Wednesday, May 10, 2023 / by Brooke Cole
This is our re-write based on an article by Amber Bonefont.
While the national housing market has slowed down, South Florida continues to witness positive gains in home values, albeit at a slower pace. According to a report by ATTOM Data, a provider of nationwide property data, approximately 65.3% of residential properties with mortgages in South Florida were classified as "equity rich" in the first quarter of this year.
To determine the number of properties building equity, researchers analyzed mortgaged residential properties in the area with varying loan-to-value ratios. To be considered "equity rich," the combined estimated loan amount could not exceed 50% of the estimated market value, indicating that homeowners possessed at least 50% equity.
The data reveals a steady increase from the previous two quarters in the tri-county area: in the fourth quarter of 2022, around 64.5% of homes were classified as equity rich, while in the third quarter of 2022, approximately 63% of homes f. ...
Monday, April 24, 2023 / by Abby Kurtz-Lendner
The real estate industry is a dynamic and constantly evolving sector that offers a wealth of opportunities for those interested in pursuing a career in this field. Working in real estate can be both rewarding and financially lucrative, and there are several reasons why it is a smart career choice.
At RE/MAX Nautical Realty, we support our agents! We offer a workspace to meet with clients, access to office supplies, business cards, marketing materials, and our expertise!
First and foremost, the real estate industry is a critical part of the economy. People will always need a place to live, and businesses will always need space to operate. As a result, there will always be a demand for real estate professionals who can assist with buying, selling, leasing, and managing properties.
Another advantage of working in real estate is the potential for high earnings. Real estate agents and brokers earn commissions on the transactions they facilitate, which can be a substantial amount of money! ...
Monday, April 17, 2023 / by Abby Kurtz-Lendner
If you're looking to purchase a home, one option that may be available to you is an FHA Loan. While we are not a lender, we do work with several amazing, local lenders that can help advise you on the best route for you, to determine your buying power, and break down the numbers!
FHA Loans are backed by the Federal Housing Administration and can be a great choice for first-time homebuyers or those with limited financial recourses. In this blog, we'll take a closer look at FHA loans and what you need to know before applying.
What is an FHA Loan?
An FHA loan is a mortgage that is insured by the Federal Housing Administration. The FHA is a government agency that was created in 1934 to increase homeownership in the United States. FHA loans are designed to help people with lower credit scores or limited financial resources qualify for a mortgage.
One of the benefits of an FHA loan is that it requires a lower down payment than a conventional mortgage. While conventional mortgages typicall. ...
Tuesday, April 11, 2023 / by Abby Kurtz-Lendner
The real estate market is currently experiencing an unusual cycle. Typically, the market moves between a buyer's and seller's markets, but the situation now is different. Both the supply and demand have decreased. According to a Redfin study, new listings dropped by 21.8% year-over-year during the four weeks ending April 2, one of the most significant declines since the start of the pandemic.
One reason for the decrease in supply is that many homeowners have no desire to move as they have secured generational-low mortgage rates in recent years. While interest rates have fallen for four consecutive weeks, they are still twice as high as before 2021. Homebuyers who are not deterred by current mortgage rates quickly purchase new listings. Almost half of the homes that go under contract are sold within two weeks of listing. This is an increase from about 25% at the beginning of 2023.
Redfin Deputy Chief Economist Taylor Marr believes that elevated mortgage rates may discourage potential . ...
Friday, September 20, 2019 / by Lauren McGinnis
Right now builder confidence has hit a high for 2019. According to National Association of Home Builders, the Wells Fargo Housing Market Index which measures builders attitudes, has reached a record 68 points this month.
The index has been holding in the mid 60 range since May of this year. Readings that are above 50 points are considered positive and show that builders are confident in moving forward with new construction. Low interest rates and a solid demand are continuing to fuel builders sentiments even thought there have been some ongoing supply challenges that have hindered the affordability of the housing being built.
National Association of Home Builders (NAHB) Chief Economist Robert Dietz says, "Solid should formations and attractive mortgage rates are contributing to a positive builder outlook. However, builders are expressing growing concerns regarding uncertainty stemming from the trade dispute with China." NAHB's home building index does indicate that the s2 ...