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Treasure Coast & Palm Beach | Real Estate Blog

5 Tips for First-Time Florida Homeowners

Are you purchasing a home in Florida? Living in Florida is a little different than living in other parts of the country, as its tropical climate and diversity are part of what makes the state so great. From Spanish-influenced architecture to an abundance of palm trees, Florida is the paradise many are looking for. As a first-time homeowner in Florida, however, you need to be prepared. In this article, we’ll go over a few different tips if you’re looking to purchase your first home in Florida. Keep reading to learn more. Consider purchasing a home security system As a new Florida homeowner, you want to do whatever you can to keep you and your home safe. One way of doing so is by installing a ...

Mortgage refis will get a lot more expensive. The industry isn’t happy

(iStock) Homeowners looking to refinance their mortgage are going to be in for a pricier ride. And mortgage and housing professionals, who’ve benefited from record low rates to do brisk business, are miffed. Freddie Mac and Fannie Mae said Wednesday that they will charge an additional 0.50 percent, or 50 basis points, fee to lenders on refinance loans. That means the average consumer looking to refinance a home will soon be paying $1,400 more than they would previously, according to the Mortgage Bankers Association. Fannie and Freddie cited Covid-related losses from the coronavirus and economic uncertainty to justify the fee hike, which kicks in in September. The government-sponsored entities, which are under the oversight of the Federal Finance Housing Agency (FHFA), do not originate mortgages, ...

Buying a House During a Recession?

Read This First While any recession indicates general economic hardship for a country-at-large, it’s typically an advantageous time for first-time home buyers and investment buyers. Along with home prices being lower, mortgage rates also tend to be lower. However, there are downsides to buying during a recession as well, and it’s important to take the right approach if you want to make the right decisions along the way. If you are thinking about buying your first home or an investment property in the midst of a recession, consider these tips before you dive in: Evaluate Your Financial Standing First of all, take a look at your finances and take an honest assessment. How much house can you afford? Even if you find a great deal ...

30-year mortgage rate hits record low

The 2.98 percent is the lowest Freddie Mac has seen in nearly 50 years of tracking (iStock) The average rate on a 30-year mortgage, America’s most popular home loan, has fallen below 3 percent. The 2.98 percent is the lowest Freddie Mac has seen in nearly 50 years of tracking. It’s the third consecutive week of decline and the seventh record-low set this year, according to the Wall Street Journal. Rates last hit a record low of 3.07 percent on July 7. Jeff Tucker, an economist at Zillow, told the Journal that falling below the 3 percent benchmark indicates that “we remain in a crisis here.” But not all mortgage rates are experiencing the same pace of decline. Jumbo loans — those roughly $510,400 in ...

Virtual Tools House Hunters Can Utilize During the COVID-19 Pandemic

You’ve spent months thinking about moving out of your current residence and buying a new home. You began making plans to leave your area, you started casually browsing homes for sale in a few other cities, and you were even daydreaming about your ideal master bedroom or backyard. But since the COVID-19 pandemic began, you might be hesitant to continue looking at homes. These resources will help you take care of almost every aspect of the home buying process online, from finding safe neighborhoods to touring homes to hiring movers. Real Estate Research Calculate Your Maximum Home Price Check Out City Reviews with Niche Find Safe Areas with Digital Crime Maps Viewing Homes Browse Listings with the Top Real Estate Search Engines Virtually Visit Neighborhoods ...