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Top 5 Reasons to buy a Home Right NOW!

residence realty miami

Top 5
Reasons to Buy A Home Right Now!

residence realty miami

Dear Clients, Colleagues, & Friends,

Happy December! WOW has 2018 just flown by!

As we approach the holidays and spend time in our homes with friends & family, lets finish out this year by taking a look at all the right reasons to buy a home NOW!

Additionally, this weekend is the official Miami Association of Realtors "South Florida Open House Weekend" December 8-9, 2018 so make sure you stop by and look at all the amazing homes on the market for sale!

Happiest Holiday Wishes,

Paola M. Garcia-Carrillo
Real Estate Broker | CEO

1) Those pesky interest rates...

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So we all know that the Federal Reserve is, and will be, rising interest rates incrementally over time. Gasp!
However, what many fail to take into account when thinking about the current interest rates, is that they are STILL lower than the dreaded 2007 crash.
Home prices and values are back up to the pre-2007 levels , but, with about half of the rates at the time (8%-10%).
Today's 30-year & 15-year fixed rates on both conventional and jumbo loans are all under 5% for purchasing.

2) Foreclosures are back!
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Did you miss out during the last downturn to take advantage of foreclosures? There might be an opportunity here waiting!
For the past several years the trend around the U.S. has been a dried up almost non-existent foreclosure market.
However, as reported by the NAR on December 3rd: foreclosures are "on the rise in 15 cities". With about 55% and 50% rise in Florida and Georgia respectively; now might just be the time to make that move!

3) Direction of YOUR particular market

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Realtor Magazine called it "a tale of two housing markets unfolding nationwide." With larger more developed markets seeing a reduction (or adjustment) in price, while smaller less developed markets are seeing price increases in values.
We see this locally with the differences and demand for homes in Palm Beach County and Broward County vs Miami-Dade. The key ,as always, will be to get informed about what the real estate market is doing around you. If your area is in prime position, start moving towards purchasing now!

4) Even Freddie's trying to help!

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Worried about affordability? Freddie Mac just announced it's new plan for a pilot program called CHOICEHome for manufactured homes.
Freddie Mac states that their program is aimed to "help increase the availability of the quality affordable homes that borrowers want, while providing lenders with the innovative financing options they need."
All in all this is a smart move to tackle affordability AND availability, take advantage!

5) Last year before another election

residence realty miami
Whether based in fact or fears: election years tend to provide some interesting challenges to the home buyers.
As reported by in 2016, "it can seem harder in an election year to move properties". Sellers who are aware of this may start rushing to put up properties for sale in 2019, allowing you to take advantage.
Conversely, home sale prices during the election year can drop as rising value slows, creating a need for real estate investors to get in the game. Either avenue you choose to take, you're looking at 12 more months to either make a move or at the very least get ready to make one!

Get in Touch
  • Paola M. Garcia-Carrillo , RESIDENCE REALTY INC.
  • Real Estate Broker / CEO
  • O: 305.778.2252
  • 7452 SW 48th Street Miami, FL 33155

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