Fort Lauderdale Real Estate Blog

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 Why An increase in Inventory As Homes Sales stall?

The National Association of Realtors (NAR) recently released findings in the latest Existing Home Sales Report that the supply of homes for sale and condos for sale in 2018 as compared to last year has increased each month for the last four months, while at the same time, existing home sales have slowed down.

During the last three years, the opposite was true, Sales climbed as inventory fell.

Lawrence Yun, Nar's Chief Economist shared his thoughts on why the change. Yun believes, "This is the lowest existing home sales level since November 2015. A decade's high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings

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Are you thinking about buying a home or condo for sale? Sandra Holmshaw with Nationwide Mortgage added this quick video to help you choose between a local mortgage broker and a bank when you decide to apply for a mortgage loan.

For more detailed information, contact Sandra Holmshaw directly.

Start your home or condo search here:

 

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Sandra Holmshaw with Nationwide Mortgage offers these tips on what not to do to if you are planning to purchase a home or condo for sale and you will be applying for a mortgage.

Give Sandra a call at the number below for more detailed information and to check the most current interest rates. 

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20 Tips To Help You Sell During The Fall Months

When listing your home for sale, your number 1 objective should be to get your home sold for the highest possible price and best terms. Before listing, you may want to ask if there are small projects you can do to ensure you reach your goal. As a local professional real estate agent, I can make simple suggestions you can implement to get your home ready for the market.

Here are a Few Tips

  • Your entry needs a new look!  A fresh coat of paint or a new front door will do wonders.
  • Landscaping needs help! A well groomed lawn and hedges shows buyers the home has been well taken care of.
  • Change bulbs both Interior & exterior lights - If they are not in working order. Light it up!
  • Clean
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Is the increase in Inventory a Bearish or Bullish Indication?

a recent Realtor.com article reported New listings increased by 8% year-over-year across the nation, the largest increase since 2013. Also reported, The total listings in the 45 biggest real estate markets are now up 6% on average as compared to last year.

This housing inventory increase has triggered two different reactions. Some folks are concerned that this signals a potential collapse, while other folks believe it is a welcomed reprieve from the lack of inventory that many markets have experienced.

In a recent 'Z Report by Zelman & Associates, "with the rate of home appreciation starting to decelerate alongside the uptick in inventory, we exect significant debate whether this

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Owning Your Own Home May Help You Retire Sooner

Millionaire's advice to Millennials - David Bach, A self-made millionaire who has written 9 consecutive New York Times bestsellers, was featured in an article in CNBC saying, "Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off."

Mr. Bach suggests that homebuyers should, "Take out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, 15 years."

Here is the secret on how to achieve this: Mr. Bach says, "if you were paying $1,000 a month, how you're going to make $1,100 payments eery month. Inform the bank that you are doing this and that you want the extra $100 to be applied to the

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 Buying Now Is 20%+ Cheaper Than Renting

The most recent findings in the Rent vs Buy Report from Trulia report that owning a home is still cheaper than renting, with a traditional mortgage (fixed 30-year), in 98 out of the 100 largest metropolitan locations in the country.

Going back six years since this study first began, owning has been consistently less expensive than renting.

The two exception metro areas where renting is still cheaper are San Jose and San Francisco, California, where median home prices have skyrocketed to more than One Million Dollars this year. Home values in San jose have increased tweny-nine percent in the last year, while rental values have stayed the same.

For the 98 metro locations where homeownership is

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Housing Market 2018 VS 2008

Many folks are wondering if there is a comparison between the current real estate housing market and the market just prior to the "boom and bust" ten years ago. Looking at just price appreciation alone, many fear that we are on a similar path, advancing quickly toward another market downturn.

However, looking deeper into the data, there is a defining difference between the two market periods. During the last decade, the demand for real estate was artificially created by very relaxed lending standards combined with a large amount of inventory added to the market to meet the demand. Below is a chart illustrating the amount of inventory of homes for sale just prior to the market crash in 2008.

blog johnsabia.com - graph of 2008 inventory

During a normal real

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Why You Should Not Sell FSBO (For Sale By Owner)

In today's real estate housing market, with soaring home prices and a shortage of supply of inventory, some homeowners may consider selling For Sale By Owner (FSBO). There are many reasons why this may not be the best decision for the vast majority of home-sellers.

1. Buyer Exposure - According to a recent study from NAR (National Association of Realtors) in 2017, 95% of home-buyers begin their search online for a home as compared to only 15% who search the ad section in the local newspaper. Most professional real estate agents have an internet strategy to promote your home for sale online. Do you?

2. Internet Results - Where did actual home-buyers find the home or condo they purchased? the

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