2021 Community of the Year, Billionaire Blackstone Stops Buying & Are Home Sales Crashing Faster than 2005?

In this issue: the award-winning 2021 community of the year, Blackstone halts purchasing homes in 38 markets & if home sales are crashing faster than 2005, will the bubble burst?

Author

Sean Bates
September 01, 2022

Concerns Are Rising Fast in the Market...

Even though the seasons in Florida haven't changed, the school year has started, football is starting back up, and we're entering the Fall.

The shift in the market from a red-hot 100 MPH seller's market to a more balanced market has caused valid concerns.

And the US markets are continuing to drag down lowered confidence with them.

But the housing market is not as bad as the media is telling us... which is what I wanted to help uncover the facts vs. fiction.

- Sean

🏆 Awarded 2021 Community of the Year, Long Lake Ranch is transforming...

But first, Long Lake Ranch was named the #1 community in Tampa Bay back in 2015, and its new neighborhood was awarded community of the year in 2021 by the Tampa Bay Builders Association and the Lee Building Industry Association.

It sits across from the upcoming new $100M Moffit Cancer Center Pasco Campus

And soon it could become the healthiest zip code in the country…

Plans for the area, which is south of State Road 52 and east of the Suncoast Parkway, include:

  • Moffitt Cancer Center’s Pasco County campus, a 775-acre life sciences and research park, expected to attract researchers and companies from around the world

  • A diversity of residential options, expected to appeal to be people of all ages in different stages of life

  • A community farm

  • A 6-12 STEAM Magnet School (STEAM stands for science, technology, engineering, arts and mathematics).

  • 3,600 acres of green space and an extensive trail system

  • A MetroLagoon

  • The fastest internet in the nation, accessible to all within the community

  • Access to State Road 52, the Suncoast Parkway and Ridge Road. An extension of Ridge Road will run through the property, ending at U.S. 41.

The Angeline Project

Angeline is a new 6,200-acre master-planned community for the new $100M Moffit Center.

The new community in Central Pasco is designed to promote good health.

It will have a professionally managed working farm. It will have a regional park.

An extensive trail network will weave throughout Angeline and will have connections to the Starkey Preserve, the Connerton Preserve and the Crossbar Ranch Preserve.

“We want to create the healthiest zip code in the country,” Goyani said

$100M Pasco Campus By The Numbers:

This $100 million project will take a few years to build but in combination with the Angeline Project, and everything else- Land O' Lakes is set to boom! The new center will include:

  • 775 acres at intersection of Suncoast Parkway and Ridge Road Extension

  • 14,500 jobs

  • 16 million square feet of space for research labs, light industrial and manufacturing, general offices and clinics

  • 106 million in funding for infrastructure for Moffitt.

Not far from the planned Moffitt site, Pasco County Schools is building a 6-12 STEAM Magnet School, focusing on science, technology, engineering, the arts and mathematics.

This begs the question, is the community worth it?

Here, homeowners have the best of both worlds - a peaceful location and proximity to everyday conveniences, shopping, golf clubs and courses, parks, walking and biking trails and more.

And the community amenities include: Gated Pavilion, Pools with cabanas, Firepit, Parks, Dog Park, Kid Park, Activity Parks, and a Low HOA.

This desirable Lutz location is just moments away from the Suncoast Parkway, which makes for easy access to Tampa, entertainment, recreation and Tampa International Airport.

But I plan to go in more complete detail in my new videos.

Let me know what you think of Long Lake Ranch! I would love to hear your feedback or other communities you're interested in that I should talk about.

Everybody is worried about what's going to happen to the housing market in 2022 & 2023?

  • What if the housing market crashes?

  • What if home prices drop?

  • What if I lose money when I buy?

And then the news has their opinion... "housing recession", "housing bubble", etc.

But if you really look at what's going on it's a little simpler than what the media is telling us...

Often the simplest answer is the right answer.

And home prices like the housing market is a simple supply and demand equation, which is why the real experts in the industry who reinforce their statements with data are saying this...

The truth is that home prices aren't depreciating...

They're decelerating, and let me explain why.

"Annual home price growth dropped by nearly two percentage points… the greatest single-month slowdown on record since at least the early 1970s.

While the slowdown was record-breaking, home price growth would need to decelerate at this pace for six more months to drive annual appreciation back to 5%, a rate more in line with long-run averages."

- Black Knight

    • That's why home price forecasts for 2022 are 10-16%

    • In 2023, Fannie Mae, Core Logic & many more predicts 4% growth

    • And then most price performance forecasts show increases by 3-4% until 2026

    The biggest reason is simple supply and demand.📊

    The overall housing inventory is still 42.6% less than 2019, while demand is expected to continue rising as the majority of the 92 million Millennials begin reaching peak home-buying years of 30-40... With 70 million Gen-Z'ers following.

    This means the "housing correction" was simply the housing market balancing out... which is normal.!

    "Selling prices will level out as the market cools but this cooling is just a return to the type of balanced market that has been absent the past couple of years."

    – Greg McBride, chief financial analyst at Bankrate

    Don't focus on the headlines or trying to time the market.

    Remember, buying a home is a personal decision.

    So if you have the ability, the need & the desire to move, don't wait to buy real estate.

    Buy real estate and wait.📈

    Billionaire Blackstone Stops Buying Homes in 38 Markets...

    Over the past year, Blackstone has been on a major single-family home buying spree in 76 markets across the country. But Blackstone-owned Home Partners of America, one of the biggest private landlords in the US, is now planning to halt single-family home purchases in 38 of those markets by the end of September. Here’s what you need to know:

    • This strategic shift comes in response to home price appreciation and changing regulations and demand

    • These 38 paused markets represent less than 5% of Blackstone’s recent buying activity

    Our take

    Blackstone and these Wall Street investors are strongly impacted by inflation.

    It’s no wonder they’re pausing some activity until inflation numbers start to improve.

    They approach real estate the way every investor should— they look for opportunities both when the market is up and when it’s down.

    They’re pulling back from some markets and focusing on others where they see more opportunity, but when activity in these smaller markets resumes, you can bet they’ll be back at it.

    The Local Numbers

    In Other News:

    Hope you're all having an amazing beginning of the school year!

    - Sean and the Bello Home Team

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