Fort Lauderdale Housing Market: What's Cooling Down, What's Heating Up
A headline caught my eye this week. It read: “The Housing Market Isn’t Making Sense. What’s Going On.” It got me thinking about how much information is circulating out there. Numbers are flying around about inventory increases and price reductions (promising news for buyers)—and at the same time, there are also stats about record-high home prices (every seller’s dream). When I first sat down to write this, I planned to dispel some misinformation and explain what all those numbers really mean. Then it hit me—the headlines and reports you are seeing all reference housing market stats nationwide. And when buying or selling real estate, the most important data is hyperlocal. So, let’s take a look at what happened in June 2024 housing market in Fort Lauderdale. Fort Lauderdale Housing Market Report for June 2024 Single Family Homes: Data at a Glance Condominiums: Data at a Glance The housing market may seem confusing right now, but with the right information and a focus on local data, you can navigate it confidently. For an even more personalized data report for your home or neighborhood, reach out to me here. Calendly.
Top 10 Affordable Renovation Projects That Attract Buyers
When it comes to selling your home, making a great first impression is crucial. But what if you don't have the budget for a major renovation. Luckily, new data from Zillow and Thumbtack reveal that you don't need to break the bank to boost your home's appeal. "Certain low-lift projects can deliver a high payoff because they elevate a home in the mind of a buyer," said Amanda Pendleton, Zillow's home trends expert. Here are the top 10 no-demo renovation projects of 2024 that can make your home stand out in the market and attract more buyers. #1—Window Box Who doesn't love a pop of color and greenery? Window boxes are a classic way to enhance your home's curb appeal. These charming containers for flowers, plants, or herbs can be installed just below the window sill, instantly bringing new life to your home’s exterior. Zillow stats: Homes with a window box receive 48% more saves and 52% more shares per day compared to similar homes without this feature. Average national cost: $100 to $150 for professional installation and $15-$900 for materials #2—Open Shelving Open shelving has become a hot trend in home decor, with closet systems and shelving installations up 31.5% year over year according to Thumbtack. It's a great way to display your favorite items while creating an airy and modern look. This project can be a DIY endeavor or you can hire a professional for a custom built-in. Zillow stats: Homes with open shelving receive 37% more saves and 45% more shares per day compared to similar homes without this feature. Average national cost: $275 for professional installation (excluding the cost of shelves) #3—Painted Brick If you have a brick exterior, consider giving it a fresh coat of paint. A new color can completely transform the look of your home and increase its curb appeal. Zillow stats: Painted brick homes receive 31% more saves and 39% more shares per day compared to similar homes without fresh paint. Average national cost: $4,600–$7,600, including labor, material and equipment #4—Vintage Charm Vintage elements can add a unique touch to your home. Think about incorporating vintage light fixtures, hardware, or even furniture. Not only does it add character, but it can also save you money compared to buying brand new items. Zillow stats: Homes with vintage touches receive 28% more saves and 31% more shares per day on Zillow compared to similar homes without them. Average national cost: Vintage decor costs vary, but you can find great pieces for less than $100. Vintage crown molding, for example, costs between $2 and $50 per linear foot and can make ceilings appear higher while adding architectural interest. #5—Outdoor TV An outdoor entertainment area can significantly boost your home’s value. One easy way to create this space is with an outdoor TV. Installations have risen 12.7% year over year, making it a popular addition for many homeowners. Zillow stats: Homes with an outdoor TV get 28% more saves and 26% more shares per day than those without. Average national cost: $175-$200 (this can increase depending on electrical capabilities and weatherproofing) #6—Picket Fence It may be part of “The American Dream” stereotype, but a white picket fence is a timeless feature that continues to boost curb appeal. Added bonus: it provides a fenced-in yard for pets, a feature many buyers appreciate. Zillow stats: Homes with a picket fence receive 27% more saves and 31% more shares per day than yards without a fence. Average national cost: $7–$45 per linear foot #7—Pergola As outdoor living becomes more important (and summers hotter and hotter), adding a pergola can provide much-needed shade and a stylish gathering space. Zillow stats: Homes with a pergola get 20% more saves and 24% more shares per day than those without. Average national cost: $3,600 for a 10-by-10-foot pergola, including labor and materials #8—Fire Pit A fire pit can make your backyard a cozy retreat for summer nights. This DIY-friendly project can be completed at a low cost, providing an inviting outdoor feature. Zillow stats: Homes with fire pits see 19% more saves and 23% more shares per day than those without. Average national cost: Under $1,000 (depending on the kit purchased) #9—Outdoor Sound System A sound system is another way to start (or add to) an outdoor entertainment area. A little music can help set the tone for any type of gathering. If you bundle this project with an outdoor TV, it could help you save on labor costs, as they can be set up at the same time. Zillow stats: Homes with this feature see 18% more saves and 19% more shares per day. Average national cost: $500-$2,000 depending on the system #10—Smart Lighting Upgrade your home's lighting with smart technology. This modern feature can make your home more attractive and functional. Zillow stats: Homes with smart lighting get 18% more saves and 23% more shares per day than those without. Average national cost: $308 for installation Conclusion These projects can make a significant impact on your home's appeal and market value. And the best part is, no reno needed! “These features bring a wow factor to a home or they serve as a signal that a home is up-to-date, well-maintained or move-in ready,” said Pendleton. “When it's time to sell, these features may ultimately help a home sell faster or for more money, because there will likely be more competition for that home among buyers.” Whether you're looking to sell soon or just want to enjoy some new features, these upgrades are worth considering. Remember, small changes can make a big difference!
How to Get the Best Home Insurance at the Best Price in Fort Lauderdale
Now, more than ever, having the right home insurance is essential. But with rates on the rise, how do you ensure you're getting the best coverage without breaking the bank? Let's explore the ins and outs of home insurance and uncover some strategies to secure the best deal for your home in Fort Lauderdale. Understanding the Rising Costs of Home Insurance Since 2019, home insurance rates have surged by 37.8% across the United States. Several factors contribute to this rise: Inflation and Home Prices: As home prices increase, so does the cost to insure them. Inflation has also driven up the cost of building materials, making repairs more expensive. Natural Disasters: Climate change has led to more frequent and severe natural disasters, resulting in higher claims and, consequently, higher premiums. Insurance Company Costs: Insurance companies are facing higher costs to repair homes and are passing these costs on to consumers. While this is news no one wants to hear, there are things you can do to secure a lower rate. Let’s take a look. How to Find the Best Home Insurance Rates 1. Shop Around and Compare Quotes Just like you wouldn't buy a house without looking at a few options, don't settle for the first home insurance quote you get. Compare quotes from multiple providers to see who offers the best rates for the coverage you need. I can help connect you with vetted home insurance representatives in Fort Lauderdale. 2. Bundle Your Policies Many insurance companies offer discounts if you bundle your home insurance with other policies, such as auto insurance. This can lead to significant savings and simplify your insurance management. 3. Improve Your Home's Security Insurance companies often provide discounts for homes with enhanced security features. Installing alarm systems, smoke detectors, and deadbolt locks can reduce your premium. Some insurers even offer discounts for eco-friendly home upgrades. 4. Increase Your Deductible Opting for a higher deductible can lower your monthly premium. However, ensure you choose a deductible that you can afford in case you need to make a claim. 5. Make Strategic Home Improvements Insurance companies look at the age and condition of your property—and pay close attention to exterior features like the roof, windows and doors. These renovations can help you lower your home insurance rates. Adding features like storm shutters or upgrading electrical systems can also make a difference. 6. Maintain a Good Credit Score In many states, insurance companies use your credit score to determine your premium. A higher credit score can result in lower rates. Make sure to pay bills on time, reduce debt, and monitor your credit report for any errors. 7. Review Your Coverage Annually Your insurance needs may change over time, so it's essential to review your coverage annually. Ensure that your policy still meets your needs and that you're not paying for unnecessary coverage. Conclusion Securing the best home insurance at the best price requires a bit of research and strategic planning. By understanding the factors driving up insurance costs and taking proactive steps to reduce your premium, you can protect your home without overspending. Remember to review your policy regularly and stay informed about changes in the insurance landscape. Your home is one of your most valuable assets—make sure it's adequately protected.
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