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Why This Winter Is the Sweet Spot for Selling

Thinking about selling your house? Here are a few reasons why you may want
to do it this season. Buyers looking right now are serious about moving and
the number of homes for sale is typically lower this time of year – helping
your house stand out. While inventory is higher this year than it’s been in
the last few winters, you’ll still be in this year’s sweet spot.

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The Latest Trends in Housing [INFOGRAPHIC]

The Current Trends in Housing [INFOGRAPHIC] Some Highlights With the variety of new listings increasing and typical days on market going down, purchasers might have more alternatives, however will still want to move quick. For sellers, stock is still low and homes are selling quickly, indicating your house should stand apart and might get several…

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Funding Your College Degree Through Real Estate Flipping: Ti…

Funding Your College Degree Through Real Estate Flipping: Tips for Adult Students Image via Freepik Numerous adult students face the obstacle of finding ways to finance their college education while stabilizing other responsibilities. One possible service is property flipping, a technique that can generate earnings while providing valuable financial management experience. By approaching property financial…

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Accomplish Your Dream of Homeownership with Townhomes and co…

Accomplish Your Dream of Homeownership with Townhomes and condos [INFOGRAPHIC] Looking at townhomes and condominiums can make it easier to purchase a home and discover.

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5 Reasons You’ll Fall In Love Buying A Home in the Fall

It’s no secret that the spring and summer are the peak seasons for buying
and selling real estate. If you’re relatively new to the housing market,
you might be tempted just to get cozy this fall and wait for the market to
peak again in spring. But why not break the mold and find your dream home
this season? Here are five reasons why fall can be a great time for your
house-hunting.

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As a home’s days on the market creep higher, it gets “stagn …

As a home’s days on the marketplace creep higher, it gets “stagnant” and possible buyers start to be curious. In a seller’s market where there are more buyers than the variety of homes noted for sale, the days on market are less due to the reality that of the high requirement. In an area that…

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How Do I Know How Much House I Can Afford?

Buying a home is exciting, especially if this is your first time. However, knowing how much house you can realistically afford before dreaming of a new place is crucial. You might only consider the price tag, but a home purchase involves more than that. Understanding the various costs helps you make the right decision and ensures your property becomes a wise investment. Understanding Home AffordabilityUnderstanding home affordability is your first step in the quest to find a home. This involves more than asking yourself if you can pay the mortgage — you must also look at your financials. This way, you can enjoy your new home without stretching your budget too thin.What Does Home Affordability Mean?Home affordability is about balancing your dream home’s cost with your financial health. It ensures your monthly house payments are manageable based on income and debts. This helps you maintain a comfortable lifestyle while enjoying your new place.Income vs. DebtThe relationship between your income and debt is key in determining what you can afford. Lenders evaluate this through your debt-to-income (DTI) ratio, a percentage of your gross monthly income used to pay off debts. A healthy number signifies to lenders that you can manage a mortgage comfortably on top of your obligations.The 28/36 Rule and New RecommendationsThe 28/36 rule is a traditional rule of thumb for assessing affordability. This guideline suggests that up to 28% of your gross monthly income should be dedicated to housing expenses and no more than 36% to total debt service.However, a recent report from ATTOM highlights a more conservative approach, especially for average wage earners looking at median-priced single-family homes. Because house prices are rising, ATTOM recommends a maximum DTI of 28%, assuming a 20% down payment. Prices and wages can differ greatly from one area to another in Florida, so adhering to this guideline ensures homeownership does not cause financial strain.Key Factors Influencing Home AffordabilitySeveral key factors influence how much house you can afford:Home price: The starting point in your home affordability calculation is the price of the residence. While the median listing price for a house in the U.S. is around $300,000, remember that the market can vary greatly in different areas.Interest rates: Your mortgage interest rate will impact your monthly payments and the total amount you’ll pay over the life of the loan. Lower rates make homes more affordable by reducing the cost of borrowing.Realtor costs: Buying or selling a home usually involves Realtor fees, which are typically a percentage of the home’s sale price. These costs can affect the total amount you’ll spend in the homebuying process.Home inspection and closing: A home inspection is essential before finalizing your purchase to identify any issues with the property. Closing costs also add to your total expenditure, including loan origination fees, title insurance and more. It’s particularly important in Florida to consider the costs of hurricane damage and flooding inspections.Property taxes and home insurance: Property taxes vary by location and can affect monthly housing costs. Home insurance is also a must and can add to monthly expenses.Wages and credit score: Your income and credit score are critical in determining how much you can borrow and at what interest rate. Higher wages and a better credit score can lead to more favorable loan terms, making your house more affordable.How to Calculate How Much House You Can AffordMake it easy to calculate how much house you can afford by following a few simple steps:1. Do a Quick CalculationYou can quickly calculate how much house you can afford using the 28/36 rule. To get a rough estimate, calculate your monthly income by adding up your annual income before taxes and dividing by 12. Then, apply the 28% rule by multiplying your monthly income by 0.28.This figure gives you an expectation of the monthly mortgage payment you can afford. For example, say you make $5,000 per month. Multiply $5,000 by 0.28 and you get $1,400. With this monthly budget for your mortgage, you can consider the total loan amount to which this monthly payment may correspond.2. Check Your Credit ScoreAfter you’ve estimated what you can afford, the next step is to check if your credit score is good enough to qualify for a mortgage loan. A higher number indicates to lenders that you’re a lower-risk borrower, which can lead to more favorable loan conditions. The magic number is 740 or above for receiving the lowest interest rates. While securing a mortgage with a lower score is possible, you may face higher interest rates, resulting in more expensive monthly payments.Check your credit score by getting a free report each year from major credit reporting agencies like Experian, Equifax and TransUnion. You can review these reports at Annual Credit Report.com for a comprehensive look at your history and score.3. Gather Your Financial InformationIt’s important to have all your financial information at hand before approaching mortgage lenders. This includes your monthly household income, details of existing debts, and an overview of your savings and investments. Having a clear understanding of your finances streamlines the mortgage application process while accurately determining how much you can afford to pay.4. Determine Your Debt-to-Income RatioAfter gathering your financial details, determine your DTI. Lenders use this metric to evaluate your ability to manage monthly payments and repay debts. Maintaining a DTI ratio within acceptable limits is essential for securing a mortgage that aligns with your financial goals and capabilities.5. Calculate Your Home AffordabilityOnce you have a clear picture of your financial situation, you can calculate how much house you can afford. This step involves synthesizing the information you’ve gathered so far. The goal is to pinpoint your price range while keeping your finances in check.To calculate your home affordability, consider factors such as a 3%-20% down payment, interest rate, loan term, taxes and insurance. Using online mortgage calculators can simplify this process. Inputting your financial details can give you a detailed estimate of how much house you can afford. Tools like these consider current interest rates, your down payment and other critical variables to provide a picture of total affordability.Setting the Stage for Homeownership SuccessAs you look forward to finding your dream house, remember that preparation is key. Carefully assessing your finances and understanding the full scope of home affordability will set you up for a stress-free homebuying experience. With the right tools and knowledge, you’ll be ready to make informed decisions that align with your financial well-being and homeownership goals.

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How To Choose a Great Local Real Estate Agent

How To Choose a Great Local Real Estate Agent

Selecting the right real estate agent can make a world of difference when buying or selling a home. But how do you find the best one? Here are some tips to help you make that big decision as you determine your partner in the process.Check Their ReputationStart by gathering information about agents in your area. From there, try to narrow down the list. Ask the people you trust if they have someone they’d recommend. You’ll want to find an agent with a strong online presence, plenty of positive reviews, and someone whose great reputation truly precedes them. As Freddie Mac explains:“. . . you may want to look for a real estate agent who specializes in the type of home you’re searching for. For example, if you are looking for an energy-efficient home, look for an agent who has experience with finding and negotiating offers for those homes. If you are looking for new construction, you’ll want to find an agent who has experience with new construction and isn’t affiliated with the builder . . .”Look for Local Market ExpertiseA great agent should have in-depth knowledge of what’s happening at the national and local level. That way they can clear up any misconceptions sparked by what you’re reading or hearing in the news. And they can tell you how your area compares to the national data. As an added perk, they’ll also be familiar with the neighborhoods you’re interested in and community amenities. As a recent article from Business Insider says:“Spend some time talking with prospective agents about the local real estate market and how it could impact your purchase or sale. You want to get an understanding of how knowledgeable they are about local market conditions. Whether they’re helping you sell or buy, their strategy for you should account for those conditions.”Get a Feel for Their Communication Style and AvailabilityEffective communication is key in real estate transactions. Choose an agent who listens to your needs, answers your questions quickly, and keeps you informed throughout the process. If an agent is juggling too many clients, they might not be able to give you the attention you deserve. You want someone who will be readily available and responsive. So, what’s the best way to get a feel for their communication style and preferences? Bankrate offers this advice:“Interviews also give you a chance to find out the agent’s preferred method of communication and their availability. For example, if you’re most comfortable texting and expect to visit homes after work hours during the week, you’ll want an agent who’s happy to do the same.”Trust Your GutLast, rely on your instincts. If you feel like you do or don’t click with one of the agents you’re talking to, that matters. Choose an agent you feel at ease with and who inspires confidence. The right agent should be someone you trust to guide you through one of the most significant transactions of your life. As Business Insider says:“As long as you’ve properly vetted the agents you’re considering and ensured they have the necessary expertise, it’s ok to go with your gut . . . Maybe you have a better rapport with one of the agents you’re considering, or you just feel like they’re easier to approach. You’re going to be working closely with this person, so it’s important to choose an agent you’re comfortable with.”Bottom LineBy following these tips, you can pick an agent who’ll provide the support and expertise you need to help make the process as smooth as possible. It’d be an honor to apply for that job. Let’s connect so we can have a conversation and see if we’d be a good fit for working together. 

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Common Mistakes First-Time Home Buyers Make

Are you nervous about buying your first home? Learn the most common
mistakes first-time home buyers make to avoid them and get your dream
house.

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Expert Home Price Forecasts for 2024 Revised Up There ar …

Professional Home Price Forecasts for 2024 Revised Up There are 2 big components keeping such strong upward pressure on home expenses. Real estate professionals routinely customize their home expenditure projections as the real estate market shifts. If they trend down as the year goes on, as they’re expected to do, that might result in more…

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Quick Property Search

Buyers, Here’s Your Guide to Make Your Homeownership Dream Alive in 2025 [PART 1]

By | December 20, 2024 | 0 Comments

Planning to buy a home in 2025? With only a few days left ‘til the new
year, it may seem like an extremely distant and daunting goal. But the good
news is that you still have the whole year ahead of you, which means you
can take it step by step. Getting started today is already a huge feat, so
here’s a comprehensive guide that you can use to navigate through this
journey toward your homeownership dreams.

The Truth About Down Payments

By | December 20, 2024 | 0 Comments

There’s a misconception going around that you have to put 20% of the
purchase price down when you buy a home. But the truth is, many people
don’t put down that much unless they’re trying to make their offer more
competitive. And if you want to give your savings a boost, look into down
payment assistance. There are thousands of programs that offer an average
benefit of nearly $17,000. To learn more about loan options or down payment
assistance programs, connect with a trusted lender and check out
downpaymentresource.com.

Why You Can’t Afford To Ignore Housing Market Research

By | December 20, 2024 | 0 Comments

Ignoring housing market research could lead your investment strategy down
the drain. Learn about why you simply cannot ignore housing market
research.

Why You Shouldn’t Waive a Home Inspection

By | December 20, 2024 | 0 Comments

In a competitive market, many buyers are tempted to skip an inspection.
Here’s why you shouldn’t waive a home inspection during the buying process.

Upgrades To Make Your Pool Area Feel More Luxurious

By | December 20, 2024 | 0 Comments

Explore upgrades like pool lighting, water features, and wooden diving
boards to create a luxury pool area for relaxation and increased property
value.

Buyer Beware: Things To Watch Out for During Showings

By | December 20, 2024 | 0 Comments

Your next home showing could be the purchase of your dreams, but are you
equipped with the best buyer’s beware tips and tricks? Learn a few things
here.

What to Look for in a Property Sale Agent

By | December 18, 2024 | 0 Comments

Discover what to look for in a property sale agent to ensure a smooth home
selling process. Learn key qualities, experience, and strategies that a
skilled agent should bring to the table. Expert advice from Scott Lehr PA,
at RESF and The Listing Team.

How to Choose the Right Property Listing Site for Your Home

By | December 18, 2024 | 0 Comments

Learn how to choose the right property listing site for selling your home.
Understand the factors that impact visibility, pricing, and buyer reach to
ensure a successful sale. Get expert insights from Scott Lehr PA, at RESF
and The Listing Team.

Understanding Property Listings in South Florida

By | December 18, 2024 | 0 Comments

Learn how to navigate property listings in South Florida. Understand key
features, pricing strategies, and market trends to make informed decisions
when buying or selling a home in the area. Get expert insights from Scott
Lehr PA, at RESF and The Listing Team.

What to Look for in a Property Sale Agent

By | December 18, 2024 | 0 Comments

What to Look for in a Property Sale Agent | The Listing Team

What to Look for in a Property Sale Agent

Choosing the right property sale agent can make a significant difference in your selling experience. A skilled agent brings knowledge, resources, and negotiation skills that help you achieve the best possible outcome. Here’s a guide on what to look for in a property sale agent when listing your home in South Florida.1. In-Depth Local Market KnowledgeYour agent should have extensive knowledge of the South Florida market, an understanding of the factors that influence property values in different neighborhoods. This expertise helps set the right price and attract serious buyers.2. Proven Track RecordExperience matters in real estate. Look for an agent with a proven track record of successful sales in your area. Positive testimonials and reviews from past clients can provide insight into their performance and reliability.3. Strong Marketing StrategiesAn effective agent will have a comprehensive marketing plan to showcase your property. From professional photos to virtual tours and social media promotion, a strong marketing strategy ensures your listing gains maximum exposure.4. Excellent Communication SkillsClear, consistent communication is essential in a property sale agent. They should keep you informed at every step, providing updates and responding to questions promptly. This open communication will make you feel confident and informed throughout the process.5. Effective Negotiation SkillsAn agent’s negotiation skills are critical to achieving the best sale price. Look for someone who can effectively represent your interests, handling offers and counteroffers with professionalism and skill.6. Integrity and TransparencyHonesty and integrity should be non-negotiable. A good agent will provide realistic expectations, disclose any potential challenges, and always act in your best interest. Working with a transparent agent helps build trust and ensures a smooth process.7. Strong Professional NetworkAn experienced agent typically has a network of industry contacts, from inspectors and contractors to staging companies. Their connections can be invaluable when preparing your home for sale or addressing any issues that arise.ConclusionChoosing the right property sale agent requires evaluating their market knowledge, track record, communication skills, and integrity. By finding an agent with these qualities, you’ll be well-positioned for a smooth, successful sale in the South Florida market.