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- Foreclosures on the rise in Florida ☀️
We hit 500 subscribers yesterday 🥳! Thank you for helping to grow this community. Please share Keys with others who are interested in learning more about real estate. Today’s top stories…
Florida's inventory is surging and foreclosures are on the rise
Expert photo tips from a pro to make your listing pop
An agent stumbles upon a hidden room with a creepy view
🔥 Deal of the Day! 🔥: 3 bd | 5 ba | Glenville, NC
Today’s mortgage rate (30 Yr. Fixed): 6.91%
Florida's housing market is a complex landscape, with inventory levels up 34% year-over-year, the highest in the nation. This surge is particularly concentrated in Southwest Florida, in areas like Cape Coral and Fort Myers, which are still reeling from the impact of Hurricane Ian. Despite the challenges faced by the national commercial real estate (CRE) market, experts remain confident in South Florida's ability to weather the storm, thanks to its unique resilience and ability to buck trends.
However, foreclosures are on the rise in Florida's hotspots, with Lakeland, Orlando, and Miami leading the pack. South Florida, in particular, has seen a nearly 50% increase in foreclosures compared to February 2022. As Florida's population continues to boom, the demand for CRE is skyrocketing, with home builders scrambling to keep up. The state's strategic location and economic growth fuel the fire, driving prices to historic highs. In Miami-Dade, the median sales price for a house is $650,000, while condos fetch $420,000. Broward is not far behind, with houses selling for $625,000 and condos for $290,000.
In a jaw-dropping display of luxury real estate, a mystery buyer recently dropped $120 million on a penthouse at the Shore Club, an Auberge-branded luxury condo in Miami Beach. This translates to a staggering $11,000 per square foot, showcasing the high-end demand in the market.
Unlocking the Secrets of Stellar Real Estate Photography
When it comes to capturing the essence of a home for a real estate listing, Harrison White of Mason Taylor Associates has a wealth of knowledge to share. His first step is to assess the space and determine what cosmetic fixes could make a significant impact. A fresh coat of paint or replacing worn baseboards can go a long way in refreshing a room.
Next, White emphasizes the importance of decluttering and organizing. Potential buyers are known to peek into cabinets, closets, and even that infamous junk drawer. By ensuring these spaces are tidy and well-organized, sellers can make a positive impression on house hunters.
Staging is another crucial aspect of preparing a home for a photoshoot. White recommends interviewing different stagers to find the one that best captures the vibe of the home. Collaborating with the right stager can help create an inviting ambiance that appeals to a wide range of buyers.
Depersonalizing the space is also essential. Removing family photos and personal items allows potential buyers to envision themselves living in the home. Stagers can then add artwork and decor to fill in any gaps and create a neutral, yet welcoming atmosphere.
On the day of the photoshoot, White suggests having agents on-site to guide the process. They can help remove any distracting elements and ensure that every room is highlighted from the best angles. Taking multiple photos of each space allows for a thorough review before the listing goes live.
Finally, experimenting with lighting can make a significant difference in the overall feel of the photographs. Testing shots with the lights on and off can help determine which option creates a warmer, more inviting ambiance. Homes with ample natural light may benefit from shooting with the lights off, while others may require a combination of artificial and natural lighting to achieve the desired effect.
By following these expert tips, sellers can ensure that their home's listing photos stand out from the crowd and attract the attention of potential buyers.
Real Estate Agent Finds Creepy Hidden Rooms Like This One All the Time
When it comes to the world of real estate, sometimes agents stumble upon unexpected and even unsettling discoveries. Lauren Rockel, a housing broker from Grand Rapids, Michigan, recently shared one such finding on her TikTok account, where she has over 820,000 views.
In the video, Rockel showcases a peculiar cabinet inside the bathroom of a 70s-era listing she's preparing to show to potential buyers. Upon noticing hinges on the outside of the built-in cabinet, her curiosity was piqued, and she decided to investigate further.
"I find secret rooms all over, they're one of my favorite things to find when showing homes," Rockel told The Post. However, what she found behind this particular cabinet was far from the usual storage space she expected.
As she opened the cabinet door, Rockel discovered a hidden room with a rippled glass window facing directly towards the bathroom, providing an unobstructed view of the shower and tub. "Look at how creepy this is. Let me know what you would think if this was in your house," she said in the video, clearly unsettled by the discovery.
Rockel's followers were quick to share in her horror, with one person commenting, "Um... that's not a 'secret room' that's from before secret camera era." Another follower dubbed the space a "creeper room," while a third expressed their discomfort with the idea of someone being able to see into the bathroom.
This peculiar finding serves as a reminder that real estate agents often encounter unexpected and sometimes disturbing features when showing homes. It also highlights the importance of thoroughly inspecting a property before making a purchase, as hidden rooms and unusual design choices may not always be immediately apparent.
🔥 Deal of the Day! 🔥
Price: $1,300,000
Located in the serene landscapes of Glenville, NC, this exquisite property offers unparalleled access to natural beauty, modern amenities, and the perfect blend of comfort and adventure, making it an ideal getaway for those seeking a peaceful retreat with the luxury of home.
Airdna data:
Estimated monthly payment: $7,546/month (if financed)
Estimated monthly revenue: $8,025/month
Cashflow excludes additional operating expenses. Always confirm local regulations, HOAs and permits before purchasing a property.
See you tomorrow!
✍️ Brett