Category Archives: Fort Lauderdale Real Estate News and Information

Three Things That Are Good For Today’s Buyers

Despite the recent changes with mortgage rates rising there are some positive things occurring out in the market that is good news for today’s buyers. Let’s not forget that the market had been going strong for years but primarily in the favor of sellers. With the recent cooling there are now some benefits for buyers looking to purchase their next home. Here they are.  More Homes On The Market When the pandemic hit we experienced extremely low housing supply while buyer demand had increased even more. This caused the perfect storm of making buying even more difficult. Now that has changed. According to a statistic shared by Calculated Risk, inventory levels have increased by nearly 40% for the last week Read More »

What To Consider If You’ve Been Waiting To Sell a Home

In recent years buying and selling a home has been even more of an emotional undertaking with sellers astounded by selling for over asking and buyers either winning bids or disgruntled about being outbid. Recently we have seen inflation pressures and mortgage rate hikes which have some buyers left unsure if now is the right time to buy. The same goes for sellers nowadays who have been asking themselves if they missed the top of the market. Here are some perspectives on the subject. Current rates shouldn’t scare sellers The market may be slowing down a bit but homes are still selling relatively quickly and at asking price or more in some cases. Rising interest rates will in fact affect Read More »

The Top Home Features Buyers Want This Season

Inventory levels may still be on the low end, but buyers are still in search of some particular home features this season regardless. According to a recent release of information from Realtor.com, there have been some popular search terms that have been pretty common lately. The spring season along with some recent pandemic influence may be contributing to these trends that are as follows: Water features One of the most popular search terms this year continues to be a swimming pool, and not just in Florida. They have gained popularity since the pandemic carried right into this season. Aside from swimming pools we have seen hot tubs also becoming a highly searched feature. They can offer a great place to Read More »

Key Factors That Influence Home Affordability

Nowadays you can’t discuss residential real estate without commenting on the affordability challenges that buyers are up against today. There’s no question that homes are pricier today than they were over the last two years, but that doesn’t mean homes are now truly unaffordable. There are three measures used to establish home affordability which include home prices, mortgage rates, and wages and here is a closer look at each of them. Home Prices The most recent Home Price Insights report issued by CoreLogic indicates that home values have risen by 19.1% from last January of 2021 to January this year. That was one reason affordability had diminished over the past year. Home Loan Rates While the current global uncertainty makes Read More »

A Possible Chance For Home Buyers?

Existing home sales have recently seen a downward trend in February as home price increases and upward interest rates have occurred. Per a recent report from the National Association of Realtors (NAR), sales of existing homes decreased by 7.2% from the month prior and were 2.4% lower from the same time as last year.  “Housing affordability continues to be a major challenge, as buyers are getting a double whammy: rising mortgage rates and sustained price increases,” National Association of Realtors Chief Economist Lawrence Yun, said. “Some who had previously qualified at a 3 percent mortgage rate are no longer able to buy at the 4 percent rate.” Home Prices Data has shown that the median sales price on existing homes Read More »

Five Homebuying Myths

Taking the plunge from being a renter into homeownership involves some important steps but it may not be as out of reach as you think. Having ample cash on hand and a good credit score are essential but there are many myths to clear up about what you need for the process. Here are some items to set the record straight. Homeownership equals debt Some people think that taking on a mortgage means you will be incurring a lot of debt. While needing to pay your mortgage regularly may be true, homeownership also comes with some big advantages. As you pay your mortgage down every month you essentially will begin to build equity. This can almost function like a savings Read More »