Blog

The Federal Reserve kept the benchmark rate unchanged on September 21st, in a divided vote that alludes to the possibility of a hike before the end of the year. “The Committee judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence of continued progress toward its objectives,” the Federal Open Market Committee (FOMC) released in statement. “The Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate; the federal funds rate is likely to…

There are many things that should be considered when buying a home. Since most home buyers expect to buy a bigger and better home someday in the future, resale value is an important factor in decision-making. While no one can guarantee that your home will grow in value, there are steps you can take that maximize your potential gain. “Location, location, location,” is a common and almost overused phrase in real estate and has been in use at least since 1926, according to the New York Times. It is just as relevant now as it was then. The idea…

When buying a home, most people focus on how much the home costs and what interest rate they can get on the loan. While understanding the lending process is very important, the other fees that home buyers overlook when it comes to their home purchase. There are some fees that will require up-front payment. Other fees may be rolled into the loan for your home. It’s important to understand the difference and know what you’ll be expected to pay. Earnest Money Deposit To prove you’re “earnest” in your purchase commitment, a buyer can expect to deposit to a trust account 1% to…

What to do before closing: You can still be denied for a mortgage loan, even after you’ve been pre-approved by the lender. The pre-approval is not a commitment or guarantee. You’ve been conditionally qualified for loan. But you need to stay qualified all the way up to the closing. The less your financial situation changes, the better. If you withdraw or transfer funds for any reason before closing, your lender will probably ask for a written explanation. They will also want to see a record of the transaction, such as your bank statements. Make sure you have a home owners insurance policy…

Florida’s housing market reported higher median prices and fewer days to a contract in June, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 27,086 last month – slightly higher (0.4%) than the June 2015 level of 26,973 closed sales. “Florida’s housing market is experiencing tight supply and pent-up demand.  That is affecting the pace of sales and putting pressure on statewide median prices. Florida’s economic growth, rising jobs outlook and acclaimed quality of life continue to draw new residents eager to call the Sunshine State home. Home sellers continued to get more…

This chart is a representation of the standard real estate closings.  Different rules may apply by State or county within a State.

When you buy a fixer-upper residence for either personal or investment reasons, you need to have a thorough understanding of all of the potential related additional costs to determine if it is a worthwhile investment. The following analysis in introspection will assist you in determining much you can afford, how much to offer, and whether a fixer-upper house is right for you. Decide what you can do or want to do yourself TV remodeling shows make home improvement work look like a snap. In the real world, attempting a difficult renovation job that you don’t know how to do will take longer…

Buying a home is a major lifestyle and investment decision. Homebuyers have a lot of questions throughout every step of the process and I have found that many of the questions are common to many. Here are some answers to the most common questions I get asked. Q: What home can I afford? That depends, of course-on your income and other financial obligations. There are many Home Affordability Calculators for a ballpark figure. A visit to the Optima Properties website will offer you many tools under the  Finance Center! Before you start to shop, make sure that you know exactly what you can…

Sunshine, beaches and a laid-back lifestyle have made Florida one of the top destinations for retirees looking to live out their golden years in peace and comfort. Now a new study from WalletHub.com has named the Sunshine State the best place in the U.S. to retire based on its affordability, quality of life and healthcare. The website pointed out that nearly a third of non-retirees have no retirement savings or pension and said it made its choices to help retirees find the states that offered the most bang for their buck. Rounding out the top five for 2016 after Florida…