Starting To Get The Feeling You Need Your Own Place?

Is it getting a bit too cozy where you are living at the moment? If you are currently renting or staying with the folks, you owe it to yourself to read this article all the way through to the end.  You will learn about some enticing Florida First Time homebuyer plans and more.

Why so?

What is the big deal here? Fact: new year means new opportunities. Nowhere is this more true than in the area of home ownership. Look: the reality is that putting on those big boy or big girl pants means that it is about time to do something about your current living situation. Really, aren’t you about ready to step up and proudly call yourself a homeowner? Don’t you want to check the box that says OWN the next time you fill out an employment or credit application?

Why Now?

Actually now is the best time in years to begin a home search. You see, Real Estate markets go through cycles. Sometimes the local real estate market is what is termed as Seller’s Market. That means that homes sell rather quickly and it is not uncommon for bidding wars to show up over certain homes. In other words, the Sellers market favors the existing homeowner that is ready to get out. Whether the Seller wants to up-size, to downsize or to relocate, the Seller is in the best position.

If Real Estate is compared to a card game, you could say that the Seller is sitting on the best hand at the table—at least with respect to the Buyers. On the other hand, if there is a Seller’s market as you might rightly expect there has to be Buyer’s market. That means a couple of things. For one, you will see more homes for sale sitting longer than before. A Buyer’s market also means that more often than not, the Seller is much more willing to negotiate a better deal.

Quick Question For You

Guess which part of the cycle our local market just shifted towards? If you nodded your head as you muttered ‘Buyer’s Market’, congratulations, go straight to the head of the class. Fact: the South Florida Real Estate Market has been slowly easing its way into a Buyer’s market for the past month or so.

Does that mean you should wait for the bottom of the market? No, not if you are smart. You see, no one has a crystal ball and no one can tell how long this shift will last. Is it a temporary shift associated with the recent election drama? Is the shift to a Buyer’s Market something more long term? Fact: market timing in stock market investing and in Real Estate is a fool’s game. This sort of nonsense is best left to those late night info-mercials that want you to buy their latest Real Estate Riches for Dummies program. (fictional title to illustrate the point).

Role Of Interest Rates

Yeah, but I just read that interest rates and mortgage rates just rose again. And your point is…? Look, interest rates and mortgage rates are still at record lows! Fact: you can own your own home for about the same you are currently paying for rent (at least in the South Florida area where rents are rather sizable compared to other areas).

Help Is Available

(cross link to first time buyer page) There are an astounding number of first time home buyer programs out there. Chances are good that one of these programs will fit you and your situation. Better still, there are a number of Florida first time home buyer plans that could end up being the best choice for you.

Help For Florida First Time Home Buyer

Check this out: Would you even believe that there are Florida First Time Home Buyer programs out there right now that can get you into your own home with as little as 1% to 3.5% down? Not only that, but some of these Florida first time buyer plans even have provisions to help pay your closing costs. Yes, you have to have some credit, but probably not as high a credit score as you might first suppose. Would you believe that there are plans out there that can put you into your own home with a credit score as low as 580? But hold, even if your credit is lower, there are still options out there for you.

Once In A Lifetime?

So what does all of this mean? If you are at the point in your life when you are sick and tired of Paying the Landlord and would feel much better writing a check every month that puts one step closer to owning your home, now is the time to step up and do something about it. Or you can put it off and just wait and see. Sure, that might work for you. But do keep in mind that this is the first time in a long time where everything seems to be in place to be a first time home buyer. From record low interest rates to a local Real Estate Market that has suddenly shifted in your direction, this could be the once in a lifetime event. You know, something like seeing the comet that grazes the Earth every 100 years or so?

Is It The Economy ?

Keep in mind, the recent record stock market performance could be the sign of more such good news for the economy. And as the economy improves, it takes no rocket scientist to forecast that the Federal Reserve Board will raise the interest rate it charges to larger banks. When that rate is bumped up, mortgage rates quickly follow. That means that now you may not qualify for quite so much house as you were hoping.

Now What?

Get it? Is buying a home the right choice for you now? Thinking about becoming a first time home buyer? Act now while the stars are aligned in your favor. You’ll be glad you did!

 

image of Florida First Time Home Buyer plan

image of Realtor Jim explaining Florida first time buyer plansJim Gibson
KellerWilliams Realty Professionals
3696 N. Federal Hwy, Ste 101
Fort Lauderdale Fl 33308
954 895 5335
Jim@FloridaRealEstate.Solutions

First homesearch on your mind?

First Home Search image

Tired of the Rental Game?

Are you better off Renting?

First home search popping into your head more often nowadays?  Truth be told, this is a complicated and some would say tricky subject to think about. Yet, that being said, there are some quick and easy questions you can ask yourself to make this decision easier. If you are taking the time to read this then chances are that you or someone you know is currently renting (leasing) and that lease has an end date that may be looming ever closer.

Now you are faced with a question that most likely pops up every year before you renew.

Should you stay or should you go?

  • another rental someplace else?
  • time for that first home search?
  • forget and just renew the lease?

Understand that  this is a personal matter and there is NO RIGHT ANSWER regarding when the time is right to pull the trigger and go for it, the time to begin the Search for your first home.

Nevertheless, no matter where you are in considering a first home, it is always a good idea to learn a bit more about the sort of questions you should be asking yourself (and significant other if applicable).

First Home  5 Key Questions to Ask

 

Visit houselogic.com for more articles like this.

Copyright 2017 NATIONAL ASSOCIATION OF REALTORS®

So where are you? Did you find the questions posed above to be helpful at all? Do you need more info?  Let us know how we can help with your first home search.

Have you tried it, to just Google Foreclosures, that is?

What Does GOOGLE know and understand about foreclosures today?

Seriously, a quick and easy Google Search , as in just Google Foreclosures and look what pops up. You will see something about the current state of foreclosures that you might not have expected.

Take a look at this chart below

image showing trend chart from just google foreclosures
What’s GOOGLE telling us about Foreclosures?

Is this an early warning bell? Is there something going on here that has not yet caught the attention of major media? If you take a look, you can clearly see that this chart from the authoritative Google Trends Search just had experienced a rather noticeable bump. You see it there? Right at the end of 2016 there was a sudden and hard to ignore spike in searches that term foreclosures.

The $10,000 question

What does just google foreclosures chart really mean?

  • Is it a search by investors wanting to snap up homes at a discount from foreclosure sales?
  • Is it a search by homeowners in distress (industry speak) desperately seeking answers?
  • Could it be employees of the  banks themselves, the ones that know full well they are holding onto properties that should have been foreclosed long ago?
  • Of is it something else entirely?

Truth be told, nobody, no one has a crystal ball and no one can tell you what this means. Nevertheless,  this is something you might well want to keep a close eye upon. In other words, wait about another 30 days or so and just google foreclosures again. Will this chart have reversed direction and started heading the other direction?

Or (gasp!) wll just google foreclosures show you a trend line that is going the wrong way entirely?

Stay tuned as the New Year swings into gear and there is a bit more data to sift through.

What’s your take on this?