Fort Lauderdale Real Estate Blog

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 Lending Standards

With record high appreciation rates for home values, many are worried that another housing bubble may be in the distant future. The last housing bubble was ten years ago. Loosening of standards for mortgage credit was one of the reasons we experienced the housing boom and bust.

The University of North Carolina completed a study right after the crisis and found: "lenders began originating large numbers of high risk mortgages from around 2004 to 2007, and loans from those vintage years exhibited higher default rates than loans made either before or after."  

Another study revealed those very risky loans were the reason for the housing crisis. Findings from John V Duca, John Muellbauer, and Anthony Murphy revealed, "Our

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Parents Say Their Kid's Opinion On What House To Buy Matters

Harris Poll recently released a study by Sun Trust Mortgage reporting that "55% of homeowners with a child under the age of 18 at the time when they purchased their home said that the opinion of their child played a significant part in their decision to buy."

Diving further into the report by parent's age, millennials (18-36 year olds) lead the pack with 74% of home-owners stating that the opinion of their child was a big contributing factor in choosing the home they purchased. 

83% of renters believe that their child's opinion on which home to purchase will be a significant factor in their decision process when they begin looking at homes for sale or condos for sale.

With That

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Now Is Not A Good Time To Rent!

I'm often asked "how's the market" or "is now a good time to buy?". However, one question I'm never asked, is if it's a good time to rent! I would like to make sure that everyone understands, now is NOT a good time to rent at all!

Recently released by the Census Bureau, was the 2018 first quarter median rent numbers. Per their report, and illustrated below in the graph; the findings show increases in rental payments from 1988 to present day:

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As you can see, rents have steadily been in the rise and are showing no indications of slowing down. If you are debating whether or not to continue renting when your lease expires, you may be pleasantly surprised that you may be qualified to buy a home or condo of your

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Days On Market Drops In April

The National Association of Realtors (NAR) recently released data showing the median number of days a property spent on the market for sale reached a new low of twenty-six days in April, as 57% of homes were on the market for less than 30 days.

Lawrence Yun, NAR's Chief Economist was quoted saying:

"What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high."

Strong demand from homebuyers, a soaring economy, and a low supply of inventory of new and existing homes and condos for sale created the perfect

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Presenting An Offer In Today's Real Estate Market

After multiple times out looking at properties for sale, searching for the perfect "home", you've finally  found it! The price fits your budget, and in today's extremely competitive real estate market, you want to do everything you can to present a great offer to the seller, so that your dream home becomes a reality.

Here are four steps to take from Freddie Mac to assist buyers make offers to purchase, as well as additional information you should consider:

Determine The Price You Want To Pay

"you've found the perfect home and you're ready to buy. Now what? Your real estate agent will be by your side, helping you determine an offer price that is fair."

Your agent, based on experience and

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Why Summer Is A Great Time To Buy A Home

 Below are four great reasons to buy a home or condo this summer instead of waiting:

  1. Prices Are On the Rise - Home Price Insights (Corelogic) most recent report indicates that over the past twelve months, homes and condos have appreciated by 7 percent and will continue to rise at a rate of 5.2 percent over the next year. Home values will continue on the upward trend. It doesn't make sense to wait.
  2.  Mortgage Interest Rates Expected to Rise - Freddie Mac's Primary Market Mortgage Survey reveals interest rates for a 30-year mortgage have risen by half of a percentage point already this year to approximately 4.5%. Many experts agree that interest rates will continue to rise over the next year. Fannie
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Top Reasons For HomeOwnership

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Some Highlights

  • June is National Homeownership Month!
  • Now is the perfect time to consider the many benefits of homeownership aside from financial reasons.
  • What does owning your own home mean to you?

Contact us When your are ready to begin the home-buying process. We're here to help!

Fort Lauderdale Real Estate

Disclaimer:The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. John Sabia PA and Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own

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Mortgage Rates & Home Prices

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Since the beginning of 2018, mortgage interest rates have risen by more than 1/2 of one point, and indications are that rates will increase by an additional half of a point by December. Because of the increase in rates, there are speculations that home prices will fall. However, industry experts are doubtful that home prices will be negatively impacted by the increase in rates.

First American Chief Economist Mark Fleming opines, "Understanding the resiliency of the housing market in a rising mortgage rate environment puts the likely rise in mortgage [Interest] rates into perspective - they are unlikely to materially impact the housing market..

The driving force behind the increase are healthy economic

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10 Do's and Don'ts

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Are you a first-time homebuyer? Are you considering a home or condo purchase in the near future? If you answered yes to either question and you will be obtaining financing, here are some important do's and don'ts you should keep in mind:

The Don'ts - Do not do these:

  • Don't apply for any new credit
  • Don't max out or go over your the limit of credit cards
  • Don't consolidate debt onto one or two credit cards

The Do's - You should Do These:

  • Do Keep all your credit card accounts open
  • Do stay employed with your current employer OR stay in same line of work
  • Do pay off collections, judgements or tax liens that have been reported in past 12 months
  • Do be prepared to pay off collections if required to do so
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Millenials Prefer Their Dream Home NoW!

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Millennials have created a new trend with regards to housing. With high home prices across the country, many first-time homebuyers are choosing not to purchase traditional starter homes and instead focus on moving straight to their dream homes.

What Is A Starter Home?

A starter home is defined by NAR (National Association of REaltors) as a one or two-bedroom home (sometimes a small three bedroom). "Home prices vary market to market, but on average, starter homes cost $150,000 - $250,000 while trade-up and premium priced homes cost upwards of $300,000."

Choosing Forever Homes From The Start

In a recent article from CNBC, it was reported that there were many reasons that older millennials (ages

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