Existing home sales fell again in September, as many buyers stayed on the sidelines even though mortgage rates eased slightly during the month. According to the National Association of Realtors (NAR), sales dropped 1% from August, reaching a seasonally adjusted annual rate of 3.84 million. This marks the lowest level since October 2010, falling short of economists’ predictions of 3.88 million. On a...
Mortgage demand has taken a significant dip as rates continue to rise, reaching the lowest point since July 2024. As of today, the average 30-year fixed mortgage rate has climbed to 6.84%. This marks a notable shift from the past few months when rates were down in the low 6% range, making homebuying more affordable for many. The sudden rise in rates, coupled with...
Attention Buyers!!! Are you feeling the pinch of rising interest rates in the housing market? There's a little-known option that could save both buyers and sellers a significant amount of money: assumable mortgages. What Are Assumable Mortgages? An assumable mortgage allows a homebuyer to take over the seller's existing mortgage, including its interest rate and terms. This means if the seller has a...
Are you ready to take the exciting step of purchasing your first home? The process can be both thrilling and overwhelming. To help you navigate this journey, we've compiled essential first-time homebuyers tips to make your experience smoother and more enjoyable. Understand Your Budget Before you start house hunting, it's crucial to know how much you can afford. Review your finances, consider your...
Welcome to 3854 Loon Lane, a stunning four-bedroom, two-bathroom residence nestled in the highly sought-after gated community of Wyndham Preserve. This corner-lot gem offers an open floor plan that perfectly balances comfort and elegance, making it an ideal space for both relaxation and entertaining. As you step inside, you're greeted by an abundance of natural light that fills the spacious living...
Hurricane season can be a stressful time for homeowners, but with the right preparation, you can protect your property and your loved ones. Taking the time to prepare for a hurricane well in advance can help you avoid panic when a storm is on the horizon. Follow these 10 steps to stay safe and secure: Create a Hurricane Kit Start by gathering essential supplies like water, non-perishable food,...
Florida is known for its attractive real estate market, but recently, scammers have been taking advantage of buyers by committing land fraud. These fraudsters pose as legitimate landowners, convincing unsuspecting buyers to purchase land that doesn’t even exist. The scheme often leads to fake transactions, where the buyer loses their hard-earned money without ever owning any actual property. Here’s...
Sales of previously owned homes saw a home sales drop of 2.5% in August compared to July, reaching a seasonally adjusted annualized rate of 3.86 million units, according to the National Association of Realtors (NAR). This marks the third consecutive month where sales stayed below the 4 million mark, reflecting a continuing decline. Additionally, sales were 4.2% lower than in August 2023. The numbers are...
Yesterday, the Federal Reserve made a significant move by cutting Interest Rates by 0.5%. If you’re in the market to buy a home, this is big news! But what does it mean for you? Lower Interest Rates by 0.5% can make mortgages more affordable. When the Fed lowers rates, banks often follow suit, reducing the cost of borrowing. This means your monthly mortgage payments could be lower, and you might be...
Great news for homebuyers! Mortgage rates have recently dropped from 7.25% to 6.11%, significantly impacting affordability. Let’s break down what it means for you when mortgage rates drop, especially if you’re considering buying a home. When mortgage rates drop, your monthly payments become lower, allowing you to afford a more expensive home or save on your existing budget. Let’s look at the...