Skyrocketing interest rates put some much-needed pressure on the housing market after home prices hit record highs across the nation last year. While rates did level off through January, causing some homebuyers to re-enter the market, a recent uptick in rates suggests the market is going back to a standstill. That said, the nation’s overall housing supply remains limited, as those who purchased homes in...

Tax exemptions are powerful tools to help reduce your tax burden – whether for income taxes or property taxes. In Florida, you can use the Florida homestead tax exemption to reduce your yearly property taxes.  Let’s talk about what the homestead exemption is and how to use it. What is the Florida homestead exemption? Florida created the homestead exemption to help homeowners reduce their annual...

Hiring a real estate agent may seem like an added expense when selling or buying a home, but realtors play a vital role in the home-buying/selling process. An agent’s services are worth the commission to ensure your property is properly listed and marketed or to help you find a home that fits your budget and needs. And it’s tough to DIY selling your property or searching for a new home when you’re...

When thinking about buying a home, the biggest roadblock for most buyers is the down payment. How large of a down payment do you need? The answer is it depends on the loan, the lender, and your priorities. But don’t worry! The size of your home down payment may not be as big as you think.  So let’s talk about what a down payment is and how much you’ll need. What is a down payment? A down payment is...

ECONOMIC UPDATE FROM OUR PRESIDENT, JONATHAN CASTELEYN: ARMS or "Buy Downs" Picking Up Steam Adjustable rate mortgages are back although they are called something else these days. As mortgage interest rates rise, adjustable-rate mortgages (ARMs...now repackaged as the "Buy Down") become more popular, and they now make up 12.0 percent of total mortgage production, up from 3.3 percent in November...

ECONOMIC UPDATE FROM OUR PRESIDENT, JONATHAN CASTELEYN: No Turkey Like 2008 Because of Housing Equity First off, Happy Happy Thanksgiving to you and yours. There is always something to be thankful for, so hopefully your list is long. Despite our cautious articles over recent weeks, there is no 2008 Real Estate Market Crash coming solely because of one item...Housing Equity. Even if we see a drop in...

As you navigate through the process of buying a home and applying for a mortgage, you may have the opportunity to buy mortgage discount points. To understand if this is the right decision for you, let’s talk about what discount points are, how they work, and if they’re worth the cost. What are discount points on a mortgage?  Mortgage discount points allow you to lower the interest rate of your...

ECONOMIC UPDATE FROM OUR PRESIDENT, JONATHAN CASTELEYN: What Is Happening With 30 Year Mortgage Rates? Why Almost The Doubling Since The End Of 2021? The cost of locking in a mortgage is an important facet of the American Dream and a vital part of the real estate industry. Thus, the doubling of 30-year mortgage rates in 2022 (with a spike since June) is an important principle to understand. 30 year...

ECONOMIC UPDATE FROM OUR PRESIDENT, JONATHAN CASTELEYN: The inhumanity of Hurricanes on our infrastructure, communities, and the American family can not be overstated. With the recent tragedy of Ian hitting the West Coast of Florida, the real estate patch has been buzzing about what it means for displaced families, state budgets, and broader real estate prices. We will leave the really important...

One benefit of owning a home or property is your ability to build equity and use that to fund other projects – like a home renovation, pay off debt, or even send your kid to college. But what is equity and how does it work? Let’s do a quick dive into home equity. What is equity in a home or property?  Equity is the value YOU own in property, like a house. It’s the difference between what’s OWED...