Friday, November 4, 2016
The 4 Emotions of the Home-buying Process
The 4 Emotions of the Home-buying Process: More often than not, a buyer’s decision to purchase a new home is based on emotion, not logic. While they may have a checklist that includes the number of bed
Thursday, November 3, 2016
Wednesday, November 2, 2016
Tuesday, August 16, 2016
Buying Remains 38% Cheaper than Renting!
In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide!
A recent study by GoBankingRates looked at the cost of renting vs. owing a home at the state level and concluded that in 36 states it is actually ‘a little’ or ‘a lot’ cheaper to own, represented by the two shades of blue in the map below.
One of the main reasons that owning a home has remained significantly cheaper than renting is the fact that interest rates have remained at or near historic lows. Freddie Mac reports that rates fell again last week to 3.43%.
Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.
How To Use Mental Mortgage Math
Let’s use a 6% interest rate as an example:
Payments - The payment for principal and interest equals about $600 on a $100,000 30-year loan. Use this as your benchmark. (Actual is $599.55.)
Principal Paid - At this rate, figure 1/10th of 1% of the loan amount each month. Example: $100,000 loan = $100 of principal paid. (Actual figure starts at $102.33, increasing with each payment.)
Interest Paid - Subtract the principal from the payment to determine the approximate cost of interest. Example: $600 payment - $100 principal = $500 interest.
As rates change all the time, call for an update on current levels, and we'll calculate a current benchmark applicable to today's markets.
Mental Mortgage Math is not meant to replace your calculator but is a great way to estimate numbers quickly on the fly. Call when you want us to do the rest.
How Do Rising Prices Impact Your Home Equity?
Yesterday, we shared the results of the latest Home Price Expectation Survey by Pulsenomics. One of the big takeaways from the survey is that over the next five years, home prices will appreciate 3.5% per year on average, and cumulatively will grow by around 18%.
Since the experts predict that home prices will increase by 4.5% this year alone, the young homeowners will have gained over $11,000 in equity in just one year. Over a five-year period, their equity will increase by over $46,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family's overall net worth.
So what does this mean for homeowners and their equity position?
For example, let's assume a young couple purchased and closed on a $250,000 home in January of this year. If we only look at the projected increase in the price of that home, how much equity would they earn over the next 5 yrs
Since the experts predict that home prices will increase by 4.5% this year alone, the young homeowners will have gained over $11,000 in equity in just one year. Over a five-year period, their equity will increase by over $46,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family's overall net worth.Bottom Line
Not only is homeownership something to be proud of, it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!Monday, August 15, 2016
Top Producing Agents in 2012
Top 100 Producing Agents of 2012
- Congratulations to the following PRO members for being the top producing agents in Pinellas County in 2012! Keep up the great work and make 2013 a prosperous and successful year!
1 Martha H. Thorn Coldwell Banker Residential 2 Dania Perry Century 21 Jim White & Associates 3 Alexander Jansen Coastal Properties Group International 4 Rafal Wazio Sand Key Realty 5 Nancy S. Leslie RE/MAX Realtec Group Inc 6 Gary A. Ubaldini Keller Williams Realty 7 Tammy Campbell-Plummer Coldwell Banker Residential 8 Carole W. Merritt Coldwell Banker Residential 9 Rhonda Sanderford & Marian YonMaguire Smith & Associates Real Estate Inc 10 Wendy L. Lockhart Lockhart & Associates Real Estate LLC 11 Sandra A. Hartmann Realty Executives Adamo 12 Debbie Newman & Scott Allen Smith & Associates Real Estate Inc 13 Clifford L. Roe Cliff Roe Realty Inc 14 Kenny R. Hayslett RE/MAX Realtec Group Inc 15 Donna B. Nettestad RE/MAX Realtec Group Inc 16 John E. Keller Jack Keller Inc 17 Peter G. Chicouris Equity Realty of Pinellas Inc 18 Steve Busse Re/Max All Star 19 Scott A. Samuels Keller Williams St Pete Realty 20 John H. Dietz RE/MAX Realtec Group Inc 21 Pat Kelly Coldwell Banker Residential 22 Peggy W. Naruns Northstar Realty 23 Marcy S. Daniels Coldwell Banker Residential 24 Richard K. Doyle Richard Doyle Real Estate 25 Lori L. Famiglietti Keller Williams St Pete Realty 26 Michael A. Lynch Coldwell Banker Sun Vista 27 Estelia M. Mesimer Keller Williams St Pete Realty 28 Cynthia A. Fazzini RE/MAX Realtec Group Inc 29 Natalie R. Barone RE/MAX Realtec Group Inc 30 Debi A. Balogh Coldwell Banker Residential 31 Terry L. Tillung PA Coldwell Banker Residential 32 Sandy Papadakis RE/MAX Realtec Group Inc 33 Raymonda Abunassar Coldwell Banker Residential 34 J Matthew Brashear Re/Max Elite Realty 35 Dave and Maggie Smith RE/MAX Metro 36 John B. See Results Real Estate Inc 37 Thomas E. Hallis Coldwell Banker Residential 38 Frank Malowany Smith & Associates Real Estate Inc 39 Deborah L. Garrigan Garrigan & Assoc Realty Inc 40 Tom Smith Coastal Properties Group International 41 Linda Caruso Keller Williams Realty 42 Barbara G. Zaccaria Coldwell Banker Residential 43 Christopher S. Hounchell Keller Williams St Pete Realty 44 Kim Beiningen Century 21 Beggins Beach Properties 45 Dottie J. Nash Sand Key Realty 46 Steve J. Capen Keller Williams St Pete Realty 47 Kathryn Krayer Zimring RE/MAX Metro 48 Ronald J. Jackson Coldwell Banker Residential 49 David Price Coldwell Banker Residential 50 Peter P. Nemethy RE/MAX Metro 51 Debra E. Cunningham The Debbie Cunningham Team 52 Dean D. Ribble Re/Max 1st Class Realty 53 Bonnie Strickland RE/MAX Metro 54 Tami R. Doll Coldwell Banker Residential 55 Alona Dishy Realty Executives Adamo 56 Sandee D. Dillon-Mooney RE/MAX Realtec Group Inc 57 Allison Estabrooks Re/Max Preferred 58 Richard W. Blake RE/MAX Realtec Group Inc 59 M Sam McLaughlin RE/MAX Realtec Group Inc 60 Julie A. Folden Coldwell Banker Residential 61 Gregory R. Chassin RE/MAX Metro 62 Cynthia Serra & Connie Lancaster Smith & Associates Real Estate Inc 63 Debbie Momberg & Colleen Stratton Smith & Associates Real Estate Inc 64 Susan Carl-Singleton JMC Resort Properties, LLC 65 Jacqueline B. Diaz Keller Williams Gulfside Realty 66 Alison D. Bearnarth Smith & Associates Real Estate Inc 67 David P. Grieco Coldwell Banker Sun Vista 68 J. David Vann RE/MAX Metro 69 Stephen L. Kepler Engel & Volkers Clearwater Downtown 70 Angela I. Morris Keller Williams Gulf Coast Seminole 71 R Andy Burwell Jr PA SFR Keller Williams Gulfside Realty 72 Kathie C. Lea e-PRO, CDPE RE/MAX Realtec Group Inc 73 Donna L. Miller RE/MAX Realtec Group Inc 74 Belinda S. Bishop Keller Williams Gulfside Realty 75 Retha M. Wright Prudential Tropical Realty 76 Carol E. Giovannoni Re/Max Preferred 77 Angela J. Clark RE/MAX Realtec Group Inc 78 Kathy Rodriguez Florida’s Best Homes Realty LLC 79 Thomas L. Drapp Coldwell Banker Residential 80 Gayle Roffis Premier Sotheby’s International Realty 81 Bobbie D. Kaplan Weichert Realtors Sun Sand & Sea 82 Tim Miles Eagle Crest Realty 83 David W. Swanson Smith & Associates Real Estate 84 Karen A. Vommaro RE/MAX Realtec Group Inc 85 Kevin P. Gallagher Coldwell Banker Residential 86 Jill Helgren Century 21 Jim White & Associates 87 Timothy J. Malloy Realty Executives Suncoast 88 Judy R. Eaves Coldwell Banker Residential 89 Jeffrey C. Joyner Keller Williams St Pete Realty 90 Scott A. McNay RE/MAX Action First 91 Nadine Appelt Keller Williams St Pete Realty 92 Deborah Zito Smith & Associates Real Estate Inc 93 Garges P. Purtee Realty Executives Homes in Florida 94 Debra J. Nobile Golf Host Securities Inc 95 Luigi Kalaj RE/MAX Realtec Group Inc 96 Aaron & Brooke Hefte & Sarah Buns RE/MAX Metro 97 Marsha Gordon Coldwell Banker Residential 98 Jamie L. Everett RE/MAX Realtec Group Inc 99 Eileen A. Bedinghaus RE/MAX Metro 100 Joe G. Vavricka RE/MAX Realtec Group Inc
Subscribe to:
Posts (Atom)