AUGUST - REAL ESTATE NEWS: More Homes, Better Prices: A Buyer’s Summer

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If you’ve thought about buying a home in the past few years, you may have run into two frustrations: asking prices that kept climbing and too few homes to choose from. In many places, both sticking points are letting up this summer, with lower asking prices and more homes for sale. Let’s look at the trends, and what they mean for your search. Sellers Are Pricing To Attract Buyers According to Realtor.com , the national median asking price was $430,000 in June, nearly $11,000 under what it was the year before (see graph below) : That’s the eighth month in a row that the typical asking price has dipped below where they were the previous year, according to the same Realtor.com report. And while falling prices can sound worrying, this isn’t a sign of an impending crash. We’re talking about asking prices, not sold prices. This is a sign that today’s sellers are meeting the market where it is and pricing to draw buyers. And that’s actually something normal we’d expect from the market. As...
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Why Gated Communities are Popular

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Gated communities first became popular during New York's Gilded Age, serving as private enclaves for wealthy homeowners. During the 1960s and 70s, these became more affordable as more retirees and middle-class buyers discovered their advantages.

While security-controlled access is a desirable feature, gated communities typically have HOAs that enforce neighborhood guidelines. These make them a popular draw for buyers who prefer well-kept exteriors and nearby amenities.

Today, Florida and California have the highest number of gated communities, with retirees still headed to the Sunshine State because of lower taxes.

One Florida community, PGA National Resort, provides six golf courses for the inhabitants of its 5,000 homes. Retirees on a budget can choose a condo unit, while wealthy buyers can spend seven figures on a 5,000 sq. ft. property.

While some homeowners avoid HOAs because they consider their fees and regulations excessive (for example, PGA National residents must have at least one palm tree on their property), homes in gated communities remain popular as their appreciation rates are often higher than non-gated properties.1

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