Florida VA Loans

07/10/2024

Housing Market Update: 🗣

We Are Better Positioned for Lower Mortgage Rates

As we hit the halfway mark of 2024, the housing market is showing signs of improvement with rising inventory levels providing a much-needed buffer.

🔴 Inventory Growth:

Current Inventory: We now have 652,573 active single-family homes for sale, a significant increase from the mere 240,000 in March 2022.

Weekly Growth: Inventory grew by 6,803 homes this past week, hitting the target five times this year versus zero times last year. This marks a healthier year for inventory growth.

🔴 New Listings:

Seasonal Peak: We are at the peak period for new listings. Last week, we had 71,181 new listings, an improvement from 58,289 last year, though below the 2022 peak of 89,221.
Price Cuts:

Higher Rates Impact: Elevated mortgage rates have led to an increase in price cuts. Currently, 38% of homes have had price reductions, compared to 33% last year.
Pending Sales:

Steady Demand: Pending contracts show slight year-over-year growth, with 381,057 pending sales this year compared to 381,036 last year.

🔴 Mortgage Rates and Yields:

Fluctuations: The 10-year yield has seen significant movement, affecting mortgage rates. Despite some recent increases, bond yields and mortgage rates trended lower after the latest jobs report, which showed a softer labor market.
Mortgage Spreads:

Improvement: The spread between the 30-year mortgage rate and the 10-year yield has improved compared to last year's worst levels, leading to slightly better mortgage rates.
Purchase Applications:

Variable Demand: Purchase application data has fluctuated with changing mortgage rates. A three-week winning streak ended recently due to rising rates, highlighting the sensitivity of demand to rate changes.

🔴 What's Ahead:

Inflation Reports: This week brings key inflation reports (CPI and PPI) and Fed Chairman Jerome Powell’s testimony before Congress. Watch for potential impacts on bond yields and mortgage rates.

Stay tuned for more updates as we navigate the dynamic housing market landscape.

06/12/2024

‼️Attention! Attention! ‼️

VA Issues New Guidance on Buyer Paying Real Estate Broker Fees!

Effective August 10, 2024, VA has updated its guidance on a Veteran’s ability to pay for their Buyer’s Agent’s Fee. This is a significant change as previously, Veterans were not permitted to pay real estate broker fees.

Here are the key points:

🇺🇸 Veterans can now pay reasonable and customary buyer broker charges, including commissions.

🇺🇸 The home must be in an area where listing brokers are prohibited from setting buyer-broker compensation through multiple listings or where buyer-broker compensation cannot be established by the listing broker.

🇺🇸 Buyer-broker charges cannot be included in the loan amount and must be considered in determining if the Veteran has sufficient liquid assets to close the loan.

🇺🇸 An invoice isn’t necessary to support the charge, but the amount paid by the Veteran must be recorded on the Closing Disclosure, and the buyer-broker representation agreement must be part of the sales contract package.

🇺🇸 This temporary variance ensures Veterans remain competitive buyers in the current real estate market.

🇺🇸 The seller can still pay the buyer-broker charges without it being considered a seller concession.

Stay tuned for a more permanent policy as the market stabilizes.

Make sure to share this information with your network and use it as a training opportunity for your team.

06/12/2024

Who’s been there?

11/11/2020

We thank our Veterans for affording us all to live free.

10/31/2020

This guy has jumped out of planes so many times it’s silly. He even “bounced” once and lived to tell the tale. We helped he & his wife build their dream home here on the beach & proud to serve those who have served us! Congratulations Michael & Tracey! Can’t wait to whoop y’all on the Co****le in the new backyard!

07/23/2020

We love helping our active duty soldiers, Reservists & Veterans. As a parent of a US Army 1stSgt I want our team to make sure you’re taken care of as we would my own son & his Team! Call us. See the difference that you aren’t seeing in the marketplace. We are brokers & have all the products. You’ll be surprised at the difference & meet your Local Florida Broker! Call or text anytime in or outside of business hours! 321-221-7346

07/17/2020

Let’s get on it if this is you!!! Call & talk with us to show you what’s possible today.

03/09/2020

It's not every day you get to buy a LtCol lunch... and help him secure financing on his new home! Thrilled to serve this family who serves us all!

02/25/2020

If you have been on the fence about refinancing, buying, building or rehabing using your VA Loan benefits, now is the time! Due to the market volatility of the past few days, the 10 yr bond has dropped to near record lows, creating a moment of opportunity. Apply today or call us directly - ask for Spencer or Olivia. Olivia is a past Veteran Client that joined our team two years ago! She can help you achieve something few have had the opportunity to capture in their lifetime!
321-221-7346 to talk with either of us - your local Florida Broker. Let our Veteran Family members serve yours today!

02/01/2020