Thursday, June 22, 2017

RE Market Update May 2017



We’ve taken monthly and annual housing market statistics straight from Florida Realtors® and created easy-to-interpret, one-page summaries for your customers in Palm Beach, St. Lucie, and Martin Counties.



Wednesday, June 21, 2017

The 10 Most Expensive Homes for Sale in the U.S. Right Now | realtor.com®



Let’s ogle big, beautiful, and budget-busting homes! Curious about the country’s priciest pads, we count down the 10 most expensive listings on the market.


Source: The 10 Most Expensive Homes for Sale in the U.S. Right Now | realtor.com®



Tuesday, June 20, 2017

How Long Does It Take to Get a Mortgage?



How Long Does It Take to Get a Mortgage?






Home shoppers may need to plan for more time than they realize when they’re starting the process of obtaining a mortgage.


“Today’s mortgage process is very involved, particularly with regard to the documentation required, third-party verifications, and the independent appraisal process,” says Whitney Fite, president of Angel Oak Home Loans in Atlanta. “All of these moving parts can cause a delay in processing if an issue arises.”


The entire process encompasses getting preapproved, a home appraisal, and getting the actual loan. Typically, the process takes about 30 days, on average, Fite says.


However, in busier times of year, consumers should expect a longer wait. For example, a duration of 45 to 60 days, depending on the lender, may be more of the norm, according to a recent article at realtor.com®.


Consumers may be best off making sure they get an early start to the mortgage process from the moment they even start thinking they may want to purchase a property. Many sellers require buyers now get preapproved for a mortgage before they’ll even accept an offer.


For a preapproval, lenders will check the consumer’s credit rating, debt-to-income ratio, and other financial information. That alone may take a week or even longer, depending on the borrower’s circumstances.


But buyers shouldn’t confuse a preapproval for having an actual mortgage loan. Borrowers still have to apply for the actual loan and also get through the appraisal process. Also, in the underwriting process, lenders will review all of their financial information and ensure the home buyer has not made any false or misleading claims on their application.


Fite says the most common reason for a mortgage-related delay is the borrower not turning in documents in a timely manner.


“The best advice I can give someone buying a home is to prepare to respond very quickly for any and all documentation requests,” Fite says.





Source: How Long Does It Take to Get a Mortgage? | Realtor Magazine



Friday, June 16, 2017

Thursday, June 15, 2017

Common Cost-Cutting Measures to Avoid.



Saving money may always seem like a good idea, but sometimes penny-pinching can be a costly mistake. There are many good frugal living tips and making modest lifestyle changes can save you money, but if you’re considering saving with one of the three methods below, take a little time to look at the big picture first.


 


Buying something because it’s on sale. Timing purchases to coincide with sales and using coupons are practical ways to save money, but buying an item just because it’s on sale may not be a good idea. Rather than fixating on the large sale sign, consider whether or not you need something before buying it. Even an inexpensive purchase is a waste of money if you won’t actually use the product.


Skipping health checkups. Missing regular dentist visits because of the bill or unpleasant experience may be a mistake. You can get a filling for small cavities, but left untreated you may need a costlier crown, root canal or tooth extraction. If you think something may be wrong with your general health, avoiding the doctor because of the cost of a checkup could be a costly mistake. A report commissioned by Cancer Research UK found that for some cancers, early diagnosis can significantly increase life expectancy and decrease treatment costs by as much as 75 percent. If the cost of seeing a doctor is prohibitive, you can look for a low-cost community health center that offers services on a sliding scale based on your income.


Missing recommended car maintenance. Just as preventive visits to the doctor can help keep your long-term healthcare costs down, regular car maintenance may save you money. Check your owner’s manual to see how often the manufacturer recommends that you change the filters, belts, oil and other liquids. An oil change may cost $25 to $50, but going too long without an oil change can decrease your engine’s life or lead to engine failure. To save money, look for coupons or learn how to change your vehicle’s oil at home rather than avoiding the small upfront cost of an oil change. You may also be able to save money on vehicle maintenance by learning how to change your air filter, fix a chipped windshield or change brake pads.


There are many great ways to save money, but sometimes it can be easy to lose sight of the big picture. When considering ways to reduce expenses or increase savings, look for long-term wins. Think about whether or not you need something before buying it, regardless of its price, and weigh the benefit of making it harder to spend your savings. When it comes to your health and your possessions, remember that maintenance often costs less than repairs.


Source: Common Cost-Cutting Measures to Avoid | Discover Bank