The Roselli Team - Your Real Estate Experts Pembroke Pines, Miramar, Weston, SW Ranches & Doral

If you’ve checked your Zestimate lately and felt that little knot in your stomach… you’re not alone. Across the country — and right here in Pembroke Pines, Miramar, Cooper City, and the rest of Broward County — homeowners are seeing their online values dip, stall, or jump around from week to week. So what’s actually going on? As a full-time realtor since 2004, let me cut through the noise and explain why Zestimates shift , what they mean , and what they DO NOT mean about your home’s true market value. 1. Zestimates Aren’t Market Values - They’re Algorithms Zillow’s Zestimate is a computer-generated guess , pulling from: Public records Tax assessments Historical data Neighborhood averages Previous listings/photos But here’s the problem… Algorithms can’t see your upgrades. They can’t feel the condition of your home. They don’t know you replaced the roof, remodeled the kitchen, or installed impact windows. And in South Florida, condition is everything. 2. ...

  Even though experts agree   there’s no chance   of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time ( see graph below ), that’s little comfort to those individuals who are facing challenges today. If you haven’t taken advantage of the   forbearance period , it may be time to research and understand your   options . It starts with knowing what foreclosure is.   Investopedia   defines it like this: “ Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property . Typically, default is triggered when a borrower misses a specific number of monthly payments . . .”  The good news is, there are   alternatives available   to help you avoid having to go through the foreclosure p...

With forbearance plans about to come to an end, many are concerned the housing market will experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here are four reasons why that won’t happen. 1. There are fewer homeowners in trouble this time After the last housing crash, about   9.3 million   households lost their home to a foreclosure, short sale, or because they simply gave it back to the bank. As stay-at-home orders were issued early last year, the overwhelming fear was the pandemic would decimate the housing industry in a similar way. Many experts projected   30% of all mortgage holders   would enter the forbearance program. Only 8.5% actually did, and that number is now   down to 3.5% . As of last Friday, the total number of mortgages still in forbearance stood at   1,863,000 . That’s definitely a large number, but nowhere near 9.3 million. 2. Most of the 1.86M in forbearance have enough equity to sell their home Of...

Click Here For Video! Click Here For Video! Click Here For Video!    Over the past year, the pandemic made it challenging for some homeowners to make their mortgage payments. Thankfully, the government initiated a   forbearance   program to provide much-needed support. Unless they’re extended once again, some of these plans and the corresponding mortgage payment deferral options will expire soon. That said, there’s still time to request assistance. If your loan is backed by HUD/FHA, USDA, or VA, you can apply for initial forbearance by June 30, 2021. Recently, the   Consumer Finance Institute   of the   Federal Reserve Bank of Philadelphia   surveyed   a national sample of 1,172 homeowners with mortgages. They discussed their familiarity with and understanding of lender accommodations that might be available under the   Coronavirus Aid, Relief, and Economic Security (CARES) Act . The results indicate that some borrowers didn’t take advan...