Theloanadvisor33

Facts!

Tenancy in Common (TIC) is a legal arrangement in which two or more parties share ownership rights in a real estate property or parcel of land. Each independent owner may control an equal or different percentage of the total property, whether commercial or residential.

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Company NMLS #: 2046881
MLO NMLS #: 1763583

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As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward?

What the Experts Are Saying About Home Prices Next Year

Five experts in the housing industry have most recently updated their projections based on current market trends.

Some experts are calling for ongoing home price appreciation, just at a more moderate rate than recent years. Others are calling for home price depreciation.

While there isn’t a clear consensus, if you take the average of all five of these forecasts, the most likely outcome is, nationally, home price appreciation will be fairly flat next year.

What Does This Mean?

Basically, experts are divided on what’s ahead for 2023. Home prices will likely depreciate slightly in some markets and will continue to gain ground in others. The good news is home prices are expected to return to more normal levels of appreciation rather quickly.

And the Home Price Expectation Survey (HPES) from Pulsenomics, a poll of over one hundred industry experts, also calls for ongoing appreciation of roughly 2.6 to 4% from 2024-2026. This goes to show, even if prices decline slightly next year, it’s not expected to be a lasting trend.

Don’t let fear or uncertainty change your plans. If you’re unsure about where prices are headed or how to make sense of what’s going on in today’s housing market, DM me for the guidance you need each step of the way.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

POC stands for "Paid Outside of Closing". This refers to fees related to the purchase of a property. An example of a fee is an appraisal fee.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key.

Fewer Homes for Sale than Pre-Pandemic

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market.

Why does this matter to you? When inventory is low, there is still demand for your house because there just aren’t enough homes available for sale.

Homes Are Still Selling Faster Than More Normal Years

And while homes aren’t selling as quickly as they did a few months ago, the average number of days on the market is still well below pre-pandemic norms – in large part because inventory is so low.

Most recently, due to the cooldown in the housing market, the average days on the market have started to tick back up slightly but are still far below the pre-pandemic norm.

What does this mean for you? While it may not be as fast as it was a couple of months ago, homes are still selling much faster than they did in more normal, pre-pandemic years.

Buyer Demand Has Moderated and Is Now in Line with More Typical Years

Buyer demand has softened this year in response to rising mortgage rates. But again, perspective is key. Prior to the pandemic, it was typical for homes sold to see roughly 2-2.5 offers.

But most recently, the number of offers on homes sold today has started to return to pre-pandemic levels as the market cools from the frenzy.

What’s the takeaway for you? Buyer demand has moderated from the pandemic peak, but it hasn’t disappeared.

If you have questions about selling your house in today’s housing market, DM me.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

Net operating income (NOI) is a calculation used to analyze the profitability of income-generating real estate investments. NOI equals all revenue from the property, minus all reasonably necessary operating expenses.

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Company NMLS #: 2046881
MLO NMLS #: 1763583

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In a market where buyers have more homes to choose from than they did at this time last year, you want yours to stand out. That’s why it’s critical to do everything you can to make sure it shines. It may sound simple, but tidying up before showings can boost your home’s appeal. For expert advice, DM me, and let’s partner on your home sale.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

For tax purposes, the Internal Revenue Service (IRS) distinguishes gross earnings and adjusted gross income (AGI). Gross income includes all of the money you earn through the year including wages, income from a business, alimony payments, rental income, interest, and a few other types of payments.

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Company NMLS #: 2046881
MLO NMLS #: 1763583

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If you’re planning to sell your house, here’s what you should know. The inventory of homes for sale has increased this year compared to last, but supply is still far below more normal years like 2019. That means your house should still be in demand if you work with an agent to price it right. If you’re ready to sell, DM me to get started.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

A FICO score is a credit score created by the Fair Isaac Corporation (FICO). Lenders use borrowers' FICO scores along with other details on borrowers' credit reports to assess credit risk and determine whether to extend credit.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

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Thinking of buying a home? There are incredible benefits waiting for you when you do, like growing your wealth through home equity, stabilizing your monthly housing payments, enhancing your connection with your community, and being able to make the space your own. If you’re ready to start your homeownership journey, DM me today.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

A document issued by the Department of Veterans Affairs as a prerequisite for a VA loan; it is based on an approved appraisal. It establishes the maximum value of the property for VA purposes and, as a result, the maximum size of the VA loan.

A 3-2-1 buydown mortgage is a type of loan that starts out with a low interest rate and rises over the next several years until it reaches its permanent rate.

Here is how 3-2-1 buydown mortgages work and how to decide if one is right for you.

KEY TAKEAWAYS:
With a 3-2-1 buydown mortgage, the borrower pays a lower interest rate over the first three years in return for an up-front payment to the lender.

The interest rate is reduced by 3% in the first year, 2% in the second year, and 1% in the third year. For example, a 5% mortgage would charge just 2% in year one.

After the buydown period ends, the lender will charge the full interest rate for the remainder of the mortgage.

Buydowns are often used by sellers, including home builders, as an incentive to help buyers afford a property.

How 3-2-1 Buydown Mortgages Work:
A buydown is a mortgage-financing technique that allows a homebuyer to obtain a lower interest rate for at least the first few years of the loan, or possibly its entire life, in return for an extra up-front payment. It is similar to the practice of buying discount points on a mortgage in return for a lower interest rate.

Either the homebuyer/borrower or the home seller may cover the costs of the buydown.

In general, 3-2-1 buydown loans are available only for primary and secondary homes, not for investment properties. The 3-2-1 buydown is also not available as part of an adjustable-rate mortgage (ARM) with an initial period of fewer than five years.

In a 3-2-1 buydown mortgage, the loan’s interest rate is lowered by 3% in the first year, 2% in the second year, and 1% in the third year. The permeriod ends. anent interest rate then kicks in for the remaining term of the loan.

In a 2-1 buydown, by contrast, the rate is lowered by 2% during the first year, 1% in the second year, and then goes to the permanent rate after the buydown p

Should you have any questions or simply want to learn more please e-mail [email protected] or call 786-610-9200 and we will get back to you at our earliest convenience.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

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A comparative market analysis (CMA) is an estimate of a home's price used to help sellers set listing prices and help buyers make competitive offers.

Should you have any questions or simply want to learn more please e-mail [email protected] or call 561-376-6255 and we will get back to you at our earliest convenience.



Company NMLS #: 2046881
MLO NMLS #: 1763583

Source: