Richard Stein – Realtor®, Douglas Elliman, GREEN, SFR, CBR, eCertified®

Local Agent, Worldwide Marketing – Douglas Elliman Real Estate formerly Prudential Douglas Elliman Real Estate

6 out of 10 Counties With the Most Second Vacation Homes are in Florida

There are about 7.4 million vacation and second homes in the U.S., or about 5.6 percent of the total housing stock, according to a recent National Association of Home Builders analysis of 2016 national census data. Florida has the largest stock of second homes—1.1 million properties—followed by California, New York, Texas, Michigan, North Carolina, Arizona, and Pennsylvania.

Emerald Lake Resort Entrance

“The concentration of second homes is not simply restricted to conventional locations like beachfront areas,” the NAHB reports on its Eye on Housing blog. Second homes account for at least 10 percent of the local housing stock in about 916 counties in 49 states, according to NAHB’s research. Connecticut and Washington, D.C., were the two exceptions. The counties with the most second homes tend to be located in or near metro areas. The following 10 counties have the most second homes:

  1. Maricopa County, Ariz.: 113,513 second homes
  2. Palm Beach County, Fla.: 99,536
  3. Broward County, Fla.: 97,224
  4. Lee County, Fla.: 95,671
  5. Miami-Dade County, Fla.: 87,225
  6. Riverside County, Calif.: 76,331
  7. Pinellas County, Fla.: 65,281
  8. Barnstable County, Mass.: 63,225
  9. Collier County, Fla.: 61,050
  10. Suffolk County, N.Y.: 58,452
Source: 
Nation’s Stock of Second Homes,” National Association of Home Builders’ Eye on Housing blog

Housing Slowdown Unnerves the Fix-and-Flip Crowd

Fewer than 46,000 single-family houses and condos were flipped in the third quarter, the smallest number in three-and-a-half years

The flip-and-fix market is expected to make up 5.5% of home sales in 2018.
The flip-and-fix market is expected to make up 5.5% of home sales in 2018. PHOTO:GETTY IMAGES
By Ben Eisen

The pace of real-estate speculation is slowing, a sign of the darkening outlook in the U.S. housing market.

Small-time investors who flooded into real estate in the past decade to take advantage of low borrowing costs and rising home values are starting to cut back. The moves indicate that the market’s short-term risk-takers see limited upside—and possible turbulence—ahead.

The number of new home loans issued with terms of three years or less, typically used by investors looking to make a quick profit, dropped by 11% in the July-to-September period from a year earlier. It was the smallest amount since the second quarter of 2015, according to Attom Data Solutions, a real-estate data firm.

Higher interest rates have been…………………….

FULL STORY AT THE WALL STREET JOURNAL

Weekday Mornings Are Hot for House Hunting

House hunters like to search for homes online during their workday, a new survey shows. The peak times for consumers to search for home listings are between 9 a.m. to 5 p.m. on the weekdays. The most popular time is Friday at 10 a.m., according to a new analysis from real estate brokerage Redfin.

When shoppers search for homes online

© 10’000 Hours – DigitalVision/Getty Images

“Searching for a new home is like a job. Maybe that’s why people most often do it while they work,” Redfin notes in its analysis.

Nearly 64 percent more consumers are on Redfin’s website at 10 a.m. on Fridays than any other time, according to the study. Following closely behind, the next most popular window is 11 a.m. on Mondays.

On the flip side, researchers found that weekday evenings are unpopular times to search for homes. Weekends also failed to come close to the weekday mid-morning rush of browsers, researchers note.

“One possible explanation is the popularity of weekends for hitting the pavement and touring homes in person rather than through a computer or smartphone screen,” Redfin notes. “Another reason could be the rise in real estate technology tools,” such as notifications that are sent when new homes meeting the person’s preferences hit the market or there’s a price change. The temptation to take a peek at the new listings may be too great when a consumer receives a notification while they’re sitting at work in front of their computer or phone at work.

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