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Popular posts from this blogWhat You Should Do Before Interest Rates Rise * 3 Min Read Or Link To Video
In today’s real estate market, mortgage interest rates are near record lows. If you’ve been in your current home for several years and haven’t refinanced lately, there’s a good chance you have a mortgage with an interest rate higher than today’s average. Here are some options you should consider if you want to take advantage of today’s current low rates before they rise. Sell and Move Up (or Downsize) Many of today’s homeowners are rethinking what they need in a home and redefining what their dream home means. For some, continued remote work is bringing about the need for additional space. For others, moving to a lower cost-of-living area or downsizing may be great options. If you’re considering either of these, there may not be a better time to move. Here’s why. The chart below shows average mortgage rates by decade compared to where they are today: Today’s rates are below 3%, but experts forecast rates to rise over the nex...
The Biggest Real Estate Forecasts for the Second Half of 2025
Can you believe we’re already halfway through 2025? As we head into the second half of the year, a lot of buyers and sellers are asking the same thing: What’s next for the housing market? While no forecast is guaranteed, economists from Fannie Mae, Zillow, NAR, MBA, and others have released updated projections on everything from home prices and mortgage rates to sales activity and market recovery. In this post, I’ve rounded up the key takeaways from their mid-year outlooks—and added a breakdown of what they could mean for our local market here in SW Broward County . Home Price Forecasts Most housing economists agree: prices will rise, but not by much. And depending on where you live, they could even decline. Home price forecasts for 2025: Cotality: +4.3% from April 2025 to April 2026 Fannie Mae: +4.1% in 2025 Home Price Expectations Survey (HPES): +3.3% NAR: +3% in 2025, +4% in 2026 MBA: +1.3% in 2025, <1% in 2026 Zillow: -1.4%, an improvement from its earlier prediction of -...
Before You Buy That Fixer-Upper, Read This!
For the first time in years, existing homes (yes, the older ones that often need updates) are selling for more than brand-new construction. According to the latest numbers , the median price of an existing home is $429,400. For a newly built home? $410,800. That’s an $18,600 difference. So if you’ve been eyeing a resale home thinking it’s the “cheaper” option, you might want to check out all your options. Let’s break down what’s going on, why it matters, and what it means if you’re thinking about buying a home. The Numbers Say It All It used to be that brand-new homes were priced way above resales. From 2010 to 2019, the gap between new and existing homes averaged about $66,000. Over the past five years, that gap narrowed to around $25,000 on average. Things first flipped in Q2 and Q3 of 2024, when the median price of existing homes surpassed new homes for the first time. And now in 2025, that trend is holding strong. Not only are resale homes more expensive than new const...
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