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Russie Weidl
REALTOR®, PA, GRI, ASP, REOS, CDPE
7015 County Road 46A
Lake Mary, FL 32746
Phone: 407-721-8822
russie@watsonrealtycorp.com

Russie Weidl, REALTOR®, PA, GRI, ASP, REOS, CDPE is a Graduate of the Real Estate Institute. Russie currently works for Watson Realty Corporation in Lake Mary Florida. She is also an Accredited Staging Professional (ASP), Real Estate Owned Specialist (REOS) and a Certified Distressed Property Expert (CDPE). Russie has been the recipient of many awards throughout the years for excellence in her profession. Russie received The Gold Pinnacle Award every year for the last 11 years. It is given to Realtors of Watson Realty Corporation who achieve $10 million to $25 million in sales.  In 2016, Russie achieved over $21+ Million in residential sales.

For the eleventh year in a row she was recently awarded the FIVE STAR Best in Client Satisfaction Real Estate Agent in Lake Mary, Florida, and named one of the Top Hot 100 Real Estate Professionals in Orlando, Florida.

Buyers: Looking for a new home? Use Quick Search or Map Search to browse an up-to-date database list of all available properties in the area, or use my Dream Home Finder form and I'll conduct a personalized search for you.
Sellers: If you're planning to sell your home in the next few months, nothing is more important than knowing a fair asking price. I would love to help you with a FREE Market Analysis. I will use comparable sold listings to help you determine the accurate market value of your home.

 

 

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Real Estate News!!!

Latest Realty News from NAR

REALTORS® Expect Home Prices to Increase by 4% in the Next 12 Months

In a monthly survey of REALTORS®, respondents are asked “In the neighborhood(s) or area(s) where you make the most sales, what are your expectations for residential property prices over the next year?

Among the respondents, the median expected price change is four percent. The chart below shows median expected price change by state based on survey responses collected during February–April 2018[1], according to the  April 2018 REALTORS® Confidence Index Survey

Respondents from the states of Washington, Oregon, Idaho, Nevada, California, Utah, Wyoming, Colorado, and Wisconsin expect the highest price growth in the next 12 months, with the expected median price growth at more than five to nearly eight percent.

Owing to tight lack of construction, house prices have increased steeply since 2012 compared to the growth in income. Nationally, the median price of U.S. existing homes sold was 68 percent higher than the level in January 2012, the year the housing market started to recover solidly.  Meanwhile, wages have increased only 15 percent since then.

Based on the FHFA House Price Index at the state level, the strongest price growths from 2012 through 2017 were in the West region such as Nevada (102 percent), California (85 percent), Arizona (76 percent), Oregon (74 percent), Idaho (70 percent), Washington (68 percent), Colorado (68 percent), Utah (65 percent). Home prices have also increased steeply in Florida (73 percent), Michigan (71 percent), and Texas (47 percent).

Use the data visualization below to view median listing prices in April 2018. Red areas are areas where prices are higher than the U.S. median home price growth. Hover on the map to view the historical median listing prices of properties listed on Realtor.com from June 2012 through April 2018.[2]

MedianPrice_DB3

[1] Because each month’s survey asks about the outlook in the next months, the responses collected from January-March 2018 covers the outlook for January 2018-March 2019.

[2] Realtor.com data is freely available and can be download from https://www.realtor.com/research

Older Boomers: Most Satisfied Buyers Purchasing Forever Homes

Older Boomers, buyers aged 63 to 71 years, made up 14 percent of all home buyers in 2017. The median age for this group was 66 years old and they were born between 1946 and 1954. Within this group, they had the second largest share of single female buyers at 22 percent. Their primary reasons for purchasing a home, more than other generations, were the desire to live closer to friends and family (25 percent), followed by retirement (15 percent).

Combined, Older Boomers owned the highest share of investment (nine percent) and vacation (seven percent) properties. Equal to the Silent Generation, Older Boomers were the most likely to purchase homes in a small town (27 percent) and in a rural area (11 percent).

Compared to other buyers, they moved the greatest distances at a median of 30 miles. Older Boomers were the least likely to purchase homes for the quality of school districts or convenience to schools. Rather, they purchased homes for the quality of the neighborhood and for convenience to friends and family. This age group found commuting costs as well as windows, doors, and siding installation equally important. Overall, Older Boomers were very likely not to make compromises on the home when they purchased (47 percent), citing that they were never moving and it was their forever home (27 percent).

In their home search process, Older Boomers were very likely to drive by homes and neighborhoods and they were the least likely to find the paperwork a difficult step. Older Boomers were the most satisfied with the home buying process at 93 percent.

Older Boomers’ income was below the median income of all buyers ($88,800) at just $80,700 and they purchased homes at a median price of $239,200. Older Boomers were the most likely to use the proceeds from the sale of a primary residence as the source of their downpayment (56 percent) and from an IRA account (five percent). They were the largest group of home buyers to save for a downpayment for more than two years (30 percent).

Older Boomers were the third largest share of home sellers at 22 percent in 2017. The median age for an Older Boomer seller was 67 years. They had the second lowest median income at $80,700. They were the most likely to sell to be closer to friends and family (28 percent) and for retirement (19 percent), and at a median distance of 39 miles from the home they recently purchased. They were also very likely to sell when they wanted to (94 percent). They receive the highest equity at 46 percent and second highest dollar value at $86,000.

April 2018 Housing Affordability Index

At the national level, housing affordability is down from last month and down from a year ago. Mortgage rates rose to 4.66 percent this April, up 13.4 percent compared to 4.11 percent a year ago.

  • Housing affordability declined from a year ago in April moving the index down 8.8 percent from 159.8 to 145.8. The median sales price for a single family home sold in April in the US was $259,900 up 5.5 percent from a year ago.
  • Nationally, mortgage rates were up 55 basis point from one year ago (one percentage point equals 100 basis points), while median family incomes rose 2.8 percent.

  • Regionally, the West recorded the biggest increase in home prices at 6.4 percent. The South had an increase of 5.0 percent while the Midwest had a gain of 4.1 percent. The Northeast had the smallest incline in price of 2.5 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The West had the biggest drop in affordability of 9.4 percent. The South and the Midwest both had a decline of 8.0 percent. The Northeast had the smallest drop of 5.4 percent.
  • On a monthly basis, affordability is down from last month in all four regions. The West had a decline of 0.8 percent followed by the Northeast with a dip of 2.0 percent. The South had a drop of 2.6 percent followed by the Midwest, which had the biggest; dip in affordability of 6.0 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 183.6. The least affordable region remained the West where the index was 104.6. For comparison, the index was 147.9 in the South, and 160.2 in the Northeast.

  • Mortgage applications are currently up 4.1 percent. Consumer confidence remains strong. Home prices are up 5.5 percent while median family incomes are only growing 2.8 percent. New home construction is being held back by increased material cost and labor shortage.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

Testimonials Page

July 5, 2017 Russie had her work cut out for her on this one, little did she know. We were under contract within 3 weeks of listing, but that fell through due to financing, then had 2 more contracts that fell through. The 4th time was the charm. She worked with us on our strategy throughout the process and was very receptive to our requests. She is very responsive, and we stayed in close contact the whole time, through to closing. We enjoyed working with Russie! Crystal Hanley
June 30, 2017 We encountered a very challenging situation in selling our Mother's home. Russie handled the situation very professionally and the house sold relatively quickly. It was Russie's exceptional experience and know how that made the difference. We feel very comfortable in recommending Russie as a realtor to anyone interested in selling or buying a home. Paul Ingwalson
June 29, 2017 Russie helped me sell my house and buy my new property. It was a long involved deal which required much patience and experience. Russie helped me every step of the way. Including preparing my home for sale and how to handle a difficult seller on the other end of the deal. I highly recommend her. Philip W
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