Conforming Loan Limits Increasing In 2024

With the recent rise in home prices, conforming loan limits will increase in 2024.

The Federal Housing Finance Agency (FHFA) has announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac will increase to $766,550 in 2024, an increase of $40,350 from 2023. This is the largest single-year increase in conforming loan limits since 2008. Given the recent run up in home prices… Continue reading Conforming Loan Limits Increasing In 2024

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Home Improvement Mistakes That Can Cost You

Homeowners should be aware of some common costly mistakes that come with home ownership.

Home ownership is a rewarding experience, but it also comes with its own set of challenges. One of the biggest challenges is keeping up with maintenance and repairs. If you’re not careful, you can make some costly mistakes that could end up costing you thousands of dollars. We discuss some of the most common home… Continue reading Home Improvement Mistakes That Can Cost You

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The Pros And Cons Of A Corner Lot

A corner lot can offer some advantages and disadvantages.

Corner lots are often seen as desirable properties, offering more space, privacy, and potential for unique landscaping. However, there are also some potential drawbacks to consider before buying a home on one of these lots. Below we discuss some of the pros and cons of having a home on a corner lot. Pros of a… Continue reading The Pros And Cons Of A Corner Lot

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Inflation And The Housing Market

High inflation can make it difficult to save for a home purchase.

Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. It is typically measured as a percentage change in a price index, such as the Consumer Price Index (CPI). Ask most Americans and they will likely tell you that inflation has significantly impacted… Continue reading Inflation And The Housing Market

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The Differences Between A Mansion And A McMansion

McMansion vs Mansion: The key differences

The terms “mansion” and “McMansion” are often used interchangeably, but there are some key differences between the two. In general, a mansion is a large, luxurious home that is typically built with high-quality materials and designed by an architect. A McMansion, on the other hand, is a large, mass-produced home that is often built with… Continue reading The Differences Between A Mansion And A McMansion

Home Affordability Hits A 10-Year Low

Various factors are contributing to the 10-year low in home affordability.

The American dream of owning a home is becoming increasingly elusive for many, as home affordability has plummeted to its lowest point in a decade. A confluence of factors, including soaring home prices, rising mortgage rates, persistent inflation, and stagnant wages, has created a challenging environment for aspiring homeowners. This is certainly evident in the… Continue reading Home Affordability Hits A 10-Year Low

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Home Prices Stabilizing But Inventory Remains Low

Buyers welcome price stabilization but inventory constraints persist.

Home prices in the United States have been on a tear for the past few years, but there are signs that the market is starting to cool off. A recent report from the National Association of Realtors® found that home prices remained the same from September and were stable year-over-year. However, the report also found… Continue reading Home Prices Stabilizing But Inventory Remains Low

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More Cash Buyers In The Real Estate Market

We are seeing a larger proportion of cash buyers in the real estate market.

The proportion of cash buyers in the real estate market has been on the rise in recent years. In September 2023, cash buyers accounted for 34.1% of all home sales in the United States, the highest share in nearly a decade. This is up from 29.5% a year earlier. According to a recent report, the… Continue reading More Cash Buyers In The Real Estate Market

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Florida Investor Buyer Demand Drops

Home investor demand had decreased as home prices and interest rates have risen.

Florida has long been one of the top states in the country for real estate investor demand. With this said, recent market dynamics has significantly impacted the investor buyer demand in The Sunshine State. Following a record-breaking year in 2022, investor purchases of homes in Florida fell by 49% year-over-year in the first quarter of… Continue reading Florida Investor Buyer Demand Drops

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Considerations For Buying Or Selling A Home With Solar Panels

Solar panels can be a great, energy-efficient addition to any home.

Solar panels are becoming increasingly popular, as they offer a number of benefits, including reduced energy costs, increased home value, and environmental benefits. In particular, locations such as here in South Florida offer plenty of sunshine to maximize the benefits of these panels. If you are considering buying or selling a home with solar panels,… Continue reading Considerations For Buying Or Selling A Home With Solar Panels