Boynton Beach

National Pet Culture Effect on Boynton Beach Home Sales

No sooner has Sunday’s Super Bowl brouhaha begun to fade from public attention than another mega-sporting event prepares its entrance. This one will draw less Supercharged ratings, but that doesn’t mean it won’t claim equally rapt attention in many Boynton Beach households. Next week will see the celebration of America’s beloved four-footed athletes: the Westminster Dog Show—since 1877, the pinnacle of American canine achievement (considerably more important than Sunday’s Puppy Bowl).

This year, the proceedings will expand to four days—the culmination of which will be next Tuesday’s Best in Show finale, televised from Madison Square Garden. You can bet that scads of Boynton Beach TVs will tune in to see which of the canine contestants (alongside their two-legged handlers) earn Top Dog honors. Many Boynton Beach dog show fanciers will be able to avoid the expensive outing to Manhattan by attending the proceedings from right here—streaming all the early stages, breed-by-breed, via https://www.westminsterkennelclub.org/tv-schedule/.

The growing national fascination (and infatuation) with canines has repercussions that touch upon Boynton Beach home sales. Last spring, Realtor Magazine focused on pets as “Real Estate Influencers”—noting that pet ownership is booming throughout the land to such an extent that now a full third of pet-owning clients will often (“or maybe very often”) refuse to make offers on homes that aren’t ideal for their four-legged friends.

The takeaway for Boynton Beach homeowners whose properties have pet-friendly attributes is not to be shy about promoting them. The numbers support that conclusion....

Last Week’s Boynton Beach Mortgage Rates Exceed Expectations

Boynton Beach’s home loan picture has presented buyers with rarely seen benefits for quite a while—but last week, the picture brightened even further. That isn’t to say that Boynton Beach mortgage rate quotes matched all-time lows—but they were coming pretty close.

Across the U.S., the numbers quieted even the most pessimistic observers. What it will mean as Boynton Beach enters the traditional peak home sales months is something we will have to wait to see. But if the likelihood for a surge in nationwide activity is any indicator, last week saw green lights flashing. A sampling of what was being hailed from virtually all quarters:

The Wall Street Journal: “Falling Rates Could Boost Mortgages Ahead of Spring Selling Season.”

MarketWatch: “This could be the ‘last affordable’ spring home-buying season for a while…”

CNBC Power Lunch: “The average 30-year fixed fell to 3.71%—almost a full percentage point lower than a year ago—and that sent current borrowers rushing to refi.”

FreddieMac.com: “The 30-year fixed-rate was the lowest in three years.”

Mortgage News Daily found the rate drop surprising—actually convention-defying. Rates “managed to move appreciably lower” despite Friday’s strong showing in the employment numbers. “Today’s big jobs report” should have led to higher mortgage rates. That it didn’t was an indication of “some more staying power” than industry experts usually expect.

The technical factors affecting home loan rates are difficult...

Maximizing Boynton Beach Home Sales with Steamy Features

The selling price that any Boynton Beach home brings depends on any number of factors, the most critical of which is most often how it stacks up alongside its neighborhood comparables. If its comps are in line, the property is virtually certain to attract interest. If overpriced, it’s likely to attract little interest; if bargain-priced, it’s sure to draw a crowd.

Studying the significance of the many other factors that contribute to how a home sale fares is a tricky business. Predicting what an “expected sale price” for any Boynton Beach home would be is a necessary starting point—yet that figure would have to depend on any number of factors, all of which combine to create how the house shows.

That being said, it’s still interesting to see what the researchers come up with when they cull through the hundreds of thousands of national home listings, looking for listing features that coincide with better-than-expected final sales prices. Zillow Research does this from time to time—most recently coming up with a “top 10” list that offers few surprises, except for one: that’s a “steam” thing.

The top ten listing features include “professional appliance” (meaning at least one quality  brand name appliance), “outdoor kitchen,” “prep sink,” “waterfall countertop,” “wine cellar,” and “heated floor.” It’s not surprising that the majority are features found in gourmet kitchens and well-designed bathrooms. One feature you might not predict is “Pot filler”: that’s the faucet located on the backsplash behind a range or cooktop. Pot fillers are relative newcomers in popularity. Non-kitchen features listed were...

2020 Predictions: Good News for Boynton Beach Home Sellers

 If the commentary from TheStreet.com is on-target, “housing and real estate experts” are largely in agreement about how real estate will fare in the coming year. If the local scene falls in line with their predictions, it will be a good year for Boynton Beach home sellers.

That’s not to say the prognosticators haven’t left themselves some wiggle room—a good idea since future events rarely completely conform to expectations. But the drift of TheStreet’s 12 top predictions does point in a direction that holds ample encouragement for Boynton Beach home sellers. High points:

  • There are many factors that point to a “more competitive” housing market. As fewer sellers list their properties, buyers will vie for what’s out there.
  • A “return of bidding wars” is possible. Redfin is the most optimistic, putting a figure to the result—with the first half of 2020 notching prices up 6% year-over-year. In the second six months, it expects supply and demand to halve that rate.
  • Mortgage rates are expected to “stabilize at the low end”—further encouraging buyers to strengthen offers.
  • In the event that a recession occurs, housing won’t be affected. Again, the low inventory picture is expected to shield sellers.
  • Overall, with demand exceeding supply and first-time buyers newly becoming “a very significant component” of the market, U.S. home values should rise.

These predictions do fall in line with trends already in place, so no raised eyebrows should result. Potential Boynton...

Where is Boynton Beach Real Estate Headed? The 2020 Predictions

Now that we’re almost to Thanksgiving, we find ourselves at the traditional moment when real estate’s soothsayers dust off their crystal balls and get busy. In the coming weeks, they will go to press with their projections, informed guesses, and unbridled hunches about how real estate will fare in the coming year.

Everyone contemplating Boynton Beach real estate transactions in 2020 will be affected to some degree by shifts in the national disposition, so it’s always worth keeping an ear open to the experts’ conversations—their projections do influence what actually comes to pass (even if they’re ultimately off-target).

Last Friday’s Forbes release led the pack this year with Senior Contributor Aly Yale’s roundup of six opinions from Forbes-selected mortgage, real estate, and housing experts. For Boynton Beach readers hoping to gain fresh insights about the coming year, the consensus views were less than electrifying: if any big changes are hovering over the horizon, the experts are keeping them on the q.t.

Details:

Housing.  Throughout 2019, housing inventories have remained limited, in large part because people are choosing longer stays in their current homes. One study found that the average duration was 8 years in 2010—but is now 13 years. Says O. Kushi, chief economist for First American title insurer, “you can’t buy what’s not for sale;” hence, the cap on housing sales. The prediction for 2020? More of the same.

Real Estate: With interest rates low and incomes climbing, the share of younger buyers has been growing. Even so, it has still been an uphill battle due to higher prices and a dearth of starter homes. For 2020? Expect...

Inheriting Boynton Beach Homes: Not without Issues

The wisdom behind the truism that there’s no such thing as a free lunch can even apply in a context as virtuous as inheriting Boynton Beach homes. Parents bequeathing the family home—or generations passing down the ancestral vacation cottage—are intended to be acts of unalloyed generosity. But common to many commentaries on the subject are some common unintended consequences. For Boynton Beach homeowners who have ever weighed the idea of passing the family homestead onto their progeny, it’s a point worth exploring.

 The most acrimonious outfalls surface when multiple heirs are involved. Since individuals fare differently as careers develop and life’s opportunities and challenges unfold, the obligations accompanying homeownership present difficulties for some heirs more than others. Given the fact that taxes, insurance, utility bills, and maintenance expenses are ongoing even for a property that is debt-free, the choice of which possible disposition (occupying, renting, or selling) may affect heirs very differently.

Overlaying the financial outfall is the likelihood that the latter two income-generating solutions are bound to raise sentimental issues when clearing the property for sale or new tenants. The emotional stress often causes heirs to avoid cleaning out an inherited property, sometimes, for years. Says Rhea Friedman, a CFP in Manhattan, “Not selling a house and not living in it makes for increased maintenance and insurance costs without much to show for them.”

The best solutions seem to result when everyone can summon “their best selves” to cooperate in formulating a precise agreement spelling out how ongoing expenses and obligations will be shared. Another variation is for the donors to engage Boynton Beach legal help to create a framework that addresses...

A Break for Some Boynton Beach Real Estate Transactions

Last week ended with some good news that can affect many Boynton Beach real estate transactions—specifically some with bottom lines equal to $400,000 or less. It came in the form of a rule change from Washington’s rule-makers, and whether or not it applies to your own property, it may signal a shift in regulatory outlook.

 Many Boynton Beach real estate transactions are subject to Federal regulations—rules devised to ensure the soundness of the financial institutions that provide home loans. Theoretically, everyone who buys or sells Boynton Beach real estate should benefit from legal regulations that restrain lenders from granting loans too easily. When that takes place, widespread “easy money” usually results in the kind of abrupt return to reality we saw in the last decade. Nobody wants that!

One way regulators prevent residential real estate “bubbles” is by seeing that home loans are legitimately collateralized—that home loan amounts don’t exceed the real value of the underlying properties. That’s realized by requiring that strictly professional appraisals be performed. Appraisals demonstrate that homes true values equal or exceed proposed loan amounts.

But—it’s always a balancing act. Appraisals take time and cost money—making buying and selling that much more cumbersome. Any regulation that is too strict unnecessarily retards legitimate Boynton Beach real estate transactions. Over time, that’s what had happened with the appraisal requirement.

Last Friday an official press release announced a lightening of the appraisal requirement. The Federal Reserve, FDIC, and Office of the Comptroller of the Currency “have adopted a final rule that increases the threshold for residential real estate...

Monday’s Equinox Ends Summer—but the Fed Signals Heat

For astronomers and TV weather forecasters, this Monday marked a red-letter day. It now seems as if the same could be said for Boynton Beach’s market prospects.

In the wee hours, the Sun arrived at one of the two places in every year where its path across the sky crosses the celestial equator (the imaginary line above Earth’s equator). Of course, for Boynton Beach residents, the reality is that it’s pretty much a non-event. Weather-wise, the equinox is an abstraction. The change of seasons creeps slowly, day-by-day, Monday being no exception.

Still, at Tuesday’s dawn, the last day of Boynton Beach’s summer has passed. Whether you call it ‘autumn,’ ‘fall,’ ‘Indian Summer,’ or anything else, the new season is upon us.

And in Boynton Beach real estate terms, it brings new reason to suspect that this fall could be a busy one. One indicator came last week, as Reuters noted that U.S. home sales “unexpectedly rose to a 17-month high” in August.

More directly, last week’s second straight cut in the fed funds interest rate augurs well for Boynton Beach sellers and buyers alike. With lower Boynton Beach mortgage rates “continuing to encourage buyers off the sidelines” (Reuters), it wouldn’t be surprising if the market continues to heat up. Despite the Sun’s ducking down past the Equator, it looks to be a propitious time to buy or sell Boynton Beach homes. That makes it an equally propitious time to give me a call!

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What Qualities Do Top Boynton Beach Real Estate Agents Share?

If it’s the first time you have ever bought or sold a house, don’t fret if you’ve found yourself procrastinating—who wouldn’t? Most people are at least temporarily paralyzed by the immensity of the undertaking. The same applies to many of Boynton Beach’s current homeowners whose last real estate foray happened years ago.  

Even so, veteran home buyers and sellers have the advantage of knowing that Job One is to establish a trusting relationship with an experienced Boynton Beach real estate agent. Experienced folks may do at least some preliminary groundwork—checking out the current crop of properties being offered—but in the end, they know how the single step of teaming with the right agent accomplishes the vital job of removing the guesswork from all that follows.  

The tricky part is identifying the right real estate agent. There’s no shortage of how-to articles on the subject—but in truth, the qualifying factors are simple, logical, and uncontroversial. They break down like this:

  • Experience. Top agents have piloted their clients through these familiar waters many times. They see snags before they arrive—and steer clear of them.
  • Energy. Top Boynton Beach agents are the real estate equivalent of the Energizer bunny. In the abstract, buying and selling homes is a paperwork job. In reality, it’s that and a non-stop, out-there-in-the-field profession.
  • Teamwork. A true team player is called for because top agents are flexible enough to be able to follow the direction of the client (you: the team captain) while working harmoniously with the full roster of other local Boynton Beach professionals. They will ultimately include Boynton Beach...

Avoiding Expensive Buyer Mistakes!

Buying a home in Boynton Beach– especially if it’s your first – can seem like it’s just a magnified version of any other major purchase. You’re the buyer—which makes you the boss. It can be as straightforward as that—but there are also several parts of the process where it’s all too easy for Boynton Beach buyer mistakes to cost not just time and frustration, but real money, too. Here are some common home-buying missteps:

1. Looking for a home before speaking about a mortgage.

Many first-time buyers make the mistake of viewing homes before making contact with a mortgage lender. This puts you behind the ball if a home you love hits the market, or if you wind up spending time and energy looking at homes that you can’t afford.

2. Talking to only one lender.

This one is a biggie! Buyers who get a mortgage from the first (and only) lender or bank they talk to are potentially leaving thousands of dollars on the table. The more shopping you do, the better basis for comparison you’ll have for ensuring you’ve landed the best deal.

3. Being careless with credit.

In the months leading up to a mortgage application, don’t open new credit cards, close existing accounts, take out new loans, or make large purchases on existing credit accounts. Maintain that practice through closing day.

4. Assuming you need 20% down payment

Delaying your home purchase while you save up for a 20% down payment can take years. That’s tying...