An Important End-of-Summer Message About Our Market

There are a few recent developments we would like to share with you
as our summer season draws to an end.

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Now that we’ve entered into the second half of summer, it is time to take a look at what developments have taken place in our market lately. 

Inventory has been on the rise. This typically indicates a shift in the market, which is not necessarily a bad thing. It actually happens all the time, as real estate is very cyclical. That being said, selling before this shift takes place may be a good idea.

Our market has been favoring sellers recently, but now things seem as though they are beginning to balance. As the end of summer draws near and the school year approaches, the opportunity to capture current market conditions will fade. So if you have been thinking of listing, don’t delay.

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As the end of summer draws near and
the school year approaches, the opportunity
to capture current market conditions will fade.

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As a final note, don’t forget that Florida’s Tax-Free Weekend will be taking place between August 3 and August 5. Those with children in school won’t want to miss this chance to purchase school supplies with no state tax.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

5 Things to Keep in Mind That Can Prevent a Home From Closing

Many things can go wrong with your home purchase that can slow the closing process down. Today I am joined by Evan McDonough to give you five things that you should be aware of to keep your closing on track.

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I am joined today by Evan McDonough of Family Mortgage to talk about pitfalls that can prevent a home closing from happening on time and how to avoid these common missteps as a buyer.There are a few important precautions all buyers should take as they embark on their home search. Today I'd like to list five things, in particular, to keep in mind if you're about to begin this process yourself.

1. Maintain your credit score. Lenders will first pull your credit score during the pre-approval process, but will also monitor it throughout the transaction. So avoid taking out unrelated loans or making major purchases during the home buying process. It's important to keep your credit score consistent as you apply for financing for your future home. I recommend that you consult with your lender about the specific variables that could impact your score.

2. Maintain your current employment status. Believe it or not, you have to have the same job during your pre-approval as you do at your closing, so do not change your job. We have to verify employment within ten days of closing for every single client. Even if you get a new job lined up, do not quit your current job. Doing so will stop the loan process.

3. Make sure assets in your bank account can be verified. Do not put actual cash into your bank account, because where that cash came from cannot be verified. If you have cash in your home, do not put it into your account right before closing. Talk to your lender about how to verify your assets.

4. Read and sign the closing disclosure. Four days before the closing date, you will have to sign a closing disclosure. Making sure everything is in order with your closing disclosure is critical, because this will indicate whether you're set to close on time. While working with your lender, ask them if you are on track to have your closing disclosure signed, because that will indicate whether you’re on track to close on time. If you’re selling your current home before closing on the new one, make sure your lender gets your sale of home closing disclosure. If you have this document prior to or on the day of closing, make sure you give it to the lender. This will enable them to fund the purchase and give you the keys on time.

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Do not put actual cash into your bank account, because where that cash came from cannot be verified.

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5. Watch out for wire fraud.Wiring scams have become a significant issue in our market. You may receive false instructions via email from a scammer posing as someone legitimately affiliated with the transaction. Before wiring any funds, verify that the instructions are legitimate. Call your agent, title company, or lender to make sure they were truly the ones behind the email you received. Picking up the phone and having a conversation could help you avoid a mistake that could potentially compromise your home purchase.

At the end of the day, verify everything verbally. If you have any questions, pick up the phone and talk to your lender or agent to make sure before you don’t do anything to potentially compromise your major purchase.

If you have any additional questions for Evan about lending, you can contact him by calling (561) 625-2660 or by email at evan@familymortgage.com.

And, as always, if you are interested in buying or selling, please feel free to contact me by phone or email. I look forward to speaking with you soon.

Evan McDonough
Family Mortgage
(561) 625-2660
evan@familymortgage.com

Taking a Break From Real Estate to Talk About… Guinea Pigs?

What does it take to care for a guinea pig? More than you probably think.

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Today we’ll be talking about a very important topic to us here at the Simmonds Realty Team: Guinea pigs.

If you’re scratching your head right about now, allow me to explain. I’ve encountered many people who while trying to manage their real estate goals are also dealing with children begging them for a new pet. And when the begging begins, parents are likely to hear about all kinds of pets their child would just love to have.

Of course, before you invest in any pet, it’s critical to do your research. This is especially true for pets like guinea pigs, who have attributes and needs that some people might not be aware of.

Personally, I love guinea pigs. I even have one of my own, named Rosie, who you can see in the video above. So now that you understand why we’re covering this slightly unusual topic, let’s dive right into what you should know about guinea pigs.

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Guinea pigs and other animals can be a larger commitment than people realize.

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1. Guinea pigs are very affectionate. They require a lot of love and attention. So it’s important before purchasing one to consider the time you’ll need to dedicate to properly caring for them.

2. They are expensive in the long run. While a guinea pig itself will cost just about $30, caring for this pet can amount to thousands of dollars in expenses. Guinea pigs can live between seven to 10 years. So make sure you’re ready for a long-term commitment before purchasing a guinea pig of your own.

3. Guinea pigs shed. Though it isn’t something many consider-you can be allergic to guinea pigs. So be sure to keep this in mind.

4. They require maintenance. Guinea pigs need to be regularly brushed and their cages must be cleaned every four to five days. Beyond that, these pets must be emotionally stimulated.

So, in conclusion, please be mindful and do your research when purchasing a family pet. Guinea pigs and other animals can be a larger commitment than people realize.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.