Trust This. Civics Day Insights — Green Homes Boost — FL Market Shifts

Trust This.

By Joseph E. Seagle, Esq. ● Oct 25, 2024

Smart Brevity^® count: 4 mins…1028 words

👋 Happy Friday! Sunday will be National Civics Day 🇺🇸 commemorating the publication of the first of the Federalist Papers. The Federalist Papers serve as the foundation of the U.S. Constitution and were designed to persuade citizens to vote in favor of its adoption. Of the 85 essays, Alexander Hamilton wrote 51, while John Jay and James Madison wrote the rest.

The ideas expressed in the essays seem routine and obvious to us today, but they were revolutionary at the time they were written. They were written in a time when monarchs appointed by God’s divine right ruled the world. The Constitution designed a government where the people chose their governing representatives from themselves—a government by, of, and for the people. A revolutionary idea indeed.

1 big thing: Energy efficient homes worth more

New data highlights the financial perks of green home improvements.

Why it matters:

• Florida homeowners are increasingly investing in energy efficiency upgrades.

• These improvements not only reduce utility bills but also enhance property values.

By the numbers:

• The 2023 American Housing Survey shows a positive correlation between energy-efficient renovations and higher home valuations in Florida.

• Homes with features like solar panels, energy-efficient appliances, and enhanced insulation are attracting more buyers and commanding premium prices.

• Climate-change-related upgrades, such as hurricane-resistant windows and elevated foundations, are also contributing to increased property values.

Driving the news:

• Rising energy costs and growing awareness of environmental issues are motivating homeowners to make energy-efficient and climate-hardening upgrades.

• Government incentives and rebates are making these renovations more affordable.

• Real estate agents report that homes with green features are selling faster than those without.

Between the lines:

• Energy efficiency is becoming a key factor in homebuyers’ decision-making processes.

• Properties with lower operating costs and climate resilience are viewed as better long-term investments.

The bottom line:

• Energy efficiency and climate-resilient renovations are smart investments for Florida homeowners, offering both immediate savings and increased property values.

2. CoreLogic Report Analysis: Florida Real Estate Trends and Insights

Florida’s real estate market is facing a period of cooling after a year of steady home price growth.

Why it matters: While nationwide prices increased by 3.9% from August 2023 to August 2024, Florida experienced slower growth compared to other regions, reflecting emerging trends that are crucial for real estate professionals.

By the Numbers:

• Florida’s market saw softer price gains, with certain metros showing signs of potential decline.

• Miami, a notable exception, posted an impressive 8.9% year-over-year increase in home prices, significantly outperforming other regions.

• However, areas like Palm Bay-Melbourne-Titusville and Gainesville are flagged with a 70%+ probability of home price declines over the next year.

Driving the News: High mortgage rates and affordability challenges continue to impact Florida’s real estate market despite recent drops in interest rates.

• Florida’s price growth has lagged behind other hotspot states like South Dakota (10%) and New Jersey (9.5%).

• According to CoreLogic’s Chief Economist, Dr. Selma Hepp, high rates and prices have put a “lid” on Florida’s price growth.

What’s Next: Real estate investors and REALTORS® should pay close attention to CoreLogic’s Market Risk Indicator, which predicts further home price declines in select Florida markets.

• Palm Bay and Gainesville, in particular, face high risks, making these areas worth monitoring for potential market corrections.

What to Watch:

• Realtors in Florida should be prepared for a more balanced or softening market through 2025, with CoreLogic forecasting just a 2.3% price increase nationally.

• Investors should consider Miami as a stronghold of growth, while other areas may present buying opportunities in declining markets.

The Bottom Line: Florida’s real estate market is showing signs of bifurcation, with select metro areas like Miami thriving while others face challenges that may lead to price corrections in the coming year.

This week’s newest video on TrustThis.tv is about how we walk beside new entrepreneurs on the earliest steps of their new journey.

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3. Catch up fast

1. 2024 WSJ and Realtor.com housing market rankings. Realtor

2. Why owning and buying a Florida condo has turned into a nightmare. New York Times

3. Are real estate investment opportunities growing as rates fall back to normal? MPAMag

4. How have two hurricanes affected housing inventory? HousingWire

5. WNC residents experience frustration on top of frustration in wake of Helene. Axios Raleigh

4. Closing Thought – ‘Necessary Endings’: Embracing Change for Growth

A plaque at the World War II Museum in New Orleans that I visited last weekend. At some point, like many other things in life, a war must come to a necessary ending like WWII did.

The big picture: Dr. Henry Cloud’s “Necessary Endings” highlights that endings are a natural and essential part of both personal and professional evolution. The book provides guidance on recognizing when it’s time to let go of unproductive relationships, projects, or strategies, and offers tools to navigate these transitions effectively.

Why it matters: As leaders, our reluctance to initiate necessary endings can stall progress and hinder organizational growth. Understanding how to identify and execute endings allows us to create space for new opportunities, drive innovation, and foster a healthier work environment.

Key takeaways:

• Recognize the need for endings: Not all endeavors are meant to last indefinitely. Assessing when something (or someone) is no longer beneficial is crucial for forward momentum.

• Overcome emotional barriers: Acknowledge the fears and uncertainties that make endings challenging. Developing emotional intelligence helps in making objective decisions.

• Carry out pruning strategies: Similar to gardening, removing what’s no longer fruitful allows for healthier growth elsewhere. This can apply to teams, processes, or products.

• Communicate with clarity and respect: Handling endings thoughtfully preserves relationships and upholds professional integrity.

What’s next: Reflect on areas within your role or team that may require reevaluation.

• Consider how initiating necessary endings can lead to improved performance and satisfaction.

• This book gives conflict-avoiding leaders the processes and tools to execute necessary endings comfortably and professionally.

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