Category: Uncategorized
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Brought to you by The Cantrell Team | How the 1% Down Mortgage Works and Who Benefits
There are 1% down mortgages available for those with a modest income and a 620 credit score. Borrowers make a 1% down payment, and lenders provide the remaining 2% as a non-repayable grant. Pros: 1. Minimal upfront costs 2. The opportunity to use savings for other expenses Con: 1. Restricted eligibility 2. ↑ Risk of…
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Brought to you by The Cantrell Team | 2023’s Winning Tips in Southwest FL
Some wait for lower rates; others buy now and refinance later for potential savings. The fixed purchase price and mortgage rate require careful initial decisions. Ensure a wise purchase by hiring a Buyer's Agent, paid by the seller.
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Brought to you by The Cantrell Team | Addressing South Florida’s Housing Affordability Crisis
Households need $111,914 yearly to avoid being "house poor" in South Florida. Median incomes in Florida fall short for comfortable living in Greater Miami. Rent prices: ↑2.83% yearly Rent growth is stabilizing, but there is a housing shortage due to high interest rates.
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The Mortgage Lending Process
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Housing market predictions for 2024
In November 2023, the U.S housing market is becoming increasingly challenging for buyers due to high mortgage rates, steep home prices, and low levels of inventory. This situation is expected to remain the same in 2024, however, a drop in mortgage rates could spur the market for both buyers and sellers. Home prices, mortgage rates,…
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Brought to you by The Cantrell Team | Home Prices in 2024: Experts Weigh In
Home price increases have slowed down compared to the peak pandemic Real Estate gold rush. The US median price has ↑ from $285,274 to $420,284 in 5-yr. Experts predict that home prices will ↓ 2% by the end of 2024.
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South Florida’s Multifamily Sector ‘Finally Shows Signs Of Cooling Off’
In November 2023, South Florida apartment rents saw a slight decline in the third quarter for the first time since the pandemic began. The average monthly asking rent was $2,121, down $5 from the previous quarter. New supply hitting the market has outpaced demand, leading to a 5.4% vacancy rate, a marked increase from the…
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New build-to-rent homes surging across Florida as mortgage rates rise
Build-to-rent homes have become a popular solution to the housing crisis in South Florida and the Treasure Coast, with 44,700 houses currently under construction. On November 1, 2023, a ribbon-cutting ceremony was held for The Cottages, a build-to-rent complex in Port St. Lucie. Vice President of Capstone Communities Davis Maxwell said that the build-to-rent model…
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Brought to you by The Cantrell Team | Why Florida Is a Prime Spot for Real Estate Investing
Florida offers an excellent rent-to-income ratio of 16%, making it a lucrative place for Real Estate investment. The state boasts a strong economy and increasing population, factors that bode well for property appreciation. Florida ranks fifth lowest in overall tax burden among U.S. states, an added advantage for investors concerned about operational costs.
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USDA Has a Home Loan Program
The USDA Loan, also known as the Meat Loan, is a rural housing guaranteed loan program that offers a number of benefits compared to the FHA loan program. These benefits include no down payment required, nominal mortgage insurance, and a standard 30-year fixed term. For a 7.50% rate, the USDA loan saves 0.75% off the…