mlsrealtor

Miami

Waiting to Buy a Home?

Waiting to Buy a Home?

You May Miss out on Low Interest Rates

In December, the Federal Reserve raised the key interest rate by a quarter-point to range of 0.25% to 0.5%, the first rate increase in nearly a decade. While some experts expect the Fed to raise rates gradually this year, some economists expect rates to increase three or four more times this year.Increases are anticipated to amount to a quarter-point each time, and when they do occur are subject to impact mortgage rates.2 What’s a homebuyer to do?

NOW IS THE TIME TO BUY!

While a quarter-point increase in interest  rates doesn’t seem like much, it could mean the difference of hundreds of dollars a month in your mortgage payment. This will depend on the price of your home, your interest rate, how much you are borrowing and the size of your down payment. This is money you could use to renovate, go on vacation or save for retirement.

 

WHAT SHOULD YOU DO NOW?

  • Get pre-qualified for a mortgage if you haven’t done so already. Getting pre-qualified means you can spring into action when you find the home you want to buy. We work with great lenders in our area. If you’re looking for a lender you can trust, let us know and we’ll be happy to connect you with someone from our network.
  • Narrow down your search criteria. What neighborhoods do you have your eye on? Do you want three or four bedrroms? Do you want a big yard or no yard at all? The list goes on and on. While buying a home is a process of selection, the more you know what you want, the better prepared you are to make the right decision.
  • Get hunting. If you’ve been passively house hunting online, now is the time to ramp up your search. Let us know what you are looking for and we’ll work with you to find a great home that meets your criteria.

 

 

 

Sources:
Buffini & Company
1. CNN Money, December 16, 2015
2. The Guardian,  January  6, 2016
3. Bankrate Mortgage Payment Calculator

New Listing on Lake Catalina

Own a piece of a Water Resort with concrete dock, boat ramp and private beach. Enjoy fishing, jet/water skiing and gorgeous sunrises and sunsets in the comfort of your backyard on exclusive Lake Catalina. This vintage 5/4  home  is ideal for a large or extended family. The house boasts a large (21×15) lake view family room with brick fireplace, built-in bookcases and party bar. Expansive 56 x 15 screened/roofed patio with serving bar great for entertainment with access from the family room, kitchen, dining room, and master bedroom. Split plan offers Master Suite with direct lake view plus 3 bedrooms and 2 baths on east side of house and 1 bedroom/1 bath plus inside laundry room on west side.  Over-sized 2 car garage, walk-in closets throughout, formal living and dining rooms, breakfast area, and plenty of natural light all on a 24,000 square foot lot with 95 feet of private waterfront.