Did you know that about 2/3’s of homes in the United States are mortgaged? It’s a big number. Even more surprising is that about 2.5 million homeowners in the U.S. still have negative equity. Negative equity, often referred to as being “underwater” or “upside down,” happens when borrowers owe more on their mortgages than their homes are worth.
Hurricane Irma is still disrupting local mortgage repayments. It has by no means reached a point where we should be concerned about another meltdown in our market, but the impact shouldn’t be ignored. Before the hurricane, our market was showing significant year on year downturns in mortgage delinquency rates and foreclosures. The mortgage market looked about as healthy as it could get. Thus, the real estate market looked the same.
The visual advantages of drone videos have impacted the way that homes are presented throughout the internet. Prospective home buyers often shop online first, so they expect high-quality photography and video in the online listing or they often won’t consider the home.
Wishing you the many wonderful things that an Irish blessing will bring. Happiness, joy, love, and laughter, may your day be content and may you smile happily ever after! Happy St. Patrick’s Day!
Whether you are buying your first home or your last home, there are several things you will do right and some things that you may get wrong. One of our jobs is to help minimize the things that you may get wrong. Here are some tips for making sure the next home you buy is a sound investment for you and your family.