Buying a house? Now is the time!

Buying A House? Everyone Seems To Think This Is The Time

By The KCM Crew

There are many people deciding on whether to sign a new lease on a rental property or take the dive into homeownership. Every situation is different. However, with rents, home values and mortgage interest rates projected to rise, buying now might make a lot more sense than waiting until next year.

Here are others who seem to agree:

An article at NPR:

“Economists see several reasons why 2015 might be a banner year for homebuying — and not just in San Francisco and Miami.”

An article on Consumer Affairs:

“If you have been thinking about purchasing a home, the first half of 2015 might be a good time.”

An article on Fox Business News:

“As rent increases, it simply makes more sense to buy a home.”

Bottom Line

Buying earlier in the year probably makes more sense than putting off the decision.

Contact The J Team Fort Lauderdale today to schedule your home buyers consultation.  We can discuss your needs and desires and help you find solutions to buy now!  You can search for Fort Lauderdale Homes now at www.JTeamSellsFortLauderdale.com

Did It Make Sense to Wait?

By The KCM Crew

There are many people out there who debated purchasing a home over the course of the last year, but ultimately did not. Whatever their reasons were for delaying, let’s look at whether the decision to wait to buy made sense.

What happened in 2014?

The 30 year fixed rate on January 2, 2014 was 4.53% as reported by Freddie Mac. Looking at the chart below, your monthly mortgage payment with principal and interest for a $250,000 home would have been $1,271.17.

Even though interest rates have dropped below 4% and ended 2014 at 3.87%, home prices appreciated by 4.8 percent over the same time according to the Home Price Expectation Survey.

So that same home appreciated by $12,000 and now costs $262,000. The most recent report by Freddie Mac reports the average 30-year fixed rate is currently 3.73%.

Many may say, “See waiting a year made total sense, I’m saving $60 a month.” And they’d be right, over the course of the year they saved $729.36.

But what they haven’t realized, is that as the price of the home they purchased went up by $12,000, even if they just put a down payment of 5%, they had to come up with an additional $600 at the start of the process. So really they’ve only saved $129.36 in a year.

Is a savings of $11 a monthreally worth holding off on pursuing a home to call your own after you weigh all the benefits that come along with that?

• Building equity you can borrow against in the future
• Having a safe, comfortable environment that fits your family’s needs
• Having control over your space
• Tax benefits
• And so many more…

Bottom Line

The experts are predicting that homes will appreciate by another 4% and interest rates will increase by a full percentage point by the end of 2015. If you are in a position to be able to buy a home now before these predictions become reality, contact The J Team Fort Lauderdale Real Estate Experts and start the process.

Contact The J Team Fort Lauderdale at 954-235-3589 or search Fort Lauderdale Homes at www.JTeamSellsFortLauderdale.com

A Stunning $441 Billion Paid in Rent

By the KCM Crew

A recently released study revealed that a whopping $441 Billion was spent on rents in the U.S. in 2014. This represents an increase of over $20 Billion from the year before. As shown on the chart below, rents have increased consistently over the last 20+ years.

However, the recent increases have been astounding.

Why such a jump? 

Many Millennials have postponed the purchase of their first home while waiting for the economy to recover. This has increased demand and dramatically lowered vacancy rates. In a recent article on the MarketWatch, economics reporter Ruth Mantell explains:

“Landlords have ramped up rents by the fastest pace in six years, with national vacancy rates the lowest in two decades.”

Zillow Chief Economist Stan Humphries let us know that increases will continue:

“Another increase in total rent paid similar to that seen this year isn't out of the question. In fact, it's probable."

Are you still paying rent?  Have you thought about buying a home?  The J Team Fort Lauderdale may have the answers and solutions to help you buy now!  Even if your credit score needs repaired or your school loan debt is high, there are solutions that can help you buy a home sooner!

Contact The J Team Fort Lauderdale at 954.235.3589 or visit: http://www.JTeamSellsFortLauderdale.com

4 Reasons to Buy Before Spring!

By The KCM Crew

The holiday season is behind us, time to focus on what exciting new experiences 2015 can bring! If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 15.1% (most pessimistic) and 32.8% (most optimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 

2. Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of 2015.

An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way You are Paying a Mortgage

As a paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Schedule your personal Buyers Consultation with The J Team Fort Lauderdale today!  First half of the consultation will educate you about the buying process today and second half wil be focused on your needs to understand what you are looking for.  Then we help you search Fort Lauderdale Homes and set you up on a Buyers Instant Notification system to alert you the second a home with your criteria becomes available!  Contact The J Team Fort Lauderdale today at 954-235-3589!

Start your search for Fort Lauderdale Homes on our website www.JTeamSellsFortLauderdale.com

15 Overlooked but Important Ways to Get Your Home Ready to Sell

If you really want to make your home attention-grabbing, it’s time to up your game.

You may think you know the basics when it comes to getting your home ready to sell: remove any clutter or personal effects, fix what’s broken, and stage your rooms. But buyers are a fickle lot, and they can fall in — or out — of love with a home for any number of reasons, some so subtle that the buyers themselves aren’t fully aware of their logic.

If you really want to make your home attention-grabbing for all the right reasons, it’s time to up your game with these outside-the-box tricks:

1. Set the mood (lighting)

Swap out your bright white light bulbs for a soft and flattering wattage that invokes a cozy, yet welcoming feel and hides any tiny imperfections. Opt for bulbs that emit yellow-toned and red-toned hues.

2. Wash your windows

Have your windows professionally washed, or devote an afternoon to washing them yourself from both inside and out. Even on gray days, clean windows will let in more light and make your rooms sparkle — and buyers will definitely notice if it isn’t done.

3. Mind the details

Small details can make your home look dumpy without you even realizing it. Freshen up rooms with new switch plates and outlet covers if yours are grubby from fingerprints or yellowed from aging. Polish handles and hardware and use a Mr. Clean Magic Eraser to remove minor spots and scuffs on walls.

4. Make it welcoming

You’ve got the curb appeal, but what about “walking up to the door” appeal? Invest in a new doormat and take the time to scrub down your front door since it’s probably covered with dust, dirt, and oils. Better yet, repaint it and add some new house numbers and a new porch light.

5. Don’t forget your sideyard

Turn that dead space into a selling point by creating a potting station or kitchen garden, or even set up breakfast nook with a café table and chairs.

6. Get creative with color

Paint two adjacent rooms the same color to give the appearance of an open floor plan. Paint your walls to match your drapery (or buy drapery to match the walls). Use the same colors and patterns in the master bedroom and bath to create an “ en suite” feel.

7. Update your own furniture

Empty rooms show poorly. “Stage” a spare bedroom with an air mattress and bed frame. Create a living room arrangement by throwing matching slipcovers over clashing chairs and sofas.

8. Brighten up trim

Walls aren’t the only things that need a fresh coat of paint. Dingy door and window frames will drag down the prettiest of rooms. Repainting wood-toned trim white will also make your space brighter.

9. Employ scents

The old tried and true: bake a fresh batch of cookies to create a homey feel (or fake it with a scented candle). Employ soothing, spa-like scents like vanilla and lavender in bathrooms and bedrooms.

10. Make your space look bigger

Hang floor-length curtains above your windows to give the illusion of higher ceilings. Lay down a striped rug to make your floor seem more expansive. Use a clear shower curtain to open up a small bathroom.

11. Fake a closet organization system

Make your storage look custom with DIY shelves, hangers, and bins. Organize clothes by type and color for added impact.

12. Dress up your laundry area

Whether it’s a separate room or a corner of your basement, make your laundry area look welcoming by adding a folding surface, bins, and baskets for storage, and a designer element like a fun rug or temporary wallpaper.

13. Tidy up the garage

Install overhead or wall shelves to store bikes and sporting equipment. Create a workshop area in one corner — show buyers it’s more than just a place to park cars.

14. Prepare for snoopers

Buyers will open your fridge, peek in your medicine cabinet, and check under your sinks. Make these areas so tidy Martha Stewart would be proud.

15. Don’t knock feng shui

Many of its teachings can help make your rooms more attractive: avoid having the backs of furniture facing entryways, close the toilet lid, and don’t place anchor pieces like beds or sofas against a window.

For more tips on selling your home contact the experts at The J Team Fort Lauderdale at 954-235-3589 or visit www.JTeamSellsFortLauderdale.com

#1 Reason to Sell Now

By The KCM Crew

If you are one of the many homeowners out there who are debating putting their home on the market in 2015, don’t miss out on the opportunity that currently exists. There will be significantly less competition in the winter months than in the spring.

According to the National Housing Survey released by Fannie Mae, 45% of homeowners “say mortgage rates will go up in the next 12 months.”

What Does This Mean?

Homeowners are unaware that interest rates are projected to go up by all four major reporting institutions – This is big news for move-up buyers reflecting the overall amount of housing inventory that will be on the market.

If existing homeowners believe that mortgage interest rates are not going to increase, then they won’t be inclined to make a move by putting their home up for sale, meaning less competition for sellers who list now.

Don’t Wait!

The study also revealed that:

“Those who say it is a good time to buy a house rose to 68%” & “the share of respondents who think it would be difficult to get a home mortgage today decreased by 3 percentage points.”

As Doug Duncan, senior vice president and chief economist at Fannie Mae explains:

“We expect consumer attitudes toward housing to improve as the pickup in the overall economy lifts employment and income prospects.“

Bottom Line

There are buyers out there who are ready to make a move. If your goal this year is to move up to your dream home, what are you waiting for?

Thinking of selling your Fort Lauderdale Home?  Visit: http://JTeamSellsFortLauderdale.com/sell/ today and get your current market analysis!

Homeowners’ Tough Decision: what to do if my home doesn't sell?!

Homeowners’ Tough Decision: OTM, FSBO or List

By The KCM Crew

At the end of the year, in every region of the country, hundreds of homeowners have a tough decision to make. The ‘listing for sale agreement’ on their house is about to expire and they now must decide to either take their house off the market (OTM), For Sale by Owner (FSBO) or list it again with the same agent or a different agent. Let’s assume you or someone you know is in this situation and take a closer look at each possibility:

Taking Your Home off the Market

In all probability, after putting your house on the market and seeing it not sell, you’re going to be upset. You may be thinking that no one in the marketplace thought the house was worthy of the sales price.

Because you are upset, you may start to rationalize that selling wasn’t that important after all and say,

“Well, we didn’t really want to sell the house anyway. This idea of making a move right now probably doesn’t make sense.”

Don’t rationalize your dreams away. Instead, consider the reasons you decided to sell in the first place. Ask your family this simple question:

“What made us originally put our home up for sale?” 

If that reason made sense a few months ago when you originally listed the house, chances are it still makes sense now. Don’t give up on what your family hoped to accomplish or on goals your family hoped to attain.

Just because the house didn’t sell during the last listing contract doesn’t mean the house will never sell or that it shouldn’t be sold.

Re-Listing with your Existing Agent

For whatever reason, your house did not sell. Perhaps you now realize how difficult selling a house is or that the listing price was too high, or perhaps you’re now acknowledging that you didn’t exactly listen to your agent’s advice.

If that is the case, you may want to give your existing agent a second chance. That’s a perfectly okay thing to do.

However, if your agent didn’t perform to the standard they promised when they listed your home you may want to either FSBO or try a different agent.

For Sale by Owner

You may now believe that listing your house with an agent is useless because your original agent didn’t accomplish the goal of selling the house. Trying to sell on your own this time may be alluring. You may think you will be in control and save on the commission.

But, is that true? Will you be able to negotiate each of the elements that make up a real estate transaction? Are you capable of putting together a comprehensive marketing plan? Do people who FSBO actually ‘net’ more money?

If you are thinking about FSBOing, take the time to first read: 5 Reasons You Shouldn’t For Sale by Owner.

List with a New Agent

After failing to sell your home, you may no longer trust your agent or what they say. However, don’t paint all real estate professionals with that same brush. Have you ever gotten a bad haircut before? Of course! Did you stop getting your hair cut or did you simply change hair stylists?

There is good and bad in every profession—good and bad hair stylists, agents, teachers, lawyers, doctors, police officers, etc. And just because there are good and bad in every line of work doesn’t mean you don’t call on others for the products and services you need. You still get your hair cut, see a doctor, talk to a lawyer, send your kids to school, etc.

You initially believed that using an agent made sense. It probably still does. Contact a local real estate professional and discuss the possibilities.

The J Team Fort Lauderdale at Keller Williams Realty is available to discuss your options when your home doesn't sell.  Sometimes it takes a new approach like we use.  Even the Best homes don't sell the first time.  Call The J Team Fort Lauderdale today at 954-235-3589.