Price Cuts in America

by | Jul 17, 2024 | Where to Move | 0 comments

Florida and San Antonio look cheap and getting cheaper!

Forty-seven out of 50 metropolitan areas in the U.S. saw an uptick in for-sale listings with price cuts this June as compared with last year, the company said. The biggest annual increases were in Tampa and Jacksonville, Fla., and in Denver, Colo.

The drop in home prices comes during one of the most expensive housing markets in U.S. history. Mortgage rates remain close to 7%, and home prices in May hit an all-time high, with the median price for a home hitting $419,300.

But buyers in the South are seeing a relatively cooler market, due to higher levels of inventory.

Among the largest 50 metropolitan areas in the U.S., those that had the highest share of homes with lowered prices were Austin-Round Rock-Georgetown, Texas; Denver-Aurora-Lakewood, Colo.; and Tampa-St. Petersburg-Clearwater, Fla.

The median listing price in Austin fell by 5.2% from last June. In Denver it fell by 6%, and in Tampa by 4.5%.

Tampa was also the place that saw the highest growth in housing supply from last year. In June, the inventory of homes for sale in Tampa grew by 93% as compared with last year. Tampa was followed by Orlando, where housing inventory grew by 82%. The South as a whole saw listings grow by 49% from a year ago.

Nationally, the share of homes with a price cut was 18.3% in June, Realtor.com said.

https://www.morningstar.com/news/marketwatch/20240715187/nearly-a-third-of-home-sellers-are-cutting-prices-as-housing-supply-balloons-in-these-areas

Sun City, Texas

by | Jul 13, 2024 | Where to Move | 0 comments

Georgetown, Texas, is the fastest-growing city in the U.S. It’s largely thanks to baby boomers.

Thousands of them have settled in an enormous planned community called Sun City Texas: 5,421 acres of single-family homes clustered around pools, fitness centers and pickleball courts, reserved mostly for buyers 55 and older. The hottest party is the yearly Mardi Gras parade and ball. The median age is 73.

“We’re not dead yet,” said Suzanne Herndon, 70, who moved to Sun City in 2021.

Cities are often focused on attracting young families, or hip remote workers. But Sun City residents have turned out to be the best economic stimulus Georgetown could ask for. The city’s operating budget is flush. Its rainy day fund is brimming. Stores, restaurants, hospitals and health clinics add hundreds of jobs every year. Of Georgetown’s 96,000 residents, about 17,000 live in Sun City.

Georgetown Mayor Josh Schroeder couldn’t be more pleased. The seniors moving into Sun City are active and eager to spend. “It’s like they’re at college except they don’t have to go to class and they have $3 million in the bank,” said Schroeder, who at a spry 47 isn’t eligible for Sun City. “It’s almost like a cruise ship on land.”

Read full article here:

https://www.wsj.com/us-news/baby-boomers-drive-economy-d4b72e40?st=lmgoj731nhj3u63&reflink=desktopwebshare_permalink

https://www.delwebb.com/homes/texas/austin/georgetown/sun-city-texas-16369

Luxury Senior Community

by | Jun 30, 2024 | Where to Move

For the local homeowners who are getting up in age and know they will need assistance but don’t want to leave the area, this is probably the most comprehensive choice nearby:

Everyone raves about it (there is a 3-year wait to get in) and the cost reflects the quality – it must be good:

Don’t wait until you absolutely need help – plan ahead.

https://lacostaglen.com/

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