Is it time to buy a house in Florida? September Real Estate Market Report click to play the video Many are asking me now “is it the right time to buy”. Some of my clients have stopped looking because: They got tired of getting beaten up by 30 other offers for each home they were looking at. The interest rate kept going up. Home prices seem to get out of reach for many of them. Because of what has been happening I think that we might have a sweet spot for all those … [Read more...]
LLPA | Loan-Level Pricing Adjustments
What Is LLPA | Loan-Level Pricing Adjustments and how does it effect you when you obtain a home mortgage? A loan-level pricing adjustment (LLPA) is a risk-based fee assessed to mortgage borrowers using a conventional mortgage. It varies by borrower, based on loan traits such as: loan-to-value (LTV), credit score, occupancy type, Purchase Rate and term refinance or Cash Out refinance and number of units in a home1, 2, 3, 4 units. Borrowers often pay LLPAs in the form of … [Read more...]
NAHB: Builder Confidence Dips on Hurricane Damage
Home builders had less confidence in housing market conditions in September. In the aftermath of Hurricanes Harvey and Irma, builders worried that ongoing shortages of construction labor and materials would worsen. NAHB Chairman Granger MacDonald said that concerns over labor and building materials were "intensified," but said that builder confidence was expected to return to high readings once rebuilding is underway. The National Association of Home Builders Housing Market Index dropped … [Read more...]
New Home Construction Seen As A Possible Solution To Pent Up Demand For Homes
Builder confidence in markets for new homes fell three points in February to a reading of 58. January's reading was revised upward to 61. Builders have repeatedly expressed concerns shortages of labor and lots for development, but continue to express confidence in future sales conditions. David Crowe, National Association of Home Builder's (NAHB) chief economist, said that builders are watching slowing economic trends, but also cited low mortgage rates, improving labor markets and pent-up demand … [Read more...]
Warmer Weather Brings In The Buyers, Is There Inventory?
After three consecutive months of decline, the S&P Case-Shiller 20-City Composite Index remained nearly unchanged in February. Year-over-year home prices rose by 12.90 percent in February as compared to 13.20 percent in January. 20 Percent Below Their 2006 Pre-recession Peak Analysts note that in spite of recent slowdowns in home prices, the year-over-year rates of home price growth remain close to peak price growth attained in 2006. National home prices remain approximately 20 percent below … [Read more...]
