Michelle Mendez's Blog
26
Jul

4 reasons why now is a good time to buy a home

4 reasons why now is a good time to buy a home

1. Interest rates are not going down anytime soon.  

Interest rates are currently hovering slightly below 4% for a 30-year fixed-rate mortgage. However, Zillow is expecting interest rates to rise to 5% by the end of the year, which is a huge difference from the nearly 4% interest rate we are currently experiencing.

Interest rates are not expected to stay at historic lows anytime in the near future, so buying a home sooner rather than later may mean that you may be able to save a few thousand dollars each year, depending on the amount of the mortgage you plan on taking out.

According to the most recent Freddie Mac Primary Mortgage Rate Survey, the 30-year fixed-rate mortgage averaged 4.02% with an average 0.7 point for the week ending June 25, 2015, up from last week when it averaged 4.00%. A year ago at this time, the 30-year FRM averaged 4.14%. 

2. There are cheaper mortgage insurance premiums in effect.

Due to there being cheaper mortgage insurance premiums, in some cases it may be a better idea to buy a home sooner due to all of the other benefits of buying now, instead of waiting later when housing may be more expensive and interest rates may be higher. Yes, saving for a larger down payment may be a great idea, but when you combine all of the factors in this article, you may actually find yourself losing money over the long-term.

Back in January, The Obama Administration directed, via executive action, the Federal Housing Administration to reduce annual mortgage insurance premiums by 50 basis points, from 1.35% to 0.85%.

3. Home values are expected to increase.

Home prices are said to be increasing and they are only expected to keep increasing in the future. Inventory is down and is expected to shrink further, homes are being sold above asking price, and interest rates are climbing. Also, according to Freddie Mac, home prices are expected to see a price gain of 4.5% in 2015 alone, and they’re expected to keep increasing in the following years.

The latest house price index from the Federal Housing Finance Agency said home prices slightly increased in April, inching up 0.3% from March.  

4. Rent prices are increasing.

Rent prices are increasing month after month in the United States. In many areas in the U.S., you may even find yourself paying a higher amount towards rent each month than you would if you had a monthly mortgage payment.

Soure: http://www.housingwire.com/articles/34316-reasons-why-now-is-a-good-time-to-buy-a-home

7
Jul

What you didn’t know about Real Estate

What you didn’t know about Real Estate...

 

“Real Estate” everybody has owned it or borrowed it one time or another. This doesn’t mean we understanding what is going on, when this process is taking place. Although many people think that they will save more money purchasing real estate without a professional, come to find out the hard way that, that is not the case. I know we can all say this has happen to us before, we think doing something ourselves would be better like cutting our hair, planning a wedding   or purchasing a home. I have heard horror stories of DIY’s epic fails.

 

I want you to know that I put in 12-15 hours everyday so that your real estate experience is a success with a professional by your side making sure your come out victorious at the end.

 Here are a few perk that only come with an real estate agent.

 

  1. Better Access/More Convenience

  2. Negotiating Is Tricky Business

  3. Contracts Can Be Hard To Handle

  4. Real Estate Agents Can’t Lie

  5. 5. Not Everyone Can Save Money



Michelle Mendez
SL3346899
Cell: 561 303-4562
eMail: Contact

Atlantic Florida Properties Inc
8461 Lake Worth Rd
Lake Worth, FL 33467
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