exclusive buyer agent: 2024 Real Estate Forecast
- 01/02/24 12:19 AM
NAR economist Yun predicts home sales will begin to rise next year – by 13.5% compared to 2023, and the median home price will reach $389,500 – an increase of 0.9% from this year. “Metro markets in southern states will likely outperform others due to faster job increases, while markets in the Midwest will experience gains from being in the most affordable region.”
Yun expects rent prices to calm down further in 2024, which will hold down the consumer price index. He predicts foreclosure rates will stay at historically low levels in 2024, comprising less than 1% of all mortgages.
Read full article … (5 comments)
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exclusive buyer agent: Pit Falls of Post-Closing Occupancy Agreements
- 06/30/22 07:30 AM
More sellers want to stay in their home after closing, sometimes for weeks or months. In many cases, they want to do it for a fraction of the fair market rent or even for free. Agreeing to their request gives some buyers an edge over the competition in a bidding war, but it comes with risks.
The Post-Closing Occupancy Agreement allows the Seller to remain in the property for a designated period after the Buyer takes ownership of the property. As easy as a post- occupancy agreement sounds, there are serious implications arising out of a Seller requesting to remain in occupancy … (3 comments)
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exclusive buyer agent: Short Term Rentals As A Real Estate Investment
- 04/23/22 02:27 AM
Companies such as Airbnb and VRBO have brought the short-term rental market into the mainstream, making it easier than ever for investors to profit from real estate ownership. Rather than getting tied into long-term leases, property owners can capitalize on local demand for temporary and vacation rental housing. In recent years, the industry has transformed from a side-gig for homeowners looking to make extra income into a booming industry in many markets across the country.
Although considered great investments, these types of properties require proper management and good knowledge of a local real estate market.
A short-term rental is a property that has a lease … (6 comments)
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exclusive buyer agent: Home Design Trends for 2022
- 12/22/21 08:09 AM
Home design trends that are expected to loom large in 2022 are an evolution of what started during the pandemic when life was disrupted, and more homeowners started reevaluating their surroundings. In 2021, the pandemic slowly dissipated and then, almost overnight, a variant came charging back. Our homes and how we use them has massively evolved in the past 2 years as we embrace multifunctional spaces and a sense of retreat. With wellbeing, mindfulness, and sustainability as catalysts for change, home decor trends for 2022 focus on maximalism and nurturing natural connections.Read full article on Optima Properties' Blog
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exclusive buyer agent: What is an Appraisal Gap & Appraisal Gap Coverage Clause?
- 10/25/21 04:15 AM
An appraisal gap is the difference between the fair market value determined by the appraiser and the amount you agreed to pay for the home. An abnormally high number of homes across the United States are being appraised below their agreed-upon sales prices, causing some deals to implode.With home prices soaring in recent months, buyers often pay above asking price to win bidding wars. As a result, CoreLogic estimated that about 13% of appraisals came in below the contract price in August. A home appraisal is an evaluation and report performed by a licensed appraiser to determine a home’s … (3 comments)
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exclusive buyer agent: Questions to Ask Before Buying a Condo in South Florida
- 07/06/21 05:10 AM
The Florida Realtors Association asked construction specialists and attorneys about the questions we should all be asking about the condition of our living spaces and what kinds of updates they need as they deteriorate from heat, humidity, hurricanes and climate change.
Read Full Article on Optima Properties' Blog
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exclusive buyer agent: Pros and Cons of Using an Escalation Clause
- 04/25/21 03:01 PM
An escalation clause is language inserted into a purchase offer for a home that’s intended to make sure a buyer is the highest bidder. It’s typically used when a buyer and their real estate agent strongly believe a house will receive multiple offers.
An escalation clause states that the buyer will pay a certain amount of money above the highest offer the seller receives. It generally includes a ceiling cap to make sure the buyer doesn’t agree to pay more money than they can afford.
An escalation clause can be a powerful technique when used correctly, but unfortunately it is seldom used as … (1 comments)
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exclusive buyer agent: Things To Do The First Week After You Move
- 10/05/20 04:27 AM
Moving into your new dream house can be a daunting task. Between unpacking, cleaning and trying to find that stray roll of toilet paper, it may feel like you have lost your mind in a sea of bubble wrap. That is why I wanted to share simple things that you should do that first month of living in your new home. These items may feel like back burner tasks but really, they will help you sleep better at night in your new abode and make you feel like your new place is less like a new house and more like your new home.
Read the … (2 comments)
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exclusive buyer agent: Tips for Buying a Fixer-Upper
- 02/28/20 09:33 AM
Fixer-uppers have long had their fans. Some investors love the idea of making major repairs that increase a home’s value and then reselling the property for profit. Others want a low-priced starter home and don’t mind making gradual improvements over time. Buyers must do their due diligence so that they understand their total investment in the property and the cash requirements; since most repairs cannot be financed. An Exclusive Buyer Agent’s goal is to help buyers avoid making expensive mistakes.Read Full Article on Optima Properties' Blog
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exclusive buyer agent: Tips for Condo Buyers
- 02/07/20 02:59 AM
Buying a condo, short for condominium, can be a great way to dive into home ownership without worrying about much of the upkeep that comes with single-family homes and townhouses. Condo dwellers can also typically take advantage of shared amenities, plus having professional management to take care of building maintenance. However, condos aren’t for everyone so it’s best to figure out what your lifestyle and budget needs are first. Whether you are purchasing a vacation condo or making South Florida your permanent home, there are a few tips and tricks you should use to help make the condo buying decision easy and stress-free. Here … (3 comments)
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exclusive buyer agent: Top 10 Reasons to Use an Exclusive Buyers Agent
- 12/29/19 10:52 AM
Why Use an Exclusive Buyer's Agent When Purchasing a House?Buying a house is one of the most significant undertakings you'll make in your entire life. It's not simply about finding the right home for you and your family; more than anything, buying a house is about making the right financial investment on a long-term basis. Before you even put down your earnest money deposit, an exceptional buyer's agent will have been doing several things for you, including searching for the right property and starting the due diligence process when you do. There are a plethora of reasons you should turn to a buyer's … (3 comments)
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exclusive buyer agent: Reasons to Buyer in Florida Off Season
- 07/10/19 10:02 AM
It's cheaper, and sellers are serious! The off season is Florida is typically the end of Easter/Passover through Thanksgiving. Buying a home in the late Spring and Summer can be a thrifty move for homebuyers because it’s cheaper, sellers are ready, there are fewer choices, the buyer becomes the negotiator. There’s typically less competition during the off season, which means buyers can get more bang for their buck. The four months with the lightest sales are June through September which means less competition as well.Read full article on Optima Properties' Blog
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exclusive buyer agent: What Home Buyers Can Learn From a Seller’s Disclosure Statement
- 01/31/19 05:03 AM
Any responsible buyer wants to know everything about the home they’re buying before signing on the dotted line. After all, this is probably the biggest purchase you will ever make, so due diligence is a must. The majority of the real estate agents in Florida are Transactional Agents and do not owe the Buyer a fiduciary duty, An Exclusive Buyer Agent does and will work for the buyer to determine all the information known about the property and advise you on inspections, permit searches, etc. Reviewing the Seller's Disclosure is the first step in this process.
Read the full article on Optima Properties' Blog
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exclusive buyer agent: Tax Considerations When Deciding To Relocate
- 08/09/18 10:28 AM
Florida retains its ranking as one of the nation’s lowest-tax states, according to the latest study released by Florida TaxWatch. Out of 50 states, Florida ranks No. 42 in the average amount of money paid by residents. Florida TaxWatch findings: Floridians pay an average $5,679 per person in state and local taxes Residents pay an average $2,584 in state taxes – one of the least amounts nationwide. Only the residents of one other state pay less.
To read full article, please click on Optima Properties' Blog Edit
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exclusive buyer agent: How to Buy a Home When You Already Own One
- 03/15/17 06:41 AM
You've found the perfect new home for your family, but your current house hasn't sold yet. You can't afford to carry two mortgages, or maybe you were counting on money from your sale to help with the down payment and closing costs. Before you let that dream home slip away, consider these strategies to help bridge the transition:
To read the full article click here for Optima Properties' Blog
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exclusive buyer agent: Closing Costs: Who Pays What?
- 07/18/16 09:18 PM
This chart is a representation of the standard real estate closings. Different rules may apply by State or county within a State.
Visit Optima Properties Blog for full chart.
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exclusive buyer agent: How to Assess the Cost of a Real "Fixer-Upper"
- 05/02/16 08:32 PM
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 than you … (0 comments)
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exclusive buyer agent: What Homeowners Need To Know About Title Insurance
- 01/06/16 10:22 PM
Protecting your home investment:
A home is usually the largest single investment any of us will ever make. When you purchase a home, you will purchase several types of insurance coverage to protect your home and personal property. Homeowners insurance protects against loss from fire, theft or wind damage. Flood insurance protects against rising water. And a unique coverage known as title insurance protects against hidden title hazards that may threaten your financial investment in your home.
Oversimplified, title insurance insures a homebuyer — and a mortgage lender — against loss resulting from title defects, whether these defects are known or unknown at the … (1 comments)
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exclusive buyer agent: 2016 Real Estate Forecast
- 12/31/15 11:58 PM
Forecasts for the 2016 housing market are starting to trickle in; analysts are predicting that next year's market will be a picture of "moderate, but solid growth."
Several real estate pundits are predicting about a 3% year over year growth in housing prices with price increases being dampened by predictions of mortgage rates increasing to 4.65% for a 30-year fixed by the end of 2016.
To read the full article please click on link...Optima Properties' Blog
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exclusive buyer agent: Feds Lift Key Interest Rate
- 12/31/15 06:44 AM
The Federal Reserve is raising interest rates after seven years of record lows. But it's signaling that further rate hikes will likely be made slowly as the economy strengthens further and muted inflation rises.
The Fed's move to lift its key rate by a quarter-point to a range of 0.25 percent to 0.5 percent ends an extraordinary seven-year period of near-zero rates that began at the depths of the 2008 financial crisis. Consumers and businesses could now face modestly higher rates on some loans.
Read the full article by clicking here: Optima Properties' Blog
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NAR economist Yun predicts home sales will begin to rise next year – by 13.5% compared to 2023, and the median home price will reach $389,500 – an increase of 0.9% from this year. “Metro markets in southern states will likely outperform others due to faster job increases, while markets in the Midwest will experience gains from being in the most affordable region.”
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