Are you looking for a home now? This may be the best time to make a purchase.
• Demand for homes has been lessening recently so you don’t have to make a quick decision on what home to purchase.
• There’s less competition so you’re less likely to get entangled in bidding wars.
• It’s becoming a buyers’ market. You can make an informed, intelligent decision because houses are staying on the market longer. You have the opportunity to see a variety of homes and not have to choose a home that doesn’t meet your requirements.
• You have a higher probability of being able to negotiate the purchase price of a home as opposed to the “take it or leave it” attitude that ruled the market previously.
• You can look for homes that have a recent price reduction and have been on the market for a while. These homeowners are more likely to be a “motivated” seller who will be willing to accept an under the asking ...

Builders are almost giddy. An Index of 50 suggests a balance between optimism and pessimism, but Nov.’s confidence number hit 90 after a record-breaking 85 in Oct.

WASHINGTON – Calling it “another sign that housing continues to lead the economy forward,” builder market confidence for newly-built single-family homes increased five points to 90 in November. It shattered the previous record of 85 set in October, according to the latest NAHB/Wells Fargo Housing Market Index (HMI).
Builder confidence levels hit successive all-time highs in each of the past three months.
“Historically low mortgage rates, favorable demographics and an ongoing suburban shift for homebuyer preferences have spurred demand and increased new home sales by nearly 17% in 2020 on a year-to-date basis,” says NAHB Chairman Chuck Fowke. “Though builders continue to sign sales contracts at a solid pace, lot and material availability is holding back some building activity. ...

Average 30-Year Mortgage Rates Rise Slightly to 3.18%

Last week’s record-breaking low for 30-year fixed-rate mortgages (3.15% – the third historical low this year) rose marginally to 3.18% this week.
BALTIMORE (AP) – Long-term mortgage rates increased slightly as the U.S. economy showed signs that the worst of the coronavirus-fueled recession may have passed.
The average interest charged on a 30-year mortgage was 3.18% this week, up from 3.15% a week ago, according to a report Thursday by mortgage buyer Freddie Mac. That average is down from 3.82% a year ago.
The economic collapse following the COVID-19 outbreak has corresponded with a decline in mortgage rates. But there are signs that the economy may have already bottomed as government data shows that applications for jobless aid – though still historically high – are steadily falling.
The average 15-year mortgage rate was unchanged from last week at 2.62%. This average has fallen from 3.28% a yea ...

They may not get as much attention as freestanding houses, but the supply of condominiums has outpaced the supply of single-family homes for the past year, according to the National Association of Realtors.
With so many condos on the market, it makes sense for South Florida homebuyers to give them a look. There is nothing like owning a condo that’s right “on the sand’ affording the owner an ocean view and access to the beach. A condo (short for "condominium") is a private residential unit within a multiunit building, project, or community. While the residences are usually apartment-like—they share walls—they can also be semidetached, like townhouses, or even fully detached, too. The residences frequently share common areas, facilities, and amenities, swimming pools and internal garages.

Looking for a South Florida Condominium?
Contact Burton Horwitz Realtor
Keller Williams Realty
561-289-5939
www.southeastfloridahomesource.com
PROS OF BUYING ...

You can search and view homes online at my website and when you've found the perfect home, I can arrange a virtual tour for you. Everything necessary to purchase the home can be done remotely..
Please contact me for more information
Burton Horwitz Realtor
Keller Williams Realty of Boca Raton
The Southeast Florida Home Source Team
561-289-5939
www.southeastfloridahomesource.com  ...