Shenandoah 4/2.5 Home on Lake in Davie SELL$ for $875,000!  A Shenandoah 4/2.5 home on lake in Davie SELL$ for $875,000! The new owners of this absolutely STUNNING home have over $115,000 in recent upgrades including BRAND NEW roof and impact windows and doors.  Stepping outside to a true Florida oasis that is complete with a large covered patio, huge pool/spa, BIG fenced yard and gorgeous sunsets views. The community of Shenandoah is conveniently located near great shopping, restaurants, FLA Live Arena and major highways for easy commuting.  Shenandoah Park is close by with a revamped playground, splash pad and tennis. 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.If ... 08/02/2023

3/2 Vista Filare Single Family Home on Lake SELLS for $575,300! A 3/2 Vista Filare single family home on lake SELLS for $575,300!  The new family of this adorable home in Davie's popular Vista Filare community has a spacious yard overlooking a beautiful lake with plenty of room to play and garden.  This home is  in a terrific location and close to great shopping including, Publix, Sawgrass Mills Mall, Ikea and FLA Liv Arena for hockey games and concerts.The great Davie schools that the children of Vista Filare will attend are:  Flamingo Elementary School, Indian Ridge Middle School and Western High School. If you are interested in homes similar to this 3/2 Vista Filare single family home on lake that SOLD for $575,300 or the surrounding area, contact an agent from the Teri Arbogast Team... 07/11/2023

Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing MarketSome Highlights Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years. Expect unsettling housing market headlines this year, mostly due to unfair comparisons with the ‘unicorn’ years. Let’s connect so I can share the data that puts those headlines in the proper perspective. 07/05/2023

This Real Estate Market Is the Strongest of Our LifetimeWhen you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing MortgagesFirst, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that one step further, over 50% of mortgages have a rate below 4% (see graph below):Now, there’s a lot of talk in the media about a potential foreclos... 07/05/2023

The Main Reason Mortgage Rates Are So HighToday’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions:  Why Are Mortgage Rates So High? When Will Rates Go Back Down? Here’s context you need to help answer those questions. 1. Why Are Mortgage Rates So High? The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). According to Investopedia: “Mortgage-backed securities (MBS) are investment products similar to bonds. Each MBS consists of a bundle of home loans and other real estate debt bought from the banks that issued them . . . The ... 07/05/2023

Oops! Home Prices Didn’t Crash After AllDuring the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts:Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:“I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.”Mark Zandi, Chief Economist at Moody’s Analytics: "Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner rather than later. And house prices will fall 20% if there is a typical recession.” Goldman Sachs:  “Housing is already cooling in the U.S., according to July data t... 07/02/2023

With mortgage rates having doubled what they were in early 2022, getting the lowest rate possible could mean the difference in being able to buy a home or at the very least, makes it much more affordable.  Some people are waiting for rates to come down and while they are expected to come down some this year, most experts agree that they'll never return to the three or even four percent range. There are things that a buyer can do to be eligible for the best rate available.  Obtaining the most favorable terms is based on the loan-to-value, your credit rating, and your ability to repay the mortgage.While lenders can impose their own underwriting criteria, the basic qualifying guidelines are identified as the 4 Cs: Capital - money and savings, plus other investments providing for down payme... 07/02/2023

Why the Median Home Price Is Meaningless in Today’s MarketThe National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may feel a bit confusing, especially if you’ve been following along and seeing the blogs saying that home prices have bottomed out and turned a corner.So, why will this likely say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each report. NAR reports on the median sales price, while some other sources use repeat sales prices. Here’s how those approaches differ.The Center... 07/01/2023

Saving for a Down Payment? Here’s What You Need To Know.If you're planning to buy your first home, then you're probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As the National Association of Realtors (NAR) notes:“One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”And a recent Freddie Mac survey finds:“. . . 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 t... 07/01/2023

How Owning a Home Grows Your Wealth with TimeSome Highlights If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership. Over time, homeownership allows you to build equity. On average, nationwide home prices appreciated by 290.2% over the last 32 years. That means your net worth can grow significantly in the long term when you own a home. Let’s connect so you can start your homebuying journey today. 07/01/2023

Why Buying or Selling a Home Helps the Economy and Your CommunityIf you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life, but also your community.The National Association of Realtors (NAR) releases a report every year to show how much economic activity is generated by home sales. The chart below illustrates that impact:As the visual shows, when a house is sold, it can make a big difference in the local economy. The impact comes largely from the workers required to build, update, and buy and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a community: “The economic impact means housing is a significant job creator. In fact, for every singl... 07/01/2023

A Drop in Equity Doesn’t Mean Low EquityYou may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently. Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter. As home prices dropped slightly in the back half of 2022, equity was impacted. Based on the most recent report from CoreLogic, there was a 0.7% dip in homeowner equity over the last year. However, the headlines reportin... 07/01/2023

Real Estate Is Still Considered the Best Long-Term InvestmentWith all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.Why Do Americans Still Feel So Positive About the Value of Investing in a Home?Purchasing real estate has typically been a solid long-term strategy for building wealth ... 06/30/2023

Reasons To Own Your HomeSome Highlights June is National Homeownership Month, and it’s a perfect time to think about all the benefits that come with owning your home. Owning a home not only makes you feel proud and accomplished, but it’s also a big step toward having a secure and stable financial future. Are you ready to enjoy all the amazing advantages that come with owning a home? Let’s get in touch to start the process today. 06/30/2023

Keys to Success for First-Time HomebuyersBuying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years: “Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight inventory, rising home prices, rising rents and high student debt loads.”That said, if you’re looking to purchase your first home, here are two things you can consider to help make your dreams a reality.Save Money with First-Time Homebuyer ProgramsBeing able to pay for the initial costs and fees associated ... 06/30/2023

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped OffComparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word: “Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last few years. The demand for a home of our own skyrocketed, and people needed a home office and big backyard.  Waves of first-time and second-home... 06/30/2023

Moving Now Can Give Your House Its Day in the SunSome Highlights If you want to sell your house, consider doing it this summer. The days are longer, the weather is warmer, and it’s a great time for sellers. If your needs have changed, now’s the time to capitalize on the low inventory and multiple offers in today’s sellers’ market. Let’s connect today if you’re ready to sell your house and move to a home that meets your changing needs. 06/30/2023

Owning a Home Helps Protect Against InflationYou’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you’re a renter, you’re likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be wondering if it still makes sense to buy a home today. The short answer is – it does. Here’s why. Homeownership actually shields you from the rising costs inflation brings.Freddie Mac explains how:  “Not only will buying today help you begin to build equity, a fixed-rate mortgage can stabilize your monthly housing costs for the long-term even while other life expenses continue to rise – as has been the case the past few years.” Unlike rents, which tend ... 06/30/2023

Tips To Help You Buy a Home in Today’s MarketUse these tips to make your best offer in today’s sellers’ market. Let’s connect so I can help you buy that home you’ve been wanting.Watch Now 06/22/2023

A 4/2.5 Pool Home on Lake in Shenandoah SELLS for $805,000!A 4/2.5 pool home on lake in Shenandoah SELLS for $805,000!  The new owners of this beautiful home will get to experience day after day, breathtaking sunsets, tropical breezes from the wide lake that you can fish or canoe on, right from your own yard, a sparkling pool with a big patio and built in BBQ, and a side yard with plenty of room for a boat or garden.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 ... 06/19/2023