As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first-time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home.
Let me explain.
There are many factors that influence the ‘cost’ of a home. Two of the major ones are the home’s appreciation over time, and the interest rate at which a buyer can borrow the funds necessary to purchase their home. The rate at which these two factors can change is often referred to as “The Cost of Waiting”.
What will happen over the next 12 months?
According to CoreLogic’s latest Home Price Index, prices are expected to rise by 5.5% by this time next year.
Additionally, Freddie Mac’s most recent Economic Commentary & Projections Table predicts that the 30-year fixed mortgage rate will appreciate to 4.5% in that same time.
What Does This Mean to a Buyer?
Here is a simple demonstration of what impact these projected changes would have on the mortgage payment of a home selling for approximately $250,000 today:
If you’d like to take advantage of today’s incredibly low interest rates, I’d be happy to help you on the right path toward owning your home!
Yesterday, I had the opportunity to spend some time in the playground with my kids and a wonderful mommy friend who has grown to be one of my nearest & dearest. The beauty of being a Realtor for me as a busy mother of 3 is having flexibility. I get so busy balancing helping clients, home and family obligations that I had sadly not taken the time to visit the local park (Miramar Regional Park) in a very long time.
Being a South Florida native, I’ve had the opportunity to live in different cities such as Aventura, Sunny Isles, Kendall, South Beach and where I was born, Hialeah! I must admit my husband and I enjoyed the city life before moving to the burbs. The nightlife was plentiful as well as “day life”. There was always something to do. We would frequent nearby music venues, bars, go dancing every once in a while, etc. It was fun. But then we had kids and priorities shift. We started researching neighborhoods to raise a family, where there were great schools and nice homes that were affordable.
This is when we discovered the Southwest Broward area aka. the burbs. It was marvelous. We didn’t even know this area existed. It was nicely tucked away in between Fort Lauderdale and Miami close enough to the highways making it easy to venture off to the “city” whenever we wanted to have a taste of the city life again. But, here we had everything we needed for our everyday life for the whole family…restaurants, shopping, great schools, church fairs, local hot spots for date nights, neighborhood events, the list goes on.
There were many options to live in this area too like Miramar, Pembroke Pines, Southwest Ranches (where you can find the larger lots/acres+), Weston, Davie, Cooper City, and Sunrise. We have called this area (“the burbs”) our home for over a decade and love this lifestyle because it is ideal for our family. It was a glorious day indeed…clear blue skies, cool temperatures (high 60’s – low 70’s), birds chirping (no traffic or sirens wailing) and just reflecting on a beautiful neighborhood with kids laughing and playing in a beautiful park so close to home…in the burbs!
Here’s a glimpse of the glorious day!
Well, you guessed it, I am a Realtor but why “peaceful”??
First time home buyers may have a vision of buying a home as a “dream come true” and don’t get me wrong, it usually is for most homeowners and existing homeowners looking to sell may think it’s as easy as 1-2-3.
However, for those “experienced” homeowners out there, we know buying or selling a home can sometimes be a stressful experience. You may have unrealistic expectations, bad advice, poor guidance or be outbid on your “dream” home. There’s a myriad of scenarios that can turn this dream into a nightmare or two. I understand this as an experienced homeowner as well as a real estate professional that happens to be very “hippie”-like (<-I just made up that word) according to some of my closest friends and family.
Why “hippie” possibly because I tend to try to look at all angles of a scenario and keep the “peace”…not to mention other possible reasons such as having my kids naturally, breastfeeding, etc. But I digress…I just figured I could exude a positive vibe from the get-go starting with my “brand”. I set realistic expectations from the beginning, explain the process and work with my people from beginning to close to ensure the most peaceful and enjoyable experience as I like to have fun whenever possible. That said, you can expect a lot of enthusiasm when we land the right home or offer on your house!!
**Disclosure: don’t mistaken “peaceful” as passive. I know when to use tact when necessary to negotiate the best possible deal for my clients. I just have a collaborative and competitive approach (when needed) that helps keep the peace during the process. **
It only seemed logical to add a catchy slogan when I realized my ideal brand, so remember whenever there’s a need to sell or buy, you’d want to…
“Move with Peace, Contact Jenise!”
Hope you enjoy my blog. This is my first one ever so I hope you’ll stick with me and that I’m not terribly awful. Feel free to share your comments and/or feedback. Again, please take it easy on me as I’ve just popped my “blog” cherry ;)!