Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades…
The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded. So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each one. NAR reports on the median home sales price, while some other sources use repeat sales prices. Here’s how those approaches differ…..
No matter if you’re in a buyer’s or seller’s market, there are a few critical steps you can take to make a smarter purchase. Since buying a home is likely the biggest single investment you will ever make, being prepared will help you make a better purchase. Here are our best tips to buying a home.
Many sellers in today’s market favor buyers who are willing to guarantee their full offer price—even if the property appraises for less. For the buyer, that could require a financial leap of faith that the home is a solid investment. It also means they may need to come up with additional cash at closing to cover the gap.
How does a lower mortgage rate save you money? According to Trading Economics, the average new mortgage size in the United States is currently around $410,000.2 Let’s compare a 5.0% versus a 6.0% fixed-interest rate on that amount over a 30-year term.
We took a day trip and went out to Bok Tower Gardens. Its about a 1 hour and 20 minute drive from Orlando to the Bok Tower Gardens historical landmark in Lake Wales. Through the inspiration of Mr. Edward William Bok and the vision and design of Frederick Law Olmsted Jr. “Bok Tower Gardens has offered some ofContinue reading “A Visit to Beautiful Bok Tower Gardens and EL Retiro by Todd Mowry Your Local Orlando Area Realtor”
New Build or Existing Home: Which One Is Right for You? Homebuyers today are facing a huge dilemma. There simply aren’t enough homes for sale. Nationwide, there were 1.27 million active listings in September, down 13% from the previous year. According to the National Association of Realtors, that’s about 2.4 months of inventory, which is farContinue reading “Looking for a New Build? Read This First. -Todd Mowry Local Orlando Realtor”
According to the FBI, more than one million burglaries are committed in the United States each year, with victims suffering an estimated $3 billion in combined property losses.1 Fortunately, there are some proven tactics you can use to decrease your likelihood of a home invasion. Most burglars won’t go to extreme lengths to enter aContinue reading “Shut Down Home Intruders With These 7 Safety Strategies- From Todd Mowry Your Local Orlando Realtor”
Here is a Central Florida Real Estate Market Update for June 2021 There is a new low for listings days on market, and it happened this June. A new low of 29 Days on Market is a new post recession of 2007 low. State of the Market for June 2021 Here is what is goingContinue reading “Central Florida Market Update for June 2021”
There are various things to look for on your home tour with a Realtor. You should look at all the usual things like the kitchen, baths, layout, rooms and the backyard… but there are also things that you should look at on your tour that can save you a lot of time and money ifContinue reading “Major Things Buyers Should look For When Taking A Home Tour with a Realtor.”