Wednesday, February 10, 2021 / by Bridget Bass
If you're a buyer looking for a home in South Florida, don't wait. Inventory is low with no sign of improvement. Experts say that sales will continue to increase as much as 21.5% by December 2021. If you're a buyer, that means your competition isn't going to go away.
If you're considering waiting until the market cools, all signs say: No! The market isn't going to cool; in fact, it's going to continue strong. Buyers who are financially able to buy now, should.
Here are two reasons why you can't afford to wait:
1. Home values are expected to rise by 10.5% by the end of the year.
Let's say you buy a house today valued at $300,000. Same time next year, that house may be worth $331,500 or more!
2. Today's mortgage rates are low which means you can afford more.
Rates are starting to rise - which means the sooner you buy, the more likely you are to take advantage of lower rates. Lower rates means you can afford more of a home. For example, Zillow reports that ...
Friday, January 8, 2021 / by Bridget Bass
What is the Florida Homestead Exemption?
It is a tax exemption offered to Florida property owners that can reduce their property tax liability. This exemption helps thousands of Florida homeowners save money on their property taxes every year. Further benefits are available to property owners with disabilities, senior citizens, veterans and active duty military service members, disabled first responders, and properties with specialized uses.
How does it work?
It’s offered based on your home’s assessed value and offers exemptions within ranges of your homes value. Specifically:
For the first $50,000 in assessed value of your home, up to $25,000 in value is exempted. (This exemption applies to all property taxes, including those related to your school district.)
You pay full taxes on any value between $25,000 and $50,000.
For any assessed value between $50,000 and $75,000, an additional $25,000 is eligible for exemption. (but this exemption does not appl ...
Wednesday, October 7, 2020 / by Bridget Bass
There are some amazing perks to buying a new construction home: the opportunity for full personal customization, brand new appliances, amenities, and state-of-the-art home technology.
If you're in the market for a brand-new home and didn't think about hiring your own agent: YOU SHOULD! You could always go straight to the developer's agent, but you're definitely going to want an expert on your team who will represent your side of the deal. The keyword here is "expert". Purchasing new is an altogether different landscape to navigate than purchasing resales. Make sure your agent is equipped with the skills to protect your interests every step of the way.
The Builder's Agent vs Your Real Estate Agent
It is important to identify who is on what side and the role each person will play in the transaction. In a new construction deal, the builder plays a dual role also functioning as the "seller". That being said, the builder's agent's primary goal is to generate sales for the b ...
Monday, August 3, 2020 / by Jordana Tobel
A bad time to sell? Well, no. A bad decision to buy? Absolutely not. What's REALLY happening in the South Florida real estate market?
To those outside the industry, it may feel different but there are facts and circumstances in today's world that simply make this market unlike any other. Those of us who were around for the 2008 Recession may have some moments that feel like deja vu, but the truth is that this is nothing like the last recession.
Let's dispel the top three myths:
MYTH #1. It's a bad time to sell a home.
Yes, we are in a pandemic and unemployment is an issue, however despite that fact, there are many buyers frantically looking for a place to call home. At the same time, many homeowners are choosing not to sell and thus new home listings plunged 14% in early July compared to last year at the same time. Total inventory is also down 32% year over year. That means the current buyer demand is higher than the seller supply.
If you are considering selling, now is ...
Thursday, January 9, 2020 / by Jordana Tobel
Curious about what to do to get ready for your home purchase?
If it's finally time to put your rental days behind you, or perhaps you are selling your current home and looking for a new one, it's never too early to start planning.
Here are 5 tips to get ready for your purchase (if you prefer, watch the video version of this post here.):
1. Stay on top of your credit.
This is the number banks will look at to determine whether you are credit worthy and it dictates the rate you will be charged by the bank. The higher your credit score, the lower your interest rate—and that’s what you’re going for. Get a free copy of yours at AnnualCreditReport.com to see where you stand. AnnualCreditReport.com is the only source for free credit reports, every 12 months, authorized by federal law. Once you have your report, check for mistakes! It is very common to have mistakes and you can contact the credit bureaus directly to correct an error.
2. Figure out how much ...