Sharing a bit of news regarding mortgages and the importance of getting pre-approved before searching for a home...when you find one you love - you MUST be ready to move on it as the market is moving fast!

Leisurely looking for a mortgage is a luxury South Florida homebuyers can't afford anymore.

 Sellers have seized control of the rejuvenated market. Strong competition for a limited supply of homes is forcing buyers to quickly arrange financing or face the prospect of losing the deal.

 "If you can't deliver a loan commitment in under two weeks, you've got a problem," said Stephen B. McWilliam, president of Florida State Realty Group in Fort Lauderdale.

 Most real estate agents insist that house hunters meet with lenders before touring a

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Being a valued member of the community always ranks high on my list of priorities and I must say that I am once again humbled by being chosen to sit on The Board of Directors for the Northern Palm Beach County Chamber of Commerce.

As a local resident REALTOR, I have vast knowledge of the communities here in Palm Beach County and am proud to serve and give back to the community that I have lived in and loved all my life.

Service = Success!

Happy Friday.

Hurricane season in Florida runs from June to November with August to October being the most likely months that a hurricane may hit. Knowing what to do with your boat in the event of a hurricane, is a responsibility that can save not only your boat, but lives as well.

Boat Preparations Prior to Hurricane Warnings

1. Ensure your boat is in good working order and that all equipment is secured.
2. Seal windows and doors with duct tape, shut sea cocks, and cap off or plug all water fittings.
3. Make a record of the inventory on your boat. Move items that do not need to be on your boat.
4. Check with city police and county sheriff departments, state marine patrols, and the Coast guard to see if there are local plans for boats in your area.
5. Have a plan

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After weeks of  feeling as though we lived in Seattle we finally have some sunshine here in "Sunny South Florida".......I have to say it is pretty nice to need the sunglasses again.  I guess we shouldn't complain about a little rain since we are in hurricane season.  Are you prepared?  Here's a link to some useful preparedness information provided by FEMA:  http://www.ready.gov/basic-disaster-supplies-kit

Of course it goes without saying that we all hope we don't have to use this...but mother nature IS a force of her own.  Have a great Thursday!

Rising rates won’t put housing out of reach WASHINGTON – June 11, 2013 – Rising mortgage rates are not yet jeopardizing housing affordability, according to a new report by Goldman Sachs that found affordability still far above past average levels.

“For a mortgage interest rate of 3.81 percent, the average homebuyer can afford to buy a house worth $279,000 – 45 percent above the current median sales price of existing homes,” according to the Goldman Sachs report. “Even if mortgage rates continue to increase from here, the median home will still be affordable to the median borrower, based on the conventional 25 percent debt-to-income threshold.”

Goldman Sachs researchers say that from 2014 to 2016, they expect housing prices will increase about 4 to 5

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Trader Joe’s picks Palm Beach Gardens to be first county outpost

Preliminary rendering of Trader Joe’s planned at PGA Plaza in Palm Beach Gardens.

Preliminary rendering of Trader Joe’s planned at PGA Plaza in Palm Beach Gardens.

                                  

The horse race is over, and Palm Beach Gardens has won the Trader Joe’s stakes.

The California-based boutique grocery chain said Monday that it has signed a lease to open its first Palm Beach County store in the PGA Plaza in Palm Beach Gardens. The Palm Beach Post reported last August that a deal was in the works.

“It’s a wonderful community, a great fit and it has a lot of foodies,” Trader Joe’s spokeswoman Alison Mochizuki said of Palm Beach Gardens.

The

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After five years the Mortgage Forgiveness Act is set to expire 12/31/13 and is NOT expected to be extended.  This may be the last opportunity for primary residents to short sale their home without receiving the income tax burden.  In most cases, the short sale seller pays no fees.  We have Short Sale Experts on staff....now is the time to list your home,  inventory is low and homes are selling fast.  CALL US - we can help.  561-282-5255

By now it should be clear to everyone that a multi-year home price rebound started in January of 2012. It should also be obvious to everyone that home prices in 2013 are on a tear. The rest of 2013 will remain strong, with rising home prices. The data is already in and it is very clear. 

There are always bearish readers who object to the characterization of a hot real estate market. They’re generally expecting 2014 and beyond for home prices to fall again. This bearish housing argument usually includes anecdotes about the fragility of the rental market, and that investors have been driving purchase demands and now we’re flooded with rentals. Rents must fall. Here is a look at the Florida data. Here’s what we found.

  

Real
Estate Shadow Demand Outweighs it’s Shadow Inventory

Quit your yapping about how strong the real estate market is, Simonsen. It’s a fake rally. There is no actual demand.

That’s the bearish argument I’ve been hearing lately. I’m not buying it.

For years we’ve been watching the phenomenon of “Shadow Inventory” of potential homes that need to be sold, and looking for impact on the market.
This set of underwater or distressed properties is now shrinking rapidly.  The number of homes with underwater mortgages fell by nearly two million
last year. According to the Fed, home price gains of 10% will be enough to move 40% of underwater borrowers back above water. These home sellers are highly likely to buy another home in the same or comparable market,

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 WASHINGTON – Jan. 23, 2013 – Home sales are set to keep marching upward this year after hitting their highest level in five years in 2012, economists say.

Existing-home sales for the full year rose 9.2 percent from 2011, according to preliminary data, the National Association of Realtors (NAR) reported Tuesday.

New home sales, which will be reported Friday, have also been improving.

Housing is finally contributing to the economy’s growth instead of pulling it down, Moody’s Analytics chief economist Mark Zandi says.

He expects housing to contribute a fifth of the economy’s growth this year. In 2009, it subtracted more than 1 percentage point from GDP growth, he says.

Housing has historically led the U.S. economy out of recessions.

Now that housing…