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Q2 2017: . With mortgage rates for a 30 year fixed at around 3.85%  (5/30/17), and the 15 year fixed just a fraction above 3% (5/30/17), it's still a great time to buy. JW Florida Real Estate Services has been on a roll with 4 deals currently under contract, with a downtown Delray Beach property closing next week and 3 others in July! We offer personalized representation for many types of buyers including luxury, waterfront & new construction. 

Principal Reduction: Remember the best part of a fixed mortgage is the principal reduction each month. Principal reduction pays down your mortgage balance, so that whether it's your home or an investment property, each month, the mortgage balance goes down and, assuming the real estate value does not go down over time (big assumption we know - but unlikely nonetheless), the principal reduction is simply forced savings/return on investment! On a $500,000 mortgage at 3% for 15 yr, the principal reduction annually is over $26k year 1, and over $30k annually by year 5. Truly an incredible "forced" wealth builder"

Simply to remember: The lower the interest rate, the more principal reduction monthly. The shorter the mortgage term, the more principal reduction monthly. 

Q1 2017: President Trump takes office in January 2017, what will be the impact on South Florida, namely Palm Beach county real estate? Well, according to the experts, the 45th president should be an overall positive for the real estate market. Trump is expected to lower regulations which should in turn lower the costs of compliance by banks, offering smaller banks the ability to compete with the big banks for the first time in many years, thereby increasing the amount of available credit. Trump's team has also suggested removing Fannie Mae & Freddie Mac from the public sector, and privatizing them instead. Did you know that the bailout funds have been repaid in full by Fannie & Freddie !? New construction continues to thrive at the high end, and struggles to provide housing for the first time buyer due to higher labor costs via labor shortages in the construction industry. The market just can't figure out how to build a $200k starter home or retirement home with the high costs in so many areas - labor, land, govt. regulations, etc. 

Real Estate Market Update: On the national level, home affordability is significantly down, putting stress on many first time home buyers, included here in Palm Beach county. While the median price of existing homes is up 62% since January 2012, median family income has only increased 11%! SO - wages are creeping up at about the rate of inflation, while real estate values have skyrocketed off the financial crisis lows of years past. What does this mean to you? Well, if you're a cash buyer - not much, other than, as you probably already know, values have increased and transitioning the Palm Beach county market from a buyers market (2010-2014) to a sellers market (2015->?). If you're a seller, this could be an ideal time to cash out and take some of your earned equity. Investors - hang tight, not much (ok, none) inventory that makes financial sense in the sub $250k categories. With prices at their current levels, new development and speculative building is looking more enticing than it has in many years. 

Q4 2016: Buyers: Take advantage of all time low mortgage rates and buy or invest in a Palm Beach county property. Sellers: Own a property in Palm Beach county that you've thought about selling? If so, now may be the best time in years to list and sell it, as real estate listings/inventory is at a multi-year low and prices are up. The median sale price among single family homes is up 10.5% from Q2 2015 to Q2 2016. The median sale price among townhomes & condos is up 13.2% from Q2 2015 to Q2 2016. Median % of Original List Price Received is for single family homes at 94.2% of list price, and 93.5% for condos in Q2 2016.

Buying New Construction in Palm Beach County?

Here are some reasons to use a buyers agent (may we suggest - Jesse M Winner, Broker of 1) the builder's representative on site works for the builder and has their best interest in mind, including their fiduciary interest - while we represent your interests. 2) an experienced buyer's agent can either help you interpret the contract or refer you to an established real estate attorney who can explain the contract to you in detail (including your 3 day right to rescind on Florida new construction). 3) an experienced realtor/buyer's agent can help you choose the options packages and colors with the best ROI (return on investment), so that when you go to resell, you will not only get your money back, but hopefully make a big profit! 4) professional help in choosing the ideal lot for you & your family. 5) a trained set of eyes, on your team, for the pre-closing walk through and punch list check