Renters that may be considering a home purchase now have another tool at their disposal. In a recent update, Fannie Mae now includes rental histories in its automated mortgage underwriting process. The system, called the Desktop Underwriter, is used by lenders to evaluate the creditworthiness of mortgage applicants. Ultimately, this means that approximately 17% of… Continue reading Buying a house? Rent history matters
The time has come and you are considering purchasing your first home. If you are like most Americans, this will be the biggest purchase of your life. Therefore, this is a big decision and thus requires a lot of thought and preparation. Although this may seem like an intimidating endeavor at first, it is an… Continue reading Tips for first-time homebuyers
Everyone is quite familiar with the spring home buying season and the summer frenzy that follows it. This year has certainly been no different as we have seen record setting home buying activity. With this said, do the fall months equal falling home prices? Although the demand for housing is still strong across Florida, the… Continue reading Do falling temperatures = falling home prices?
Since the beginning of the pandemic, the real estate market has been nothing short of a frenzy. In particular, the single-family home market has led the charge as more Americans have sought additional space and privacy. Initially, this resulted in more Americans fleeing big cities and particularly multi-family units, such as condos and townhouses. As… Continue reading Florida condo & townhouse prices are rising
As we are entering the fall months, we are beginning to see a seasonal slow down in home buying. Of course, this comes after a year-long super competitive housing market. Interestingly, the month of August set a new record for annual price gains. In fact, the annual price gains seen in the month of August… Continue reading Record level home price growth in August
Condo living is quite popular in South Florida, particularly along the eastern coastline. The decision to move into a condo is multifaceted. Below we list some of the pros and cons of condo living, as compared to single-family home living. Pros of condo living Home ownership without the maintenance: A major benefit of condo living… Continue reading Pros and cons of condo living
The moment has arrived! After what was likely a competitive home search, you have gotten through the inspection period, negotiations, property appraisal, and the loan commitment. Now you are set for closing day and the only item remaining is the final walk through of the property prior to going to the closing table. A final… Continue reading Tips for the final walk through on a home purchase
Should you buy a home now or wait? This is a common question being asked my many Americans right now. Whether you are renting a home or are currently a homeowner that is looking for a home that will better fit your needs, you may be weighing the risks and benefits of purchasing a home… Continue reading Should you buy a home now or wait?
If you were in the market to purchase a home during the summer months of 2021 then you probably have firsthand experience with bidding wars. A continued tight inventory of homes for sale combined with increased buyer demand resulted in a record level of bidding wars for homes. Needless to say, this has turned off… Continue reading Less bidding wars for home purchases
The recent run up in housing demand over the past 18 months or so has come largely from domestic buyers. The reason for this has been due to the tight travel restrictions on foreign nationals. This is significant for markets such as South Florida that see a significant percentage of home purchasing activity coming from… Continue reading More foreign home buyers in the U.S.?