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Don’t wait- Marry the Home!

Don’t wait- Marry the Home!

Don’t wait- Marry the Home!

Path to Home Ownership- Dont Wait Marry the Home!

Are you eagerly waiting for interest rates to drop before taking the plunge into the world of homeownership? While the allure of lower interest rates is undeniable, there are compelling reasons why you should not postpone your decision to buy a home. In this blog post, we’ll explore why it’s essential to prioritize getting out of renting rather than holding out for interest rates to come down.

Interest Rates Are Unpredictable:
Interest rates are notorious for their unpredictability. They can rise, fall, or remain stagnant, and it’s nearly impossible to accurately time the market. Waiting for interest rates to reach your ideal level might lead to missed opportunities. Even financial experts often struggle to make accurate predictions about interest rate fluctuations. Instead of playing the guessing game, it’s wiser to focus on your readiness for homeownership.

Real Estate Appreciation:
Real estate has historically proven to be a valuable investment that appreciates over time. When you delay your home purchase, you miss out on potential gains from your property’s appreciation. Your property’s value could increase significantly, especially if you invest in a growing neighborhood. Instead of waiting for lower interest rates, consider the long-term financial benefits of owning property.

Renting Costs Money:
Renting a home might seem like a cost-effective short-term solution, but over time, it can become a significant financial burden. Every month you spend on rent is money that could have gone toward building equity in your own home. Homeownership allows you to make mortgage payments that contribute to your long-term financial stability, whereas renting provides no equity-building benefits.

Security and Stability:
Owning a home provides a sense of security and stability that renting cannot match. When you rent, you’re subject to the whims of your landlord and potential rent increases. Homeownership offers a stable living environment, and you have control over your property. You can make improvements, personalize your space, and enjoy the peace of mind that comes with owning a place you can call your own.

Tax Benefits:
Homeownership comes with several tax benefits, including deductions on mortgage interest and property taxes. These tax advantages can significantly reduce your overall financial burden, making homeownership more affordable in the long run. Waiting for lower interest rates may not outweigh the potential tax savings you could be missing out on.

In conclusion, while waiting for interest rates to drop might seem like a reasonable strategy, it’s important to consider the broader picture. The housing market is dynamic, and there are various factors at play. Instead of delaying your homeownership dreams, focus on your financial readiness and the long-term benefits that come with owning a home. Getting out of renting should be your number one priority, as it can lead to financial stability, security, and the opportunity to build wealth through property appreciation. Don’t let fluctuating interest rates hold you back from achieving your homeownership goals.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Why Clermont Florida?

Why Clermont Florida?

Why Clermont Florida?

Clermont Florida

Location and Geography: Clermont is situated in central Florida, approximately 22 miles (35 kilometers) west of downtown Orlando. It is part of the Orlando-Kissimmee metropolitan area. The area around Clermont is characterized by numerous lakes, including Lake Minneola, Lake Louisa, Lake Minnehaha, and Lake Palatlakaha. These lakes contribute to the city’s scenic beauty and offer recreational opportunities such as boating and fishing. Overall, Clermont’s geography and location offer a mix of natural beauty and accessibility to the attractions of the greater Orlando area.

Housing Market: Clermont, like many parts of Florida, has experienced fluctuations in housing prices in recent years. Before 2022, there was generally an upward trend in home prices due to population growth and demand for housing in the area. However, prices can vary depending on the neighborhood and type of property (single-family homes, condos, etc.).

Commute and Transportation: Clermont is well-connected to the Orlando metropolitan area via several major highways, including Florida’s Turnpike, U.S. Route 27, and State Road 50 (also known as Colonial Drive). These roads provide easy access to Orlando, which is approximately a 30-45 minute drive away, depending on traffic. State Road 429, known as the Western Expressway, provides a direct link to the western suburbs of Orlando, offering an alternative route for commuters. LakeXpress is the public transportation system serving Lake County, including Clermont. It offers bus routes connecting various parts of the county, but the coverage and frequency may be more limited compared to larger urban areas.

Community and Lifestyle: Clermont is known for its family-friendly atmosphere. Many families are attracted to the city because of its good schools, safe neighborhoods, and various recreational opportunities. The city’s geography, with its rolling hills and numerous lakes, makes it a great place for outdoor enthusiasts. Residents and visitors can enjoy activities like boating, fishing, hiking, and biking. The South Lake Trail, in particular, is a popular spot for walking, running, and cycling. The city has a variety of parks, sports fields, and recreational facilities for both children and adults. Lakefront Park in downtown Clermont is a popular gathering spot and offers a beach, playgrounds, and events.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Get to know more about The Four Corners area

Get to know more about The Four Corners area

Get to know more about The Four Corners area

Why move to the Four corners area 

 

Lake County

Location and Geography: Understand the town’s location, geography, and surroundings. Consider factors like proximity to major cities, access to natural amenities (e.g., mountains, beaches), and the local climate.

Housing Market: Investigate the town’s housing market, including rental and purchase prices. Determine the type of housing that suits your needs and budget. Check out properties for sell in the area  Resale Properties New construction 

Commute and Transportation: Calculate your daily commute time and transportation options. Determine if public transportation, walking, or biking is feasible, and assess the town’s traffic patterns

Community and Lifestyle: Explore the town’s culture, lifestyle, and community. Consider your interests, hobbies, and how well they align with what the town offers. Check out our Blog for future events 

Orange County

Location and Geography: The county seat is Orlando, which is also the largest city in Orange County. The county is known for its vibrant tourism industry, with popular attractions such as Walt Disney World, Universal Orlando Resort, and SeaWorld Orlando. Orange County is also home to a diverse population and offers a range of cultural, recreational, and educational opportunities.

Housing Market: It is a desirable location due to its proximity to popular attractions  and a range of amenities. These factors have contributed to a steady demand for housing in the area.

Commute and Transportation: Orange County has an extensive network of roads and highways, including Interstate 4 (I-4) and the Florida Turnpike, which provide convenient access to different parts of the county and beyond. Lynx is the public transportation system serving Orange County. It operates a network of buses that cover a wide range of routes throughout the county, including express routes to downtown Orlando. Lynx also offers a paratransit service for individuals with disabilities.

Community and Lifestyle: Orange County offers a vibrant community and a diverse lifestyle. The county is known for its warm climate, beautiful beaches, and numerous recreational opportunities such as a variety of outdoor activities, including water sports, golfing, hiking, and biking. Residents can enjoy exploring the county’s many parks, nature preserves, and lakes. Orange County is famous for its world-class theme parks, including Walt Disney World, Universal Orlando Resort, and SeaWorld Orlando. These attractions draw visitors from around the globe and provide residents with endless entertainment options.

Osceola County

Location and Geography:  Osceola County is characterized by a mix of urban and rural areas. It is part of the greater Orlando metropolitan area and is known for its proximity to popular tourist destinations. The county is bordered by Lake Tohopekaliga to the west and the Kissimmee River to the east. It also encompasses parts of the Kissimmee Chain of Lakes, which offers recreational opportunities for boating and fishing. Osceola County has a diverse landscape, including wetlands, forests, and agricultural areas. The county’s location in Central Florida provides a subtropical climate, with hot and humid summers and mild winters.

Housing Market: Osceola county offers a range of housing options, including single-family homes, townhouses, and condominiums. The prices and availability of properties can vary depending on factors such as location, size, and amenities. Osceola County has experienced significant growth in recent years, driven by factors such as its proximity to popular tourist destinations like Walt Disney World and Universal Orlando Resort, as well as its strong job market. This growth has led to increased demand for housing in the area. 

Commute and Transporation: Major highways that pass through or near Osceola County include Interstate 4 (I-4), which runs east-west and connects the county to Orlando and Tampa. State Road 417 (Central Florida GreeneWay) is a toll road that provides a convenient route for traveling north-south through the county. State Road 192 (Irlo Bronson Memorial Highway) is another major road that runs east-west and is known for its commercial areas and access to popular tourist destinations.

Community and Lifestyle: Osceola County offers a range of recreational activities and amenities. It is known for its natural beauty, with numerous lakes, parks, and outdoor spaces for residents to enjoy. The county also has a strong focus on sports and recreation, with facilities for golf, tennis, soccer, and more. Additionally, the county has a strong sense of community with various events, festivals, and cultural celebrations throughout the year. The local school system strives to provide quality education, and there are also higher education institutions in the area.

Polk County

Location and Geography: It encompasses a mix of urban areas, suburban communities, and rural regions. The county is known for its numerous lakes, with over 550 lakes dotting its landscape. The largest lake in Polk County is Lake Kissimmee. The county’s terrain features a combination of flatlands, rolling hills, and wetlands. Polk County is also home to various natural attractions, including state parks, wildlife preserves, and recreational areas. It offers opportunities for outdoor activities such as boating, fishing, hiking, and wildlife observation.

Housing Market: Polk County has had a diverse and competitive housing market. It is located in central Florida and offers a mix of urban and suburban areas. The county is known for its affordability compared to some neighboring counties, which can make it an attractive option for homebuyers.Factors such as population growth, economic conditions, and local amenities can influence the housing market in Polk County.

Commute and Transportation: Polk County is well-connected by a network of major highways, including Interstate 4 (I-4) that runs east-west through the county. Other important roadways include US Highway 27, US Highway 98, and State Road 60. Polk County offers public transportation services through the Citrus Connection. This includes fixed-route bus services that operate throughout the county, connecting various cities and communities. 

Community and Lifestyle: The county is home to several cities and towns, including Lakeland, Winter Haven, and Haines City, each with its own unique charm and amenities. The county also hosts various cultural events, festivals, and community gatherings throughout the year. Education is a priority in Polk County, with a number of public and private schools serving the community. The county is also home to several higher education institutions, including Polk State College.

    Ready to make a Move?

    Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

     

    Just listed 333 LAKE HOWARD DR in Winter Haven

    Just listed 333 LAKE HOWARD DR in Winter Haven

    Just listed 333 LAKE HOWARD DR in Winter Haven

    Blog Post 8

    333 Lake Howard Dr NW #204C, Winter Haven, FL

    Click here to Get Directions
    2 BEDROOMS
    2 BATHROOMS
    387 sqft Lot

    One or more photo(s) has been virtually staged. Welcome Home!! This 55+ community, piece of paradise in the heart of Winter Haven, Florida will not disappoint! Entertaining will not be an issue with your upgraded kitchen and spacious living area boasting with tons of light. This condo originally had a 3rd bedroom but was converted to formal dining room. The spacious master bedroom offers an on-suite bathroom with walk-in shower and closet. Enjoy all the amenities Imperial Harbours has to offer such as swimming pool, fitness center, and a private dock for boating and fishing on Lake Howard connected to the chain of lakes. Conveniently located just minutes away from Winter Havens finest shopping, dining, and recreational activities. Don’t miss the opportunity to make it yours! Schedule your private tour today and start living the Florida lifestyle today.

    January Real Estate Sales Report

    January Real Estate Sales Report

    January Real Estate Sales Report

    WASHINGTON (February 21, 2023) – Existing-home sales fell for the twelfth straight month in January, according to the National Association of Realtors®. Month-over-month sales were mixed among the four major U.S. regions, as the South and West registered increases, while the East and Midwest experienced declines. All regions recorded year-over-year declines.

    Total existing-home sales,1 https://www.nar.realtor/existing-home-sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – slid 0.7% from December 2022 to a seasonally adjusted annual rate of 4.00 million in January. Year-over-year, sales retreated 36.9% (down from 6.34 million in January 2022).

    “Home sales are bottoming out,” said NAR Chief Economist Lawrence Yun. “Prices vary depending on a market’s affordability, with lower-priced regions witnessing modest growth and more expensive regions experiencing declines.”

    Total housing inventory2 registered at the end of January was 980,000 units, up 2.1% from December and 15.3% from one year ago (850,000). Unsold inventory sits at a 2.9-month supply at the current sales pace, unchanged from December but up from 1.6 months in January 2022.

    “Inventory remains low, but buyers are beginning to have better negotiating power,” Yun added. “Homes sitting on the market for more than 60 days can be purchased for around 10% less than the original list price.”

    The median existing-home price3 for all housing types in January was $359,000, an increase of 1.3% from January 2022 ($354,300), as prices climbed in three out of four U.S. regions while falling in the West. This marks 131 consecutive months of year-over-year increases, the longest-running streak on record.

    Properties typically remained on the market for 33 days in January, up from 26 days in December and 19 days in January 2022. Fifty-four percent of homes sold in January were on the market for less than a month.

    First-time buyers were responsible for 31% of sales in January, identical to December but up from 27% in January 2022. NAR’s 2022 Profile of Home Buyers and Sellers – released in November 20224 – found that the annual share of first-time buyers was 26%, the lowest since NAR began tracking the data.

    All-cash sales accounted for 29% of transactions in January, up from 28% in December and 27% in January 2022.

    Individual investors or second-home buyers, who make up many cash sales, purchased 16% of homes in January, unchanged from December but down from 22% in January 2022.

    Distressed sales5 – foreclosures and short sales – represented 1% of sales in January, identical to last month and one year ago.

    According to Freddie Mac, the 30-year fixed-rate mortgage(link is external) averaged 6.32% as of February 16. That’s up from 6.12% from the previous week and 3.92% one year ago.

    Single-family and Condo/Co-op Sales

    Single-family home sales declined to a seasonally adjusted annual rate of 3.59 million in January, down 0.8% from 3.62 million in December and 36.1% from one year ago. The median existing single-family home price was $363,100 in January, up 0.7% from January 2022.

    Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 410,000 units in January, unchanged from December but down 43.1% from the previous year. The median existing condo price was $320,000 in January, an annual increase of 5.2%.

    “Realtors® help consumers realize the American dream of property ownership, both residential and commercial,” said NAR President Kenny Parcell, a Realtor® from Spanish Fork, Utah, and broker-owner of Equity Real Estate Utah. “A Realtor® possesses trusted expertise and a thorough understanding of local market conditions that prove valuable throughout the entire real estate transaction.”

    Regional Breakdown

    Existing-home sales in the Northeast retracted 3.8% from December to an annual rate of 500,000 in January, down 35.9% from January 2022. The median price in the Northeast was $383,000, up 0.3% from the previous year.

    In the Midwest, existing-home sales slid 5.0% from the previous month to an annual rate of 960,000 in January, declining 33.3% from one year ago. The median price in the Midwest was $252,300, up 2.7% from January 2022.

    Existing-home sales in the South rose 1.1% in January from December to an annual rate of 1.82 million, a 36.6% decrease from the prior year. The median price in the South was $332,500, an increase of 3.4% from one year ago.

    In the West, existing-home sales elevated 2.9% in January to an annual rate of 720,000, down 42.4% from the previous year. The median price in the West was $525,200, down 4.6% from January 2022.

    The National Association of Realtors® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.

    # # #

    For local information, please contact the local association of Realtors® for data from local multiple listing services (MLS). Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.

    NOTE: NAR’s Pending Home Sales Index for January is scheduled for release on February 27, and Existing-Home Sales for February will be released on March 21. Release times are 10 a.m. Eastern.


    1 Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR benchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.

    Existing-home sales, based on closings, differ from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which account for more than 90% of total home sales, are based on a much larger data sample – about 40% of multiple listing service data each month – and typically are not subject to large prior-month revisions.

    The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

    Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

    2 Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, single-family sales accounted for more than 90% of transactions and condos were measured only on a quarterly basis).

    3 The median price is where half sold for more and half sold for less; medians are more typical of market conditions than average prices, which are skewed higher by a relatively small share of upper-end transactions. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if additional data is received.

    The national median condo/co-op price often is higher than the median single-family home price because condos are concentrated in higher-cost housing markets. However, in a given area, single-family homes typically sell for more than condos as seen in NAR’s quarterly metro area price reports.

    4 Survey results represent owner-occupants and differ from separately reported monthly findings from NAR’s Realtors® Confidence Index, which include all types of buyers. The annual study only represents primary residence purchases, and does not include investor and vacation home buyers. Results include both new and existing homes.

    5 Distressed sales (foreclosures and short sales), days on market, first-time buyers, all-cash transactions and investors are from a monthly survey for the NAR’s Realtors® Confidence Index, posted at nar.realtor.

    Ready to make a Move?

    Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

     

    Understanding Interest Rate Buy Down

    Understanding Interest Rate Buy Down

    WHAT ARE MORTGAGE DISCOUNT POINTS?

    Mortgage discount points are fees paid to a lender to reduce your interest rate. They allow a borrower to trade paying more money upfront in exchange for a lower interest rate. A borrower can pay more in closing costs for smaller monthly payments over the life of the loan. Having an understanding of this substantial savings opportunity over the life of the loan is key. When reviewing interest rates from mortgage lenders, you’ll often see different numbers listed, including:

    1. Mortgage interest rate
    2. APR (Annual Percentage Rate)
    3. Points

    The mortgage interest rate is the percentage of the loan you are paying your lender to borrow the money. APR is the yearly income received by the lender over the life of the loan, reflected as a percentage of the loan amount (this includes other fees and costs charged in addition to the interest).

    Points are fees associated with buying down your interest rate. Each discount point equals 1% of your loan amount and this discount point typically decreases your interest rate by about 0.25%. 

    How much will you save when buying mortgage points?

    Depending on your circumstance, buying mortgage points can save you significant money over the course of your loan. Here’s an example:

    Paying discount points to get a lower interest rate can be a great strategy. Lowering your rate even just 25 basis points (0.25%) could save you tens of thousands over the life of the loan.

    Other things to know about mortgage points

    The terms around buying points can vary greatly from lender to lender. Here are some important things to consider:

    The lender and the marketplace determine your rate reduction, and it can change after the fixed-rate period for your mortgage ends. That’s why it’s important to make sure your break-even point occurs well before the fixed-rate expires. For Bank of America customers, however, if rates go up during the adjustable period, your rate will be lower based on the points you initially purchased.

    Contact a tax professional to see whether buying mortgage points could affect your tax situation.

    If you need to decide between making a 20 percent down payment and buying points, make sure you run the numbers. A lower down payment can mean also paying for private mortgage insurance (PMI), which could cancel out the benefit of buying points for a lower interest rate.

     

    RE/MAX Heritage has served the Central Florida real estate market for over 30 years. 

    If you are interested in buying, selling or renting a property in the Disney Orlando area of Central Florida please complete the form below to provide us with more information so that we can better serve you.

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    Ready to make a Move?

    Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.