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Orlando | Kissimmee | Saint Cloud Homebuying Tips Blog

Friday, July 10, 2020   /   by Erik Bjorklund

Half of Florida's COVID-19 deaths linked to long-term care

In a stark reminder of the toll of COVID-19 on seniors and their caregivers, slightly more than half of the reported deaths of Floridians from the disease are now linked to long-term care facilities, state figures show.

… Fidelity Home Group | Orlando Mortgage Company | Florida Mortgage

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Friday, July 10, 2020   /   by Erik Bjorklund

Taking Advantage of Homebuying Affordability in Today’s Market

Everyone is ready to buy a home at different times in their lives, and despite the health crisis, today is no exception. Understanding how affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down their optimal window of time to make a purchase.
There are three main factors that go into determining how affordable homes are for buyers:

Mortgage Rates
Mortgage Payments as a Percentage of Income
Home Prices

The National Association of Realtors (NAR), produces a Housing Affordability Index, which takes these three factors into account and determines an overall affordability score for housing. According to NAR, the index:

“…measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.”

Their methodology states:

“To interpret the indices, a va ...

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Thursday, July 9, 2020   /   by Erik Bjorklund

A Historic Rebound for the Housing Market

 


Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important?
According to NAR, the Pending Home Sales Index (PHS) is:
“A leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.”
In real estate, pending home sales is a key indicator in determining the strength of the housing market. As mentioned before, it measures how many existing homes went into contract in a specific month. When a buyer goes through the steps to purchase a home, the final one is the closing. On average, that h ...

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eXp Realty | The Fuentes Team
Tony Fuentes
1999 W. Colonial Dr
Orlando, FL 32804
407-288-5182

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