The Latest on the Luxury Home Market

Written by West Palm Beach Mortgage Syndicated User on September 6, 2024. Posted in Buying Tips, For Buyers, Luxury / Vacation, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Luxury living is about more than just stunning views and cutting-edge smart home technology—it’s about elevating your lifestyle. And if you’re in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here’s why.The Number of Luxury Homes Is GrowingThe top of the market, or luxury homes, can mean different things depending on where you live. But in general, these are homes that are in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million dollars:“The...

How the Federal Reserve’s Next Move Could Impact the Housing Market

Written by West Palm Beach Mortgage Syndicated User on September 5, 2024. Posted in Agent Value, Mortgage Rates, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Now that it’s September, all eyes are on the Federal Reserve (the Fed). The overwhelming expectation is that they’ll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that inflation is cooling, and the job market is slowing down. Mark Zandi, Chief Economist at Moody’s Analytics, said:“They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.”But what does this mean for the housing market, and more importantly, for you as a potential homebuyer or seller?Why a Federal Funds Rate Cut MattersThe Federal...

Tips for Preventing Crime

Written by West Palm Beach Mortgage Syndicated User on September 5, 2024. Posted in West Palm Beach Condo Financing, West Palm Beach Mortgage.

Should You Sell Now? The Lifestyle Factors That Could Tip the Scale

Written by West Palm Beach Mortgage Syndicated User on September 4, 2024. Posted in For Sellers, Selling Tips, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Are you on the fence about whether to sell your house now or hold off? It’s a common dilemma, but here’s a key point to consider: your lifestyle might be the biggest factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to make the leap sooner rather than later.An annual report from the National Association of Realtors (NAR) offers insight into why homeowners like you chose to sell. All of the top reasons are related to life changes. As the graph below highlights:As the visual shows, the biggest motivators were the desire...

Could a 55+ Community Be Right for You?

Written by West Palm Beach Mortgage Syndicated User on September 3, 2024. Posted in Buying Tips, For Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you. Here’s some information that could help you make your decision.What Is a 55+ Community?It’s important to note that these communities aren’t just for people who need extra support – they can be pretty vibrant, too. Many people who are downsizing opt for this type of home because they’re looking to be surrounded by people in a similar season of life. U.S. News explains:“The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities’ and ‘planned communities’...

How To Avoid Today’s Top Seller Mistakes

Written by West Palm Beach Mortgage Syndicated User on August 31, 2024. Posted in For Sellers, Infographics, Selling Tips, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Some HighlightsWant to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too?The biggest missteps are pricing a house too high, skipping repairs, not being objective, and not being willing to negotiate.And the best way to avoid falling into any of these traps is to partner with a real estate agent and lean on them for advice.

Are We Heading into a Balanced Market?

Written by West Palm Beach Mortgage Syndicated User on August 30, 2024. Posted in For Buyers, For Sellers, Inventory, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know.What Is a Balanced Market?A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced...

2025 Housing Market Forecasts: What To Expect

Written by West Palm Beach Mortgage Syndicated User on August 29, 2024. Posted in For Buyers, For Sellers, Forecasts, Home Prices, Mortgage Rates, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Looking ahead to 2025, it’s important to know what experts are projecting for the housing market. And whether you’re thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans.Here’s an early look at the most recent projections on mortgage rates, home sales, and prices for 2025.Mortgage Rates Are Projected To Come Down SlightlyMortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association (MBA), the...

What’s the Impact of Presidential Elections on the Housing Market?

Written by West Palm Beach Mortgage Syndicated User on August 28, 2024. Posted in Economy, For Buyers, For Sellers, Home Prices, Inventory, Mortgage Rates, West Palm Beach Condo Financing, West Palm Beach Mortgage.

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move.Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering,...

What Mortgage Rate Are You Waiting For?

Written by West Palm Beach Mortgage Syndicated User on August 27, 2024. Posted in Affordability, Mortgage Rates, West Palm Beach Condo Financing, West Palm Beach Mortgage.

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below):And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect.Expert Projections for Mortgage RatesExperts say the overall downward trend should continue as long as inflation...

Category: West Palm Beach Condo Financing