How Do Climate Risks Affect Your Next Home? When you’re conf…
How Do Climate Risks Affect Your Next Home? When you’re confident the home you’re looking at is well developed, the next action is finding out what it’s going to require to insure it. In areas where environment risks are having a bigger impact, the ideal home insurance coverage can make a substantial distinction. When thinking…
Patty, Hollywood, FL Scott and his group at the listing grou…
Patty, Hollywood, FL Scott and his group at the listing group were extraordinary. The individual attention that I got i might not have asked for any longer.
Builders Are Building Smaller Homes [INFOGRAPHIC], if you d.
Contractors Are Building Smaller Homes [INFOGRAPHIC] Let’s link and explore your options together if you choose to see what’s offered in your area and in other areas nearby.
The Perks of Downsizing When You Retire [INFOGRAPHIC]
If you’re about to retire, or just did, downsizing can be a good way to try
to cut down on some of your expenses.
* Smaller homes typically have lower energy and maintenance costs.
Plus, you may have enough equity built up to fuel your move.
* If you’re thinking about moving to a smaller home, let’s go over your
goals and look at your options in our local market.
When You Retire [the Perks of Downsizing INFOGRAPHIC]
When You Retire [the Perks of Downsizing INFOGRAPHIC] Some Highlights If you’re about to retire, or just did, scaling down can be an outstanding way to try to reduce some of your expenses. Smaller sized homes generally have lower energy and upkeep costs. Plus, you might have sufficient equity developed to sustain your relocation. If…
What Mortgage Rate Are You Waiting For?
What Mortgage Rate Are You Waiting For?
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 Rates
Experts say the overall downward trend should continue as long as inflation
and the economy keeps cooling. But as new reports come out on those key
indicators, there’s going to be some volatility here and there.
What you need to remember is it’s not wise to let those blips distract you
from the larger trend. Rates are still down roughly a full percentage point
from the recent peak compared to May.
And the general consensus is that rates in the low 6s are possible in the
months ahead, it just depends on what happens with the economy and what the
Federal Reserve decides to do moving forward.
Most experts are already starting to revise their 2024 mortgage rate
forecasts to be more optimistic that lower rates are ahead. For example,
Realtor.com says:
“Mortgage rates have been revised slightly lower as signals from the
economy suggest that it will be appropriate for the Fed to begin to cut
its Federal Funds rate in 2024. Our yearly mortgage rate average
forecast is down to 6.7%, and we revised our year-end forecast to 6.3%
from 6.5%.”
Know Your Number for Mortgage Rates
So, what does this mean for you and your plans to move? If you’ve been
holding out and waiting for rates to come down, know that it’s already
happening. You just have to decide, based on the expert projections and
your own budget, when you’ll be willing to jump back in. As Sam Khater,
Chief Economist at Freddie Mac, says:
“The decline in mortgage rates does increase prospective homebuyers’
purchasing power and should begin to pique their interest in making a
move.”
As a next step, ask yourself this: what number do I want to see rates hit
before I’m ready to move?
Maybe it’s 6.25%. Maybe it’s 6.0%. Or maybe it’s once they hit 5.99%. The
exact percentage where you feel comfortable kicking off your search again
is personal. Once you have that number in mind, you don’t need to follow
rates yourself and wait for it to become a reality.
Instead, connect with a local real estate professional. They’ll help you
stay up to date on what’s happening and have a conversation about when to
make your move. And once rates hit your target, they’ll be the first to let
you know.
Bottom Line
If you’ve put your moving plans on hold because of higher mortgage rates,
think about the number you want to see rates hit that would make you
re-enter the market.
Once you have that number in mind, let’s connect so you have someone on
your side to let you know when we get there.
Hoarding and Its Health Effects: What Happens to People and …
Hoarding is more than just a clutter problem; it is a major mental condition that can have profound impacts on a person’s health and living conditions. When hoarding spirals out of control, it not only impacts the specific however likewise triggers damage to communities and homes. In this article, we’ll explore how hoarding affects health,…
Cost Savings Strategies Every First-Time Homebuyer Needs To …
Cost Savings Strategies Every First-Time Homebuyer Needs To Know If you have to move cash by hand, you may forget to do it. Ask your company if you can have your income deposited into numerous accounts– if so, advise it to send out a certain portion of your income directly into your cost savings account….
Why a Condo May Be a Great Option for Your First Home
Having a hard time finding a first home that’s right for you and your
wallet? Well, here’s a tip – think about condominiums, or condos for short.
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