South Florida Real Estate 411

Why a Foreclosure Wave Isn’t on the Horizon

Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming?

Here's a look at why the data and the experts say that’s not going to happen.

There Aren’t Many Homeowners Who Are Seriously Behind on Their Mortgages

One of the main reasons there were so many foreclosures during the last housing crash was because relaxed lending standards made it easy for people to take out mortgages, even when they couldn’t show they’d be able to pay them back. At that time, lenders weren’t being as strict when looking at applicant credit scores, income levels, employment status...



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Why a Foreclosure Wave Isn’t on the Horizon Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets.

How Affordability and Remote Work Are Changing Where People Live

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.

Consider Moving to a More Affordable Area

Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower.

If you’re hoping to buy a home soon, it might make sense to broaden your search area to include places where homes that fit your needs are more affordable. That’s what a lot of other people are doing right now to find a home within their budget.

Remote Work Opens Up More Home Options

If you work remotely or drive into the office only a few times each...



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How Affordability and Remote Work Are Changing Where People Live There’s an interesting trend happening in the housing market.

How To Determine if You’re Ready To Buy a Home

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. Instead of trying to time the market, focus on what you can control. Here are a few questions that can give you clarity on whether you’re ready to make your move.

1. Do You Have a Stable Job?

One thing to consider is how stable you feel your employment is.

2. Have You Figured Out What You Can Afford?

If you have reliable paychecks coming in, the next thing to figure out is what you can afford.

3. Do You Have an Emergency Fund?

Another key factor is whether you’ll have enough cash leftover in case of an emergency.

4. How Long Do You Plan To Live There?

5. Above all else, the most important question to answer is: do you have a team of real estate professionals in place?

If not, finding a trusted local agent and a lender is a...



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How To Determine if You’re Ready To Buy a Home If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind.

Why Fixing Up Your House Can Help It Sell Faster

If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices. But they want a home that’s move-in ready.

It makes sense when you think about it. They’re having to pay a lot of money for a house in today’s market. That means they may not be able to easily afford upgrades after they move in. So, if your home is outdated or needs some work, buyers might pass it by or offer a lower price than you were hoping for.

If your house falls into this category, it's important to consider making selective updates to help it appeal to buyers, so it sells faster. But how do you know where to spend your time and money?

Why You Need a Real Estate Agent

By working with a local real estate agent to be strategic about the improvements you make, you can be sure you’re making a smart...



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Why Fixing Up Your House Can Help It Sell Faster If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices.

Why Your Asking Price Matters Even More Right Now

If you’re thinking about selling your house, here’s something you really need to know. Even though it’s still a seller’s market today, you can’t pick just any price for your listing.

While home prices are still appreciating in most areas, they’re climbing at a slower pace because higher mortgage rates are putting a squeeze on buyer demand. At the same time, the supply of homes for sale is growing. That means buyers have more options and your house may not stand out as much, if it’s not priced right.

Those two factors combined are why the asking price you set for your house is more important today than it has been in recent years.

And some sellers are finding that out the hard way. That’s leading to more price reductions. That’s because they haven’t adjusted their expectations to today’s market.

If you want to avoid making a...



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Why Your Asking Price Matters Even More Right Now If you’re thinking about selling your house, here’s something you really need to know.

How Do Presidential Elections Impact the Housing Market?

Are you wondering if the upcoming election will have an impact on the housing market? Here’s what history tells us you need to know if you’re considering a move. Data shows home sales slow in November but quickly bounce back and rise the following year. Prices usually keep climbing. And mortgage rates typically come down slightly. Presidential elections have only a small and temporary impact on the housing market. If you have questions, let’s connect.



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How Do Presidential Elections Impact the Housing Market? Are you wondering if the upcoming election will have an impact on the housing market?

Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008

Even if you didn't own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then.

Homeowners Deciding To Sell Their Houses

Although the supply of existing (previously owned) homes is up compared to this time last year, it’s still low overall. And while this varies by local market, nationally, the current months’ supply is well below the norm, and even further below what we saw during the crash.

New Home Construction

People are also talking a lot about what's going on with newly built houses these days, and that might make you wonder if homebuilders are overdoing it. Even though new homes make up a...



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Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008 Even if you didn't own a home at the time, you probably remember the housing crisis in 2008.

Things To Avoid After Applying for a Mortgage [INFOGRAPHIC]

There are a few key things you’ll want to avoid after applying for a mortgage to make sure you’re in the best position when you get to the closing table. Don’t change bank accounts, apply for new credit, make any large purchases or transfers, and don’t co-sign loans for anyone. Here’s a good rule of thumb. Always connect with your loan officer before making any financial decisions once you’ve started the mortgage process.



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Things To Avoid After Applying for a Mortgage [INFOGRAPHIC] There are a few key things you’ll want to avoid after applying for a mortgage to make sure you’re in the best position when you get to the closing table.

What To Do When Your House Didn’t Sell

If your listing expired and your house didn’t sell, it’s totally natural to feel a mix of frustration and disappointment. And as you’re working through that, you’re probably also wondering what went wrong and what you should do next.

Was It Priced for Today’s Market?

Setting the right price from the start is key. While it might be tempting to try shooting high with your price, that can slow down the selling process big time. If your house was priced higher than others similar to it, it may have turned away buyers. And that’s likely why it sat on the market.

Was It Easy for Buyers To Tour?

One of the biggest mistakes you can make when selling your house is overly restricting the days and times when potential buyers can tour it.

Was It Set Up To Make the Best Impression on Buyers?

If buyers weren’t interested in your house, it’s worth...



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What To Do When Your House Didn’t Sell If your listing expired and your house didn’t sell, it’s totally natural to feel a mix of frustration and disappointment.

Homeowners Gained $28K in Equity over the Past Year

If you own a home, your net worth has probably gone up a lot over the past year. Home prices have been rising, which means you're building equity much faster than you might think. Here’s how it works.

Equity is the current value of your home minus what you owe on the loan.
Over the past year, there have still been more people wanting to buy than there are homes available for sale, and that’s pushed prices up. That rise in prices has translated directly into increasing equity for homeowners.
How Much Equity Have You Earned over the Past 12 Months?

According to the latest Homeowner Equity Insights from CoreLogic, the average homeowner's equity has grown by $28,000 in the last year alone.

What If You Bought Your House Before the Pandemic?

If you bought your house before the pandemic, the equity news is even better...



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Homeowners Gained $28K in Equity over the Past Year If you own a home, your net worth has probably gone up a lot over the past year.

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How Long Will It Take To Sell My House?

You want your house to sell fast. And you may be wondering how long the whole process is going to take. One way to get your answer? Work with a local real estate agent.

They have the expertise to tell you how quickly homes are selling in your area and what’s impacting timelines for other sellers.

The Growing Supply of Homes for Sale

Over the past few months, the number of homes for sale has increased. This is good news when you move because it means you’ll have more options as you search for your next home. But it also means buyers have more to choose from, so if your house doesn’t stand out – it may take a bit longer to sell.

How It’s Impacting Listings Today

Think of the homes on the market like loaves of bread for sale in a bakery. When a fresh batch of bread is put out, everyone wants the newest and hottest one. But if a loaf...



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How Long Will It Take To Sell My House? You want your house to sell fast. And you may be wondering how long the whole process is going to take. 

Housing Market Forecast for the 2nd Half of 2024 [INFOGRAPHIC]

Wondering what the second half of the year holds for the housing market? Here’s what expert forecasts say. Home prices are expected to climb moderately. Mortgage rates are forecast to come down slightly. And, home sales are projected to hold steady. If you have questions about what to expect for the rest of the year, DM me so we can have a conversation about what it means for you and your plans.



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Housing Market Forecast for the 2nd Half of 2024 [INFOGRAPHIC] Wondering what the second half of the year holds for the housing market? Here’s what expert forecasts say. 

Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.

Home Prices Are Expected To Climb Moderately

Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry:

The reason for continued appreciation? The supply of homes for sale.

While inventory is up compared to the last couple of years, it’s still low overall. And because there still aren’t enough homes to go around, that’ll keep upward pressure on prices.

If you’re thinking of buying, the good news is you won’t have to deal with prices skyrocketing like they did during the pandemic. Just remember, prices aren’t expected to drop. They’ll continue climbing, just at a slower pace...



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Housing Market Forecast: What’s Ahead for the 2nd Half of 2024 As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.

What You Need To Know About Today’s Down Payment Programs

There's no denying it's gotten more challenging to buy a home, especially with today's mortgage rates and home price appreciation. And that may be one of the big reasons you’re eager to look into grants and assistance programs to see if there’s anything you qualify for that can help. But unfortunately, many homebuyers feel like they don’t know where to start.

A recent Bank of America Institute study asked prospective buyers where they lack confidence in the process and need more information. And this is what topped the list:

53% said they need help understanding homebuying grant programs.

So, here’s some information that can help you close that gap.

What Is Down Payment Assistance?

Contrary to what you may have heard, typically you don’t have to put 20% down unless it’s specified by your loan type or lender...



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What You Need To Know About Today’s Down Payment Programs There's no denying it's gotten more challenging to buy a home, especially with today's mortgage rates and home price appreciation.

The Downsides of Selling Your House Without an Agent

Considering selling your house without an agent? You should know there are some serious downsides to handling it on your own. You’ll be missing out on marketing tools that draw in more buyers, pricing and market expertise, essential negotiation skills, in-depth knowledge of the fine print in contracts, and so much more. Don’t take all of this responsibility on. Instead, DM me so you have someone with the knowledge and experience you’ll need on your side.



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The Downsides of Selling Your House Without an Agent Considering selling your house without an agent? You should know there are some serious downsides to handling it on your own.

Real Estate Is Still the Best Long-Term Investment [INFOGRAPHIC]

According to a recent poll from Gallup, real estate has been voted the best long-term investment for twelve straight years. That’s because a home is so much more just than a roof over your head. It’s also an asset that typically grows in value over time. If you’ve been debating if it makes more sense to rent or buy, DM me to talk about why homeownership can be a better bet in the long run.



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Real Estate Is Still the Best Long-Term Investment [INFOGRAPHIC] According to a recent poll from Gallup, real estate has been voted the best long-term investment for twelve straight years.

Homebuilders Aren’t Overbuilding, They’re Catching Up

You may have heard that there are more brand-new homes available right now than the norm. Today, about one in three homes on the market are newly built. And if you’re wondering what that means for the housing market and for your own move, here’s what you need to know.

Why This Isn’t Like 2008

People remember what happened to the housing market back in 2008. And one of the factors that contributed to that crash was that there were too many homes for sale. While only part of the oversupply back then came from builders, the lasting impact is that some people still feel uneasy when they hear new home construction has ramped up.

Even though the supply of new homes has grown this year, the data shows there’s no need to worry. Builders aren’t overbuilding, they’re just catching up.

New Home Construction May Be at Its...



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Homebuilders Aren’t Overbuilding, They’re Catching Up You may have heard that there are more brand-new homes available right now than the norm.

Selling Smart: Why a Real Estate Agent Makes All the Difference

If you’re considering selling your house on your own as a “For Sale by Owner” (FSBO), you want to think about if it’s really worth the extra stress.

Getting the Price Right

Setting the right price for your house is important. And, if you’re selling your house on your own, two common issues can happen. You might ask for too much money (overpricing). Or you might not ask for enough (underpricing). Either can make it hard to sell your house.

To avoid these problems, team up with a real estate agent. Agents know how to figure out the perfect price because they have a deep understanding of the local housing market.

Understanding and Performing Paperwork

Selling a house involves a bunch of paperwork and legal documentation that has to be just right. There are a lot of rules and regulations to follow, and that...



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Selling Smart: Why a Real Estate Agent Makes All the Difference If you’re considering selling your house on your own as a “For Sale by Owner” (FSBO), you want to think about if it’s really worth the extra stress.

Home Prices Aren’t Declining, But Headlines Might Make You Think They Are

If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify. Here’s what’s really happening with prices.

The key is knowing the difference between the asking price and the sold price.

Understanding Asking Price vs. Sold Price

In essence, the asking price, also known as a listing price, is the amount a seller hopes to get for their home when they list it. In reality, sellers can’t just put any price tag on their house and expect it to sell for top dollar.

Here’s the most important thing to note: Actual sold prices are still rising, and they’re expected to continue to do so at least over the next 5 years.

What Does This Mean for Home Prices?

So, while there's been an increase in price reductions recently, this doesn't mean...



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Home Prices Aren’t Declining, But Headlines Might Make You Think They Are If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify.

Your Equity Could Make a Move Possible

Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now. Today’s mortgage rates are higher than the one they currently have on their home, and that’s making it harder to want to sell and make a move.

What Is Equity?

Think of equity as a simple math equation.
Your equity grows as you pay down your loan over time and as home prices climb. And thanks to the rapid home price appreciation we saw in recent years, you probably have a whole lot more of it than you realize.

The latest from the Census and ATTOM shows more than two out of three homeowners have either completely paid off their mortgages.
That means the majority of homeowners have a game-changing amount of equity right now.

How Your Equity Can Help Fuel Your Move
• Be an all-cash buyer
• Make a larger down payment

The First Step: Determine...



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Your Equity Could Make a Move Possible Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now.

The Wealth-Building Power of Homeownership [INFOGRAPHIC]

If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time. According to the FHFA, home values have increased by 315.7% since 1991. Home equity is one reason owning your own place can really pay off in the long run. When you're ready, DM me.



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The Wealth-Building Power of Homeownership [INFOGRAPHIC] If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time.

The Sweet Spot for Buying Luxury Homes

If you’ve been looking for a home at the high end of your market, but haven’t found the right one, you may have put your search on hold. But according to recent data, now may be the time to jump back in. Here’s why.

There Are More Luxury Homes To Choose From

What’s considered the top-end of the market, or a luxury home, will always vary by location. But generally speaking, they’re homes that are valued in the top 5% of any given market. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing.

There are considerably more single-family luxury homes available now than there were a year ago. In fact, there are even more than there were just a month ago. This means you should have a wider variety of top-of-the-line homes to choose from, each with unique features and styles.

Rising...



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The Sweet Spot for Buying Luxury Homes If you’ve been looking for a home at the high-end of your market, but haven’t found the right one, you may have put your search on hold.

How Do Climate Risks Affect Your Next Home?

If you’re planning to move, climate change is something you might want to consider, no matter where you are. So, how can you be sure your investment is safe from the elements?

For starters, work with a local real estate agent to understand the likelihood of your future home being exposed to hazards like wind, floods, and wildfires. Your agent will know the area and be able to tell you about the risks you’ll most likely face.

A Home Built to Last

If you’re planning to be in your home for many years, you want to know it’s going to last. One way to think ahead is to work with your real estate agent to ensure the home you buy can withstand environmental hazards. They’re up to date on the most common building and remodeling techniques—like a secondary water barrier on the roof or noncombustible, fire-resistant exterior walls—used to...



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How Do Climate Risks Affect Your Next Home? Climate change is impacting where people buy homes.

The Biggest Mistakes Buyers Are Making Today

Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider.

Putting Off Pre-approval

As part of the homebuying process, a lender will look at your finances to figure out what they’re willing to loan you for your mortgage. This gives you a good idea of what you can borrow so you can really wrap your head around the financial side of things before you start looking at homes. Make sure you get your pre-approval first.

Holding Out for Perfection

While you may have a long list of must-haves and nice-to-haves, you need to be realistic about your home search. Even though your ideal state is you find a home that checks every box, you may need to be willing to compromise – especially since inventory is still...



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The Biggest Mistakes Buyers Are Making Today Buyers face challenges in any market – and today’s is no different.

Questions You May Have About Selling Your House

There’s no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move.

1. Should I Wait To Sell?

If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people.

And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too.

That means if you wait it out, you’ll have to deal with things like prices rising faster and more multiple-offer scenarios when you buy your next home.

2. Are Buyers Still Out There?

But that doesn’t mean no one is moving right now. While some people are holding off, there are still...



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Questions You May Have About Selling Your House There’s no denying mortgage rates are having a big impact on today’s housing market.

Your Agent Is the Key To Pricing Your House Right [INFOGRAPHIC]

The asking price for your house can impact your bottom line and how quickly it sells. Both under- and overpricing have drawbacks. So to find the right price for your house, lean on your agent for their expertise. Don’t pick just any price for your listing. Trust your real estate professional to help you find the perfect price for your house.



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Your Agent Is the Key To Pricing Your House Right [INFOGRAPHIC] The asking price for your house can impact your bottom line and how quickly it sells.

Should I Rent or Buy a Home? [INFOGRAPHIC]

While renting may be less expensive in some areas right now, there are two big benefits homeownership provides that renting can’t. Owning a home means you get to say goodbye to rising rents and hello to stability. It also gives you the chance to gain equity as home values rise over time. If you’re ready to learn more about the perks of owning a home, let’s chat.



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Should I Rent or Buy a Home? [INFOGRAPHIC] While renting may be less expensive in some areas right now, there are two big benefits homeownership provides that renting can’t. 

Worried About Home Maintenance Costs? Consider This

If one of the main reasons you’re hesitant to buy a home is because you’re worried about the upkeep, here’s some information you may find interesting on both new home construction and existing homes (a home that’s been lived in by a previous owner).

Newly Built Homes Need Less Upfront Maintenance

If you can afford it, you may find a newly built home could help ease your worries about maintenance costs. Think about it, if everything in the house is brand new, it won’t have the wear and tear you may see in an existing home – and that means it’s less likely to need repairs. Plus, many builders also have warranties on their homes that would cover some of the more major expenses that could pop up.

Existing Homes Can Still Have Great Perks

But it’s worth mentioning, that it’s not just newly built homes that can have warranties...



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Worried About Home Maintenance Costs? Consider This If one of the main reasons you’re hesitant to buy a home is because you’re worried about the upkeep, here’s some information you may find interesting on both new home construction and existing homes.

What’s Next for Home Prices and Mortgage Rates?

If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates.

1. What’s Next for Home Prices?

One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.

According to the most recent release, experts are projecting home prices will continue to rise at least through 2028.

While the percent of appreciation varies year-to-year, this survey says we’ll see prices rise (not fall) for at least the next 5 years, and at a much more normal pace.

2. When Will Mortgage Rates Come Down?

This is the million-dollar question in the industry. And there’s no easy way to answer it. That’s...



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What’s Next for Home Prices and Mortgage Rates? If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates.