Ruth Cardozo / South Florida Realtor

01/04/2024

Starting the new year with some good news! 📰🎉

Forecasters say it’s a great time to buy or rent in South Florida thanks to the shifting market.

11/28/2023

Are you planning on getting a REAL Christmas tree this year and have never done this before? 🌲

Give this article a read to learn a few things you have to do prior to bringing that tree home.

Happy decorating! 🎄

These expert-approved tips will help you plan properly for the getting the most out of your real Christmas tree right through the holiday season.

11/22/2023

Monthly Market Update 🏡📊
 
As requested, I have added Plantation to the mix. Please let me know if there’s a city you’d like me to add as well.
 
➡️North Miami and Hollywood are great markets for buyers who are looking to buy a townhouse or condo. The shift is officially here and it is definitely a buyer’s market where sellers are giving out concessions in closing costs, rate buy downs, and repairs.

🏷️ The median sale price has increased in the last 12 months in ALL cities for ALL types of residential properties (with the exception of townhouses/condos in Hollywood)

🏘️ Houses in Pembroke Pines are selling QUICKLY (less than 3 weeks) and sellers are getting pretty close to what they’re asking.
 
Are you surprised by any of these stats? 🤔
 
 
                   

11/15/2023

If you're like me, you LOVE to host gatherings during the holidays! 🦃🎄🥘

I actually enjoy decorating the house and dinner table, making all sorts of lists of things I need to get or do, and cooking delicious, hearty meals 😋

Check out this checklist to help you get ready to entertain a crowd!

Tailor this master list to help you set the scene — and table — for the holidays

11/08/2023

High interest rates + low supply of inventory = unaffordable market for many buyers

We're seeing a lot more 3-2-1 and 2-1 buydowns right now as sellers and home builders try to incentivize buyers.

How does it work?
Seller or home builder pays an upfront cost so that the buyer can get a type of mortgage that reduces the interest rate for the first three years of the loan term (in a 3-2-1 buydown).

Example:
Interest rate now = 8%
1st year of mortgage buyer gets 5% rate
2nd year of mortgage buyer gets 6% rate
3rd year of mortgage buyer gets 7% rate
4th year and on, buyer remains at original 8% rate

BUT the buyer can refinance at any time if rates drop! 🙂

Check out this article to learn more!

Some homebuyers priced out of the market opt for a mortgage buydown, usually funded by sellers, in order to lower their monthly payments for the first few years.

11/02/2023

November is already here! And with that comes a new month to do some needed home maintenance 🏠🧹🔧

Check out this link to learn some important tips on what our homes may need this time of year!

The ones that apply to us down here in ☀️ South Florida are:

UNDER AN HOUR:
💡 Test outdoor lights and replace bulbs as needed
🚨 Test safety devices and replace batteries (smoke detectors, carbon monoxide, radon, etc.)

OVER A WEEKEND:
🍂 Rake leaves
🐭 Seal gaps where critters could enter
🌳 Care for trees and shrubs
🍽️ Deep clean the kitchen
🔥 Clear dryer vents

EXTRAS:
🛠️ Exterior repairs (any signs of damage)
🧽 Clean gutters and downspouts (leaves are falling now)

Prep your house and yard for cold weather with this list of things to do in an hour or over a weekend

10/30/2023

I'm curious - what do you think about this? 🤔

Will the conversion of empty office buildings to residential housing alleviate the low inventory problem we have now? Will home prices drop?

Only time will tell ⏳

Over $35B will be available for below-market rate loans that finance new housing construction and/or office conversions near transportation hubs.

10/25/2023

How's the market in Pembroke Pines? 🏡📊

SEPTEMBER 2023:

Pembroke Pines is currently a seller's market

📦Limited supply of properties with an average of 1.6 months of inventory for single family homes

💰The median sale price in September was $630,000 for single family homes which is a 7.8% increase from a year ago

💲 Properties typically sell close to their listing price at 97.1%

📆The median time a property spends on the market is 21 days

📋 75 new listings came on the market which is a 34% decrease from a year ago

🤝 There are 70 pending sales which is a 22% decrease from a year ago

10/18/2023

Everyone is understandably talking about how high mortgage rates are and how homeownership is becoming unaffordable and hence, unattainable 🗣️

But what a lot of people don’t know is that in a market where there are less buyers out there, because a lot of them are sitting on the sidelines waiting for rates and/or prices to come down, sellers are starting to realize that they need to offer more ‼️

We are starting to see a few tactics come back that we haven’t seen in a while, which benefits buyers 🤗

Check out this article to learn more about these nine buyer tactics!

In a brief summary:

1️⃣Ask the seller to buy down your rate
🔹Seller pays a portion of the buyer’s interest payments upfront.
🔹The seller’s payment effectively cuts the buyer’s interest rate by 2 percentage points in the first year, and by 1 percentage point in the second year. After that, the buyer pays the full interest rate.

2️⃣Use part of your down payment to pay down debt
🔹Divert some of your intended down payment money to cut the higher-rate debt first.
🔹Putting a little bit less down will make the mortgage payment slightly higher, but your total debt payments per month will be lower because you got rid of the highest rate debt.

3️⃣Use homebuyer assistance programs
🔹Many counties and states offer down payment assistance, with closing costs, lower interest rates, and tax credits.
🔹Based on your situation, you may qualify for one of them.

4️⃣Ask the seller to finance the purchase
🔹You can give the seller an IOU for part of the home’s value and make monthly payments directly to the seller at an interest rate that’s lower than you could get from a bank.
🔹Sellers who do this are often those who have paid off their mortgage and are okay with it because they get the price they want for the house.

5️⃣Don’t wait for a rate you like better
🔹If you find the right house and the payment is affordable even with rates now, then buy the house.
🔹When rates drop, all those buyers waiting will rush back into the market and drive home prices higher as a result of more competition.

6️⃣Don’t get distracted by things you don’t need
🔹Focus on getting a good price even if that means negotiating other things like closing date, repairs, and post-occupancy.

7️⃣Buy a house that needs work

8️⃣Build a house or buy a brand-new one
🔹Frequent times, new construction ends up being less expensive than resale homes because you save money in remodels, appliance repairs and unexpected repairs regarding the age of the home.

9️⃣Rent out part of the house
🔹Buy a duplex, triplex or quadplex and live in one of the units while you rent out the rest.
🔹You can actually include that expected rental income to qualify for your loan.

Buyers may be able to make rising mortgage rates less onerous by using one or more of these nine tips suggested by RE agents and lenders.

10/09/2023

Do you love decorating for Halloween but, like the rest of us, don't want to spend a fortune on decorations? 🎃💀

Inflation already has us spending more on groceries, bills, and pretty much everything else so we can all save a little when it comes to Halloween decorations 👻

Check out this article to see what DIY decor you can make with things you already have at home or can get at the dollar store.

BONUS: you can make these with your kids for some fun and creative quality time!

🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️🕷️

DIY Halloween decorations have never been cuter, easier or cheaper to make! Scare other Halloween decorations away with these DIY crafts.