International buyers are making a difference in Palm Beach and it is expected to continue for the next few years. Florida is the #1 place for international buyers looking to purchase and the gap between #1 and #2 continues to grow.
Canadians are one of the reasons that international activity has increased. Two years ago, Canadians spent 8.9 Billion (a record low) and only a year later they had invested up to 19 Billion in real estate. That increase has made a huge impact in some areas in South Florida.
Why have they been buying more properties in Florida? Places like Toronto have seen incredible increases in real estate values allowing for them to have access to a lot of equity. What better way to enjoy the additional equity...
Are you thinking about buying a more expensive home? Did you serve our Country and have VA financing benefits? One thing that many buyers don't know is that there is not a cap on financing with your VA loan. Really? Yes really.
With your VA loan, you can get a loan for $424,100 with 100% financing. That is pretty amazing. So what happens if you want to buy a home for more than $424,100. Out of luck? Have to put the difference down as a down payment? I have great news for you, no you don't.
So here is the concept of how it works:
$424,100 is 100%
Above $424,100, the rule of this is that Veteran needs to pay $0.25 for every $1 above.
So if you are buying a $600,000 home here is an idea of what the numbers would look like:
Purchase price $600,000
Difference between $600,000...
Millenials have a new challenge to buying their first home with increased student debt and less opportunities for earning income. Saving money for a down payment and closing costs have become a real challenge for many first time home buyers. 38.4% of millennials are living at home between the ages of 18-34.
So what is the solution? The first advice I alway give is your 1st home likely won't be your dream home. The goal is get into the real estate market. Making good decisions is critical with an ideal on your exit strategy. Yes, you need to think about moving when you are buying. That does seem odd right? It is not actually. Will you sell it? Or will you rent it? Why does this matter? It matters because it might impact the type or area that you purcase in.
The challenge for many first time home buyers is...
Manalapan has the honor or being the 2nd most expensive zip code to buy a home in the United States. Last year they were number 1. Manalapan Florida is the only Florida zip code that made the list of the top 10 Most Expensive Zip Codes. The majority of the other Top 10 Most Expensive Zip Codes were in New York or California.
Why do luxury buyers love Manalapan?
1. The ease to fly in and out of to enjoy the Manalapan residence. Whether this is a primary home, seasonal home or weekend retreat, getting in is easy with both private and 3 international airports 15-60 minutes away. You have many options when traveling from your Manalapan home.
2. The weather is perfect. If you are looking for a place to escape winter for a few days or the entire season, this is the ideal locaiton. With warm days, comfortable...