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Scott Rohrbach
36 followers -
Realtor(r) with Sunshine Living Realty in Celebration, Florida
Realtor(r) with Sunshine Living Realty in Celebration, Florida

36 followers
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The reason why jumbo loans might be a better option for buyers than a conforming loan connected with Fannie and Freddie...

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Real Estate Investment Returns Examined

In a look at the return on the investment in single-family homes between 1986 to 2014 in major metro areas, results show about a 9 percent return annually.

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The all important base conforming loan limit is going up. The conforming loan amount for 2018 is going up to $453,100 from $424,100 this year for one unit residential properties. This means Fannie and Freddie will be funding loans at higher amounts for closings starting in January 2018.

In areas where the local median home value exceeds the conforming limit (like metro areas in California, New York), special high-cost limits will likely apply. In high cost areas, the limit can go up to 150 percent of the base amount.

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Sellers requiring proof of funds from a potential Buyer (POF) before a showing can be booked is becoming more frequent, especially with higher end homes. Security reasons are often cited by Sellers. Whatever the reason, it can infuriate and insult potential Buyers, and probably isn't a great strategy if you want to sell a home, but Sellers nevertheless have the right to do so.

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International Buyer Activity in Florida.

Some interesting numbers from the 2017 Residential Survey by National Association of Realtors (NAR) Research Group:

Foreign purchases in Florida increased to $24.2 billion (21% of residential dollar volume).

Latin American and Caribbean buyers accounted for the largest portion of Florida foreign buyers (34 percent).

Canadian buyers increased to 22 percent (19 percent in 2016).

Median purchase price paid by foreign buyers increased to $259,400.

72 percent of foreign buyers made an all-cash purchase.





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Rounding bias is important factor to consider when deciding on a pricing strategy.

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Financing Options for International Buyers...

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Freddie Mac's latest 2017 Outlook report on the housing market... "appears solid now" but warns of "uncertainty about fiscal policy, foreign investments in U.S. real estate and size of the mortgage market."

A strong dollar and Brexit-type decisions outside the UK could also have an impact.

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Interesting question: Can an HOA screen buyers using credit scores? Apparently they can, if done properly.
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