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Impact of CoronaVirus on Miami Real Estate

Impact of CoronaVirus on Miami Real Estate The First. The global CoronaVirus pandemic is unlike any other event that anyone living today has ever experienced. Just over a week ago my Team and I worked towards an Open House on one of our listings. We door knocked neighbours and even though something was boiling in the air, we were determined to make the Open House a success. We door knocked the...

Mortgage Rates Today

Mortgage Rates Today Mortgage rates currently sit at 3.75%, according to Freddie Mac’s most recent numbers. It's nearly a 1% difference from the monthly average a year ago. The drop in rates caused a surge in refinancing over the last few months. And purchase activity ticked up as well. The 2019 housing market has been one of low rates, high demand and limited supply—particularly on the...

buying a home or renting

Renting VS Buying a Home

Renting or Buying a Home? - that is a Question! Every year around this time, a lot of my Clients look on the year behind and take time to reflect and plan for next year. Some, who rent, call me and we go for a coffee or meet at my office and brainstorm the best possible scenario to become a homeowner by buying a home in the coming year. For some homeownership is just a dream, for others it is a...

You Need More Than a Guide. You Need a Sherpa.

You Need More Than a Guide. You Need a Sherpa. In today’s world, hiring an agent who has a finger on the pulse of the market will make your buying or selling experience an educated one. In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate the process. You need someone you can turn to who will tell you how to price your home...

What FICO® Score Do You Need to Qualify for a Mortgage?

What FICO® Score Do You Need to Qualify for a Mortgage? It’s common knowledge that your FICO® score plays an important role in the homebuying process. However, many buyers have misconceptions regarding what exactly is required to get the loans they need. While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706, the good news for...

62% of Buyers Are Wrong About Down Payment Needs

62% of Buyers Are Wrong About Down Payment Needs Contrary to common misconception, a down payment is often much less than many believe. According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to...

5 Homebuying Acronyms You Need to Know [INFOGRAPHIC]

5 Homebuying Acronyms You Need to Know During the process of buying a house, it could be challenging to communicate with your realtor due to variety of real estate acronyms you are not familiar with.  We would like to make this process simplier for your, and prepared a list of major abbreviations.  Some Highlights: Learning the lingo of homebuying is an important part of feeling successful when...

3 Signs the Housing Market Is on the Rebound

3 Signs the Housing Market Is on the Rebound The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound. 1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth. 2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both...

4 Tips to Improve Your Home and Save on Your Energy Bill

4 Tips to Improve Your Home and Save on Your Energy Bill By making a few key upgrades to your home, you’ll save on your utility bills and improve the energy efficiency of your home. When you’re ready to sell your house, these key features will make it even more attractive to potential buyers. As a homeowner, it’s important to keep your home running efficiently, not only to save money, but also to...

What to Expect from Your Home Inspection

What to Expect from Your Home Inspection You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home inspection. This contingency allows you to renegotiate the price you offered for the home, ask the sellers to cover repairs, or in some cases, walk away if challenges arise. Your agent can...

Homeowners Are Happy! Renters? Not So Much.

Homeowners Are Happy! Renters? Not So Much. When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable. In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the...

Are You Ready for the ‘Black Friday’ of Real Estate?

Are You Ready for the ‘Black Friday’ of Real Estate? According to a new study from realtor.com, the week of September 22 is the best time of year to buy a home, making it ‘Black Friday’ for homebuyers. Every year, ‘Black Friday’ is a highly anticipated event for eager shoppers. Some people prepare for weeks, crafting and refining a strategic shopping agenda, determining exactly when to...

Should You Fix Your House Up or Sell Now?

Should You Fix Your House Up or Sell Now? If you’re thinking about remodeling your house before you list it, take a look at these three tips to help you decide if you really need to fix it up before you sell. The answer may surprise you. With the fall season upon us, change is in the air. For many families, children are growing up and moving out of the house, maybe leaving for college or taking a...

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”? In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do. According to CoreLogic’s latest Home Price Index, home values have risen at over 6% a year over the past two years, but have started to...

One of the Top Reasons to Own a Home

One of the Top Reasons to Own a Home One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and what you owe is called equity. If your home has appreciated...

What Buyers Need to Know About HOAs

What Buyers Need to Know About HOAs When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you. According to a recent article on realtor.com, “In a nutshell, an HOA helps ensure that your community looks its best and functions smoothly…The number of Americans...

Home Prices Increase in Every Price Range

Home Prices Increase in Every Price Range Price appreciation can differ depending on your price range. CoreLogic analyzed four individual home prices tiers and shares the increase in each one. CoreLogic’s Home Price Index (HPI) Report revealed, “National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.” They also analyzed four...

Things to Avoid After Applying for a Mortgage

Things to Avoid After Applying for a Mortgage Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your...

6 Graphs Showing the Strength of the Current Housing Market

6 Graphs Showing the Strength of the Current Housing Market Some Highlights: Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home. Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market....

What Is the Probability That Home Values Sink?

What Is the Probability That Home Values Sink? With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective. Here is a table showing the predicted levels of appreciation...

Millennial Buying Power Poised to Boost Homeownership

Millennial Buying Power Poised to Boost Homeownership In a recent article by Realtor Magazine, Mark Fleming, Chief Economist of First American Financial Corporation, notes, “The largest group of millennials by birth year will turn 30 in 2020, which puts them entering their prime homebuying years”. The article continues to describe how millennials have more buying-power than the generations that...

The Role Access Plays in Getting Your House Sold

The Role Access Plays in Getting Your House Sold So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and you’ve been asked what level of access you want to provide to potential buyers. There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of...

Home Sales Expected to Continue Increasing In 2020

Home Sales Expected to Continue Increasing In 2020 Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020. Below is a chart depicting the projections of each entity for 2019, as well as for 2020.As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe homes sales will increase steadily over the...

Everybody Calm Down! This Is NOT 2008

Everybody Calm Down! This Is NOT 2008 Last week realtor.com released the results of a survey that produced three major revelations: 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next. 57% believe the next recession will be as bad or worse than 2008. 55% said they would cancel plans to move if a recession...

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