Growth and Thoughts about Real Estate

If you're on the lookout for your initial home and require assistance with the down payment, Regions Mortgage has a solution for you – introducing Regions FirstHome Assist.* Committed to helping you realize your homeownership dreams, we are pleased to present this down-payment assistance grant program. Qualifying* first-time homebuyers have the opportunity to receive a grant of up to $5,000, specifically designed to contribute to the down payment of their first home purchase. The best part? This grant does not require repayment! Regions FirstHome Assist encompasses eligible first mortgage programs, such as Freddie Mac HomePossible®, Fannie Mae HomeReady®, and Regions Affordable 97. To qualify, at least one borrower must be a first-time homebuyer, and depending on the home's location, there may be household income limitations. Act quickly, as this offer has limited availability – grant applications will be considered on a first-come, first-served basis while funds last. Please note that this offer is available only in select markets. Don't miss out on this opportunity to turn your homeownership aspirations into reality with Regions FirstHome Assist.

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On March 4, 2024, it was reported that smaller, more personalized homes are becoming increasingly popular among homebuyers, according to the National Association of Home Builders (NAHB). The average size of new homes has been on a downward trend, decreasing from 2,479 square feet in 2022 to 2,411 square feet in 2023 – the smallest average size in 13 years. Homebuyers now express a preference for homes around 2,070 square feet, in contrast to the average of 2,260 square feet two decades ago. The shift is attributed to changes in buyer preferences and worsening housing affordability. Builders are responding to this trend, with 38% indicating they constructed smaller homes in 2023, and 26% planning to build even smaller in 2024 to support home sales. Efforts to enhance housing affordability include reducing home prices, offering sales incentives, and providing more affordable finishes. The median new home prices dropped to $427,400 in 2023, down 7 percentage points from 2022, while existing median home prices continued to rise to $394,600. Homebuyers are not only adjusting preferences for size but also emphasizing personalization and authenticity in design. Donald Ruthroff, AIA, founding principal at Design Story Spaces LLC, notes that homeowners seek homes that feel unique and made specifically for them. Top features on buyers' wish lists include various outdoor amenities, kitchen features, and energy-efficient elements. Technology features, such as security cameras and programmable thermostats, are gaining popularity. The report also highlights the growth of certain home features over the past decade, including quartz or engineered stone countertops, lighting control systems, outdoor fireplaces, outdoor kitchens, built-in kitchen seating, and exposed beams. For a more comprehensive overview of homebuyer trends, NAHB's "What Home Buyers Really Want" (2024 edition) provides additional information.© 2024 Florida Realtors®

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Family Hack of the Week Delight family and friends with this light and buttery Pound Cake courtesy of Allrecipes, perfect for snacks, dessert . Preheat oven to 325 degrees Fahrenheit. Grease and flour a bundt pan. In a large mixing bowl, cream 3 1/4 cups sugar and 3 sticks (1 1/2 cups) unsalted butter (room temperature) on medium speed until light and fluffy, around 5 minutes. Add 6 extra large eggs, 1 at a time, beating for 45 seconds after each addition. Add 2 teaspoons vanilla extract and beat for 30 seconds. In a medium bowl, combine 3 cups all-purpose flour, 1/2 teaspoon baking powder, 1/2 teaspoon salt and 1/4 teaspoon nutmeg. Add half the flour mixture to the butter mixture and mix on low speed until just blended. Add 1/2 cup milk and beat on low until just blended. Repeat with remaining flour mixture and another 1/2 cup of milk. Scrape the sides of the bowl with a spatula between each addition. Pour batter into prepared dish, smoothing top with a spatula. Bake until a toothpick inserted in the center comes out clean and the cake is just starting to pull away from the sides of the pan, around 1 hour and 25 minutes. Cool for 15 minutes before inverting the cake onto a plate. Cool completely before serving.