The new law was signed by Florida's Governor Rick Scott on Friday (June 7, 2013) and went directly into effect.
The new law allows lenders to query the court as to why a final foreclosure order has not been entered. Furthermore, condominium associations and homeowners associations can ask the courts to expedite the foreclosure process under certain circumstances.
Lenders must now provide details showing the entity owns the loan before foreclosing on the property. There are protections in the law for innocent parties who purchased a property where a former owner may have claim to the property.
Perhaps the most pertinent part of the law is deficiency judgments in foreclosure actions can be sought for only one year, down from five years. The deficiency judgment is the difference between the proceeds from the home and what is owed on the mortgage note.
I believe it is preferable for distressed homeowners to complete a short sale when compared to a foreclosure. (Please see previous entries on the subject of short sales by searching short sale in the label section of the Blog).
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Thursday, June 13, 2013
Wednesday, June 5, 2013
Case Shiller House Index March 2013 Shows Continued Rise In US Housing Prices
The recovery in US housing prices continues in March 2013, according to the Case-Shiller Home Price Index. The US composite shows year-over-year growth of about 10% to 11% for March 2013; sequential growth as 1.4%.
The South Florida market saw prices move up 10.7% on an annual basis in March 2013, according to the Case-Shiller Home Price Index; sequentially, prices increased by 1.2%. These statistics were more-or-less in line with the national averages by measure of the Case-Shiller Index.
I think the following is an interesting quote from the report:
The average home price was back to the mid-2003 level in March 2103, according to the Case-Shiller report. The decline for the US composites are still off about 28% to 29% from the peak value in June/July 2006.
Other areas of interest:
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The South Florida market saw prices move up 10.7% on an annual basis in March 2013, according to the Case-Shiller Home Price Index; sequentially, prices increased by 1.2%. These statistics were more-or-less in line with the national averages by measure of the Case-Shiller Index.
I think the following is an interesting quote from the report:
“Other housing market data reported in recent weeks
confirm these strong trends: housing starts and permits, sales of new home and
existing homes continue to trend higher. At the same time, the larger than
usual share of multi-family housing, a large number of homes still in some
stage of foreclosure and buying-to-rent by investors suggest that the housing
recovery is not complete.”
The average home price was back to the mid-2003 level in March 2103, according to the Case-Shiller report. The decline for the US composites are still off about 28% to 29% from the peak value in June/July 2006.
Other areas of interest:
| Mar-13 | Monthly | Sequential | Annual |
| Metropolitan Area | Level | Change | Change |
| Boston | 155.71 | 1.20% | 6.70% |
| Chicago | 110.73 | 0.00% | 7.80% |
| Miami | 155.89 | 1.20% | 10.70% |
| Minneapolis | 123.15 | -1.10% | 12.50% |
| New York | 161.54 | -0.40% | 2.60% |
| Tampa | 139.91 | 2.60% | 11.80% |
| Composite 10 | 161.48 | 1.40% | 10.30% |
| Composite 20 | 148.65 | 1.40% | 10.90% |
| Source: | |||
| S&P Indices | |||
| Firserv |
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Friday, May 24, 2013
Palm Beach County Median Home Prices Up More Than 20% In April 2013
Avid readers of this blog know there is a scarcity of homes in the South Florida housing market and there are bidding wars. However, most are unaware unless they have been in the market to buy or sell a home in the market recently. The Sun-Sentinel ran an article on the front page of the newspaper yesterday declaring "bidding wars, shortage of houses for sale." The word is beginning to hit the mainstream media outlets. This inturn could lead to more of a frenzy.
The median price for existing single family homes in Palm Beach rose by 26% in April 2013 from a year ago; the median price was $265,000. April was one of the busiest months for sales since 2007, according to the local Realtors board.
It is also being reported that as prices begin moving up quickly, it is spurring a sense of urgency by potential buyers. The article sites an agent in Broward County who put in at least ten offers for a client before finally getting a completed deal. The agent is quoted as saying, "this reminds me of 2005... the bubble is coming."
Even though new listings rose 9% from a year ago, Palm Beach County's inventory levels are still 43% below the previous year, according to the Sun-Sentinel article.
In the current market I advise my customers to be prepared to act quickly. This means having proof of funds for cash deals and pre-qualification letters for offers that are to be financed. On the flip side, for my seller customers I remind them to be realistic and that the current trends may not last indefinitely.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The median price for existing single family homes in Palm Beach rose by 26% in April 2013 from a year ago; the median price was $265,000. April was one of the busiest months for sales since 2007, according to the local Realtors board.
It is also being reported that as prices begin moving up quickly, it is spurring a sense of urgency by potential buyers. The article sites an agent in Broward County who put in at least ten offers for a client before finally getting a completed deal. The agent is quoted as saying, "this reminds me of 2005... the bubble is coming."
Even though new listings rose 9% from a year ago, Palm Beach County's inventory levels are still 43% below the previous year, according to the Sun-Sentinel article.
In the current market I advise my customers to be prepared to act quickly. This means having proof of funds for cash deals and pre-qualification letters for offers that are to be financed. On the flip side, for my seller customers I remind them to be realistic and that the current trends may not last indefinitely.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Saturday, May 18, 2013
New Home Prices On The Rise
New homes are projected to increase in price as a result of increased costs for land, materials and labor.
Pulte Homes has increased its prices by 10%, on average, in the first quarter of 2013, as an example.
Also, some builders are also slowly introducing new homes onto the market in order to tamp down the supply of new homes.
In the current market, new construction and home re-sales have been selling quickly with prices increasing.
I can help you find a new construction home as builders cooperate with real estate professionals. Agents are invited for special tours and are given information about the new homes, new community and plans for the future.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Pulte Homes has increased its prices by 10%, on average, in the first quarter of 2013, as an example.
Also, some builders are also slowly introducing new homes onto the market in order to tamp down the supply of new homes.
In the current market, new construction and home re-sales have been selling quickly with prices increasing.
I can help you find a new construction home as builders cooperate with real estate professionals. Agents are invited for special tours and are given information about the new homes, new community and plans for the future.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Wednesday, May 8, 2013
Palm Beach County And Broward County Home Prices Rise In March 2013
The housing market in South Florida remains on an upward price trend.
The Realtors Association of the Palm Beaches reported a 28% year-over-year increase in the median price of existing homes in March 2013. The median price of an existing home in Palm Beach County was $249,894 in March 2013.
The Greater Fort Lauderdale Realtors reported a 26% year-over-year increase, to $242,500 for the median price of existing homes in Broward County during March 2013.
As I have mentioned before, homes that are on the market are selling quickly. If you are interested in buying a home that is on the market, I suggest you do not hesitate to make an offer. Those who are thinking of selling their homes may want to act now as the South Florida housing market is more favorable than it was a year ago.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The Realtors Association of the Palm Beaches reported a 28% year-over-year increase in the median price of existing homes in March 2013. The median price of an existing home in Palm Beach County was $249,894 in March 2013.
The Greater Fort Lauderdale Realtors reported a 26% year-over-year increase, to $242,500 for the median price of existing homes in Broward County during March 2013.
As I have mentioned before, homes that are on the market are selling quickly. If you are interested in buying a home that is on the market, I suggest you do not hesitate to make an offer. Those who are thinking of selling their homes may want to act now as the South Florida housing market is more favorable than it was a year ago.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Thursday, May 2, 2013
US Home Prices Continue to Climb, According to the Case Shiller Index
The US housing market continues to show solid growth, according to the Case Shiller Home Price Index. Home prices increased by about 9.0% in February 2013 over February 2012; home prices were up about 0.4% on a sequential basis during February 2013, according to the Case Shiller Home Price Index.
The South Florida market had an annual increase of 10.4% on a year-over-year basis in February 2013; this is slightly above the national average. The sequential uptick was about 0.3% in February 2013; this is relatively inline with the national average.
I found the following quote from the Case Shiller report interesting: "Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy. The 2013 first quarter GDP report shows that residential investment accelerated from the 2012 fourth quarter and made a positive contribution to growth. One question is the mix of single family and apartments; housing starts data show a larger than usual share is apartments."
As I have been stating, there continues to be a shortage of homes on the market in many of the South Florida communities. The dearth of homes is pushing up prices and making for quick sales turnaround times.
Areas of interest are as follows:
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The South Florida market had an annual increase of 10.4% on a year-over-year basis in February 2013; this is slightly above the national average. The sequential uptick was about 0.3% in February 2013; this is relatively inline with the national average.
I found the following quote from the Case Shiller report interesting: "Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy. The 2013 first quarter GDP report shows that residential investment accelerated from the 2012 fourth quarter and made a positive contribution to growth. One question is the mix of single family and apartments; housing starts data show a larger than usual share is apartments."
As I have been stating, there continues to be a shortage of homes on the market in many of the South Florida communities. The dearth of homes is pushing up prices and making for quick sales turnaround times.
Areas of interest are as follows:
| Feb-13 | Monthly | Sequential | Annual |
| Metropolitan Area | Level | Change | Change |
| Boston | 153.89 | 0.10% | 5.20% |
| Chicago | 110.72 | -0.80% | 5.10% |
| Miami | 153.97 | 0.30% | 10.40% |
| Minneapolis | 123.81 | -0.90% | 12.00% |
| New York | 162 | 0.40% | 1.90% |
| Tampa | 136.33 | 0.60% | 10.00% |
| Composite 10 | 159.24 | 0.40% | 8.60% |
| Composite 20 | 146.57 | 0.30% | 9.30% |
| Source: | |||
| S&P Indices | |||
| Firserv |
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Sunday, April 14, 2013
Will Mortgage Rates Rise? What Effect Will Rising Mortgage Rates Have?
Banks seem to be lending money for home purchases to a very select group of people. This means only a small percentage of people can benefit from the 3.0%+ mortgage rates being offered. What reason could the banks have?
The lenders seem to be concerned about potential issues with their balance sheets if interest rates rise. Should interest rates rise to 5.0% or higher, the banks might be forced to write down the value of existing loans on homes. As such, the banks may need to raise funds in order to have adequate reserves and keep their leverage ratios in compliance with mandates.
For the banks the solution seems to be lend little and to only the most creditworthy. Should rates rise, they would not have many lower interest rate loans on the books and the prospect for defaults would be less as a result of lending to only to those with the highest levels of creditworthiness.
Eventually rates will increase; the Federal Reserve cannot hold down rates forever. Therefore, if you are among the lucky few who can get a mortgage at the favorable rates being offered today, you might want to take action. Whether that means refinancing or trading up or down to a new home, it might be a good time to take action.
I can help you with both finding the right home, selling your current home and putting you in touch with mortgage professionals that I know-- all with no obligation to you. I have relationships with mortgage professionals who are willing to work with my customers with no obligation. Please contact me for all of your questions, whether they be related to financing, the housing market, or even how close a shopping center is to a certain community.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
The lenders seem to be concerned about potential issues with their balance sheets if interest rates rise. Should interest rates rise to 5.0% or higher, the banks might be forced to write down the value of existing loans on homes. As such, the banks may need to raise funds in order to have adequate reserves and keep their leverage ratios in compliance with mandates.
For the banks the solution seems to be lend little and to only the most creditworthy. Should rates rise, they would not have many lower interest rate loans on the books and the prospect for defaults would be less as a result of lending to only to those with the highest levels of creditworthiness.
Eventually rates will increase; the Federal Reserve cannot hold down rates forever. Therefore, if you are among the lucky few who can get a mortgage at the favorable rates being offered today, you might want to take action. Whether that means refinancing or trading up or down to a new home, it might be a good time to take action.
I can help you with both finding the right home, selling your current home and putting you in touch with mortgage professionals that I know-- all with no obligation to you. I have relationships with mortgage professionals who are willing to work with my customers with no obligation. Please contact me for all of your questions, whether they be related to financing, the housing market, or even how close a shopping center is to a certain community.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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