Rising interest rates impacting South Florida homeowners? This June 2024 update explores how rising rates affect ARM mortgages, potentially leading to more homes on the market and lower sales prices. Here’s what you need to know as a buyer or seller:
Impact of Rising Rates on Homeowners: Understand how adjustable-rate mortgages (ARMs) and increasing rates affect monthly payments and affordability.
Increased Inventory & Lower Prices: Learn how motivated sellers may lead to a rise in available properties and potentially lower sales figures.
Buyer’s Market: Discover the benefits of buying in a market with more negotiation power and potentially lower purchase prices.
Long-Term Benefit for Buyers: Explore how even with higher mortgage rates, refinancing becomes an option when rates eventually fall.
Condo Market & New Regulations: Stay informed about the potential rise in HOA fees for condo owners due to reserve requirements.
Actionable Tips for Buyers & Sellers: Get expert advice on navigating the South Florida real estate market, whether you’re looking to buy or sell.
Curious what’s your home worth? Click the link https://bit.ly/RomanWhatsMyHomeWorth
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