Spring Hill Florida Mortgage Rates Might Rise A Little, But What’s It Mean?

 

 

Will Home Values Fall if Spring Hill FL Mortgage Rates Rise A Little Further?

 

 

Right now, mortgage rates in Spring Hill FL (as in the rest of the nation) are higher than they’ve been for 15 months—a trend that’s likely to continue. We have to wonder about the impact higher Spring Hill Florida mortgage rates will have on Hernando county home sales in the coming year.

 

First, some perspective. If mortgage rates do increase in 2014, it’s no ‘done deal’ that home buyers will be put off—nor that a wave of foreclosures will follow. The reason? By past standards, interest rates will still be low, even at the 5½% predicted by the N.A.R. Any hike in mortgage interest rates are coming off the historical 3.52% set in the spring of 2013. Consider: most of us were paying mortgage rates between 7 – 8% throughout the 1990’s! 5½% looks like a fire sale compared with those.

 

Factor Two: surprisingly, a projected rise in interest rates is not predicted to dampen the enthusiasm for acquiring property. The Mortgage Bankers Association predicts that home sales will increase nationally by 10% in 2014. I have no doubt that some Spring Hill first time homebuyers could be waylaid by rising interest rates—after all, a 1% increase in mortgage rates equates to approximately a 10% rise in monthly payments. But overall, buyers who can meet the current lending standards should still be able to afford to own. Given the cost of the renting alternative, they may decide they can’t afford to pass up the right house at the right price.

 

Additionally, there is a strong argument that the principal effect of rising interest rates is less likely to be on Spring Hill Florida home sales than on refis. The Mortgage Bankers Association predicts that refinancing demand will drop by half in 2014 (when you chart that kind of number, it looks like a cliff!). Many homeowners will already have locked in last year’s interest, so they certainly won’t be interested.

 

Any drying up of the refinancing business may have yet another effect. There could be a follow-on effect as lenders start loosening their lending criteria to attract new business. First time buyers that have been locked out of the market until then may (we are now two after-effects later, so this has to be a ‘may’) find themselves suddenly eligible for a home loan.

Given the healthier economy and falling unemployment, the outlook for the Spring Hill Florida housing market in 2014 has reason to look positive.

Thinking of buying a home in Hernando County and want to shop the best mortgage companies in Spring Hill FL? Now’s the time to call me to discuss timing!

 

Steve Fingerman

President

E Loans Mortgage Inc

4117 Mariner Blvd.

Spring Hill FL, 34609

NMLS# 856640

 

Office 352-688-7949

Cell 727-946-0904

 

Buying A House In Spring Hill Florida- Use Local Market Awareness

 

Bargain-Hunters Find a Hernando County Real Estate Market That Isn’t Waiting

Buyer Beware: Strategies That Get You Nowhere

 

Spring Hill Florida Real EstateAnyone who is buying a house in Spring Hill Florida — or even just checking up on the market — is likely to find that some of the rules of the game seem to have shifted. Particularly anyone expecting to be deluged by the kind of amazing deals being offered in 2008 and 2009 should see what I mean.

As the latest housing statistics continue to paint an upbeat picture, at least when it comes to bargain-priced properties, the days of multiple bids and ‘offers over asking’ are back.  If you are weighing the advantages of buying a house in Spring Hill Florida before interest rates and prices rise in earnest, it should be useful to take a look at some strategies that work — and some that virtually never work:

1)                  Blanket Low-balling – Running around writing up a bunch of low-ball offers is a surefire way to get yourself ignored, or worse, miss out on an otherwise great property. A better approach?  Work with a knowledgeable agent whose expertise in area neighborhoods will allow you to check on the most recent comps, then write a serious offer.

2)                  Dismissing Imperfect Properties – The degree of your success in buying a house in Spring Hill Florida can depend on starting out with a reality check: only very rarely is a property totally perfect for you and priced absolutely right.

3)                  Highest and Best – Unfortunately, the tempting low prices listed for some Hernando County Real Estate bank-owned homes also means that it’s increasingly common to encounter the dreaded “multiple offer situation.”  If you find yourself there, be prepared to submit your highest and best offer first — you may not have another shot.

Spring Hill FL Real Estate

Homes For Sale In Hernando County

This changing market doesn’t mean we are headed into the kind of fever-induced ‘bubble’ we saw in the mid- 2000’s.  But for those seeking a deal and waiting for the bottom of the market before buying a house in Spring Hill Florida, the market does not seem to be waiting. 2013 is clearly the time to jump in!

Tina Fingerman

Agent Trust Realty

727-946-2348 Cell

352-688-7022 Office

Hernando County Realtor® Plays Watchful Role in Appraisals

What A Good Spring Hill Florida Realtor Should Do®  – Take Control At Appraisal Time

 Hernando County Realtors®  Should Keep Active During Appraisals

 

Hernando County Homes For Sale

Spring Hill Florida

It may be a fundamental element in nearly two-thirds of every residential real estate transaction, yet when you think about buying or selling a Hernando County home, it’s not likely to be your major focus. Important though it may be, for most people, the appraisal process seems like a mere formality. After all, haven’t the seller and buyer already agreed to the deal? What’s left to do, other than dot the I’s and cross the T’s?

Of course, if you are a cash buyer, you can choose to skip the appraisal altogether. If so, congrats – you are ready to buy as soon as you find the right property! But for the rest of us, if a loan is involved, so too is the lender’s appraisal – or appraisals.  Yet many real estate agents are not a part of this element.

The entire transaction hinges upon its success because the lender needs assurance that the property has at least the agreed value. If the home doesn’t comp out, the bank will not fund the loan.

When it comes to the appraisal, I will admit to being one Realtor who favors the proactive approach. One way to help assure the right outcome at appraisal time is for your Realtor to meet the appraiser at the property — armed with a package of comparables that support the agreed-upon price. Most appraisers may have uncovered the same comps already, but that’s not always the case. If my seller has completed upgrades or improvements, I also like to bring proof to help justify a higher price. Making the appraiser’s job easier is an important part of a Realtor’s job.

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As a trusted Realtor in Spring Hill Florida, I’ve found that taking an active role during appraisal is an important way to protect my client’s interests. It’s a commitment I make to help insure that each and every closing finishes as planned.

If this winter finds you looking for a Hernando County Realtor who will be by your side from start to finish — drop me an email, or give me a call!

 

 

Tina Fingerman Realtor

Looking For A Great Realtor In Spring Hill FL?  Call Tina Fingerman Today!

 

 

 

Tina Fingerman

Agent Trust Realty

727-946-2348 Cell

                                                  352-688-7022 Office

www.AgentTrustHernando.com

®Realtor is a trademark of the National Association of Realtors

Traps a Hernando County Real Estate First Time Buyer Should Look For

Looking Out For Common First Time Buyer Missteps

 

No matter how broad your previous life experiences may have been, buying a home is a very big deal. For a first time buyer, whether here in Spring Hill FL or anywhere else, the impact of that life-changing purchase is doubly impactful. It affects different people in different ways, but after the dust clears, there is one emotion I never want my Hernando County first-time buyer clients to feel: remorse.

You might think that the size of the transaction makes it wildly unlikely that even a first time buyer would overlook any major missteps. After all, when you are new to such an important purchase, you are bound to be extra cautious. Yet when you consider the challenging distractions along the way (going through your first mortgage approval process; scraping together a down payment; learning how inspections proceed, etc.) it’s easy to see how they can trip up a first time buyer. Getting any one of them dealt with can become a main preoccupation…so much so, that seemingly minor issues get overlooked. It’s part of my job to do my best to see that my Hernando County first time buyer clients stay vigilant on all fronts.

Common concerns to watch for:

Foundation Problems Related To SinkHole Activity – The true frustration of dealing with a home with foundation problems is something a first time buyer may not fully appreciate. They aren’t for the faint of heart (or the faint of pocket book).  Foundation problems can cost $50,000 for even a simple fix — but a first time home buyer usually doesn’t have that expectation. If an inspection reveals any sort of foundation issue, it’s an absolute ‘must’ to call in the experts to assess the severity of the problem – no matter what the time pressures may be. A search through public record and permiting records can help quickly identify any previous settlement issues which may have been recorded in the county. Keep in mind however, if a home has been remediated, the seller must be able to provide a full engineering completion report. In those cases, assuming the documentation is proper, its a pretty safe bet that the issue has been resolved and there will not be a future worry. Expert advise and reviews are also the proper course of action, the Team at Agent Trust has extensive knowledge in this area so dont hesitate to ask any questions you may be thinking.

Faulty Siding –  Expensive to fix and ugly to look at, improperly-installed siding was a big problem in the 1980s and 1990s. While many of those issues have been addressed by now, bad siding can still plague a new homeowner.  Believe it or not, it can cost as much as $25,000 to $150,000 to replace. Anyone considering a home built in the 80’s or 90’s should be sure to pay extra attention to the siding during inspections.

Special Assessments – Real Estate Agents in Hernando County and all areas for that matter dread seeing the words “special assessment” on a listing: these are additional costs to a homeowner in a condo or homeowners association that any project, repair or unexpected cost can trigger.  The cost to re-side a condominium complex, for example, can easily run into the $100,000 range, typically divided among the homeowners.

Rental Homes In Hernando County- Hot Market After Foreclosure Uptick

 

Rental Homes Uptick Follows Foreclosure Glut

Foreclosures Draw Hernando County Real Estate Investors’ Attention

The housing market’s new signs of recovery are accompanied by continued life in the rental homes investment market. Alert investors picked up on the earlier foreclosure epidemic – especially this year’s income stream-producing variety. ‘Buy low, sell high’ had largely become ‘buy low, rent high’ as rising rental rates met swooning residential prices. Although housing’s bottom appears to have been reached and newly reversed, Hernando County Real Estate rental homes rates are still subject to the general uptick. In short, opportunities for investors remain.

We’ve talked about the topic earlier, but for those who missed it, here’s a thumbnail review:

The foreclosure market draws attention.

This spring, newspapers like the L.A. Times widely trumpeted the investment rush that was underway due to the raft of nationwide foreclosures. Data tracker CoreLogic predicted a market that could be “worth $100 billion in terms of rental investments” for 2012. The idea was to “get your hands on a great foreclosure deal” with the long term in mind. Many investors did take them up on it, usually realizing the intended results. For most investors who continue to keep tabs on Spring Hill Florida rental homes market, the most common strategy remains buying low, then making the repairs necessary to rent high.

Rental home rental rates climb.

Although you’d usually expect an inverse relationship between home prices and rental rates, the signs of an apparent turnaround in the Hernando County Real Estate homes market doesn’t seem to have had much of an impact on the rate of rental increases. If that holds, it means that buying rental homes in Spring Hill FL as an investment could continue to produce for the foreseeable future – depending, of course, on keeping them occupied by quality tenants. Which finally leads us to….

Increase in renters

As part of the fallout from the financial crisis and maddeningly slow recovery we are still experiencing, a continuing stream of those forced to default on their mortgage payments have joined the ranks of renters – many of them high quality tenants. That’s an added incentive to Hernando County rental homes investors, allowing them to feel more comfortable spending on the repairs often needed to turn foreclosures into a desirable rental homes.  

Hernando County Real Estate Market Becoming Very Attractive To Foriegn Investors

Hernando County Real Estate Part of Global Investing Picture
Foreign View:U.S.Homeowners Sitting Pretty
Foreign Buyers Snap Up Residential Real Estate

For quite a while, Hernando County residential real estate holders – that is, homeowners – haven’t had to work very hard to come up with a description for the U.S. real estate market. ‘Lousy’ certainly came to mind. ‘Bleak’ was a strong contender. ‘Cautiously optimistic,’ at best a distant third.

Hernando County Real Estate

Find A Home In Hernando County

So this months Wall Street Journal report came as a quiet reminder that, for serious-minded investors who view our situation from a less-involved perspective, our residential real estate outlook is neither lousy nor bleak. In fact, the combination of lower residential prices and the international currency environment has created a ‘property-buying binge’ by Asians, Canadians, Europeans and Latin Americans – more than 60% of whom pay in cash.
“There’s this international view that America is on sale,” according to one property manager. He should know; he’s an executive whose Chicago-based company buys foreclosed homes and manages them for investors. A year ago, all of his investors were domestic. Now, one in five is foreign.
Whereas before, most foreign residential real estate investors were interested in ‘trophy’ properties to enhance their personal prestige, the new onslaught is coming from buyers who see that they can earn high returns by buying here, renting, then reselling in the future when the market rebounds. It seems that in many countries, a residential real estate downturn is expected, but has yet to occur. In their estimation, ours is already history.
It looks like “a gift,” according to one developer, who judges that an oceanfront condominium in Rio de Janeiro sells a level 50% higher than an equivalent property in Miami. International or domestic, investment money is always drawn to bargains — but when bargain basement prices are combined with the perceived safety represented by U.S. residential real estate, the lure is apparently irresistible.

FOREIGNERS SNAP UP PROPERTIES IN THE U.S.” was Nick Timiraos’ headline, with a caption that read, “To many Americans, plowing money into real estate has never looked like such a risky venture. But to many foreigners, U.S. housing has never looked like a smarter investment.”

Thanks, Nick, for giving us some outside perspective; I guess we can adopt the ‘cautiously optimistic’ view with a lot more confidence. If you have been waiting on the sidelines to make your own Hernando County residential real estate investment, I hope you will give us a call when you decide that now is the time to invest in property in Hernando County and the Spring Hill area. We are standing by to help you find the property you’re looking for!
6113 Exchange Way
Hernando County FL, 34202
941-907-9444

E Loans Mortgage Inc

6113 Exchange Way

Hernando County FL, 34202

727-946-0904

FAIR Files Additional Lawsuits Against Florida Home Owners Insurance Carriers

Thank You Channel 10 News For Continued Coverage. FAIR is commited To Bringing Balanced Reform For Florida Home Owners. For Information On Joining The Class Action Please Click On the Citizens Class Action LawSuit Button At The Top Of The Screen.

E Loans Mortgage In Hernando County Florida, and Steve Fingerman will continue to fight for Florida Home Owners To Keep Home Ownership In Florida, I Proud To Be A Part Of This Action And Committed To Keeping Home Ownership In Hernando County and The Surrounding Tampa Bay Area Affordable.

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The 10 News Investigators have learned the group suing Citizens Insurance over its insurance practices will file more lawsuits Monday.

We’ve learned that group — FAIR — will be filing class-action lawsuits against private insurance companies Monday.

Those suits will go along with the cases they’ve already begun against Citizens.

The 10 News Investigators have been leading the way on this. Following reports by 10 News last fall, allegations surfaced.

The claims: insurance companies statewide are setting the replacement costs of some homes extraordinarily high — much higher than they should be.

That means the companies can charge you more to insure your house. The technique lets them make more money and dodge state laws that limit how much they can raise your rates.

That practice is what led the group FAIR — Florida Association for Insurance Reform — to the steps of the state Capitol last week.

FAIR announced it’s suing Citizens Insurance over the issue. Citizens is run by the state and backed up by Florida taxpayers.

PREVIOUS COVERAGE:

FAIR Files Class Action LawSuit Against Citizens Insurance

On February 7, 2012 FAIR announced a Class Action Lawsuit against Citizens Property Insurance. Attorney Mark Beausoleil, FAIR Regional Director David Welch, Steve Fingerman Board Member and President E Loans Mortgage Inc and Senator Mike Fasano, Announce FAIR’s Lawsuit against Citizens Property Insurance for their practices of inflating Replacement Cost Values and Overcharging Florida Consumers. Florida Association Of Insurance Reform Announced on Feb 7, 2012 A Class Action Lawsuit Brought Against Citizens Insurance by It’s Policy Holders at The Capital Building In Tallahassee

What’s Not Covered In Florida Home Owners Insurance?

Do You Know What is NOT Covered in Your Home Owners Insurance Policy?

You Might be Surprised

 

In recent years, insurance carriers in Florida have added many exclusions to property insurance policies, with little oversight or public debate. These exclusions are drafted into policy leaving consumers with less coverage for the same (if not higher) premium.

Because many policyholders rarely read every word of their large and complex policies, they may not even be aware of what is NOT covered. Since policyholders are unable to negotiate policy language, they are left with a choice of accepting the changes, purchasing new endorsements or seeking a different carrier.

Examples of common policy exclusions include:

Eliminating Your Rights to Appraisal – For 200 years, policies have included the binding appraisal process to settle disputes between insurance companies and the insured over amount of loss or value of damaged property. Many insurers are restricting or eliminating this provision, which provides important consumer protections.

 

Giving You a Sinking Feeling – Many policies no longer cover damage from sinkholes unless the sinkholes are deemed “catastrophic,” usually meaning large and sudden. But slowly occurring sinkholes can cause catastrophic damage to a home and its value. Damage can run into the hundreds of thousands, often more than the value of the home, leaving many homeowners with no other choice than to walk away from their mortgages.

 

Requiring You to See Through Walls – Most insurance claims deal with water damage, often stemming from damage behind walls or under slabs that doesn’t become noticeable for weeks or months. Citizens and other insurance companies now deny claims for leakage occurring over more than 14 days, even if it is hidden from sight. In fact, Citizens has just announced plans to further expand its water exclusion.

 

Eliminating Coverage for Mold – Where there is water damage mold often forms. Though it is recommended that water be removed and damaged areas dried within 48-72 hours, company insurance adjusters often are unable to visit the home within that time. No matter the reason, if mold forms, most companies will no longer cover the cost of its removal.

 

Leaving Screened Structures Uncovered – Popular in Florida, screened enclosures used to be covered under most homeowner insurance policies. Many carriers have now added exclusions that remove screened structures from coverage.

 

Re-Defining “Falling Objects” – Typically, damage from falling objects in a home or condo (such as floor damage from a falling light fixture or fan) is covered. Citizens’ new condo policy, however, only covers such damage if the falling objects come down from the sky through your roof or walls. Great coverage for meteorites, but little else.

Join FAIR BY CLICKING HERE

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Agent Trust Realty In Hernando County Florida Can Help You Find The Perfect Home





Welcome to Hernando County MLS Search. Please feel free to use our web site to Search The MLS in Hernando County. You can also use the Search Options for MLS Search in Hernando County Florida as well Search MLS Listings in Pasco, Pinellas and the surrounding Areas. You Do NOT have to sign up for anything, nor do you have to put in any personal information. I hope you enjoy searching the MLS, and if you have any questions on any listing please do not hesitate to contact me directly at   727-946-2348. This Web Site will allow you to search all Homes For Sale in Hernando County Florida, including Hernando County Foreclosure Listings, Short Sale Listings in Hernando County and everything in between. I Look forward to being your Real Estate Agent in Hernando County.
 
About Tina Fingerman

People don’t talk about it a lot. But finding the right real estate agent in Hernando County Florida can be the difference between a happy, stress-free home buying or selling experience, and an unhappy, stressful experience. First, you’ll want an agent ready and able to make a full-time commitment to you. Rest Assured that Tina Fingerman is that Agent. Second, for all of your needs you’ll want a Realtor with the experience needed to know the local Hernando County Florida Real Estate Market, neighborhoods, schools, market conditions, ordinances, etc. With her years of experience in the local market – Tina has have the expertise and track record of success you need. Third, you’ll want to Finda a  Realtor in Hernando County who embraces the convenience of technology without losing the personal touch.

You’ll love the resources available here on Hernando County MLS Search and the e-mail alerts that I send, but these will never replace the time I spend with you, serving as your personal guide through this exciting process of Purchasing Real Estate in Hernando County as well as the surrounding Tampa Bay Real Estate areas. If you are looking for an expert Realtor who can negotiate your transaction to make sure you get the best possible deal on your Real Estate Purchase in Hernando County then look no further Tina Fingerman is the right Realtor for you. Her years of experience and extensive knowledge about the Hernando County Real Estate Market will make sure you get the best possible price on your transaction weather you are buying or selling. Check out our site, and feel free to peform all your Hernando County MLS Search on here. If you have any questions on any property you see,  please  at your convenience at 727-946-2348. You can also email Tina Fingerman.