Linda's Corner

Written by Ramsey Solutions

Recession......

Just hearing that word can cause some people to clench their teeth, clutch their chest, and run to the bank. With crazy high inflation, gas that’s around $5 and rising interest rates, you’ve probably heard rumblings that an economic recession is looming. 

Breaking news: The U.S. housing market could be cooling down. At least, that’s what the experts are saying. But how do they know? And what does that information mean for you?

Article by: Ramsey Solutions

South Florida attracted dozens of these companies during the pandemic, bringing with them high-paying jobs and workers with deep pockets paying for homes with cash. It brings up the question: is there room for the middle class anymore in Palm Beach County?

If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.

The Number of Homes Available for Sale Is Likely To Grow

Article by: Curt Sutherland

I heard that same statement in the 1970’s and then again in the 1980’s. Then in the 1990’s they said it again, and in the 2000’s, and the 2010’s. Here we are in the 2020’s and I’m hearing it again.

The funny thing is that all of the real estate investors that I know, myself included, are buying, refinancing, and developing real estate projects constantly.

The reason is because we all know the same thing: properties will never again be as affordable as they are today.

Think about something that we use daily like gasoline. In the 1970’s I was buying gasoline for my after school lawn-mowing business for $0.17 per gallon. Today a gallon of gasoline costs me $4.85 for my car. If I waited for the prices to come down, I never would have purchased another gallon of gasoline. Many people hunt for the lowest prices when they go from gas station to gas station, but at the end of the day, they almost always purchase gasoline.

Investors that are wise enough to purchase real estate right now, using todays lower interest rates, are going to find in the future, that they have purchased bargains.

If you think real estate prices are high today, just wait fifty more years and try to buy something then. Alaska was purchased for $7,200,000 and Louisiana was purchased for $15,000,000. I’m sure that seemed like a lot at the time, but today, it looks like it was a bargain.

Almost everyone is able to sell their real estate at a profit because if you keep the property in decent condition, it will, over time, appreciate in value.

In reality, it’s not so much that property values are rapidly increasing, it’s that the value of the dollar is rapidly being devalued. It simply takes more dollars to buy something that holds its value today than it ever has in our lifetimes.

Separating real estate facts from fiction can get confusing. Let’s dive into the most common things that real estate agents want homeowners to understand. We have compiled a list of the most common confusions in the real estate industry to help provide some clarity for you.

Thanks to tight inventory and competition from institutional investors, more first-time buyers set their sights on larger homes with lots of backyard space.

Increasing interest rates and home prices led to the consumer behavior of increasing home sales due to buyers’ having a fear of missing out as concern grew that continued increases in mortgage rates would make it even more difficult to purchase a home. Now, we are seeing early indications that more sellers are beginning to place their homes on the market due to concern that rising interest rates will eventually reduce the number of buyers.

Buying a home is almost always a great investment, and of course it’s exciting to find and close on a home that you will get to call your own. That feeling of joy and confidence can fade quickly though if certain things are overlooked during the process. 43% of homeowners have at least one regret about buying their home, and that number jumps to 64% for millennials, according to a recent survey.

Here are a few tips for ensuring your home purchase is regret-free.

The beach is just the perfect place to relax and recharge, regardless of the time of year in Florida.