Real Estate News

Top 3 Busted Real Estate Myths

Top 3 Real Estate Myths 

Understanding Real Estate

It seems you can’t find a headline with the term “housing affordability” without the word “crisis” attached to it. That’s because some only consider the fact that residential real estate prices have continued to appreciate. However, we must realize it’s not just the price of a home that matters, but the price relative to a purchaser’s buying power.

Homes, in most cases, are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by over a full percentage point since December 2018. Another major piece of the affordability equation is a buyer’s income. The median family income has risen by 3.5% over the last year....

Top 3 Reasons Why You Need to Grow Your Home's Equity

Building Wealth with Real Estate

Real Estate is one of the fastest and most secure ways to build wealth. 83% of wealth comes from real estate equity at retirement. There has been a lot of focus on real estate appreciation over the last couple of years. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity. Let’s break down three ways this is a win for homeowners.

#1 - Real Estate Move-Up Opportunity

The opportunity in the market is the move-up buyer. With the rise in prices, homeowners naturally experience an increase in home equity. Many homeowners...

Top 5 Real Estate Reality Show Myths Explained

What HGTV Won't Tell You

Real Estate and Reality Shows

If you're like most of the US, you have been watching reality shows causing us to dream of a fixer upper. It is so easy to fall in love with designing homes with shows like “Property Brothers,” “Fixer Upper,” and “Love It or List It,” all in one sitting from the comfort of our couches. 

When you’re in the middle of your real estate-themed TV show marathon, you might start to think everything you see on the screen must be how it works in real life. However, you may need a reality check.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and decide to purchase one of them.

Truth: There may be buyers who fall in...

Tips to Save Money on your Insurance Costs

10 Tips to Save Money on your Insurance Costs

10 Tips to Save Money on Insurance Cost

Insurance is a vital part of property investment. This is considered to be a big part of it which is somehow overlooked by some investors.It is important that you are investing with proper insurance. However, you want to make sure that the amount you pay in insurance costs will not lead to financial hardship. Whether you already own a home or you're still looking for a home, it's important to know the insurance costs .

Here are some helpful tips on how you can save money on your  insurance costs:

1. The newer the home, the lower the premium.

2. Concrete...

Real Estate Advice That Can Be Costly

Real Estate Advice You Should Ignore

Costly Mistakes

Buying or selling your home is a big decision. It’s natural to have questions, but how can you tell if the information and advice you receive is accurate to your situation? Not only can you find bad information online but it might come from unexpected sources, like your friends, your family and even your agent.

Here are a few of the costly real estate advice that you should ignore each and every time.

1. You’ll save money if you don’t work with an agent – Both buyers and sellers fall into this trap, but bottom line, a good agent will save both parties money through their market knowledge and negotiation skills.

2. Determining your price by online estimates – Online home value estimates, such as Zillow’s Zestimates,...

What happens when prices increase only by $1000?

Rising Prices

A recent study by the National Association of Home Builders (NAHB) show that a $1,000 increase in the cost of a median-priced newly built home, pushes 127,560 buyers out of the market. This means that the increasing prices are impacting affordability and the ability for potential buyers to purchase a home. 

So, what does this mean? This study illustrated how even a relatively small increase in price or interest rate can dramatically impact housing affordability, according to NAHB Chariman Randy Noel. Housing affordability is currently a serious problem in communities across the country including South and Central Florida. On top of rising prices, the concern over interest rates is on the...

What is a 1031 Exchange?

What is a 1031 Exchange?

One of the most common real estate investment transactions is the 1031 Exchange. Simply put, a 1031 Exchange (also called a “like-kind” exchange) is the swap of one investment asset for another which defers capital gains taxes on profits. 

A like-kind asset refers to selling one class of investment for a similar type of asset. For example, an investor currently holds several multi-family properties, such as duplexes, and wishes to sell them all in order to purchase a larger multi-family property, such as an apartment complex. This would qualify as a like-kind exchange. 

There are specific IRS rules which must be carefully adhered...

The 4 Basic Tips for Investing in Real Estate

If you are new to real estate investing, there is a lot to learn. Unlike investing in the stock market or mutual funds, the success of a real estate investment largely depends on you; what property you purchase and how you manage the property once you own it. Real estate is a large capital investment, so before you write that first offer, it’s helpful to learn as much as you can. These 4 basic tips will give you some direction as you learn about investment opportunities.

  1. Location, Location, Location – One of the most important aspects of a successful real estate investment is the location. The right neighborhood, street or community can make thousands of dollars of difference.
  2. Consider Wholesale Properties – Watch for properties listed below market value. Foreclosure...

2018 Profile of International Residential Real Estate Activity

Florida's 2018 Profile International Real Estate Update

International Top Florida Cities

What is the international real estate market doing in 2018? South Florida is such a popular place for buyers from all over the world and the global impact is felt when there are changes.  International buyers accounted for 19% of all real estate transactions in Florida based upon dollar volume. This number is down from  21% last year. International buyers state that increased prices, lack of inventory and changes in the exchange rate are a few reasons that they have decided not to purchase a Florida home. 

What areas are the most popular for international buyers in Florida? South Florida (Miami, Ft Lauderdale, West Palm Beach) received 54% of all international transactions. Is that a shock? Not really as we have...

Who Is Buying Real Estate?

Who Is Buying Real Estate?

Five countries accounted for nearly half (49 percent) of the dollar volume of purchases by foreign buyers are China, Canada, India, Mexico and the United Kingdom. For the sixth consecutive year, China exceeded all other countries in dollar volume of purchases, buying an estimated $30.4 billion worth of residential property, though that's a decrease of 4 percent from last year.

However, rising home prices and low inventory led to a decline in foreign home purchases in the United States. According to an annual survey from the National Association of Realtors® (NAR), total international sales totaled $121 billion during April 2017 to March 2018, a 21 percent decline from the previous 12-month period.  Lawrence Yun, NAR chief economist says "Inventory shortages continue to drive up prices, and sustained job creation...