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3 Tips For Buying a Home in Palm Harbor This Year

Know your price range.

We all like pretty properties! But there’s no point in falling in love with a dream home if you can’t afford it.

Look beyond the physical aspects.

Fixtures, finishes, paint, etc. can all be updated. Think about the other reasons you are interested in a home. Neighborhood, lifestyle, commute, etc. all play a big role in your long term commitment to your home.

Be thorough!

Take your time and complete your due diligence. Things like home inspections and appraisals are a must!

Ready to start the process? Schedule your strategy call today.

Trying To Save For a Home in Palm Harbor?

Try these 5 tips when saving for a down payment:

1. Pay off debt (particularly high-interest credit card debt) as much as possible.

2. Set up an automatic savings deposit.

What’s not seen can’t be spent.

3. Reduce rent costs. Move in with family, take in a roommate, or find a cheaper place to live.

4. Eliminate unnecessary living expenses:

gym membership, subscriptions, cable TV, etc. Consider going to cash-only basis when shopping.

5. Evaluate credit cards and select those with low interest and/or cash back incentives.

Ready to start looking at houses? Schedule your strategy call today.

3 Tips For Buying a Home in Palm Harbor This Year

Have realistic expectations.

Whether it’s applying for a mortgage or submitting an offer, be realistic.

Take a second look.

It’s easy to get wrapped up in the dream of home ownership. Bring your realtor, friends, or parents, for a second showing to be sure of your decision.

Commit to the long run!

Gather resources to keep up with home maintenance and never ignore problems that pop up. Because this will likely be your home for years to come!

Need a few more tips on how to buy this year? Schedule your strategy call today.

I Still Think You Should Buy a House in Palm Harbor This Year

On the fence about buying this year?

You might’ve noticed, home prices have come down a bit.

And that you actually have some more homes to consider.

Which means you, as a buyer, finally have some leverage (especially during spring and summer) after a few years of sellers calling the shots.

So what does that mean for you?

A more balanced market, which means you’ll actually get a chance for home inspections and price negotiations.

My advice?

Stay patient in the process and be prepared (financially) when a good deal pops up!

Ready to buy? Schedule your strategy call today.

Three Hard Truths About Real Estate Right Now

Rents, homes prices, and mortgage rates all increased last year which created a lot of barriers for home buyers.

Rising rents have made it especially difficult for buyers to save for a down payment.

As exciting as home buying may seem, remember that a house has to be something you can comfortably afford.

You don’t want to end up in your dream house with a nightmare budget.

So what can you do in the meantime?

Share housing with roommates or opt to stay with your parents if your situation allows it.

Be persistent about saving money and protecting (or improving) your credit.

These might not be your ideal steps, but you can still take consistent action to make home buying more affordable when you’re ready. Schedule your strategy call today.

What if You’re a Millennial in Palm Harbor And Haven’t Bought a Home Yet?

It could be challenging, but not impossible.

Here’s why:

When our parents (boomers) were about 30 years-old, they owned 21% of the national wealth.

Millennials at that point now only own about 6.5%.

If you weren’t able to buy a house before the 40% price increase over the past few years, there might be a way to go before you’re able to get back in.

Because we’re not going to see a 40% price drop, we’re going to see more of a 4-5% drop in 2023.

It’ll definitely provide some relief, but in the meantime keep positioning yourself to be able to buy when you’re ready.

Have questions about how to buy your first home? Schedule your strategy call today.

Renting vs Buying in Palm Harbor

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There’s a lot of factors to think about when deciding to rent or buy. Consider things outside of your monthly bills like your responsibility to maintain the property, and keeping cash for unexpected expenses.⁣
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In my opinion, those trade offs are worth it for the value of appreciation over time, building equity, and personal wealth.⁣
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If rates have you worried, remember that they 𝘊𝘈𝘕 come down. If that happens, you can refinance to lower your monthly payment… but rental rates– rarely decline.⁣
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𝐒𝐨 𝐰𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐩𝐨𝐢𝐧𝐭?⁣
Ownership provides price stability that renting does not. And while renting has its purpose, remember that home ownership has long term upsides compared to the short term benefits of renting.⁣
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Ultimately the decision to rent vs buy is more than just a financial one, but if you’re ready and able to purchase, don’t let rates get you down!⁣
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Have questions about buying this year?⁣ Schedule your strategy call today.

Inflation? Rates? What it Means For Your Palm Harbor Home Search

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Here’s the thing… mortgage rates rose dramatically in 2022.⁣
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That was due to the federal reserve trying to⁣
bring inflation down.⁣
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While there are some signs that inflation may be slowing… where the market goes from here really depends on the Fed’s ability to get inflation under control.⁣
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Good news is, if inflation continues to fall like we’ve seen lately, mortgage rates likely will too. (Anyone else see those rates dipping into the 5% range??)⁣
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It’s safe to say, we all want stability and predictability right now…⁣
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I’ll keep following the latest trends to keep you updated on what’s going on.⁣
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Remember if you have questions about buying or selling a home this year you can always reach out to me! Schedule your strategy call today.

Is The Housing Market Recession Proof?

Want to know what will happen to the housing market if we have another recession?

While nobody can tell you for certain when or even if a recession will take place, I can tell you history proves a recession doesn’t automatically equal a housing crisis.

When we look at the last six recessions in the U.S. going all the way back to the 80s… home prices actually appreciated in four of those.

There were only two recessions where we saw home prices depreciate. It happened first in the early 90s when the impact was minimal.

Unfortunately, what everyone remembers is the housing crash from 2008 when homes lost nearly 20% of their value.

Since home values actually climbed in some of those recessions– history shows that a recession doesn’t always mean home prices will fall.

So if you’re looking to make a move let’s connect! Schedule your strategy call today.

How Have Home Prices Impacted The Market in Palm Harbor?

Well… Demand, inventory, and sales volume are down.

Which probably makes you think we’re on the brink of some deep price declines, huh?

Prices are coming down.

But here’s the thing… in 2008, 30% of homes were upside down. At the end of 2022, that number was less than 2%.

So you’re likely not going to see catastrophic price declines going on.

Instead, we’re actually moving towards healthier market correction.

Want to learn more about where your current home fits into all of this? Schedule your strategy call today.