It is the last week of June -- "Great balls of fire!" as Scarlett O'Hara from the 1939 classic film Gone with the Wind would say. It is already unseasonably hot outside, and the quick passage of time (because time flies when you're having as much fun as I do) has made the month feel like fire. Here are some mortgage takeaways from the month that I've observed and want to share to help you on your way to homeownership:
June held many happing endings for my clients, including a condo purchase in the Celebration, Florida area, a manufactured home purchase in the St. Cloud area, and forever home for a Veteran hero and his VA loan in the Gibsonton, Florida area, among others. I worked very closely with my realtor partners to help these loans close smoothly and on time-- some of them ahead of schedule.
For example, my clients who purchased their condo in Celebration, Florida needed to close one week early due to summer travel changes, and we were able to efficiently and effectively make this change to the benefit of their schedule.
Rising gas prices are affecting the cost of everything, including new construction home purchases. Think about it . . . How are supplies for construction delivered to your new build home site? While it is wonderful to have a new home built from the ground up, economic conditions are making new builds less attractive than existing homes. I work with my clients to weigh the pros and cons of each carefully, so they can make confident buying decisions based on their home loan qualification.
Speaking of fire, while the Florida housing market is still hot in many areas, we are starting to see signs of cooling off in some niche markets. I don't want to speak too soon, but summertime is starting to look like a great time to buy. If you are on the fence about whether to buy now or wait, definitely reach out to me or discuss it with your realtor.
Despite this observation, there are still many Florida housing markets where your offer to buy a home will be competing with several other offers from eager buyers. In fact, several of my current clients will be placing their third, fourth, and fifth offers in the month of July. While this may on one hand be discouraging, their realtor and I work very closely to help them make their home offers as competitive as possible in this still largely seller's market. The ideal home for them is out there, and it's just a matter of time and the right conditions before their offer is accepted.
These are just a few hot and fast observations. While there are certainly many others, I'll conclude today's "Motivation Monday" blog with another famous line, delivered by Scarlett O'Hara: "After all, tomorrow is another day!"
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