Why It Makes Sense To Move Before SpringSpring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up. Spring Should Bring a Wave of Buyers to the Market In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of buyers begin their search. And experts project that this year will be no exception. Right now, buyer demand is low due to a combination of normal seasonal trends a... 05/17/2023

Pre-Approval in 2023 What You Need To KnowOne of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:  “In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much you may be approved to borrow, and what your rate could be.” Basically, pre-approval gives you critical information about the homebuying process that’ll help you understand your options and what you may be able to borrow. How does it work? As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to h... 05/17/2023

Is It Time To Sell Your Second Home?During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious. A recent report from the Institute for Luxury Home Marketing (ILHM) explains just how much remote work impacted the demand for second and luxury homes: “The unprecedented ten-fold increase towards remote wo... 05/17/2023

Homeownership Wins Over Time  Some Highlights  If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide, home prices appreciated by 290.2% since 1991. Homeownership wins in the long run. If you’re ready to buy a home, let’s connect today.  Some Highlights If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide, home prices appreciated by 290.2% since 1991. Homeownership wins in the long run. If you’re ready to buy a home, let’s connect today. 05/17/2023

Davie Single Family Homes Statistics For April 2023 05/16/2023

Beautiful 4/2.5 Shenandoah Pool Home on Lake FOR SALE for $768,000!  Step inside to this large Harrisburg model complete with 4 large bedrooms, 2.5 bathrooms and a handy interior laundry room!  This home is light and bright from the many high grade impact windows and doors throughout.  The kitchen that opens to the substantial family room, has been upgraded with wood cabinets, granite countertops and stainless appliances.This home has one of the prettiest views in Shenandoah! You can enjoy the  breathtaking sunsets and tropical breezes from the wide lake, canoe or fish from your own backyard.  The sparkling pool along with a big patio and a built in BBQ is a great place to splash and entertain. There is a big side yard with plenty of room for your boat or garden. The top rated Broward C... 04/27/2023

A Shenandoah 4 Bed/2 Bath Home on a Lake SELLS for $685,000!    A Shenandoah 4 bed/2 bath home on a lake SELLS for $685,000!   This beautiful home sits on an ENORMOUS CORNER LOT and a beautiful lake in the Shenandoah community in Davie.  The new owners of this home will have beautiful water views from all living areas and a yard that is big enough to play, boat, garden or even add a brand new pool to! The top rated Broward County schools that children living in this home will attend are Flamingo Elementary School, Indian Ridge Middle School and Western High School.The Shenandoah community offers walking trails and a brand new park within walking distance for you to enjoy with your family and sidewalks to stroll in the morning or evening.  This home is also close to great entertainment, ... 04/25/2023

Davie Florida Real Estate Condos, Villa's and Townhome Market Report for March 2023. With 15 Closed Real estate closings and 31 new listings. The active inventory is 2.07 months in March and the average days on market are 16 days.Find Out What Your Neighbors Homes Are Selling For --> DavieHomeValuesDavie Condos, Villa's and Townhomes for sale --> SearchCondosNowDavie Single Family homes for sale --> SearchSingleFamilyDavie Vacant Land For sale -->  VacantLandForSale  04/15/2023

Davie Florida Real Estate Single Family Market Report for March 2023. With 45 Closed Real estate closings and 53 new listings. The active inventory is 1.18 months in March and the average days on market are 25 days.Find Out What Your Neighbors Homes Are Selling For --> DavieHomeValuesDavie Condos, Villa's and Townhomes for sale --> SearchCondosNowDavie Single Family homes for sale --> SearchSingleFamilyDavie Vacant Land For sale -->  VacantLandForSale 04/15/2023

Davie Florida Real Estate Condos, Villa's and Townhome Market Report for February 2023. With 10 Closed Real estate closings and 23 new listings. The active inventory is 2.30 months in February and the average days on market are 30 days.Find Out What Your Neighbors Homes Are Selling For --> DavieHomeValuesDavie Condos, Villa's and Townhomes for sale --> SearchCondosNowDavie Single Family homes for sale --> SearchSingleFamilyDavie Vacant Land For sale -->  VacantLandForSale 04/15/2023

Davie Florida Real Estate Single Family Market Report for February 2023. With 29 Closed Real estate closings and 54 new listings. The active inventory is 1.86 months in February and the average days on market are 21 days.Find Out What Your Neighbors Homes Are Selling For --> DavieHomeValuesDavie Condos, Villa's and Townhomes for sale --> SearchCondosNowDavie Single Family homes for sale --> SearchSingleFamilyDavie Vacant Land For sale -->  VacantLandForSale 04/15/2023

The biggest shock to homebuyers is the soaring mortgage rates of 2022 that doubled in one year resulting in approximately 15 million mortgage ready buyers displaced from the market due to affordability issues. As of February 23, 2023, the 30-year fixed rate mortgage was at 6.5%.  While that is twice as high as it was on January 6, 2022, it is still lower than the 7.75% average rate since April 2, 1971, according to the Freddie Mac Primary Mortgage Market Survey. When rates increase at a rapid pace like this, it takes time for the public to adjust and begin to accept it as the new normal. Prior to the housing bust that led to the Great Recession, the normal for mortgage rates was in the 6% range and existing home sales were over 6.5 million for three years.  From 2007 to 2014, home sales... 03/29/2023

Today’s Housing Market Is Nothing Like 15 Years Ago There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences. In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle: Looking at the facts, it’s clear: today is very different than the housing market of 15 years ago. There’s Opportunity in Real Estate Today And... 03/29/2023

The Truth About Negative Home Equity Headlines Home equity has been a hot topic in real estate news lately. And if you’ve been following along, you may have heard there’s a growing number of homeowners with negative equity. But don’t let those headlines scare you. In truth, the headlines don’t give you all the information you really need to understand what’s happening and at what scale. Let’s break down one of the big equity stories you may be seeing in the news, and what’s actually taking place. That way, you’ll have the context you need to understand the big picture. Headlines Focus on Short-Term Equity Numbers and Fail To Convey the Long-Term View One piece of news circulating focuses on the percentage of homes purchased in 2022 that are currently underwater. The term underwater refe... 03/29/2023

3 Best Practices for Selling Your House This Year A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of attachment to your current one. A great way to ease some of those emotions and ensure you’re feeling confident in your decision is to keep these three best practices in mind. 1. Price Your Home Right The housing market shifted in 2022 as mortgage rates rose, buyer demand eased, and the number of homes for sale grew. As a seller, you’ll want to recognize things are different now and price your house appropriately based on where the market is today. Greg McBride, Chief Financial Analyst at Bankrate, explains: “Price your home realist... 03/29/2023

Wondering How Much You Need To Save for a Down Payment? If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don't let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t Always the Typical Down Payment Freddie Mac explains: “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.” Unless specified by your loan type or lender, it’s typically not required to put 20% down. This means you could be closer to your homebuying dream than you realize. According to the ... 03/29/2023

What Are Your Goals in the Housing Market This Year? If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high inflation had a big impact on the economy, the housing market, and likely on your wallet too. That’s why it’s critical to have a clear understanding of not just the market today, but also what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at realtor.com, explains: “The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, so that you can stay in your home long enough tha... 03/29/2023

Planning To Sell Your House? It’s Critical To Hire a Pro. With higher mortgage rates and moderating buyer demand, conditions in the housing market are different today. And if you’re thinking of selling your house, it’s important to understand how the market has changed and what that means for you. The best way to make sure you’re in the know is to work with a trusted housing market expert. Here are five reasons working with a professional can ensure you’ll get the most out of your sale. 1. A Real Estate Advisor Is an Expert on Market Trends Leslie Rouda Smith, 2022 President of the National Association of Realtors (NAR), explains: "During challenging and changing market conditions, one thing that's calming and constant is the assurance that comes from a Realtor® being in your corner thr... 03/29/2023

Applying For a Mortgage? Here’s What You Should Avoid Once You Do. While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much deb... 03/23/2023

Financial Fundamentals for First-Time Homebuyers Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home. Build Your Credit Your credit is one element that helps determine which home loan you’ll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run. So how do you make sure your credit is in the best shape possible when it’s time to buy? A recent article from NerdWallet lists a few tips you can use as you work to build and strengthen your credit. Th... 03/22/2023