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  • Wealth Preservation | Palm Beach County Real Estate Blog

    Thursday, February 22, 2018   /   by Carl Gentile

    Mortgage Rates on FIRE! Home Prices Up In Smoke?

    Mortgage Rates on FIRE! Home Prices Up In Smoke?

    Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year.
    What impact will rising rates have on house values?
    Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will drop.
    However, in a good economy, rising mortgage rates increase demand as many prospective purchasers immediately jump off the fence to guarantee they get the lower rate.
    Let’s look at home prices the last four times mortgage rates increased dramatically.
    In each case, home prices APPRECIATED and did not depreciate. No one is projecting as dramatic an increase in rates as the examples above. Most are projecting an increase of approximately 1% ...

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      palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, carl gentile, wealth, mortgage, wealth preservation, tax benefits of florida

    Monday, February 19, 2018   /   by Carl Gentile

    Whether You Rent or Buy, Either Way You're Paying a Mortgage

    There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
    As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

    “While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

    Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgag ...

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      palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, first time buyers, wealth, mortgage, luxury real estate, wealth preservation, tax benefits of florida

    Thursday, February 15, 2018   /   by Carl Gentile

    Calm Down! The Real Estate Market Is NOT Falling Apart

    There has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this happens, some tend to lump all of their investments together and create an almost ‘Armageddon’ scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in this hysteria. Does the concern about the current housing market have merit?
    Financial advisors have been warning us for months that the stock market was ripe for a “correction.”
    Experts have been questioning the value of alternative currencies for over a year.
    In contrast, here are the opinions of three major players in the residential housing market:
    Ralph DeFranco, Chief Economist, Arch Capital Services Inc.

    “It’s premature to worry about a housing bubble. The typical warning signs – excessive debt levels, poor quality loans, exponentially increasing home prices, ri ...

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      palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, wealth preservation

    Monday, January 22, 2018   /   by Carl Gentile

    What Impact Will the New Tax Code Have on Home Values?

    Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months.
    Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report.


    As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%.
    How might the new tax code impact these numbers?
    Recently, the National Association of Realtors (NAR) conducted their own analysis to determine the impact the new tax code may have on home values. NAR’s analysis:

    “…estimated how home prices will change in the upcoming year for each state, considering the impact of the new tax law and the momentum of jobs and housing inventory.”

    Here ...

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      palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, first time buyers, sell your home, mortgage, selling tips, wealth preservation

    Sunday, January 7, 2018   /   by Carl Gentile

    Reasons to Become A Florida Resident

    With the new tax laws and states struggling to collect revenues and in turn raising tax rates, the well to do, and even the not so well to do, are looking for ways to minimize their income tax bills. Income tax coupled with state death taxes - think about Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York and Pennsylvania - or even just think of one, California, with the highest personal income tax rate of 13.3% but no state death tax, the incentives for the wealthy to look for a more desirable (as in less taxing) place to call home are enormous.

    5 Advantages of Becoming a Florida Resident
    Florida is a state that is frequently mentioned when the wealthy are looking to make a move to a less taxing state. But the absence of taxes is not hte only reason Florida is such an attractive place for the well to do to move. Couple beautiful beaches and weather with the following five things and Florida stands out pretty quickly as a place for the well to do, as we ...

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      palm beach county, market updates, palm beach county real estate, real estate, wealth, florida adventages, tax benefits of florida, wealth preservation