So you started looking for a home a few months ago and you finally found the home of your dreams. You have your preapproval letter ready to go 'cause you're smart and you know that you need that to write an offer. The letter says you're approved for up to $500,000 and that's the list price of this house that you love. You're so excited. You call me, your realtor, and you say, "Andy, let's write the offer for full price, $500,000." Hold up. Let's check with the mortgage lender to make sure everything still checks out. Hey, Mr. Lender. Yeah, we wanna make an offer on 123 Main Street. The purchase price is $500,000. What? What do you mean we don't qualify?

Hey, it's Andy Mandel with ReMax and as I'm sure you've heard, interest rates have gone up…

9 Views, 0 Comments

All of the contracts that we're writing down here these days are on what's called the As-Is with Right to Inspect Form. That means you as the buyer have the right to get a home inspection. The contract states that you as the buyer can back out for any reason whatsoever, during your home inspection period. So make sure you're getting a good, reputable home inspector to check out the house thoroughly during that period to make sure that if the home is not in good condition, you can back out and you get refunded all of your money.

Some of the things the inspector's gonna look for are roof, AC, plumbing and electrical issues. Those are the big, main four. So they're gonna make sure the home has no roof leaks. They're gonna make sure all the…

8 Views, 0 Comments

Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals.

What’s Happening with Home Prices? 

Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says:

“Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”

So why are prices climbing so much? It’s because there are more buyers than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot commodity…

3 Views, 0 Comments

According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today.

If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.

Early Signs Inventory May Be Growing

The latest data from realtor.com shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year (see graph below):

This indicates more sellers are listing their…

18 Views, 0 Comments

Interest rates in the twos and threes are fake news. Hey, it's Andy Mandel with the Mandel Team at Re/Max. And there's a lot of people waiting for those rates to return, but they don't really understand what makes interest rates go that low in the first place.Wait, Andy, I have a 2.75% rate on my home mortgage. They can't be fake. Well since 2009, the federal reserve has been heavily manipulating market rates trying to boost the US economy. Let me explain.

When banks loan you money and they give you a mortgage for your home, after you close, they sell your mortgage so they can get their money back to keep on lending it. On a high level without getting two technical, mortgage-backed securities are giant bundles of mortgages on people's homes from…

6 Views, 0 Comments

Planning on buying a house? Here are our top five tips for home buyers. Tip number one, get pre-approved ahead of time. This is the most important first step you can take. Speak with a good, reputable lender. If you need a recommendation, ask your realtor for who they recommend, who they've worked with in the past. But having a preapproval letter upfront sets clear boundaries on what you want your payment to be so you know what price range you can be looking in and when you find the right house, you're ready to make an offer.

Tip number two, be ready to make a move. It's important to know all of your must-haves and your wants and be clear with what you're looking for and where you want to be. It's very difficult to be looking across two different…

7 Views, 0 Comments

Is the housing bubble finally starting to pop? Are these skyrocketing interest rates finally starting to bring down home prices? Hey, it's Andy Mandel with the Mandel Team at RE/MAX, and I'm here to bring you this month's May 2022 Housing Market Update video. As always, for the purposes of these videos, we're gonna be talking about single-family homes only. So no condos, no townhouses, and we're not talking about any country clubs, or 55 and over communities, we're only gonna be discussing Parkland, Boca, and Coral Springs. Those are the areas where our team does the predominant amount of our business. Now, the stats that we like to give are typically the leading indicators of what's going on in the market right now to show you what the real estate…

50 Views, 0 Comments

How to attract more buyers. Curb appeal is the first thing that buyers are gonna look at when they step out of the car before they even go into your house. So make sure you got new mulch, new flowers if it's necessary, the lawn is mowed. If you have a terrible paint color, if you know the paint is really chipped and bad on your house, maybe it's time to consider adding a new fresh coat of paint on the outside to really get that curb appeal going, so buyers have a good feeling before they even walk into the house, and it'll really shine in the pictures.

Second is interior paint. Paint is one of the cheapest things that you can do that changes the entire look of the house. You might love that dark, dark green or that red color in some of the rooms,…

8 Views, 0 Comments

Every year, many renters ask themselves the same question, "Shall I continue renting or is it time to buy a home?" If you're a renter, chances are you've asked yourself that question at least once and it's because you've faced an increase in your monthly housing cost over time.

According to census data, rents have driven consistently for decades. To make an informed and powerful decision, the first step is understanding what's happening in today's housing market so you can determine if buying or renting is the better long-term decision for you. Hey, it's Andy Mandel with The Mandel Team at RE/MAX and rents are skyrocketing right now. Data from realtor.com shows just how much rental prices are surging throughout the country. This graph highlights…

10 Views, 0 Comments

Have you ever wondered how some buyers can find properties off market? Are you trying to compete in this crazy market but wanna find a property before it gets multiple offers? At the Mandel team, we specialize in trying to help our clients find off market deals. So I wanna show you just one of the ways that we can do that. We have a ton of different things that we're constantly doing to generate listings, but some of the things that we can do that to get off market properties for our buyers, I wanted to show you how we do that.

So there's certain things that we can do to try to find our most likely sellers. And what we do as your agent is we go, we'll door knock, we'll send emails, calls, we'll send letters in the mail, whatever we can do to get…

9 Views, 0 Comments