Uncategorized • June 10, 2023

Charles E Holmes – Accomplished Real Estate Agent in Stuart, Florida

by Charles "Charlie" Holmes

Welcome to the online profile of Charles E Holmes, an esteemed real estate professional with a proven track record of success in Stuart, Florida. With a wealth of experience and a deep understanding of the local market, Charles is dedicated to helping buyers and sellers achieve their real estate goals.

Accomplishments:

Extensive Market Knowledge: With over 8 years of experience in the Stuart real estate market, Charles possesses an unparalleled understanding of the local trends, neighborhoods, and property values. He leverages this expertise to guide his clients toward making informed decisions.
Exceptional Sales Performance: Charles E Holmes has consistently excelled in sales, delivering outstanding results for his clients. Through strategic pricing, effective marketing, and skilled negotiation, he has achieved numerous record-breaking sales in the Stuart area.
Award-Winning Realtor: Recognized for his exceptional service and outstanding performance, Charles has received several prestigious awards throughout his career. His dedication to client satisfaction and commitment to excellence have earned him accolades such as the Top Sales Agent of the Year and the Circle of Excellence Award.
Client-Focused Approach: Charles is known for his personalized and attentive approach to client service. He believes in building strong relationships based on trust, open communication, and integrity. He takes the time to understand his clients’ unique needs and works tirelessly to exceed their expectations.
Comprehensive Marketing Strategies: Leveraging the power of modern technology and effective marketing techniques, Charles E Holmes ensures maximum exposure for his clients’ listings. He utilizes high-quality photography, engaging property descriptions, and targeted online campaigns to attract qualified buyers.
Trusted Advisor and Skilled Negotiator: Charles’s clients appreciate his strong negotiation skills and strategic guidance throughout the transaction process. He is committed to protecting their interests and securing the best possible outcomes, whether they are buying or selling real estate in Stuart.
Active Community Involvement: Charles is deeply committed to the Stuart community and actively participates in local events and charities. He believes in giving back and making a positive impact, contributing to the growth and well-being of the area he serves.

Contact Charles E Holmes:

To benefit from Charles E Holmes’s expertise and to experience exceptional real estate services in Stuart, Florida, don’t hesitate to reach out. He is ready to assist you with all your real estate needs.

Uncategorized • July 21, 2022

Seller Strategies – Your Buyers Want Repairs After Inspection?

by Charles "Charlie" Holmes

Seller Strategies – Your Buyers Want Repairs After Inspection?

July 20, 2022|Condominiums, Financing, HOAs, Real Estate

All residential real estate contracts used in Florida include a provision for buyers to have a Home Inspection performed within a certain time frame after their offer is accepted by the seller. The contract also specifies what buyers and sellers can or must do based on the inspection report’s findings.

This article is part of an occasional series on general negotiation strategies that sellers and buyers may want to use in the purchase and sale of Florida residential real estate. In an earlier edition, we discussed how the choice of using either a Standard or As-Is real estate contract guides a transaction, and how that choice affects negotiations. A link to that article is included a bit farther down this page.

The most effective strategies start with thinking ahead and being well-prepared. Therefore, it is key to already be aware of any possible condition items that buyers might want addressed after they have a Home Inspection performed on your house or condo.

When selling Florida real estate, Preparation is without question the most important part of a smooth and financially rewarding transaction. Use the 3 suggestions below as starting points for developing your own strategy when selling your property and responding to offers.

Strategy 1 – Have a thorough Home Inspection performed by a licensed inspector before listing your house or condo for sale

By knowing the current condition of your property and having advance notice of any items that may show up on a buyer’s inspection, you can decide whether you want to repair/replace an item before offering your property for sale, or be ready to offer the buyer a credit, or do nothing and wait for the buyer to ask for something. Depending on what an inspection issue might be, any of those choices could be the right one.

If you feel offering a credit might be easier, be sure to have written estimates from licensed contractors and suppliers ready for negotiation discussions with buyers. Having your own Home Inspection report also provides the information you need when deciding whether you prefer offers to be submitted on a Standard or As-Is contract.

Experience has shown that money spent on a pre-listing Home Inspection (along with any repairs based on that inspection) helps sellers receive higher sale prices because buyers are more comfortable when they have better insight to property condition. Uncertainty about condition often causes buyers to make lower offers with more contingencies.

Even when a seller provides a recent Home Inspection report from a reputable company, buyers are strongly advised to have their own inspections performed. This is a very important part of buyers performing their own independent due diligence. Also, different home inspectors often notice different things when inspecting the same house or condo.

A pre-listing Home Inspection at the seller’s expense is not required in Florida and if you do get one, there is no requirement to share it with prospective buyers. It is being mentioned here as a way for sellers to better understand their property’s current physical condition before offering it for sale to the public. However, be fully aware of Florida’s Sellers Disclosure laws.

Attorneys tell us that “Sellers are obligated by Florida law to disclose all known facts or conditions that materially affect the value of the Property which are not readily observable by a buyer.”

Using a written, signed Sellers Disclosure form is considered the best way for sellers to handle their disclosure responsibility. Concealing known problems or deficiencies has caused quite a few costly civil lawsuits over the years.

Strategy 2 – Know how a Standard contract defines Defective Inspection Items

Defective Inspection Items are specific defects showing up on the Buyer’s Home Inspection that the Seller is obligated and required by a Standard contract to fix or replace. The contract itself lists the items and conditions under which something noted on an inspection report becomes a Defective Inspection Item.

A closely related part of this strategy is understanding the difference between Working condition and a Cosmetic blemish that does not affect an item’s function. It is also important to realize that Age by itself does not necessarily create a sellers obligation to fix or replace an item.

Example – a non-leaking 14 year old water heater that still produces hot water is neither a Defective Inspection Item nor a Working condition deficiency. It may not look shiny white anymore, though that is only a Cosmetic issue. Just being “older” does not make something defective, even when the buyer wants a new one.

Now is a great time to review that earlier article on Standard and As-Is contracts. Here is a direct link: Standard or As-Is Real Estate Contract? Thoughts for Sellers (thefloridarealestateblog.com).

Strategy 3 – Don’t be afraid to say NO

Unless your house or condo has been on the market for an unreasonably long time, politely saying NO (at least initially) can protect you from agreeing to something that either:

The contract doesn’t require you to fix
Will cost you more than it should

Of course when you have accepted a written offer, you want to reach closing as quickly and smoothly as possible under what is specified in the contract. Purchase negotiations are not a contest between seller and buyer. When you allow ego and competition to enter negotiations, the end result always suffers. You can look out for your own interests while still allowing the other side to look after theirs. The best deals are when both sides are comfortable and satisfied with how the sale progressed and closed.

Here is another point that may be useful under Strategy 3 – if you decide to accept an offer lower than your realistic and market-supported asking price, and a buyer still asks for repair or replacement of certain items (or further money concessions / credits), understand that the lower price you accepted often compensates the buyer for any condition issues that may turn up on a Home Inspection report. When this happens, let the buyer know that they already received a purchase price discount that they can use for repairs and new items after closing.

Important – This applies to repair/replacement requests that are NOT Defective Inspection Items as identified on a Standard contract. And it definitely applies to anything buyers request under an As-Is contract. Under an As-Is contract, buyers can ask for anything they want, though sellers are not obligated to fix or replace those requested items.

A Standard contract doesn’t care about any difference between asking and accepted prices, so if a contract-defined Defective Inspection Item shows up on an inspection report, the seller is obligated to address it without regard to sale price or any concessions already made. The point here is – see Strategy 2 above!

Whichever contract is being used, declining buyer requests for repairs doesn’t have to be a flat NO, slamming the door on their buying your house or condo. When you have prepared yourself as a seller with good information (using Strategies 1 & 2), you may decide to cover one buyer request, offer to do a little less than requested on another, and fully decline to address another, depending on whether those requests are reasonable depending on the contract’s guidelines and definitions.

It is also very important for both sellers and buyers to be aware of the contract’s time limitations for requesting repairs. These are found in the Inspections and Due Diligence sections of a Standard contract. And remember that Defective Inspection Items must be addressed even without a buyer request.

A Florida-licensed real estate Attorney is your best source for guidance on the specific details of your transaction. Real estate agents are not allowed to interpret or offer advice on what is contained in legal documents such as contracts.

Being thoroughly prepared as a seller, along with knowing your rights and obligations under the contract being used are the best ways to protect your interests while still keeping buyers engaged and enthusiastic about buying your Florida house or condo.

Feel free to forward this article to anyone you’d like. And be sure to check out the All Posts page for more articles on how real estate really works in Florida.

Florida Lifestyles • June 8, 2022

Market Update

by Charles "Charlie" Holmes

Rising Interest Rates – So What Happens Next?

By Swapna Venugopal Ramaswamy

The last time interest rates rose, a rush of sellers listed their home. But that hasn’t happened, in part because likely move-up buyers don’t want a higher-rate mortgage.

NEW YORK – Homebuyers flooded the housing market in the first quarter of the year as they tried mightily to beat the expected mortgage rate hikes – resulting in one of the most competitive quarters since the onset of the pandemic. But there are signs that point to more favorable negotiating conditions for homebuyers in the months ahead, experts say.

Home prices rose by 21% in March from a year ago, the strongest March year-over-year increase on record, according to the S&P CoreLogic Case-Shiller Home Price Index, which developed the series almost three decades ago.

About 7 in 10 homes sold for more than the asking price.

“Homebuyer frenzy reached another new high as eager buyers pursued last-ditch efforts to secure a home purchase before the mortgage rate surge,” says Selma Hepp, deputy chief economist for CoreLogic.

The median existing single-family home price was $397,600 in April, up 14.8% from April 2021

But there are indications that the Federal Reserve rate increases to control inflation are beginning to influence the housing market, experts say. And they expect a deceleration in the growth rate of U.S. home prices and better market conditions for those looking to buy homes.

The median existing-home sales price increased at a slower year-over-year pace of 14.8% to $391,200 in April, according to the National Association of Realtors. It grew by 19% from April 2020 to April 2021.

The Fed began raising interest rates in March to control inflation for the first time since slashing them to zero in March 2020. The 30-year fixed mortgage rate increased from 3.7% in the beginning of March to 5.1% for the week ending May 26.

Fed rate hikes

A month or two into the rate increases, the effects on the housing market were already showing. For instance, the share of listings with price drops reached a 21/2-year high in May, according to Redfin.

About 1 in 5 sellers, or 19% of listings, dropped their price in the four weeks ending on May 22, up from 13% a month earlier and 9.8% a year ago.

Touring activity from the first week of January through May 22 was 29 percentage points behind the same period last year.

“We’re seeing more and more buyers pull back, whether that’s a decline in people searching for homes, a decline in people touring homes, getting mortgage applications approved for buying a home – pretty much all of these leading indicators show a continuation of buyers reacting to the higher interest rates,” says Taylor Marr, deputy chief economist for Redfin.

In 2018, when the market began cooling as a result of higher interest rates and homes were taking longer to sell and prices had to drop to meet buyers’ budgets, new listings increased, Marr says.

“We saw more sellers rush to put their homes for sale,” he says.

Unlike 2018, however, fewer homes are hitting the market now.

“They’re on par with a year ago, but we’re not really seeing a growth of supply hit the market,” he says.

Lack of move-up buyers

One big reason is homeowners who have locked in low mortgage rates. About half (51%) of U.S. homeowners with mortgages have a mortgage rate under 4% – substantially below today’s 5%, according to a Redfin analysis of Federal Housing Finance Agency data from the fourth quarter of 2021. The report covers roughly 80 million owner-occupied U.S. households, of which about two-thirds (62%) have an outstanding mortgage.

“That disincentivizes move-up buyers who might decide they’re going to keep their current mortgage because the interest rate is so low,” Marr says.

The rate of increase in interest rates was also not as sudden or pronounced in 2018 as it is now (.5% vs .8%), Marr adds.

While house prices continued their climb in March, there are signs we are at or near an inflection point in the housing market, says PNC senior economist Abbey Omodunbi.

Housing starts decreased in March and April, and the number of existing-home sales, which account for about 90% of total home sales, declined during the same time period and is at the lowest level since June 2020.

Single-family home sales decreased to 4.99 million in April, down 2.5% from 5.12 million in March and down 4.8% from one year ago, according to the National Association of Realtors.

In May, homebuilder sentiment, measured by the National Association of Homebuilders, was at the lowest point since June 2020. As the Federal Reserve focuses on slowing demand and reducing inflation, long-term interest rates probably will continue to rise, which will contribute to slower house price growth over the next two years, Omodunbi says.

What does this all mean for those trying to enter the housing market?

A ‘balanced housing market’

The Fed’s actions to temper inflation appear to be normalizing the market and cooling demand, says Steve Reich, chief operating officer of Finance of America Mortgage.

For the week ending May 27, mortgage applications decreased 2.3% from one week earlier and 14% from the same week one year ago, according to the Mortgage Bankers Association.

“I believe price appreciation is likely to become more gradual over the summer and throughout the duration of the year,” he says. “Inventory has also been on the rise since reaching a low point this January, and this may help ease price appreciation further in some markets.”

That is good news for buyers, Marr says.

“The market’s kind of rebalancing toward a more balanced market where buyers have a little bit more power and sellers have a little bit less pricing power.”

Florida Lifestyles • May 21, 2022

Ultimate in the Florida Keys Lifestyle

by Charles "Charlie" Holmes

Looking for the Florida Keys Lifestyles

Contact Charles E Holmes PA 772-834-9726

BRAND NEW CBC Construction! 15,000+ square feet lot with dock with a new construction home with a pool! Complete Florida Keys Living at its best! Surrounded by multi-million dollar homes, this is the perfect time to get this under contract. This is perfect as a vacation rental, a primary residence or second home. With a gracious primary suite that includes walk-in closet and private bath with double vanity and walk in shower, you can enjoy entertaining with an additional Jr. primary suite, two additional bedrooms, and another full bath. A four bedroom, three bath, sparkling house that includes all impact doors and windows in CBC construction. Enjoy the outdoors pool side with your boat just feet away, ready to go. Photos shown are of a previously built model and furnishings are not included in purchase. This home buyer can select all finishes, and includes luxury standards. Completion with an estimated final for early 2023. Available for private consultations, call today for yours!

Florida Lifestyles • March 31, 2022

This Is the Best Place in America to Own a Beach House

by Charles "Charlie" Holmes

The price of residential real estate has skyrocketed in the past two years. No single reason accounts for this, but several have contributed.

The employment and compensation of most middle and upper-class Americans remained fairly high through the two years of the COVID-19 pandemic. Wealth has been helped by a soaring stock market.

Tens of thousands of people have decided to relocate inland from expensive coastal cities. Home prices in New York and San Francisco are often three times the national average. Many small cities also have a perceived better quality of life. Ironically, the rush to many of these smaller cities has caused their residential real estate prices to surge.

Low mortgage rates also have contributed to residential purchase activity, although it appears the period of low rates has ended.

Finally, the COVID-19 pandemic caused many companies to shutter offices and ask employees to work from home. Some of these people will not return to traditional offices, which means they can live where they please.

Some Americans, many of them well-to-do, have second homes. They may use them as weekend homes and for vacations. Others use them to make money via rentals. Some split time and use them for both.

The just-released Best Places to Buy a Beach House 2022 research report, from vacation rental manager Vacasa, used data from the home price website Redfin. Vacasa used its own data to calculate return on investment for people who rent their homes. The report only includes places that are on a body of water.

The report points out:

According to a recent report from Redfin, buyer demand for second homes was up 87% at the start of 2022 from pre-pandemic levels, and while other areas of the real estate market may begin to normalize, second home sales are expected to remain steady.

The final list was determined largely by the cap rate, which is the rate of return on real estate investments.

The list is topped by Gulf Shores, Alabama, which is on the Gulf of Mexico between Mobile and Pensacola. These are the 10 best cities to own a vacation home:

Market	Cap Rate	Median Sale Price
Gulf Shores, Ala.	10.2%	$402,905
Corolla, N.C.	9.5%	$608,953
Navarre Beach, Fla.	6.6%	$382,392
New Buffalo, Mich.	6.6%	$569,873
Daytona Beach, Fla.	6.5%	$247,960
Galveston, Texas	6.4%	$340,559
Hatteras Island, N.C.	6.4%	$482,447
Rockaway Beach, Ore.	6.1%	$384,152
Port St. Joe, Fla.	6.1%	$360,721
Lahaina, Hawaii	5.8%	$725,000

Click here to see in which cities buying a home is most expensive.

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Florida Lifestyles • March 31, 2022

Cheapest city to buy a home

by Charles "Charlie" Holmes

Home costs have risen by record amounts in the past two years. The carefully followed S&P CoreLogic Case-Shiller Indices showed that home prices rose 18.8% in December nationwide, compared with the same month in 2020. In three cities, the figure was above 25%: Phoenix (32.5%), Tampa (29.4%) and Miami (27.3%). In some smaller cities that have become popular, prices have increased by 50% in two years. This has sometimes made home values too high for long-time residents of these metropolitan areas.

One reason for the increase is that home prices (and the general cost of living) is high in large coastal cities like San Francisco and New York. Home prices can be three times the national average. Low mortgage rates also have helped home buyers, although these have risen recently. The exodus to smaller cities received a boost as companies have shuttered offices due to the COVID-19 pandemic. Millions of people currently work from home. In some cases, their companies will never ask them to return. They can work from home permanently and live almost anywhere they want to.

Only a few cities continue to have “affordable” home prices. Some are old industrial cities that have lost population as the companies that built them have relocated or disappeared. Realtor.com’s recently released As Home Prices Soar, Here Are the Cheapest Places in America to Buy a Home report looked at 250 cities to find those with the lowest median home prices. Only one metro per state was selected to promote “diversity.”

Hannah Jones, economic research analyst for Realtor.com, pointed out that “These areas generally have lower median incomes and lower costs of living, helping keep home prices lower.” These can trigger high poverty, low education and high crime. In turn, that makes these cities less attractive destinations.

The first city on the list has been blighted. Peoria has a median home price of $98,000. The report says, “House hunters can find places starting at $30,000, including this historic four-bedroom asking $34,900.” They also pointed out that the house would need work to be habitable. The population of Peoria has dropped sharply since 1970. The median household income is just below $37,000, compared to a national figure of over $65,000.

These are the 10 cheapest cities to buy a home in and their median list prices:

Peoria, Ill. ($98,000) Terre Haute, Ind. ($104,900) Saginaw, Mich. ($112,200) Youngstown, Ohio ($118,000) Davenport, Iowa ($127,400) Erie, Pa. ($148,400) Charleston, W.V. ($148,900) Utica, N.Y. ($169,450) Macon, Ga. ($174,950) Topeka, Kan. ($184,950)

Click here to see in which cities buying a home is most expensive.

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Florida Lifestyles • March 31, 2022

This Is The Best Place To Retire In Florida

by Charles "Charlie" Holmes

Florida State

WHYI Y100

19 days ago

https://img.particlenews.com/image.php?url=4fOIKC_0ecZvHc000 — Photo: Getty Images

Retirement is a big milestone in someone’s life, marking the end of working life or raising a family. For something that important, finding the right place to retire is crucial.

Much like looking for a new school or moving to a new area, many factors go into finding the perfect retirement location, including housing prices , weather and climate, cost of living, health care costs, tax rates, crime, and much more. To make the process easier, especially those looking to settle down for good in Florida, Stacker may have the answer.

The website found the best places to retire in the Sunshine State using housing prices as their main indicator. According to Stacker , the No. 1 retirement place is…

Pelican Bay!

Located in Collier County, the median home value is $983,600 while the median rent is $1,479. Over 94% of residents own their homes.

Here are the Top 10 places to retire in Florida plus their median household income (MHI), according to Stacker :

Pelican Bay (MHI: $141,856)
South Palm Beach (MHI: $60,500)
Highland Beach (MHI: $115,219)
Indian River Shores (MHI: $118,669)
Gulf Stream (MHI: $216,250)
Hillsboro Beach (MHI: $73,558)
Siesta Key (MHI: $102,143)
Jensen Beach (MHI: $54,778)
Cypress Lake (MHI: $50,945)
Cape Canaveral (MHI: $54,653)

Click here to check out Stacker ‘s full report

Florida Lifestyles • March 31, 2022

Stuart rejects 77-townhome community during housing crisis

by Charles "Charlie" Holmes

Stuart rejects 77-townhome community during housing crisis

By Derek Lowe

WPTV West Palm Beach

2 hours ago

During a time when the cost of housing is at an all-time high, the city of Stuart has decided to deny a new housing development comprised of 77 new townhomes.

The proposed Silverthorn community is located on a 10-acre property on the corner of Indian and Commerce streets.

According to city leaders, the land is currently designated as commercial use.

Mayor Merritt Matheson said the City Commission decided to vote down the proposal of switching the land to residential use for builder Meritage Homes.

“I have to look at more than just housing,” said Matheson. “That is one of so, the scales I have to look at. I have to consider how it’s going to impact our police, our fire, our schools, our traffic, the environment and, most importantly, the quality of life for current residents living here.”

Matheson said the city currently has about 16,500 residents and that 3,000 new housing units are already under construction throughout the city limits.

He said the city is waiting to see how those new units affect the housing demand before deciding to switch any commercial land to residential.

“Growth is something that is always going to be there at your doorstep and wanting to happen,” said Matheson. “We in the city of Stuart. We’re not opposed to growth. We support smart growth. But from residents, we’re hearing to slow down.”

Matheson said other land parcels throughout the city not as large are available for residential development.

Builder Meritage Homes said the property would serve as an excellent location for housing for employees working in the city’s new innovation district nearby.

The denial was given by the city commission during the application’s first reading.

Meritage Homes could return before the commission for a second and final reading, however, with the vote to deny switching the future land use, it’s unknown if that will occur at this time.

Florida Lifestyles • March 31, 2022

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

by Charles "Charlie" Holmes

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year:

Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed those projections.

Sam Khater, Chief Economist at Freddie Mac, explained in a press release last week:

“This week, the 30-year fixed-rate mortgage increased by more than a quarter of a percent as mortgage rates across all loan types continued to move up. Rising inflation, escalating geopolitical uncertainty and the Federal Reserve’s actions are driving rates higher and weakening consumers’ purchasing power.”

Where Are Mortgage Rates Going from Here?

In a recent article by Bankrate, several industry experts weighed in on where rates might be headed going forward. Here are some of their forecasts:

Greg McBride, Chief Financial Analyst, Bankrate:

“With inflation figures continuing to surprise to the upside, mortgage rates will remain above 4.0% on the 30-year fixed.”

Nadia Evangelou, Senior Economist and Director of Forecasting, National Association of Realtors (NAR):

“While higher short-term interest rates will push up mortgage rates, I expect some of this impact to be mitigated eventually through lower inflation. Thus, I expect the 30-year fixed mortgage rate to continue to rise, although we aren’t likely to see the big jumps that occurred over the past few weeks.”

Len Kiefer, Deputy Chief Economist, Freddie Mac:

“Mortgage rates are likely to continue to move higher throughout the balance of 2022, although the pace of rate increases is likely to moderate.”

In a recent realtor.com article, another expert adds to the conversation:

Danielle Hale, Chief Economist, realtor.com:

“. . . As markets digest the Fed’s updated economic projections, I anticipate a continued increase in mortgage rates over the next several months. . . .”

What Does This Mean for You if You’re Looking To Buy a Home?

With both mortgage rates and home values expected to increase throughout the year, it would be better to buy sooner rather than later if you’re able. That’s because it’ll cost you more the longer you wait. But, there is a possible silver lining to buying a home right now. While you’ll be paying a higher price and a higher mortgage rate than you would have last year, rising prices do have a long-term benefit once you buy.

If you purchase a home today valued at $400,000 and put 10% down, you would be taking out a $360,000 mortgage. According to mortgagecalculator.net, at a 4.42% fixed mortgage rate, your mortgage payment would be $1,807 a month (this does not include insurance, taxes, and other fees because those vary by location).

Now, let’s put that mortgage payment into a new perspective based on the substantial growth in equity that comes with the escalation in home prices. Every quarter, Pulsenomics surveys a panel of over 100 economists, investment strategists, and housing market analysts about their expectations for future home prices in the United States. Last week, Pulsenomics released their latest Home Price Expectation Survey. The survey reveals that the average of the experts’ forecasts calls for a 9% increase in home values in 2022.

Based on those projections, a $400,000 house you buy today could be valued at $436,000 by this time next year. If you break that down, that means the equity in your home would increase by $3,000 a month over that period. That’s greater than the estimated monthly payment above. Granted, the increase in your net worth is tied to the home, but it is one way to put the home price appreciation to use in a way that benefits you.

Bottom Line

Paying a higher price for a home and a higher mortgage rate can be a difficult pill to swallow. However, waiting will just cost you more. If you’re ready, willing, and able to buy a home, now will be a better time than a year, or even six months from now. Connect with a real estate professional to begin the process today.

Charles E Holmes – Accomplished Real Estate Agent in Stuart, Florida

Seller Strategies – Your Buyers Want Repairs After Inspection?

Seller Strategies – Your Buyers Want Repairs After Inspection?

Market Update