When buying or selling real estate, there are many hurdles that must be overcome. With this said, any of these obstacles could likely result in contract cancellations. Of course, buying a home is a major life decision, and it’s important to be prepared for the possibility that things may not go according to plan. One… Continue reading Common Reasons For Home Contract Cancellations
The cost to finance a home just became more expensive again this week. Mortgage rates hit 7.49% this week, the highest level since 2001. Last week, a 30-year, fixed-rate mortgage averaged 7.31%. For perspective, a year ago, it was 6.66%.This is bad news for home buyers, who will now have to pay more for their… Continue reading Mortgage Rates Hit 7.49%
“How long does it take to buy a home?” This is a common question that we receive from clients and one of the most common questions home buyers have across the country. Needless to say, buying a home is a big decision, and it’s important to understand the timeline involved. The time it takes to… Continue reading How Long Does It Take To Buy A Home?
Foreign home buying has accounted for a significant amount of activity in certain markets throughout the country. In fact, one of the most popular markets for foreign home buying has been right here in South Florida. Miami, FL has historically been one of the top cities in the nation for foreign real estate investments. However,… Continue reading Foreign Home Buying In The U.S. At An All-Time Low
Luxury homes are often defined by their unique features and amenities, which go beyond the basics of a comfortable and functional home. Although the term “luxury” may be over-utilized in many cases, there are certain prerequisites that help define a true luxury home. When looking for a luxury home, there are a few essential features… Continue reading Essential Features Of A Luxury Home
Last week, the Federal Reserve opted to meet without raising the federal funds interest rate. This marks only the second time in 19 months that they did not raise the rate. With this said, they were particularly clear when stating that they intend to raise rates again later this year. As of now, the plan… Continue reading Are Higher Mortgage Interest Rates On The Horizon?
The end of the fiscal year for the U.S. government is on September 30th. At this point, lawmakers have not come to an agreement on a budget and Congress has not yet approved an extension. Therefore, it is possible that we could see a government shutdown as soon as October 1st. A government shutdown occurs… Continue reading The Impact Of A Government Shutdown On Real Estate
Buying a home is likely the largest financial transaction in most of our lives. With this said, it is important to do your due diligence on any property prior to moving forward with a purchase. Of course, technological advances such as virtual tours, and live video tours have made it much more convenient for home… Continue reading The Importance Of Visiting A Home Before Buying
Demand for vacation homes has hit a 7-year low, according to a new report from Redfin. Perhaps no other market was a bigger beneficiary of the booming vacation home market than right here in South Florida. As more employers allowed their employees to work remotely throughout the pandemic and in the period after, many Americans… Continue reading Demand For Vacation Homes Hits 7-Year Low
Whether you are a home buyer or seller, it is generally assumed that cash is king. Of course, in many circumstances, this is certainly true. In markets such as South Florida, it has become increasingly difficult to compete in the home buying market if you are not a cash buyer. With many Americans opting to… Continue reading The Pros And Cons Of A Cash Buyer