If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is […]
More owners opting for a cash-out refi mortgage
45% of homeowners who refinanced in 4Q 2016 borrowed more money than they owed. The last time cash-out refis surged was during the pre-recession boom. Source: Florida Realtors
Is Your First Home Within Your Grasp? [INFOGRAPHIC]
Some Highlights: ‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old. More and more ‘Old Millennials’ (25-36 year olds) are realizing that homeownership is within their reach now! Source: […]
Average 30-year mortgage rate falls to 2017 low: 4.08%
Long-term mortgage rates have been hard to track and even harder to predict this year. The FRM hit a 2017 high recently only to drop this week to a new 2017 low. Source: Florida Realtors
Home Mortgages: Rates Up, Requirements Easing
The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen. The Mortgage Bankers Association (MBA) quantifies the […]
Millennials Flock to Low Down Payment Programs
A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January. The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings from […]
Millennial owners' advice to peers: Get off the sidelines
Survey: Young adults who recently bought a home think their friends should do so too. 80% said it helps financially; 86% said it’s cheaper than renting. Source: Florida Realtors
Careful…Don’t Get Caught in the Rental Trap!
There are many benefits to homeownership. One of the top benefits is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage. Don’t Become Trapped Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a “Rental Affordability Crisis.” He warns that, “Low rental vacancies and a lack of […]
NAR: Vacation home sales plummet in 2016
Investment buyers picked up as vacation buyers pulled back. Vacation home trends: More took out a mortgage and more planned to use the home for short-term rentals. Source: Florida Realtors
The Importance of Using a Professional to Sell Your Home
When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold. In order to accomplish all three goals, a seller should realize the […]
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