South Florida Real Estate Blog by Shari Orland, Realtor

How Prospects are able to Buy a Home in Delray Beach and numbers are growing

 If you find yourself suddenly revisiting the idea of buying a home in Delray Beach, it won’t surprise you that you’re not alone. Lately, it’s seemed as if the stars are continuing to align to draw more and more people—first timers as well as those who are already Delray Beach homeowners—to make that decision. Last week ended with yet another inducement to point people in that direction.

The impetus didn’t arise from any local Delray Beach real estate event—although the traditional residential real estate busy season always helps spur activity. It came with an unexpected stock market rally that was universally attributed to an increase in the odds that the Federal Reserve was all but certain not just to hold interest rates steady—but to actually lower them further. The reason for the relative certainty came from a multiplicity of other market factors that pointed at a slightly negative market outlook. In the reverse tides of the financial world, that bad news is good when it’s likely to force the Fed to ease the cost of borrowing. As MarketWatch celebrated, “Get out the scissors—Barclays forecasts a half-point rate cut in July.”

Of all the factors that make buying a home in Delray Beach a tempting proposition, the back-of-the-envelope arithmetic that yields a monthly mortgage number that fits House A or House B inside the household budget is the most persuasive. When last week ended with all hands indicating that mortgage interest rates are poised to do just that, it provided a new reason to revisit this season’s Delray Beach listings. Some homes that had seemed beyond reach might soon be doable—it certainly seems worth another look. For Delray...

Utility Bill Budgetary Information

It’s around this time of year that the bottom line on Boynton Beach utility bills tends to begin to grow larger once again. Power and water consumption can’t help but rise as we bid farewell to Boynton Beach’s mild springtime conditions. Gardens and lawns get thirsty now that the days are growing longer, and once deep summer heatwaves develop, household utility bills report what happens when air conditioners and sprinklers are called into action.

For Boynton Beach householders who’d prefer avoiding a budgetary shock when they open utility bills this July and August, it’s good to recall that some of the most effective expense-cutting activities are also the most straightforward. They are so simple and so obvious, that, paradoxically enough, they’re easy to overlook (at least that’s what the USEIA tells us). Here are some of the most effective cost-trimming actions—they also benefit the environment:

Energy:

  • Replace incandescent bulbs with LEDs  
  • Shut down computers
  • Use power-miser power strips
  • Turn off the lights!!!
  • Use cold water (80°) in the laundry (except for synthetics and for sanitizing)
  • Eliminate “vampire” power (unplug idle electronics)
  • Run the washers (dish- and clothes-) only when fully loaded

Water:

  • Water outside only when...

Rate Surprise Could Energize Boca Raton Real Estate

On Friday, Boca Raton’s real estate outlook ended the busy month with a genuine surprise—one that could well augur an extension of Boca Raton real estate’s traditional peak selling season. The news was significant enough to move from financial sections to front pages and bottom-of-the-screen crawls on cable channels. Atop the Mortgage News Daily broke the story:

“Mortgage Rates Drop Well into the High 3’s”

 Even local residents who rarely pay attention to the nuts and bolts of Boca Raton real estate matters would likely have done a double-take at the “3’s” in that news flash. The “low home loan interest rate” phenomenon has been old news for quite a while, but those historically low rates have hovered in the 4’s since 2017. Since even tiny changes in mortgage rates translate into big savings for home buyers (so, too, for sellers), breaking back down into “3” territory could prompt a change of plan for both groups.

MND’s announcement that “Mortgage rates were decisively lower” was corroborated by reports that in some regions the most credit-worthy applicants were “now easily seeing quotes of 3.875%.” Another article pointed out that the dip constituted the lowest level in 16 months, while another described a wider improved real estate outlook “as we enter a low-interest rate environment.”

Since most Boca Raton real estate observers would have thought we were already in such an environment, the further movement was both truly unexpected and definitely welcome. Whether or not it will nudge...