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.
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!
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
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
As the housing market travels down the road to complete recovery, the housing bust of a decade ago is a faded memory. Home values have increased, home and condo sales are up, and distressed properties (short sales and foreclosures) have dropped to the lowest points in years. Forecasts for the housing market the rest 2018 is a continued strengthening.
However, the shortage of inventory may be a cause for concern. Buyer Demand typically rises during the summer months, however, the supply of properties is not keeping up with the demand.
Industry Expert's Take
NAR's Chief Economist, Lawrence Yun was quoted as saying, "The worsening inventory crunch through the first 3 months of the year inflicted even
As you can see from the above chart, closed sales in May for homes for sale in Fort Lauderdale totaled 1,518 as compared to 1,580 on year ago (-3.9%). There were a total of 289 cash transactions. The median Sales Price in May was $355,000 up 6% from $335,000 last year. Median Days on the market was 34 days, down 10.5%. In May there was a 4.1 Month supply of inventory for homes, up ever so slightly from last year.
Closed Sales for Condos for sale in Fort Lauderdale in May totaled 1,667 up 1.2% from 1,647 same period last year. There wee 888 cash transactions. The Median condo sales price in May was $168,000 up 5.7% from $159,000 same time last year. Median Days on the Market in May was 45 days, down 16.7%. In May, the inventory level for condos was
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.
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:
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
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
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."