Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020.
Below is a chart depicting the projections of each entity for 2019, as well as for 2020.
A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC]
![A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC] | Simplifying The Market](https://daytonabeachpropertysearch.com/wp-content/uploads/2019/09/20190906-Share-KCM-549x300.jpg)
![A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC] | Simplifying The Market](https://daytonabeachpropertysearch.com/wp-content/uploads/2019/09/20190906-MEM.jpg)
Some Highlights:
- Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most powerful decisions you can make.
- A real estate professional has the experience to help you confidently navigate through the entire process.
- Make sure you work with someone who knows the current market conditions and can simply and effectively explain them to you and your family.
Everybody Calm Down! This Is NOT 2008
Last week realtor.com released the results of a survey that produced three major revelations:
- 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next.
- 57% believe the next recession will be as bad or worse than 2008.
- 55% said they would cancel plans to move if a recession occurred.
DOWNLOAD MY BUYERS GUIDE HERE
Or View The Buyers Guide Online Here
Since we are currently experiencing the longest-ever economic expansion in American history, there is reason to Continue reading…
How Property Taxes Can Impact Your Mortgage Payment
When buying a home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area?
When applying for a mortgage, you’ll see one of two acronyms in your paperwork – P&I or PITI – depending on how you’re including your taxes in your mortgage payment.
P&I stand for Principal and Interest, and both are parts of your monthly mortgage payment that go toward paying off the loan you borrow. PITI stands for Principal, Interest, Taxes, and Insurance, and they’re all important factors to calculate when you want to determine exactly what the cost of your new home will be.
TaxRates.org defines property taxes as,
“A municipal tax levied by counties, cities, or special tax districts on most types of real estate – including homes, businesses, and parcels of land. The amount of property tax owed depends on the appraised fair market value of the property, as determined by the property tax assessor.”
This organization also provides a map showing annual property taxes by state (including the District of Columbia), from lowest to highest, as a percentage of median home value.
Bottom Line
Depending on where you live, property taxes can have a big impact on your monthly payment. To make sure your estimated taxes will fall within your desired budget, let’s get together today to determine how the neighborhood or area you choose can make a difference in your overall costs when buying a home.
Greater Daytona Beach Area Luxury Homes With Seller Financing Available
I get at least 2 to 3 calls every day from buyers looking to purchase a home in the Daytona Beach, Ormond Beach and Port Orange areas where the seller will carry the note on the home for a short time. This is ideal for the buyer that has cash on hand and has problems getting a traditional mortgage with a bank. The sellers own these homes outright and act as the bank with the buyer’s cash acting as the credit and collateral.
Below are the latest homes on the market in the Greater Daytona Beach area with the option of seller financing being available. These terms are negotiable however sellers like even in a traditional sale have a bottom line of where they want to be financially. I can help you navigate these negotiations and help you get a great deal not only on the home but also on the financial terms. We can negotiate in most cases the amount of money required down, Interest rate and the length of the note. Just as a working example a typical Seller financed property will have terms like this: 20% down, 7% interest with a balloon due on the remaining balance in 5 years. Many of my clients just need 3 to 5 years to set their finances up to refinance the loan into a conventional mortgage.
LUXURY HOMES FOR SALE WITH SELLER FINANCING AS AN OPTION
5 Reasons to Sell This Fall
Below are 5 compelling reasons listing your home for sale this fall makes sense.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase…and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply that is needed for a normal market. This means that in the majority of the country, there are not enough homes for sale to satisfy the number of buyers.
Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has Continue reading…
Homeownership Will Always Be a Part of the American Dream
On Labor Day we celebrate the hard work that helps us achieve the American Dream.
Growing up, many of us thought about our future lives with great ambition. We drew pictures of what jobs we wanted to have and where we would live as a representation of a secure life for ourselves and our families. Today we celebrate the workers that make this country a place where those dreams can become a reality.
According to Wikipedia,
“Labor Day honors the American labor movement and the contributions that workers have made to the development, growth, endurance, strength, security, prosperity, productivity, laws, sustainability, persistence, structure, and well-being of the country.”
The hard work that happens every day across this country allows so many to achieve the American Dream. The 2019 Aspiring Home Buyers Profile by the National Association of Realtors (NAR) says,
“Approximately 75% of non-homeowners believe homeownership is part of their American Dream, while 9 in 10 current homeowners said the same.”
Looking at the number of non-owners, you may wonder, ‘If they believe in homeownership, why haven’t Continue reading…
A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]
![A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC] | Simplifying The Market](https://daytonabeachpropertysearch.com/wp-content/uploads/2019/08/2019830-Share-KCM-549x300.jpg)
![A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC] | Simplifying The Market](https://daytonabeachpropertysearch.com/wp-content/uploads/2019/08/20190830-MEM.jpg)
Some Highlights:
- There is plenty of talk in the media about a pending economic slowdown.
- The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th.
- Many experts predict a potential recession is on the horizon. However, housing will not be the trigger, and home values will still continue to appreciate. It will not be a repeat of the crash in the 2008 housing market.
iBuyers: What Is the “Cost of Convenience” When Selling Your Home?
When thinking about selling their house, homeowners have many options. A relatively new option is using an “iBuyer.” What is an iBuyer?
According to Jovio, the definition is:
“A company or investor that uses Automated Valuation Models (AVMs) to make instant offers on homes. It allows sellers to close on a property quickly. Once sold, the company then turns around and resells the home for a profit.”
Today, there are many iBuyer companies such as OfferPad, Zillow Offers, Knock, Opendoor, and Continue reading…
Top Priorities When Moving with Kids
According to the Pew Research Center, around 37% of U.S students will be going back to school soon and the rest have already started the new academic year. With school-aged children in your home, buying or selling a house can take on a whole different approach when it comes to finding the right size, location, school district, and more.
Recently, the 2019 Moving with Kids Report from the National Association of Realtors®(NAR) studied “the different purchasing habits as well as seller preferences during the home buying and selling process.” This is what they found:
When Purchasing a Home
The major difference between the homebuyers who have children and those who do Continue reading…