Monthly Archives: February 2014

Moving up? Do It Now!!

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Justin Miller with Primary Residential Mortgage shared this great information with us. This is a great article from KCMBlog.com that  demonstrates how important these low rates are if you have any current or past clients that are looking to move up into a bigger home anytime soon.  I hope you find it informative. 

 

A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in fact, be in that first category: a move-up buyer. We want to address this group of buyers in today’s blog post.

                                            

There is no way for us to predict the future but we can look at what happened over the last year. Let’s look at buyers that considered moving up last year but decided to wait instead. 

Assume they had a home worth $300,000 and were looking at a home for $400,000 (putting 10% down they would get a mortgage of $360,000). By waiting, their house appreciated by 13.8% over the last year (national average based on the Case Shiller Pricing Index). Their home would now be worth $341,400. But, the $400,000 home would now be worth $455,200 (requiring a mortgage of $409,680). 

Here is a table showing what additional monthly cost would be incurred by waiting:

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 Prices are projected to appreciate by over 4% and interest rates are also expected to rise by as much as another full percentage point. If your family plans to move-up to a nicer or bigger home this year, it may make sense to move now rather than later.

So If you friends or family are ready to make a move, give us a call to help you find that new home, hook you up with a great lender and make the transition as smooth and pleasurable as possible. Call the team that helped 50 families buy and sell their homes last year. Experience that serves you well!

Robyn and Claudio Petasne Real Estate Team 954-770-6850       www.ClaudioPetasne.com

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Top Producer 2013!

Top Producer 2013!

Thanks to all our friends and customers who made our year so successful. Together we helped 50 families buy and sell their homes.
If you know someone who needs a great team of Realtors refer us with confidence that we will take great care of them.

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Get the Family to Pitch In: A Mom’s Advice on Chores

Get the Family to Pitch In: A Mom’s Advice on Chores

Foster teamwork and a sense of ownership about housekeeping to lighten your load and even boost togetherness.

Will 2014’s New Mortgage Rules Affect You?

Profile PicKeller Williams’ Claudio & Robyn Petasne Emphasize The Importance
of Finding the Right Real Estate Partners.

Changes to the home loan industry seem to be more the exception than the rule. But 2014’s new changes taking effect on January 10 are intended to protect the buyers, according to South Florida realtors Claudio and Robyn Petasne.

“The first major change is related to what the Consumer Financial Protection Bureau calls ‘qualified mortgages,’” Robyn says. “Qualified mortgages are intended to protect the buyer because they are ones the buyer can afford to repay.”

In 2014, qualified mortgages mean lender cannot take fees higher than 3 percent. Lenders also cannot grant loans that would exceed your debt-to-income ratio by 43 percent.

These new laws may protect homebuyers, but Claudio points out that he also views his and Robyn’s job as having a similar pathway.

“We want our buyers to be in their dream homes, but we also want to them to be in dream homes that means they don’t have to limit their lifestyle due to their mortgage payment,” Claudio says. “Our experience in South Florida real estate and our close partnerships with lenders means we can work with buyers to get the right house at the right price.”

One such partnership is with Priority Lending, where Dan Longman, President and CRMS, works with the Petasne’s buyers to obtain affordable mortgages.

“Our fees never exceeded this 3 percent mark and are typically around the 2.5 percent range,” Longman says. “However, as wholesale lenders, we are really able to offer a greater variety of loans in the first place. Even with these differences and changes in 2013, we’ve been able to navigate these waters with realtors like Claudio and Robyn and help their homebuyers move into homes.”

Buyers’ Outlook for 2014
As for the buyers’ outlook in South Florida for 2014, both the Petasnes and Longman are seeing more and more buyers qualify for loans in a timely fashion.

“One of the biggest challenges in 2013 is that the market seemed to be flooded at times with investors that were snapping up homes,” Longman says. “This meant well-qualified buyers were losing out to investors coming in and paying cash. But investment companies are backing off, which leaves more room for buyers.”

Having realtors that know the market well and always seem to know where the next best property for a homebuyer is can equal greater success, Robyn says.

“Our goals for 2014 are to help more buyers than ever to realize their dream of home ownership or to move into a home that’s a better fit for their needs,” she says. “We are prepared to help them navigate any changes to mortgage requirements and are proud to work with the right partners to help them get there.”

To find out more about how Robyn and Claudio can help you find or sell a home, call their office at (954) 770-6850 or by cell phone at (954) 260-5570.

You can also visit:
Facebook: https://www.facebook.com/SFL.HomeSales
Blog: https://greatlivinginwestbroward.wordpress.com/
YouTube: http://youtu.be/umUg-Bm1Pdc
Search for Homes Here: http://www.FtLauderdaleRealEstateForSale.com
Testimonials: http://www.zillow.com/profile/ClaudioPetasne/