Wendy Reinhardt Realty

Concerned about an aging parent? Or perhaps your kids need a little help getting on their feet? This property could be the perfect solution for your family. Whether you're looking for a home or an INVESTMENT, this Venice Florida opportunity might be just what you're looking for.

Mortgage rates inched up, with the average rate for the 30-year fixed going from 6.47% to 6.49%. As the election approaches, many housing market analysts believe that neither candidate will significantly impact the sector. One candidate proposes offering first-time home buyers $25K toward their down payment. Good idea? I don’t know. As a realtor I’d like to be able to assist more 1st time buyers. BUT, having lived through the last big government intervention in the housing market (remembering 2008) I’m raising my red flag of concern. https://WendySellsFlorida.com

Freddies 30 yr fixed now stands at 6.4%, the lowest in over a year,
With "economists" proposing a variety of scenarios without consensus, I thought I’d tackle a question that is likely on the minds of many of my readers. What happens…. if you lock in a mortgage rate, and rates go down? You’re still committed to your initial rate unless your loan has something called a float-down provision.
Ask your lender if the rate lock includes this and what it costs.
Alternatively, you can cancel your application and find a lender offering the lower rate, which might be worth it if the savings are significant. https://WendySellsFlorida.com

Concerned about an aging parent? Or perhaps your kids need a little help getting on their feet? This property could be the perfect solution for your family. Whether you're looking for a home or an investment, this Venice Florida opportunity might be just what you're looking for.

Real Estate Market Trends for Sarasota & Charlotte County Florida. July 2024. Median homes prices pulled back in both counties. Charlotte County holds the best opportunities for price conscious buyers where single family homes are about $85K less than in Sarasota County. The market is offering some great opportunities for buyers. Sellers take note, there were over 1000 single family homes sold in the past 30 days. Price it right and it will sell.
https://wendySellsFlorida.com

Mortgage rates declined to 6.73%, their lowest level since early February, marking the 3rd decline in the past 4 weeks. The Fed has been signaling a September rate cut, the first cut since 2020. But on Friday stocks tumbled in response to a weak jobs report. We’ll have to wait and see how that impacts the Feds next move.
The housing market continues to improve for buyers offering some great deals. Sellers take note, there were 332 closed sales last week. Price it right and it will sell. https://WendySellsFlorida.com

Freddie Mac’s rate for the 30-year mortgage steadied this week,
rising just 1 basis point to 6.78%. Economic data has been trending in line with Fed expectations and that, along with something resembling an election scheduled for this fall, has consensus very high that the Fed will likely give us a rate cut in September.
Check out these pool homes near the beach starting in the mid $200's: https://tinyurl.com/55rub74f

The 30-year fixed-rate mortgage fell to its lowest level since mid-March, dropping to 6.78%. Rising inventory continues to keep a check on price growth. That along with falling mortgage rates should make for an active fall buying season here in Florida.
Meanwhile those lazy hazy days of summer offer opportunities for buyers to shop and negotiate with little competition.
Speaking of inventory check out these prices on pool homes starting under $300K https://tinyurl.com/23ysbptw

The 30yr fixed pulled back to 6.89% from last weeks 6.95.
To keep your “rate watching” in perspective consider that the rate was 6.96% one year ago. I Expect rising inventory to keep a check on price growth, and that along with falling mortgage rates should encourage buyers to restart their home search. In light of that other looming fall event I’m expecting at least some level of rate cuts. Checkout the latest inventory at https://WendySellsFlorida.com

Housing prices continue on a remarkable 148 consecutive months of growth. Charlotte County continues to hold the most opportunities for price conscious buyers with single family homes priced about $90K less than Sarasota County. https://WendySellsFlorida.com

The 30 yr fixed has edged up to 6.95% again. Meanwhile the professional rate watchers posted a consensus estimate of a 6.73% avg for Q3 and a very optimistic 6.57 by year end. I'm see a couple of areas here in SWFL where too much inventory is pushing prices down creating a huge opportunity for buyers.
See North Port: https://tinyurl.com/y8646tdx

The 30-year fixed-rate mortgage continues to trend down,
hitting 6.86%, the lowest level in almost three months. We now have a four week average of 6.92, firming up the consensus that mid to high six’s will be the norm for the rest of 2024.
These numbers exhibit the real conditions for buyers and sellers in the Sarasota - Charlotte County markets past 7 days:
New listings 337 ~ Listings sold 326 ~ Price reductions 710 . Find your opportunity at https://WendySellsFlorida.com

Freddie Mac reports the average 30-year fixed mortgage rate has pulled back to 6.87%. That’s down from last week’s average of 6.95%. Considering the rate 1 year ago at this time was 6.67%, its feeling like we’re in a new normal of mid to hi 6’s.
Lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market. See this weeks latest listings: https://WendySellsFlorida.com

Freddie Mac has The 30-year fixed-rate mortgage in at 6.95% That's down from 6.99% the week before. And, the fed hinted at possibly one rate cut before the end of the year. That’s little relief for buyers trying to sit out the rate storm BUT, on the plus side - inventory is going through the roof and that’s putting downward pressure on home prices. Get a look at the recent price improvements: https://WendySellsFlorida.com

The 30-year fixed rate averaged 6.99% this week, a slight decline from the week prior. Meanwhile inventory is way up, reaching levels not seen since the pandemic. Add to that 800+ price reductions last week. Buyers hold some serious negotiating power. Find your Florida real estate opportunity here: https://WendySellsFlorida.com

The numbers for May 2024 are in. Charlotte county continues its deep dive into buyers' market territory. Sellers note, homes that are realistically priced ARE selling. May real estate sales in Sarasota county indicate neither buyers or sellers are advantaged. That balance affords great opportunities to work out a deal. Buyers & Sellers visit https://WendySellsFlorida.com Give me a call to workout your strategy for the summer buying season.

Following several weeks of decline, mortgage rates changed course this week and crossed over 7% for the first time since mid April.
Meanwhile increasing inventory along with a significant number of price reductions suggests that home sellers have adjusted their expectations and are ready to negotiate with buyers. Find your Florida real estate opportunity here: https://WendySellsFlorida.com

Calling it an “unexpected windfall” of both lower rates and increased inventory of new and existing homes, Freddie Mac’s data showed the 30-year fixed-rate mortgage (FRM) averaging 6.94% this week, down from 7.02% last week and marking its third-straight week of declines. Get a closer look at Sarasota & Charlotte County real estate opportunities: https://WendySellsFlorida.com

"Higher for Longer" That's the buzz from the Fed and their watchers. Rates have pulled back for the second week in a row. Freddie Mac's 30 year fixed is at 7.02%. Inflation remains elevated effectively taking any short term rate relief off the table. Meanwhile inventory on Florida's Suncoast is on the rise creating lots of opportunities for buyers. http://WendySellsFlorida.com

This is the BEST PRICED Gulf Access / No Bridges in the area.
Just $424,900. Enjoy the virtual tour: https://tinyurl.com/eshdtb68

After a five week climb interest rates have pulled back a bit. BUT, Inflation ticked up from last month to 3.48%. The clever folks in congress never run short of income redistribution schemes to mask the impending national debt crisis. Our debt, yes it IS our debt, is now over $34 trillion. Comes out to about $100K per citizen. "Don't tell the kids what we're doing to them!" Consider FL real estate as your hedge against inflation: https://WendySellsFlorida.com

The Fed maintained its stance on interest rates this week, marking the fifth consecutive week of increases. Government spending continues to be the unacknowledged inflation elephant in the room. Friday's labor report numbers, while still trending upward, were lower than expected. Government jobs, which do not lead to long term productivity gains, represented more than half of the gains. The U.S. needs an investment-based boom in the private economy to finance all of these government-financed jobs. Visit https://WendySellsFlorida.com for a look at Gulf coast real estate opportunities.

As the central bank gears up for its meeting this week, the discussion surrounding the potential timing of interest rate cuts by the Fed is underway. A crucial debate is emerging regarding what will be the long-term equilibrium for interest rates? One may wonder why that debate is just now unfolding? And we were thinking all along that they had a plan. Oops, fooled again!
Start your personal plan here: https://WendySellsFlorida.com

It's been barely a month since The Fed hinted at 3+ interest rate reductions by year end ... and then suddenly, mysteriously we're over 7% again. Oops!!! Someone needs to go back to school and acquire a deeper understanding of the origins of inflation.
Hint, GOVERNMENT SPENDING !!! Will this put a damper on spring sales? Visit https://WendySellsFlorida.com

As the fed reevaluates it’s monetary policy path,
mortgage rate cuts are no longer “when” … BUT they’re now a big “If”. The latest 30 yr fixed is at 6.88%. We’ve not been there since mid November. Looks like it’s time for Florida buyers and sellers to do some soul searching. Your “waiting for a better time” strategy is not playing out. Visit https://WendySellsFlorida.com see what's selling and what's not.!

"Season" is behind us. As we roll into Q2 our real estate market is slowing down a little. Inventory continues to rise and homes are taking a bit longer to sell. Interest rates have settled into the mid to high 6% range and hopes of further rate cuts this year seem to be fading. Also fading is our hot sellers market. Charlotte County is in a solid buyers market and Sarasota has crossed over the mid toward buyers. http://WendySellsFlorida.com

Last weeks job numbers have The Fed scratching their collective heads. Freddie Mac says " no meaningful rate reductions in the near future". Guidance from Washington continues to be uncertain. From my seat here in Florida "Buy now vs Buy later" is clearly the best strategy. Rising inventory numbers are placing buyers in the drivers seat. https://WendySellsFlorida.com