"We are here today to talk about the future of real estate. We know enough about millennials, now we need to learn about the next generation," said Sherry Chris, president and CEO of Better Homes and Gardens Real Estate (BGHRE). "Generation Z are the teenagers of today that will shape – and are already starting to – the way we live, the way we function and the way we do business."

According to Better Homes and Gardens Real Estate, 97 percent of Generation Z believe that they will own a home in the future, and 82 percent indicate that homeownership is the most important factor in achieving the American Dream. "That might sound a little traditional, especially when compared to what we've seen with millennials, but this is a generation that values homeownership," said Chris.

All five of the panelists expressed a desire to own a home and are certain that homeownership will be part of their future. When asked about their ideal homes, the panelists varied in wanting to live in either rural or suburban areas and in a home with traditional or modern décor. All the panelists expressed a desire for a large amount of square footage.

"I want a big house," said panelist Cayman, 17. "I want a room for each of my kids, a master bedroom, a few guest rooms, a movie room – I want a lot of space."

The panelists also had very specific ideas about the features they want in their home. Most panelists mentioned hardwood floors, granite counter tops and high-end appliances. "I watch a lot of HGTV, so I know exactly what I want," said panelist Brooke, 17.

When asked about whether or not they would work with a real estate professional when they purchase a home, the answer was a resounding yes. According to BGHRE, 81 percent of polled Gen Z-ers believe they will work with a real estate agent during the home purchase process.

Even though they will most likely begin their search online, Gen Z-ers believe that it is important to have a professional at their side. "Real estate websites might not be as accurate as an expert's opinion, and you are spending too much money on a house to not have accurate information," said panelist Thomas, 12.

The desire for human interaction in their purchasing decisions goes beyond homeownership and into their day-to-day shopping. The panelists all agreed that they are much more likely to listen to endorsements and opinions from friends and family than online reviews. They said they need to be able to trust the source of recommendations, and Gen Z-ers tend to view online reviews as the opinions of strangers. So do they use crowd-sourced reviews from sites like Yelp? "I don't know what Yelp is," said panelist Elizabeth, 11.

When it comes to social media, the top platforms used by the panelists are Instagram, Snapchat, Twitter and Tumblr, and they are frequently interacting with these platforms. "We are called Generation Z, but we should be called generation distraction because we are constantly being pulled to check our phones," said panelist Ethan, 17.

However, none of the panelists are regular users of Facebook. "Facebook is not for us," said Thomas. "Facebook is more dominated by millennials and people in their 30s."

© 2016 Florida Realtors®

Builders broke ground on the most new homes in nine years last month, a response to strong demand that should lift the economy.

Home construction soared 25.5 percent to a seasonally adjusted 1.3 million in October, the Commerce Department said Thursday. That is the biggest gain since July 1982. New construction is also at the highest level since August 2007, months before the Great Recession began.

Americans are clamoring to buy homes, but there are few properties on the market. That has driven up prices. Mortgage rates remain low, however, making more homes affordable.

Steady hiring and some signs that pay gains are picking up have bolstered demand for housing. Younger Americans, buoyed by higher pay, are moving out on their own, renting apartments or seeking to buy houses. Sales of new and existing homes have picked up in recent months.

"With improved employment and income prospects, millennials are an expanding portion of housing demand, as they move out of their parents' homes," David Berson, chief economist at Nationwide, said.

The increase was driven by a 75 percent jump in apartment construction, a notoriously volatile category. That was the biggest gain in five years. Single-family home construction rose 10.7 percent.

Still, the future is a bit cloudy for housing. Donald Trump's victory in the presidential election has led to higher interest rates on 10-year bonds, a sign investors expect higher inflation in the coming years. Those increases should lift mortgage rates from their current very low levels. The average rate nationwide on a 30-year fixed mortgage last week was just 3.57 percent.

Trump's policies could affect housing in different ways. Restrictions on immigration could limit the supply of available workers for construction firms, which have already complained for years of labor shortages.

Yet Ralph McLaughlin, chief economist at data provider Trulia, points out that Trump could loosen regulations on banks and reform mortgage giants Freddie Mac and Fannie Mae, potentially increasing the flow of credit.

Sales of new homes climbed 13 percent in September from a year earlier. Yet the supply of new properties was equivalent to just 4.8 months of sales, down from 5.8 months a year ago.

And sales of existing homes bumped up 3.2 percent in September from the previous month. But supply is tight there as well: The number of existing homes for sale was barely above 2 million – 6.8 percent lower than a year earlier.

Those shortages are likely fueling more construction. Homebuilding rose strongly last month in the Northeast, where new construction has lagged for months and is up just 2.2 percent in the past year. The increase was also strong in the Midwest, followed by the West and South.

Applications for building permits, a good sign of future activity, barely rose to 1.23 million, the highest in a year. Still, that followed a much larger 6.3 percent gain in the previous month.

Employers are adding an average of about 175,000 jobs a month, and the unemployment rate fell to a low 4.9 percent in October. Average hourly pay rose in the past year by the fastest pace since before the recession began, boosting the confidence of would-be buyers.

Copyright © 2016 The Associated Press, Christopher S. Rugaber. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

[vc_row][vc_column][vc_column_text]

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_video link="https://vimeo.com/188754394"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]But can rolling a marble test really reveal if other listings have this kind of a problem?

"The marble is a good way to demonstrate the floor is not level but not to tell if this means there is a problem," says Bill Neal, a structural engineer in Vernon, Conn.

Instead, there's a different tool you'll need.

"Put a 4-foot-long level on the floor. Ideally, when the level is level, the end should not be more than an eighth of an inch off the floor. If it's a quarter inch or more, the house definitely should be checked," Neal says.

An uneven floor could indicate a structural problem or possibly poor workmanship, Neal says.

But don't let a little marble get buyers bent out of shape. "The truth is, all floors are going to be a little bit unlevel," says Mayer Daham, a real estate developer in Los Angeles. "If you can notice your building is dipping, that's not acceptable. Between one room and another, if a marble rolls, you'll survive." After all, a marble could roll from room to room because of different finishes on the floor.

Joel Goodrich, a San Francisco-based luxury real estate adviser, says experts can help put things in perspective.

"The real value and importance of having a professional inspector or structural engineer inspection is that they can say whether the settling is active (i.e., worsening) or cosmetic (i.e., not structural, but a function of the age of the building)," he says.

Source: "Does the Marble Test for Floors Really Work? Try It, but Keep a Level Head," realtor.com® (Nov. 15, 2016)

© Copyright 2016 INFORMATION, INC. Bethesda, MD (301) 215-4688

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Let’s dispel some myths about reverse mortgages:

Myth no. 1: The lender owns the home
You will retain the title and ownership during the life of the loan, and you can sell your home at any time. The loan will not become due as long as you continue to meet loan obligations such as living in the home, maintaining the home according to Federal Housing Administration (FHA) requirements, and paying property taxes and homeowners insurance.

Myth No. 2: the home must be free and clear of any existing mortgages
Actually, many borrowers use the reverse mortgage loan to pay off an existing mortgage and eliminate monthly mortgage payments.

Myth No. 3: Once loan proceeds are received, you pay taxes on them
Reverse mortgage loan proceeds are tax-free, as it is not considered income. However, it is recommended that you consult your financial adviser and appropriate government agencies for any effect on taxes or government benefits.

Myth No. 4: The borrower is restricted on how to use the loan proceeds
Once any existing mortgage or lien has been paid off, the net loan proceeds from your HECM loan can be used for any reason. Many borrowers use it to supplement their retirement income, defer receiving Social Security benefits, pay off debt, pay for medical expenses, remodel their home, or help their adult children.

Myth No. 5: Only poor people need reverse mortgages
The perception of the reverse mortgage as an assist for the "poor" borrower is changing. Many affluent senior borrowers with multi-million dollar homes and healthy retirement assets are using reverse mortgage loans as part of their financial and estate planning, and working closely in conjunction with financial professionals and estate attorneys to enhance the overall quality and enjoyment of life.

Myth No. 6: My children will be responsible to pay off the loan
Reverse mortgages are a nonrecourse loan. If your heirs wish to keep the home and the loan balance is more than the home value, they would only have to pay 95 percent of the appraised value to keep the home.

Donna M. Linton is a professional reverse mortgage adviser with six years experience. She works at Sterling Mortgage Services, 100 Albany Ave., Stuart. Contact her at 772-485-5291.

© 2016 Journal Media Group. Donna Linton

Florida Gov. Rick Scott announced Monday that 85 million tourists visited the state during the first nine months of 2016. That's the highest nine-month total ever, on a pace to set a record total for the year.

Scott highlighted the numbers during a visit to the Jacksonville Zoo and Gardens, where he touted the work of Visit Florida, the state's tourism marketing arm, during a year where Americans and foreigners saw troubling headlines from Florida.

In June, Omar Mateen went on a rampage inside the Pulse Nightclub in Orlando where he killed 49 people and injured more than 50 others. Florida was also the first site in the continental United States to have local transmission of the Zika virus by mosquito bite.

"Visit Florida does an incredible job of marketing our state and keeping all of our tourism partners, which include both large and small businesses, updated on how to keep our visitors informed when our state faces challenges like the Zika virus, hurricanes and the terrorist attack at Pulse Nightclub," Scott said in a statement.

Since Scott became governor he has pushed for increased state spending on Visit Florida up to nearly $80 million. But Visit Florida has recently come under scrutiny for its decision to keep some of its marketing deals — such as a contract with rapper Pitbull — secret. Incoming House Speaker Richard Corcoran has also questioned whether the state should continue paying as much as it currently does.

Last year about 106 million people visited Florida, with the vast majority of tourists arriving from other states. About 25.6 million visitors came to the state in the third quarter. This year Visit Florida estimates 26.9 million visitors came during the same three month period.

St. Paul Catholic Community Church: Hosting Thanksgiving dinner with all the trimmings on Thursday from 11:30 a.m. to 2 p.m. The dinner will be held in the school cafeteria and is free. Address: 1330 Sunshine Ave., Leesburg.

First United Methodist Church of Eustis: Providing free Thanksgiving meals on Thursday from 11 a.m. to 1 p.m. Take home meals available 10 a.m. to 11:30 a.m. Open to all. Call to reserve a spot or meal. Phone: 352-357-4527. Address: 600 S. Grove St., Eustis.

Christian Care Center — Men's Residence: Providing community Thanksgiving dinner on Thursday from 2 p.m. to 4 p.m. Phone: 352-787-9904. Address: 1309 High St., Building 105, Leesburg.
Life Community Church: Serving free Thanksgiving dinner on Thursday from 11 a.m. to 1 p.m. at the Long John Silvers in Eustis. Phone: 352-483-8877. Address: 2880 S. Bay St. Eustis.

Christian Worship Center: Hosting its annual community Thanksgiving dinner from 10 a.m. to 2 p.m. Thursday at the church's Miraculous Thrift Store. Phone: 352-365-1709. Address: 2310 W. Main St., Leesburg.

Deliver the Difference: Provides food for holiday meals for those in need. Providing frozen turkeys and traditional sides. Also partnered with Bob Evans Restaurants to provide Farmhouse Feasts — completely cooked Thanksgiving meals that simply need to be warmed up. Meals picked up the day before the holiday and distributed to the families that have signed up for them. Hours: Tuesday-Friday 9 a.m. to 3 p.m. Phone: 352-343-6700. Address: 320 N. Lake Ave. Tavares, FL 32778

And, officials say, it is not out of the question that the all-time Thanksgiving holiday travel record could be broken because of these positive economic indicators.

AAA Auto Club projects that 48.7 million people will take trips during the Thanksgiving holiday period, which begins at 12:01 a.m. Wednesday and ends at 11:59 p.m. Sunday. The all-time record was set in 2007 when 50.6 million people traveled for Thanksgiving.

In 2015, AAA officials projected that 46.9 million people would travel. By the end of the holiday period, officials learned that 800,000 more people than expected traveled last Thanksgiving.

“We are looking at a very busy travel period,” said Mark Jenkins, a AAA spokesman in Florida. “The forecasts are usually conservative, so it is possible we could approach the record.”

AAA considers someone a Thanksgiving traveler as some who drives, flies or takes other transportation to go at least 25 miles from home, or 50 miles round trip.

A recession that hit the United States in 2008 led travelers to stay at home. In 2008, only 37.8 million people traveled for the holidays, down by 12.8 million travelers in just one year. Since 2008, there has been a steady climb in the number of travelers.

AAA officials said Thanksgiving travel is expected because of the improvements in the economy during the second half of the year, including rising wages, increased consumer spending and overall strength in consumer confidence, a press release states.

Despite incremental increases in the national average price of gasoline during the past couple months, AAA estimates U.S. drivers have saved more than $28 billion so far at the pumps this year compared to the same period last year, the release states.

“This is the most traveled holiday of the year, and as usual, there is an emphasis on road trips,” said Joseph J. Richardson Jr., president and CEO of AAA Auto Club Group, in the press release. “If you are one of the 43.5 million people on the road, we urge you to be patient in traffic and limit distractions while behind the wheel.”

Officials said 89 percent of holiday travelers will drive this Thanksgiving. The 43.5 million Americans planning a Thanksgiving road trip represents an increase of 1.9 percent over last year. Air travel is expected to increase 1.6 percent, with 3.75 million Americans flying to their holiday destinations. Travel by other modes of transportation (cruises, trains and buses) will increase only slightly this Thanksgiving, to 1.45 million travelers.

“Gas prices are now on a similar course as last year, due in large part to lower oil prices,” said Stephanie Milani, a AAA spokesman in Tennessee, in a release.

While gasoline prices are still low, air fares have increased significantly since last Thanksgiving. The AAA Leisure Travel Index shows that airfares are forecast to be about 21 percent more this Thanksgiving, with an average round-trip flight costing $205 for the top 40 domestic routes.

Meanwhile, AAA expects to rescue more than 370,000 motorists this Thanksgiving, with the primary reasons being dead batteries, flat tires and lockouts. AAA recommends that motorists check the condition of their battery and tires. They should also pack emergency kits before hitting the road.

Jenkins said AAA projections are based on economic forecasting and research by IHS Markit. Jenkins noted that the London-based business information provider teamed up with AAA in 2009 to jointly analyze travel trends during major holidays. AAA has been reporting on holiday travel trends for more than two decades.

Solivita is a large, widely lauded active-adult community in Kissimmee, Osceola County, Florida. It was the 2015 Parade of Homes first-place grand award winner, and it's been named to Where to Retire magazine's list of top 50 master-planned 55+ communities for three consecutive years. All in all, Solivita has earned over 70 awards for its design, community planning, and environmental friendliness.

Here's some more information about some of the most compelling reasons to check this place out if you're looking for a new or second home in a Central Florida 55-plus community.

Solivita Is Big!

The community is situated on 4,300 acres of beautiful natural Central Florida landscape, complete with miles of green spaces, shimmering lakes, shade trees, and wildlife. Residents enjoy over 150,000 square feet of top-quality amenities at three recreational complexes (Waterfront Galleries, Riviera Spa & Fitness Center, and The Palms Amenity Complex), two neighborhood centers, two championship golf courses, extensive walking and bike paths, shops, restaurants, and more. The development features 20 different Tuscan-inspired home designs, so there's something for all needs and preferences.

Solivita Is Active!

No matter what your interests and hobbies, more than 200 social clubs and groups have you covered. With so many offerings from this amazing social program to choose from, it's easy to make new friends with similar interests and to stay engaged among this active community.

If it's physical activity you're after, there's certainly no shortage of options there, either. Hit the outdoor paths for a walk, jog, or bike ride. Then there's the indoor track, multiple state-of-the-art fitness centers with cardio and strength training equipment, several indoor and outdoor pools, saunas, dance and aerobics studios, two 18-hole golf courses, seven tennis courts, 11 pickleball courts, two bocce ball courts, a baseball diamond, horseshoe pits, and plenty of additional sports, exercise, and recreational facilities.

Solivita has professional fitness trainers on staff, too. The on-site FIT program helps residents achieve a healthy weight and optimal fitness.

Solivita Is for Golfers!

Did we mention there are two championship golf courses at Solivita? Thanks to the Stonegate Golf Club, it's one of the best Central Florida 55+ communities for golf lovers. The 7,000-yard Oaks Course is one of the most attractive in the region. The 6,800-yard Cypress Course presents a thrilling challenge to even the most experienced players. And if you're new to the game or looking to take your skills to the next level and beyond, the golf instruction offered is a big help!

Solivita Is Entertaining and Enriching!

In addition to all of the above, so many other amenities are available to residents. Spas, sunning decks, gathering spaces in the neighborhood centers, a full library, a few well-equipped art and ceramics studios, billiards, darts, game rooms, a fireplace piazza, outdoor pavilions, business centers, classes, a catering and staging kitchen, and so much more are at hand.

The gorgeous 17,000-square-foot Starlite Ballroom is another great amenity in the community. It frequently hosts concerts, dances, stage performances, weekly movie screenings, and all sorts of other parties and events, large and small. The ballroom can be divided into smaller spaces, too, to comfortably accommodate smaller private events.

On-site dining options include The Grille at Stonegate, The Bistro (a faster, more casual eatery), and Mosaics Restaurant. The latter is Solivita's upscale dining space reserved for banquets and club events.

Solivita Is in a Fantastic Location!

Ample shopping, dining, professional services, major roadways, and other conveniences are close to the Solivita 55+ community. Yet there's still a prevailing peaceful and secluded feel, so it's always easy to relax.

This Central Florida location provides easy access to so many amazing, diverse destinations, including but certainly not limited to big and small cities, exciting state parks and campgrounds, beautiful beaches, famous theme parks and resorts, and world-class arts and cultural institutions. Orlando, Tampa, St. Petersburg, and The Villages, are major destinations all located one to two hours away. Then there are so many smaller unique towns and cities to explore as well. And for long-distance travelers or those of you with frequent visitors, the Orlando International Airport is only about an hour's drive.

Solivita truly puts all the excitement of active-adult living in Central Florida right at your fingertips.