed on a side.


 






Garage with large windows and an EV charging station



©Garage Living

Windows and EV charging stations are high on the list of wants.


 


EV Charging Stations


As interest in EV expands, garages need to accommodate home charging. More of Case’s clients ask to install one station or at least provide the rough-in for work to be finished later, and the vast majority of newly constructed houses are including one, he says. When Mallios built her new garage, she installed two.


Interior Floor and Walls


Those who want to spiff up their garages may start with a floor coating that’s similar to epoxy and makes the garage easier to clean, says Cash. A variety of colors and textures are available, he says. Designer Claire Ownby of Scottsdale, Ariz.–based Ownby Design often chooses from porcelain wood tiles, industrial carpet tiles or polished concrete. “It really depends on the aesthetics of the environment, but we are typically treating the floors with a more affordable and durable version of the interior of the house,” she says. Gray still ranks high in popularity since it’s neutral and hides dirt, according to Closet Works.


 






Garage with art gallery in it



©Manolo Langis

Finished garages, with finished walls and floors act as an extension of a home’s look.


 


Organized Storage


Storage and organization are top of mind for all spaces in the home, including the garage. Adding slats and other systems along walls or installing cabinets, drawers and bins, some with locks to keep out children, are popular options to add intentional storage space. Some also like to add overhead racks that they can reach with a pulley system or ladder. Having good visibility by adding more lighting than the typical single bulb makes finding stuff easier, Cash says.


 






A large garage with lots of wall and cabinet storage



©The Closet Works, Inc

Organized storage makes more ground space and prevents clutter.


 


Sal Graci of River Avenue Digital, which handles Closet Works’ marketing, makes other recommendations: leave empty space for future expansion, install only adjustable systems so changes can be made and store stuff off the ground to leave room for cars and avoid damage if flooding occurs.


Car Lifts


Commonplace in commercial garages, these have become more popular in residential and allow an owner or potential future owner to have a large car collection without adding square footage, Ownby says.


 






2208_GarageTrends_GarageLiving_Lifts



©Garage Living

Lifts add space and versatility.


 


BONUS: Garage or an Extension of the Indoor Space?


The garage is frequently becoming an entertainment destination with the clever moniker of the “gar-bar” or “new speakeasy,” Mallios says. One house Mallios recently sold at 18% above the asking price had a four-car garage with such a space. It helped its owners survive the pandemic, she says.


For some KAA Design clients, the garage becomes a man cave or equivalent. “The pride in their vehicle or vehicles and the car culture results in a desire for a garage that brings it all together—car display, workshop, lounge and bar, entertainment, etc. for solo reflection or friends and parties,” Kirkpatrick says.


A client of Timm’s installed a TV, sound system, color-changing LED lights, epoxy floor and collection of vintage car grills with lights inside the headlight spaces.


Also becoming more common is to convert part of the garage into an accessory dwelling unit so it can be occupied by family, grown children, college students or renters as home prices and rents rise, says architect Body-Lawson. Some ADUs also become offices for new businesses, he says.



Monday, September 5, 2022

Hilarious Scarecrow Competition Attracts Thousands to Village – LOOK




The Brinklow Scarecrow festival – SWNS.

Thousands of people flocked to a little English village to see homeowners decorate their properties with comical creations as part of an annual scarecrow competition.


Resident have been turning heads with their weird and wacky scarecrows placed outside their homes in Brinklow, Warwickshire.


More than 80 incredible displays have been erected throughout the picturesque village, including non-fictional creations like Prime Minster Boris Johnson relaxing on a deckchair, and fictional ones like ET and Elliot talking off from a front garden in a bicycle.


Elsewhere, Spiderman can be seen dangling from one family’s tree while a giant pairs of legs stick out of another.


The Minions, Mr. Bean, Edward Scissorhands, Shrek, The Queen and the characters from the Wizard of Oz make up some of the other funny displays.


This edition of the Brinklow Scarecrow Festival was special and well anticipated, as it was returning for the first time in three years following the COVID-19 pandemic.


The Brinklow Scarecrow festival – SWNS

“It’s just a good bit of fun and after the last couple of years we’ve had that’s what we can all do with,” said 66-year-old resident Peter Cox.


“Everybody goes all out to create these wonderful scarecrows, a lot of time and effort goes into it and if I’m honest, people get a bit competitive too.”


“But it’s all part of the fun and its lovely to see so many people come from all over to see them in our little village.”


Visitors were also treated to flybys from a Royal Air Force Hurricane fighter jet and by a rare Lancaster bomber, as well as live bands and children’s rides.


The Brinklow Scarecrow festival in Warwickshire – SWNS

It’s everything someone could want from a small town festival.


Now in its fourth year, the last event raised over £15,000 for charity.


SEE all the entries below… 










SCARE The Bad News Crows Away With This Charming Village Festival…



Friday, September 2, 2022

Survey: 94% of Sellers Don’t Disclose Property Defects




They admit hiding a known issue (property defects) with the home, which is against the law in most states. These are the 13 most common problems buyers find after closing a transaction.


 


Home buyers who waive the inspection contingency must rely heavily on seller disclosures to be informed about any potential problems with the property. But more than 90% of buyers say they found at least one issue with their home after the transaction that the seller didn’t disclose, according to a new survey from Cinch Home Services, a home warranty company. Even more alarming is that 94% of sellers admit to selling their homes without disclosing a known issue.


“Sellers failing to disclose home damage is against the law in most states. To ensure protection, prospective home buyers should ask for a completed seller’s disclosure in addition to conducting a thorough home inspection before closing on a new home,” says Cinch spokesperson Bella Valentini.


The top three problems buyers discovered after closing involved the electrical system, fixtures and plumbing. The survey shows the majority came from unpermitted repairs and upgrades, suggesting sellers should rethink doing some DIY jobs.









Chart of top inspection problems



Thursday, September 1, 2022

FCC brings additional relief




FCC brings additional relief before its contracted start date




Waste relief will begin three days earlier than contracted thanks to Port St. Lucie’s new waste hauler, FCC Environmental Services Florida, LLC. Beginning Thursday, Sept. 1, FCC and the City will deploy extra crews specifically to pick up trash left on the ground and in personal trash cans, but not in the City-issued carts.


This effort is meant to help alleviate the accumulation left behind by the City’s previous hauler, Waste Pro, before FCC officially begins its service on Monday, Sept. 5. These extra crews will not be collecting any trash in a city-issued carts because that waste will be collected on residents’ designated collection day beginning Monday by FCC’s automated trucks.


These advance teams will work Thursday through Saturday, and then throughout next week to clear waste ahead of FCC’s automated trucks.  Other efforts to clear the City of waste include:



  • FCC will continue to collect yard and bulk waste along with Optimum Services, Inc.

  • PSL’s leased waste collection trucks will continue to be dispatched to the most critical service needs as reported to 1PSL.

  • St. Lucie County Waste Bailing and Recycling Facility has extended its hours of operation to address the backlog of waste.



 


Beginning Labor Day, Sept. 5, FCC will begin its new automated collection process and its 17 automated side-loader garbage trucks will collect items inside the City-issued garbage carts, while the extra FCC and City crews will collect any remaining garbage.



Also beginning Monday, FCC will deploy 15 automated side-loaders for recycling, 10 rear-loaders, for yard and bulk waste, 2 clamshell trucks for yard waste and 4-rear loaders for bulk waste. In addition, six route managers have been assigned for coordinating all service levels.


To ensure a smooth transition process, residents can assist in the collection efforts by:



  1. Making sure the handle of the City issued recycling and garbage carts faces your house and the lid openings face the street.

  2. Keeping the garbage and recycling cart lids closed and placing garbage in the bag(s) inside the cart and recycling loose in the cart. If a household was using the recycling cart as a trash can, if possible, please rinse the cart before using it as a recycling cart. This cleaning is important to prevent residue from contaminating recyclables.

  3. Keeping all carts and bulk piles three (3) feet away from anything that may block the collection truck. This includes other carts, fire hydrants, parked cars, fences, mailboxes, trees, overhead wires and utility poles.

  4. Placing carts by the curb by 7 a.m. on their collection day.



 


The City is asking residents to help FCC Environmental Services Florida by being patient during this transition period. The drivers and helpers have worked hard to get to this point and are committed to bringing a consistent and reliable waste collection service back to Port St. Lucie.



Residents are encouraged to learn more at www.CityofPSL.com/SolidWaste.



 


Post Date:08/30/2022 6:19 PM