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Where are Americans Moving?

by Michel Delos Santos

5 Best Florida Shores Homes for Sale

by Michel Delos Santos

* 5 Best Florida Shores Homes for Sale *

  1. 2713 Needle Palm, 3/2, $134,900.
  2.  1903 Umbrella Tree, 3/2, $129,900.
  3. 2828 Juniper Drive, 3/2, $139,900.
  4. 2424 Umbrella Tree, 3/2, $99,900.
  5. 2621 India Palm, 3/2, $124,900.

If you are thinking about buying or selling a home, give us a call at (386) 689-4684 or send us an email to explore your options and to find out when is the best time for you to make a move.

 

NAR's Existing Home Sales Report FEB 2015

by Michel Delos Santos

Home is Worth the Sacrifice

by Michel Delos Santos

Home is Worth the Sacrifice

 

 

There are many reasons people want a home with the most frequent responses being a place of their own, to raise their family, share with their friends and feel safe and secure.  These are all strong motivations fueling the American Dream of owning your own home.

 

The motivation is so dominant that buyers are willing to make sacrifices to have their dream come true.  According to the 2014 National Association of REALTORS® Home Buyers and Sellers Survey, 72% of first-time buyers cut spending on luxury or non-essential items.  They also cut spending on entertainment, clothes and even cancelled vacation plans.

The value of getting their own home is more important than the immediate gratification of things that are considered less important.  While qualifying guidelines were increased last year, there are still more buyers purchasing homes at near record-low mortgage rates.

Pent Up Seller Demand

by Michel Delos Santos

Months Inventory of Homes For Sale (December)

by Michel Delos Santos

Homeownership Rates

by Michel Delos Santos

Did it Make Sense to Wait to Buy Real Estate?

by Michel Delos Santos

 

Did It Make Sense to Wait?

 There are many people out there who debated purchasing

a home over the course of the last year, but ultimately did not.

Whatever their reasons were for delaying, let’s look at whether

the decision to wait to buy made sense.

What happened in 2014?

The 30 year fixed rate on January 2, 2014 was 4.53% as

reported by Freddie Mac. Looking at the chart below, your

monthly mortgage payment with principal and interest for

a $250,000 home would have been $1,271.17. Even though

interest rates have dropped below 4% and ended 2014 at

3.87%, home prices appreciated by 4.8 percent over the

same time according to the Home Price Expectation Survey.

So that same home appreciated by $12,000 and now costs

$262,000. The most recent report by Freddie Mac reports

the average 30-year fixed rate is currently 3.73%.  Many

may say, “See waiting a year made total sense, I’m saving

$60 a month.” And they’d be right, over the course of the

year they saved $729.36. But what they haven’t realized,

is that as the price of the home they purchased went up

by $12,000, even if they just put a down payment of 5%,

they had to come up with anadditional $600 at the start

of the process. So really they’ve only saved $129.36 in

a year. Is a savings of $11 a month really worth holding

off on pursuing a home to call your own after you weigh

all the benefits that come along with that?

  • Building equity you can borrow against in the future
  • Having a safe, comfortable environment that fits your family’s needs
  • Having control over your space
  • Tax benefits
  • And so many more…

Bottom Line

The experts are predicting that homes will appreciate by

another 4% and interest rates will increase by a full

percentage point by the end of 2015. If you are in a

position to be able to buy a home now before these

predictions become reality, contact Mike D Santos.

 

2015: A Year of Housing Opportunity

by Michel Delos Santos

2015: A Year of Housing Opportunity


Posted: 16 Feb 2015 04:00 AM PST

Many believed that when the housing market crashed, so too would the desire of American’s to own

a home again. Many reports have shown that, especially among younger generations, the American 

Dream of homeownership is still very much alive. Julián Castro, Secretary for HUD, recently summed

 up what it means to own a home in a speech at the National Press Club.

"Homeownership is still the cornerstone of the American Dream — a fact you can see in
the lives of everyday 
 folks. It’s a source of pride. It’s a source of wealth, providing both a nest and a nest egg. And it strengthens
communities and fuels growth in the overall economy."
Castro appropriately named his speech, “2015: A Year of Housing Opportunity”, a theme that rang true throughout.
“Opportunity is not an abstract concept - it's a path to a more prosperous life, and housing often serves as
its foundation. T.S. Elliot once said that "home is where one starts from." “A home is often a primary source
of wealth in a family… Having a home is generational way to pass that wealth on. We want people responsible
enough to own a home to have that opportunity.”

Bottom Line

“Over the years-through decades of economic downturns and wars-the American people have always held
on to this Dream, and always will.”

As the economy continues to improve, more and more Americans will qualify for homeownership, allowing more

families to obtain the American Dream.

Save on Homeowner's Insurance

by Michel Delos Santos

Save on Homeowner's Insurance

 

 

Insurance is a way to hedge the risk of a possible loss on an asset that a person or entity cannot afford.  The cost of the coverage is determined by risk and exposure to the insurer and reflected in the premium.

 

Another way to say it is: don’t buy insurance when you can afford the loss.  If you have a mortgage on your home, you must have insurance.  It is probably prudent for most people to have property insurance but certain coverage might be avoided because you can afford the loss if you were to have an occurrence.

  1. Call your current agent and review your insurance coverage.  Ask if there are any available discounts whether your property qualifies for now or after certain improvements are made.  Monitored alarm systems, dead bolts, smoke detectors, updated electrical, certain types and ages of roofs among other things may be eligible for individual discounts. 
  2. Compare the newly revised coverage and premium with other reputable agencies and insurers.  Shopping can be time consuming but experts agree that the exercise can be valuable and should be considered every few years. 
  3. Deductibles are an easy way to affect the premium based on the initial amount of loss that the insured wants to assume.  The higher the deductible, the lower the premium.  Determine the amount of risk you want to assume and select an appropriate deductible.
  4. Consider bundling your home and auto policies for possible discounts and leverage for better service.
  5. Don’t become a co-insurer.  Most policies stipulate that a building must be insured for at least a certain percentage, usually 80% of its insured value to be able to collect the full amount of a partial loss.  Insured value is not always the same as market value.  The land is not considered in the value but replacement cost of the dwelling is.

It isn’t possible to purchase insurance after a loss; it must be purchased before a loss is incurred.  Premiums are based on careful analysis of insurer’s loss and overhead expense plus a profit.  As a homeowner and an insured, it would be equally wise to analyze coverage, claim service, your risk tolerance and the premium you’ll pay for that coverage.

Displaying blog entries 1-10 of 18

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