Buying a Home May Make More Sense Than RentingSome Highlights If you’re trying to decide whether to rent or buy a home, there are a few things you should consider. Homeownership can help you escape the cycle of rising rents, builds your wealth, and serves as a hedge against inflation. If you’re ready to take advantage of the benefits of homeownership, let’s connect to explore your options. 05/29/2023

4 Tips for Making Your Best Offer on a HomeAre you planning to buy a home this spring? Though things are more balanced than they were at the height of the pandemic, it’s still a sellers’ market. So, when you find the home you want to buy, remember these four tips to make your best offer.1. Lean on a Real Estate ProfessionalRely on an agent who can support your goals. As Bankrate notes:“. . . select the best real estate agent for your needs. They will be a critical part of your home buying process.”Agents are local market experts. They know what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out.2. Know Your BudgetUnderstanding your budget is especially important rig... 05/29/2023

Could a Multigenerational Home Be the Right Fit for You?During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR): “Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.” And citing data from Pew Research Center, the Wall Street Journal (WSJ) says:“. . . multigenerational living has made a comeback in recent years, particularly after ... 05/29/2023

2 Things Sellers Need To Know This SpringA lot has changed over the past year, and you might be wondering what’s in store for the spring housing market. If you’re planning to sell your house this season, here’s what real estate experts are saying you should keep in mind.1. Houses That Are Priced Right Are Still SellingHouses that are updated and priced at their current market value are still selling. Jeff Tucker, Senior Economist at Zillow, says:“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”The need to price your house right is so important today because the market has changed so much over the past year. Danielle Hale, Chief Economist at realtor.com, explains:“With a smaller pool of buyers today and more competition from other hom... 05/29/2023

Where Will You Go After You Sell Your House? Some Highlights  If you’re thinking of selling your house, be sure to explore all the options you have for your next home. Both newly built homes and existing homes offer plenty of unique benefits. If you have questions about the options in our area, let’s discuss what’s available and what’s right for you. 05/29/2023

Equity Gains for Today’s HomeownersToday’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates.  How Equity Has Grown in Recent Years   Because of the imbalance between how many homes were for sale and the number of homebuyers in the market over the past few years, home prices appreciated substantially. And while price appreciation has slowed this year, that doesn’t mean you’ve lost all the equity in your home. In fact, the latest Homeowner Equity Insights report from CoreLogic finds the average homeowner’s equity has grown by $34,300 over the past year alone. And if you’ve been in... 05/29/2023

An Expert Makes All the Difference When You Sell Your HouseIf you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional can ensure you’ll get the most out of your sale. 1. They’re Experts on Market Trends With today’s housing market defined by change, it’s critical to work with someone who knows the latest information and how it impacts your goals. An expert real estate advisor knows about national trends and your local area too. More importantly, they’ll give insight to what all of this means for you, so they’ll be able to help you make a decision based on trustworthy, data-bound information. 2. A Local Professional Knows How To Set the Right Price fo... 05/27/2023

What You Should Know About Rising Mortgage RatesAfter steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down. The recent uptick in rates has been driven by what’s happening with inflation. Joel Kan, Vice President and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains:  “Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Res... 05/27/2023

One Major Benefit of Investing in a HomeOne of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac: “Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.” With spring approaching, now’s a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional. The Largest Part of Most Homeowners’ Net Worth Is Their Equity You may be surprised to learn just how much of a homeowner’s net worth actually comes from owning their home. The National Association of Realtors (NAR) shares: “Homeownership is the largest source of wealth among families, ... 05/27/2023

How To Make Your Dream of Homeownership a RealityAccording to a recent Harris Poll survey, 8 in 10 Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial benefits, so that interest is understandable. However, it’s unlikely all 28 million Americans will accomplish that goal in the coming year. Experts project a total of around five million homes will be sold in 2023. Why is there such a big difference? It’s partly because there can be challenges to buying a home. In the same survey, when asked, “Which of the following are preventing you from pursuing homeownership at this time?”:   34% answered, “I don’t have enough saved for a down payment”  30% answered, “My credit score”... 05/27/2023

A Smaller Home Could Be Your Best OptionMany people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), says: “As we see the transition of the large Baby Boomer generation age into retirement, it will be interesting to see if they move in with their Millennial and Gen Z children or if they stay put in their own homes.” Lautz lists two options: move into a multigenerational home with loved ones, or stay in your current house. Multigenerational living is rising in popularity, but it isn’t an option for everyone. And staying put may fit fewer... 05/27/2023

The Two Big Issues the Housing Market’s Facing Right NowThe biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” Let’s break down these two big issues in today’s housing market. Rate-Locked Homeowners According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):  But today, the typical mortgage rate offered to buyers is over 6%. As a result, many homeowners are opting to stay put instead of moving to another home with a highe... 05/25/2023

Spring into Action: Boost Your Home’s Curb Appeal with Expert GuidanceTo sell your home this spring, it may need more preparation than it would have a year or two ago. Today’s housing market has a different feel. There are more homes for sale than there were at this time last year, but inventory is still historically low. So, if a house has been sitting on the market for a while, that’s a sign it may not be hitting the mark for potential buyers. But here’s the thing. Right now, homes that are updated and priced at market value are still selling fast. Today, homes with curb appeal that are presented well are still selling quickly, and sometimes over asking price. According to Danielle Hale, Chief Economist at realtor.com: “In a market where costs are still high and buyers can be a little... 05/25/2023

Wondering What’s Going on with Home Prices?The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices.   Local price trends still vary by market. But looking at national data, Nataliya Polkovnichenko, Ph.D., Supervisory Economist at the Federal Housing Finance Agency (FHFA), explains: “U.S. house prices were largely unchanged in the last four months and remained near the peak levels reached over the summer of 2022. While higher mortgage rates have suppressed demand, low inventories of homes for sale have helped maintain relatively flat house prices.” Month-over-month home price changes can be seen in the chart be... 05/25/2023

Why It’s Easy To Fall in Love with HomeownershipNo matter how the housing market changes, there are some things about owning a home that never change—like the personal benefits it can provide. When you own your home, you likely feel a sense of attachment because of the comfort it gives and also because it’s a space that’s truly yours.Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them. As a result, the emotional benefits our homes provide have become even more important to us.As the most recent State of the American Homeowner from Unison puts it: “. . . one thing has stayed the same: the home continues to be of the utmost importance and a place of security and comfort.” The same study from Unison notes: 91% of homeowners say the... 05/25/2023

2/2 Pine Island Ridge Condo SELLS for $264,499!A 2/2 Pine Island Ridge corner unit condo SELLS for $264,499!  This condo with updated kitchen and bathrooms is in a "Private Golf & Country Club" community and has tranquil lake views! Enjoy access to a variety of country club amenities including golf, gym, restaurants, tennis, meeting rooms, community pool & much more!  This condo is close to many great restaurants, shopping malls including Westfield Broward Mall and The Fountains Plaza and movie theaters.  If golf is your game, you have plenty to chose from in the area between the Davie Golf Club, Jacaranda Golf Club, or the Pine Island Ridge Country Club.The great Davie schools that the children living in this home will attend are Fox Trail Elementary School, Indian Ridge Middle School ... 05/25/2023

What You Should Know About Closing CostsBefore you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for. What Are Closing Costs? People are sometimes surprised by closing costs because they don’t know what they are. According to Bankrate: “Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .” In other words, your closing costs are a collection of fees ... 05/25/2023

How To Win as a Buyer in Today’s Housing Market   Some Highlights  In today’s housing market, you can still be the champion if you have the right team and strategy. To win as a buyer, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd. Let’s connect today to make your game-winning play. 05/25/2023

A Beautiful 4 Bed/2 Bath Davie Pool Home SELLS for $710,000!    A beautiful 4 bed/2 bath davie pool home SELLS for $710,000!   This home is a true Florida paradise with sparkling play pool, large covered patio & plenty of yard space for games, playground and pets. The split bedroom plan has big rooms, a HUGE upgraded eat in kitchen and an abundance of natural light and pool views from the 4 sets of sliding doors.  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 that offers a splash pad and playground for you to enjoy with your family.  This home is also close to great entertainment, dining and shopping o... 05/25/2023

Why Today’s Housing Market Isn’t Headed for a Crash67% of Americans say a housing market crash is imminent in the next three years. With all the talk in the media lately about shifts in the housing market, it makes sense why so many people feel this way. But there’s good news. Current data shows today’s market is nothing like it was before the housing crash in 2008. Back Then, Mortgage Standards Were Less Strict During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. Banks were creating artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance an existing one. As a result, lending institutions took on much greater risk in both the person and the mortgage products offered. Tha... 05/24/2023