Broward County, FL Real Estate News

By Kathy Hyatt ~Plantation, Davie, Sunrise REALTOR, Broward Realtor Selling Plantation,Davie & Sunrise
(Remax Services)
Last year, one factor drove the real estate market more than any other: rising mortgage rates.In March 2022, the Federal Reserve began a series of interest rate hikes in an effort to pump the brakes on inflation.1 And while some market sectors have been slow to respond, the housing market has reacted accordingly.Both demand and price appreciation have tapered, as the primary challenge for homebuyers has shifted from availability to affordability. And although this higher-mortgage rate environment has been a painful adjustment for many buyers and sellers, it should ultimately lead to a more stable and balanced real estate market.So what can we expect in 2023? Will mortgage rates continue to climb? Could home prices come crashing down? While this is one of the more challenging real estate...
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By Teri Arbogast, Davie, Weston, Plantation Real Estate- Top Realtor, Davie Florida Realtor, Weston, Plantation, Miramar
(TOP 1% of Realtors)
Cooper Estates 3/2 Pool Home SELLS for $600,000!  A Cooper Estates 3/2 pool home SELLS for $600,000!  This old style Florida living has its own tropical paradise outside that features a covered patio, a 2020 refinished pool with new deck PLUS a raised wooden deck for entertaining family and friends and a peaceful water view of a canal that you can fish or canoe in!Children living in this home will attend some of Broward County's best schools: Cooper City Elementary School, Pioneer Middle School and Cooper City High School.  Cooper Estates is also close to many parks and recreational areas, a wide variety of dining, shopping and major highways that can get you to South Florida's beautiful beaches.If you are interested in a home similar to this Cooper Estates 3/2 pool home that SOLD for $...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Reasons To Sell Your House This Season Some Highlights If you’re planning to make a move but aren’t sure if now’s the right time, here are a few reasons why you shouldn’t wait to sell your house. The supply of homes for sale, while growing, is still low today. Plus, serious buyers are out looking right now, and many are hoping to avoid falling into the rental trap for another year. Let’s connect to determine if selling your house before the new year is the right move for you.
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much it costs to borrow money for your home loan. As you set out to make a purchase this winter, you’ll need to be strategic so you can find a home that meets your needs and budget. Danielle Hale, Chief Economist at realtor.com, explains: “The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, . . . Another key point is to avoid stretching your budget, as tempting as it may be given the diminished purchasing power.” In other words, it’s important ...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Winter Home Selling Checklist Some Highlights As you get ready to sell your house, focus on tasks that make it inviting, show it’s cared for, and boost your curb appeal. This list will help you get started, but don’t forget, a real estate professional will provide other helpful tips based on your specific situation. Let’s connect so you have advice on what you may want to do to get your house ready to sell this season.
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
3 Ways You Can Use Your Home Equity If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 in equity right now. As you weigh your options, especially in the face of inflation and talk of a recession, it’s important to understand your assets and how you can leverage them. A real estate professional is the best resource to help you understand how much home equity you have and advise you on some of the ways you can use it.  Here are a few examples. 1. Buy a Home That Fits Your Needs If you no lon...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
What Buyers Need To Know About the Inventory of Homes Available for Sale If you’re thinking about buying a home, you’re likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market. If this sounds like you, here’s one key factor that could help you with your decision: there are more homes for sale today than there were at this time last year. According to Calculated Risk, for the week ending in November 18th, there were 47.7% more homes available for sale than there were at the same time in 2021. And having more options for your home search may be exactly what you need to feel confident about making a move. Here’s a look at where the increased housing supply is coming from so you can get a better se...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
What Homeowners Want To Know About Selling in Today’s Market If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it's not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. Realtor.com explains: “. . . while prospective home sellers may lament that they missed their prime window, in reality, this is still a terrific time to sell. In fact, according to a recent Realtor.com® home seller survey, 95% of sellers who sold their home in the past year got more than they paid for it. Nonetheless, some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.” The k...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Top Questions About Selling Your Home This Winter There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision. 1. Should I Wait To Sell? Even though the supply of homes for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market. The graph below helps put the inventory growth into perspective. Using data from the National Association of Realtors (NAR), it shows just how far off we are from flipping to a buyers’ market: While buyers have regained some negotiation power as inventory has grown, you haven’t mi...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
VA Loans: Making Homes for the Brave Achievable Some Highlights VA Loans can help make homeownership possible for those who have served our country. These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house. Homeownership is the American Dream. One way we can honor and thank our veterans is to ensure they have the best information about the benefits of VA home loans.
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
The Majority of Americans Still View Homeownership as the American Dream Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the 2022 Consumer Insights Report from Mynd found the majority of people polled still view homeownership as a key life achievement. Let’s explore just a few of the reasons why so many Americans continue to value homeownership. The Financial Benefits of Owning a Home One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool, and it provides meaningful financial stability over renting by locking in your monthly housing payments for the length of your home loan. An article from Forbes explains: “Understanding the potential benefits of homeownership helps individuals...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be. It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how they’re breaking into the market: “. . . younger generations of Americans are not buying into that dream in the same way that older generations have. A growing number of Americans are choosing to make their first real estate purchase as an investment property.” Instead of buying a home and moving into it themselves, some young buyers are purchasing a home so they can use it as a rental. This tactic m...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Planning To Retire? Your Equity Can Help You Reach Your Goal. Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired. If this sounds like you, one thing worth considering is whether or not your current home will suit your new lifestyle. If your home doesn’t have the features or benefits you’re looking for, the good news is, you may be in a better position to move than you realize. That’s because, if you already own a home, you’ve likely built-up significant equity, ...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
What Would a Recession Mean for the Housing Market? According to a recent survey from the Wall Street Journal, the percentage of economists who believe we’ll see a recession in the next 12 months is growing. When surveyed in July 2021, only 12% of economists consulted thought there’d be a recession by now. But this July, when polled, 49% believe we will see a recession in the coming 12 months. And as more recession talk fills the air, one concern many people have is: should I delay my homeownership plans if there’s a recession? Here’s a look at historical data to show what happened in real estate during previous recessions to help prove why you shouldn’t be afraid of what a recession would mean for the housing market today. A Recession Doesn’t Mean Falling Home Prices To show that home ...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Housing Market Forecast Some Highlights The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with pre-pandemic years. Let’s connect so you can make your best move this year.
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Waiting for the mortgage rates to come down before you buy a home may not be a good decision.If you are correct, and the rates do come down by two percent, the savings you benefit from a lower rate will most likely be devoured by the appreciated price increase.As of 10/27/22, the 30-year fixed-rate was at 7.08% which is the highest level since April 2002.  If the rate drops to 5% in three years but the price increases by 5% a year, a $400,000 home today, will cost $463,050 three years from now.An increasingly, popular option that more buyers are considering is to purchase the home today with an adjustable-rate mortgage that could give them a 5.96% rate for five years.  Then, refinance to a fixed-rate when rates come down.Not only will the buyer have lower payments with the ARM, but the ...
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By Teri Arbogast, Davie, Weston, Plantation Real Estate- Top Realtor, Davie Florida Realtor, Weston, Plantation, Miramar
(TOP 1% of Realtors)
4/2.5 Unique A-Frame Style Home FOR SALE in Davie!  A 4/2.5 unique A-frame style home is FOR SALE in popular and exclusive Lawson Isles in Davie for $975,000!  This is a once in a lifetime chance to own this UNIQUE acre home with soaring tongue and groove ceilings that make for a warm, airy Chalet feel.  There is an abundance of natural light and gorgeous sky views from the wall to ceiling impact windows on first and second floor.  This huge home has grand foyer entry, a great room, living room, dining room, loft (that can be turned into a 4th bedroom), dedicated office, bar and handy laundry/mud room!  Step outside to a Florida oasis with a big pool with spa/deck and covered entertaining area with separate work room.  There are nice water views, a fenced acre lot and enormous driveway....
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Social Security was established, on August 14, 1935, to take care of the country's elderly in their retirement years.  Today, about 65 million or 1/6 of Americans collect benefits and the average monthly retirement amount received in January 2022 was $1,614 per month or about $19,370 per year.This annual Social Security benefits exceed the 2022 Federal poverty level of $13,590 for individuals and $18, 310 for a family of two but from a practical level, it is nowhere near enough to be comfortable in your "Golden Years."Every adult in the work force, can go to SSA.gov to find out what to expect to receive based on their planned retirement age.  Since it probably won't be the amount you need to retire comfortably, at least you'll know how short you'll be so that you can devise an investmen...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Managing an asset worth hundreds of thousands of dollars is a responsibility that requires attention to details such as timely payment of the mortgage, home repairs and maintenance, upkeep, and oversight on financial issues including taxes, insurance, and other things.Depending on how long you've been a homeowner, you may have faced some of the decisions common to homeownership.  Occasionally, there could be something new that you haven't had to deal with in the past.  This is where having resource you can rely on becomes valuable.During the buying or selling process, it is natural to turn to your agent for information and advice but during those periods in between where do you go for counsel?  Sure, you can turn to the Internet but that may not be the best place to get advice for your ...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Experts Increase Home Price Projections If you’re wondering if home prices are going to come down due to the cooldown in the housing market or a potential recession, here’s what you need to know. Not only are experts forecasting home prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for home price appreciation from their original 2022 forecasts (shown in green in the chart below): As the chart shows, most sources adjusted up, and now call for more appreciation in 2022 than they originally projected this January. But why are experts so confident the housing market will see ongoing appreciation? It’s because of supply and demand in most markets. As Bankrate says: “After all, supplies of homes for sale remain near record low...
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Broward County, FL Real Estate Professionals