Tami Savage, Realtor

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Home Is Where the Heart Is [INFOGRAPHIC]

April 16, 2021 By Tami Savage

Home is where the heart is.  There's no doubt about it; homeowners love their homes. Here are a few stats that show just how important our homes have become over the past year.  70% of homeowners feel emotionally attached to their home. 83% say their home has kept them safe during the COVID-19 pandemic. 64% say living through a pandemic has made their home more important to them than ever. 91% say they feel secure, stable, or successful owning a home. Owning a home provides a sense of safety, security, and accomplishment.  Let's connect to move your homeownership goals forward today.  Source: Unison

Some Highlights

  • There’s no doubt about it: homeowners love their homes, and that feeling has become even more important over the past year.
  • The vast majority of homeowners say they’re emotionally attached to their home and that it has kept them safe during the COVID-19 pandemic.
  • Owning a home provides a sense of safety, security, and accomplishment. Let’s connect to move your homeownership goals forward today.

Tagged With: First Time Home Buyers, For Buyers, Infographics, Rent vs Buy

Your Tax Refund and Stimulus Checks May Help You Reach Your Homeownership Goals

April 15, 2021 By Tami Savage

Your Tax Refund and Stimulus Checks. May help you reach your homeownership goals. If you're ready to buy your first home, your tax refund and stimulus savings may cover more of a down payment than you realize. That's because many first-time buyers can purchase a home with as little as 3% down. This year, Americans can expect an average refund of $2925 when filing their taxes. And if you were able to save your Economic Impact Payments, that may put you even closer to homeownership too. Let's connect to discuss how these savings could add up big for your home buying goals this year.

Tagged With: Down Payments, For Buyers, Tax Refund, Video

Why This Is a Great Year to Sell Your Vacation Home

April 15, 2021 By Tami Savage

Why This Is a Great Year to Sell Your Vacation Home

As vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports:

“Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacation home, investment property, etc.) account for 15 percent of new single-family home sales.”

It’s not surprising that there’s an increase in demand for vacation homes. The majority of Americans are realizing they prefer to be around small groups, as shown in a recent survey from The Harris Poll:

“Social distancing taught consumers new things about how they like to socialize; (75%) said, ‘during COVID social distancing I realized I preferred smaller social gatherings at home or at friends’ place.’”

Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round. The NAHB explains:

“Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area.  More fundamentally, second home demand may also be benefitting by an acceleration of retirement plans, as well as stock market gains.”

Bottom Line

The demand for vacation homes has increased and will continue to rise as we head into summer. If you own a house in a destination area and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Let’s connect to discuss your opportunities in our local market.

Tagged With: For Sellers, Housing Market Updates, Luxury Market

93% of Americans Believe a Home Is a Better Investment Than Stocks

April 14, 2021 By Tami Savage

93% of Americans Believe a Home Is a Better Investment Than Stocks

A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.

Do Americans believe a home is a better investment than stocks?

In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks.

Here’s how the results break down:

Is buying a home or buying stocks the better investment?  93% say buying a home, 6.7% say buying stocks.  Source: SCE Housing Survey

The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer):

Reasons why a home is a better investment than stocks: Housing Prices less volatile 55.7%. desired living environment, provides stability 53.9%. tax reasons 47.5%. Saving from rents sufficient to cover costs 43.9%. leverage 43.3%. higher housing returns 38%. commitment device 33.8%. locks in housing costs 28.8%. Source: SCE Housing Survey

Bottom Line

The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The Liberty Street Economics blog put it best by saying:

“Housing represents the largest asset owned by most households and is a major means of wealth accumulation, particularly for the middle class.”

Tagged With: First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs Buy

Ready for a new type of tropical paradise lifestyle? 🌴

April 13, 2021 By Tami Savage

🌊 HUGE pool (largest in the U.S.)
🏫 Charter Schools/Academies
🚸 Shaded Tot Lot
🐾 Dog Park
🌐 Every home gets high-speed internet & cable
🏡 Homes start in the 200s And soooo much more!

Transcript:

So let's go on an adventure.
In North Tampa Bay, about 10 minutes off I-75.
This beautiful lagoon community awaits you.
Hi, I'm Tami Savage with EXP Realty.
This lagoon features seven and a half acres of beautiful, crystal clear blue water, as you can see.
A slide, kayaking, paddle boarding and so much more.
There's also a K through 8 Prep Academy, as well as a high school, 9 through 12 Prep Academy, coming in the 2022 to 23 school year.
This master plan community is all about the Florida lifestyle without living on the coast.
Homes start in the 200s and go up to over a million.
With six different builders, it gives you a variety of floor plans to choose from to find the right home that fits for you.
I'm Tami Savage with eXp Realty and I'm here to help.
Thanks, have a great day.

Tagged With: Video

Some Buyers Prefer Smaller Homes

April 13, 2021 By Tami Savage

Some Buyers Prefer Smaller Homes

Over the past year, we’ve had plenty of opportunities to reflect on what we consider most important in our lives. The place we call home is one of the biggest things many of us are reevaluating. George Ratiu, Senior Economist at realtor.com, shares:

“The very nature of the pandemic, through the health implications, social distancing, and need to isolate, has really brought a central focus on the importance of home for most Americans…In a sense, it has elevated real estate markets as a centerpiece of our lives.”

For some, this has spurred an interest in making a move to a home that better suits our changing needs. In a recent study on today’s homebuyer preferences, the National Association of Home Builders (NAHB) states:

“When asked more specifically how the pandemic may have impacted their preference for home size…21% or about 1 out of every 5 buyers, do want a larger home now as a direct result of the health crisis, while another segment – 12% – would prefer a smaller one instead.”

While you might expect more time at home to lead to a need for more space, it’s interesting that a significant portion of homeowners actually want less. For those who own larger homes right now and have a desire to move, today’s housing market is full of opportunities. Danielle Hale, Chief Economist at realtor.com, explains:

“In a real estate market that is tipped in the favor of sellers, boomers and older homeowners are really the ones holding the cards…Those who are selling homes can use the profits to help them buy new ones.”

As a homeowner today, you likely have equity that can be put toward the purchase of your next home. With the equity growth homes have seen over the past year, you may have more than you think, which can help significantly as you make a move into your next home. According to a report from the National Association of Realtors (NAR):

“Home sellers cited that they sold their homes for a median of $66,000 more than they purchased it. Sellers 22 to 30 years gained the least at $33,400 in equity compared to sellers 66 to 74 years gained $100,000 in equity as they likely had lived in their homes for a longer period of time.”

Despite the benefits of growing home equity, some homeowners are still hesitant to move and could be considering remodeling or making changes to their current space instead. However, if you’ve thought about aging in place rather than downsizing, you may want to reconsider. The U.S. Census Bureau points out:

“Of the nation’s 115 million housing units, only 10% are ready to accommodate older populations.”

If your house is no longer the best fit for your evolving needs, it may be time to put your equity to work for you and downsize to the home you really want.

Bottom Line

Today’s housing market favors homeowners who are ready to sell their houses and make a move. If you’re thinking about downsizing this year, let’s connect to discuss your options in our local market.

Tagged With: For Buyers, For Sellers

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About Me

I help homeowners find their new upgraded home in the Tampa Bay area. Read More…

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Copyright © 2019+ Tami Savage LLC. All Rights Reserved.

DISCLAIMER: The information contained, and the opinions expressed, on this site are NOT intended to be construed as investment advice. Tami Savage LLC does NOT guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should ALWAYS conduct your own research and due diligence and obtain professional advice before making any investment decision. Tami Savage LLC will NOT be liable for any loss or damage caused by your reliance on the information or opinions contained herein.