South Florida On The Market

Freddie Mac recently released the results of its Primary Mortgage Market Survey®, showing mortgage rates easing to new all-time record lows for all products covered in the survey helping to keep homebuyer affordability high. The average for the 30-year fixed mortgage rate has been below 4.00 percent for six consecutive weeks. The survey concluded that the 30-year fixed-rate mortgage averaged 3.89 percent, with an average 0.7 point for the week ending January 12, 2012, down from last week when it averaged 3.91 percent. Last year at this time, the 30-year FRM averaged 4.71 percent. The 15-year FRM this week averaged 3.16 percent with an average 0.8 point, down from last week when it averaged 3.23 percent. A year ago at this time, the 15-year FRM averaged 4.08 percent. Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, with an average 0.7 point, down from last week when it averaged 2.86 percent. A year ago, the 5-year ARM

Despite the “doom and gloom” in today’s headlines, in the current economic climate, homeownership is more affordable than ever, thanks to low interest rates and lower home values. For those buyers who manage to have a 20% (or more) downpayment, they believe this will get them the lowest monthly mortgage payment. However, simply because buyers can afford to put down this amount does not necessarily mean they should. Those buyers who have saved enough to put 20%—or more—down on the purchase of a home may want to consider another approach—preserving some of their cash for savings, investing or other purposes. It may sound counterintuitive, but with today’s interest rates and the competitive pricing of private mortgage insurance (MI), borrowers can retain some of their money by putting less money down on a home—say only 10%—and still get a low monthly payment. Real estate professionals have a responsibility to all home buyers to help them evaluate their purchasing power based on existi

731  W 39 PL HIALEAH, FL 33012 $344,500 5 BEDROOM/ 2 BATHROOM ALMOST 3,000 SQFT LIVING AREA SPACIOUS HOME  WITH HIGH CEILINGS. KEY WEST STYLE PATIO WITH LUSH LANDSCAPING AND BUILT IN KOI POND, PERFECT FOR RELAXING OR ENTERTAINING. HOME IS LARGER THAN TAX ROLL AS PER OWNERS. VERY EASY TO SHOW. OWNERS ARE MOTIVATED, BRING ALL OFFERS! CALL OR EMAIL ME FOR MORE INFORMATION: 786-302-5343/ MALENYSHERNANDEZ@GMAIL.COM

The state of the housing market has been prompting homeowners to get creative when putting their home on the market, including over-the-top open houses and other pricey improvements. The Paint Quality Institute suggests that there are certainly less expensive ways to make a home stand out in the sea of homes for sale. The source suggests that the outside of the home should definitely stand out and a fresh coat of paint can sometimes do the trick. A spokesperson for the company also says that the front door is also relatively important. A freshly-painted exterior tells potential buyers that you take care of your home, while the entry way inside is just as important. Homeowners should repair any damage in the foyer or entryway of the home, and the source says light colors such as white or off-white are preferred by buyers. Other rooms in the home should also be painted in a neutral color, and can be a fun do-it-yourself project. Painting the exterior of a home can take a lot of tim

A new report shows that the current economic climate was a factor in the large increase of multi-generational households. A new poll by Generations United shows that 66 percent of adults believe the economy has influenced more family members to share a roof, and 21 percent reported that they think it was the only factor. The number of Americans living in multi-generational households jumped 10 percent since 2007, with a record 51.4 million individuals of all ages living in said households, according to the source. The survey reports that 40 percent of polled adults reported that job loss, a change in job status or underemployment as a reason, while 20 percent said healthcare costs prompted the formation. Fourteen percent reported that foreclosure or other housing loss initiated the change. Additionally, many agreed that there should be more government programs and policies in support of multi-generational households, while 63 percent said that social security plays a vital role in t

The housing market has shown to be improving steadily from recent reports, and while the winter is typically known as a bad time for sellers, Inman.com says it could be the best. The source says that homeowners with property already on the market should keep it on and homeowners debating listing should go for it. Sellers don't often put their homes on the market at the end or beginning of the year, so as the amount of competition dwindles down, a new home on the market could be appealing for potential buyers. The source suggests that the home be move-in ready, as potential buyers are most likely looking for an easy move during the holidays. Additionally, current mortgage rates and low average home prices are often very appealing to potential buyers. According to the source, the supply and demand of homes plays a large role in the odds that a home is ready to be on the market, while the health of the local housing market is always more important than the national market.