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  • First Time Buyers | Palm Beach County Real Estate Blog

    Thursday, December 21, 2017   /   by Carl Gentile

    Top 5 Reasons to Hire a Real Estate Agent

    The National Association of Realtors (NAR) recently released their 2017 Profile of Home Buyers and Sellers in which they surveyed recent home buyers and sellers about their experiences. An entire section of the profile is dedicated to buyers’ experiences with their real estate agents.
    If you are looking to buy in 2018, here are the top 5 benefits of using a real estate agent when buying your dream home as cited by recent buyers:
    1. Helped the buyer understand the process – 60%
    If you are new to the home buying process, an experienced real estate professional can explain exactly what to expect during the entire transaction so you aren’t caught off guard.
    2. Pointed out unnoticed features/faults with the property – 56%
    Whether it’s pointing out possible uses for an extra bedroom/office, or using their trained eye to see potentially disastrous hazards that may be hiding out of site, your agent is there to protect your interests and ...

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      palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, carl gentile, first time buyers, sell your home, top real estate selling tips, selling tips

    Wednesday, December 20, 2017   /   by Carl Gentile

    Rents Are On The Rise

    There are many benefits to homeownership. One of the top benefits is protecting yourself from rising rents, by locking in your housing cost for the life of your mortgage. In a hot market such as Jupiter, Florida and Palm Beach County prices are rising and in turn, so are rental prices. 
    Don’t Become Trapped 
    A recent article by Apartment List addressed rising rents by stating:

    “Rents are up 2.7% year-over-year at the national level. Year-over-year growth continues to fall between the 2.1% rate from this time last year and the 3.4% growth rate from October 2015.”

    The article continues explaining that:

    “Despite the seasonal slowdown, rents are still up year-over-year in 89 of the 100 Largest cities.

    Additionally, the Urban Institute revealed that,

    “Over a quarter of renters, or 11.1 million households, are severely cost burdened, spending at least half their income ...

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      palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, first time buyers

    Monday, December 18, 2017   /   by Carl Gentile

    Four Reasons to Buy This Winter

    Four Reasons to Buy a Home This Season in Palm Beach County

    Here are four great reasons to consider buying a home today instead of waiting.
    1. Prices Will Continue to Rise
    CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.0% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year.
    The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
    2. Mortgage Interest Rates Are Projected to Increase 
    Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.
    An ...

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      palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, first time buyers, mortgage

    Wednesday, November 29, 2017   /   by Carl Gentile

    Low Interest Rates Have a High Impact on Your Purchasing Power

    According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history!
    The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.
    Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.
    The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments between $1,850-$1,900 a month.

    With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10 ...

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      market updates, palm beach county, homeowners, first time buyers, palm beach county real estate, real estate, mortgage