Sanibel & Captiva Islands, Floirida, Florida, United States
Born in the U.K. Almost ten years’ experience in property management/rentals on the islands. Specialty — International customers/Seniors/Second Homes/Investment Properties.
Sally was born near Bristol in Southwest England. . She spent a decade traveling and gaining work experience around the globe until settling in the New York metropolitan area as a corporate travel consultant. She now specializes in guiding customers from overseas and the USA through the process of finding and purchasing real estate on the Islands.
Initially inspired by a postcard of Blind Pass, Sally began visiting Sanibel regularly before making it her full-time home in 1996. Prior to becoming a licensed realtor, Sally was one of the original employees at Royal Shell Vacations and uses her in-depth knowledge of the vacation rental market daily to the advantage of her customers.
She was recently awarded the designation “MCNE” (Master Certified Negotiations Expert) and also holds the designations S.C.I.S. “Sanibel & Captiva Island Specialist” from the Sanibel & Captiva Board of Realtors, e-PRO and “TRC” (Transnational Referral Certification).
WASHINGTON – May 26, 2016 – Pending home sales rose for the third consecutive month in April and reached their highest level in over a decade, according to the National Association of Realtors® (NAR).
All major regions saw gains in contract activity last month except for the Midwest, which saw a meager decline.
The Pending Home Sales Index – a forward-looking indicator based on contract signings for homes that have not yet sold – hiked 5.1 percent higher to 116.3 in April from an upwardly revised 110.7 in March. Year-to-year, it's 4.6 percent above April 2015 (111.2).
After last month's gain, the index has now increased year-over-year for 20 consecutive months. Vast gains in the South and West propelled April's pending sales in April to its highest level since February 2006 (117.4), says Lawrence Yun, NAR chief economist.
"The ability to sign a contract on a home is slightly exceeding expectations this spring, even with the affordability stresses and inventory squeezes affecting buyers in a number of markets," Yun says. "The building momentum from the over 14 million jobs created since 2010 and the prospect of facing higher rents and mortgage rates down the road appear to be bringing more interested buyers into the market."
Mortgage rates have remained below 4 percent in 16 of the past 17 months, but Yun says it remains to be seen how long they will stay this low. Along with rent growth, rising gas prices – and the fading effects of last year's cheap oil on consumer prices – could edge up inflation and push rates higher. For now, Yun foresees mortgage rates continuing to hover around 4 percent in coming months, but inflation could potentially surprise the market and cause rates to increase suddenly.
"Even if rates rise soon, sales have legs for further expansion this summer if housing supply increases enough to give buyers an adequate number of affordable choices during their search," adds. Yun.
Following the housing market's best first quarter of existing-sales since 2007 (5.66 million) and a decent increase (1.7 percent) in April, Yun expects sales this year to climb above earlier estimates and be around 5.41 million – a 3.0 percent boost from 2015. After accelerating to 6.8 percent a year ago, national median existing-home price growth is forecast to slightly moderate to between 4 and 5 percent.
Pending sales in the Northeast climbed 1.2 percent to 98.2 in April, and are now 10.1 percent above a year ago. In the Midwest, the index declined slightly (0.6 percent) to 112.9 in April, but it's still 2.0 percent above April 2015.
Pending home sales in the South jumped 6.8 percent to an index of 133.9 in April – 5.1 percent higher than last April. The index in the West soared 11.4 percent in April to 106.2, and it's now 2.8 percent above a year ago.