Thomas Nguyen - Real Estate Orlando

03/28/2022

Do not listen to what people are saying…watch what people are doing.

How does this apply to real estate?

People are buying homes more then ever before, what people are saying is it’s not a good time to buy a home.

Recap:

1. Springtime will be a competitive market. If you’re looking to buy, are you ready??

2. Low interest % rates is only temporary. Lock in rates asap. Home prices will continue to rise!

3. Homes are not unaffordable, they are less affordable.

07/18/2021

$33 million Emergency Rental Assistance

07/16/2021

New Disney campus in Orlando - Lake Nona will be home to over 2,000+ employees relocating from California over the next 18 months!

What does this mean for the Lake Nona housing market?? MORE BUYERS LOOKING FOR 🏠 🏠 🏠.

Should we KEEP or Sell our home ?!?!

Welcome Disney to the Lake Nona community!

https://bit.ly/3ieH3Yx

07/13/2021

Seller optimism has never been this HIGH

Fannie Mae’s latest 🏠 Purchase Sentiment Index.

77% of consumers said it’s a good time to sell, up from 67% last month; 15% said it’s a bad time to sell.

64% said it’s a bad time to buy, up from 56% last month; 32% said it’s a good time to buy.

48% of respondents said they expect home prices to rise over the next 12 months, up from 47% last month.

57% of respondents expect mortgage rates to go up over the next 12 months, up from 49% last month; 30% expect mortgage rates to stay the same; 6% expect rates to decrease.

88% of consumers aren’t concerned about losing their job over the next 12 months, up slightly from 87% last month.

27% of respondents say their household income is significantly higher than it was 12 months ago, a drop from 29% last month; 56% say their household income is about the same, and 13% say their household income is significantly lower.

Source: “Consumers Increasingly Adamant That It’s a Good Time to Sell, Bad Time to Buy a Home,” Fannie Mae (July 7, 2021)

07/09/2021

There’s no doubt that 2021 is the year of the seller when it comes to the housing market. If you’re a homeowner thinking of moving to better suit your changing needs, now is the perfect time to do so.

Low mortgage rates are in your favor when you’re ready to purchase your dream 🏡 , and high buyer demand may give you the leverage you need to negotiate the best contract terms on the sale of your 🏠.

Here’s a look at what’s driving this sellers’ advantage and why there’s so much opportunity for homeowners who are ready to move.

1. Historically Low Inventory
2. Frequent Bidding Wars
3. Days on the Market

07/02/2021

Do you have enough insurance to rebuild it??

Maybe not…blame the pandemic!!

With soaring prices for building materials due to shortages associated with COVID-19, the cost to rebuild has drastically increased, while most homeowner’s insurance policies have remained the same.

Stuck at 🏠 during the pandemic, homeowners tried to make the best of the situation. Experts said people spruced up their houses, remodeled or built additions for extra living space to accommodate their new life of working and learning remotely.

The projects put a strain on the availability of materials, and prices shot up!

This is a trend seen during the last 15 months of the pandemic. The delay in getting supplies, combined with a shortage of labor in the construction industry, has caused 🏠 rebuilding to become much more expensive.

This is the time to review your insurance policy.

Homeowners should go over their policies and discuss any changes with their insurance agent. When renewing an insurance policy, it is important to reassess each time. Don’t just take the automatic renewal. Talk to your agent and review your policies.

The higher 🏠 prices and the low inventory have contributed to homeowners’ to upgrade their current houses instead of moving.

Remember, homeowner’s insurance is based on the costs of what it takes to rebuild a 🏠: as materials increase in price, so should insurance coverage.

06/27/2021

✔️WHEN does forbearance end with the CARES Act?

The CARES Act first set forbearance protection to expire on Dec. 31, 2020. However, the program has since been extended to March 31, 2021, and more recently extended until June 30, 2021. Keep in mind that March 31 is the deadline to request forbearance. The forbearance period will ends in 3 days!

✔️WHAT to do when your CARES Act mortgage forbearance ends.

When your forbearance period ends, you need to start making payments on your mortgage again to catch up, as per your agreement with your lender. If you can't make the payments, ask your lender for options…you may be able to modify your loan to make it more affordable. Good luck!

06/25/2021

Today’s sellers’ market provides challenges and benefits for BUYERS.

Current low interest rates won’t last forever, and home prices are forecast to rise.

If you’re a homebuyer, hang in there!

Homeownership improves your quality of life, and the long-term benefits outweigh the short-term challenges.

06/24/2021

New 🏠 Sales Drop 5.9% why??

Part of the reason is 20% of builders limited sales activity to manage supply chain problems. The National Association of Home Builders (NAHB) largely blames the high cost and uncertain availability of building materials, lots and labor.

Did you know that lumber costs is more than 210% higher than a year ago. And lumber prices are up 380% over the last year 😭.

New 🏠 sales slowdown was expected and have shifted some buyers to the sidelines including me.

A new home sale occurs when a sales contract is signed or a deposit accepted. The home can be in any stage of construction: not yet started, under construction or completed.

Entry level buyers are most affected by higher prices. Just a year ago, sales priced below $300,000 accounted for 44% of sales, while this May it dropped to 26%.

I believe those significant increases are due in part to lower sales volume during the Covid crisis one year ago.

06/16/2021

If you’re on the fence about selling your 🏠 , now is a great time to take advantage of sky-high demand, low supply, and fierce buyer competition.

With buyer demand rising and historically low inventory for sale, if you’re in a position to move, your 🏠 may really stand out from the crowd.

Reach out to me today to get your listing process underway.

05/24/2021

Mortgage RATES rise this week and hit 3%

For the first time since April, avg. rates for a 30-year loan hit 3%, up from last week’s 2.94%, due in part to an increased concern over inflation.

Signs continued of the economy’s recovery from the pandemic recession and a burst of inflation rattled stock markets.

Freddie Mac reported that the average 30-year home loan rate increased to 3% from 2.94%.

The rate for a 15-year loan, popular among those seeking to REFI, rose to 2.29% from 2.26%.

Looking to REFI your existing home mortgage or curious what interest rate you can qualify for on that dream home...I’m partnered up with good people that can help and give free quote.