Five Ways to Beat Higher Interest Rates

We get it! Rates are definitely higher than they were within the last 24 months. We have been asked many times, “Is now still a good time to buy Real Estate?” We cannot make that large decision for each person, but what we encourage each person to do is to evaluate the numbers and what works with their family, speak to a lender, learn about the process and responsibilities of being a homeowner (by sitting down with us), and make an informed decision.

Yes, rates are higher which will affect your buying power, but that does not mean you shouldn’t invest in Real Estate- which has proven to be one of the safest investments over time.

Here are five ways you can manipulate the current market rate to work better for you, should you decide homebuying is right for you and your family!

1) Buy Points:

This truthfully was even happening the last few years! You can buy what lenders call “points”, which reduces the total rate you pay. 1 Point = $1,000 per every $100,000 of your mortgage amount. Let’s take the purchase price of $200,000 for easy math. IF you purchased one full point (which you can do .25, .5, etc.), and you were quoted 6% for a mortgage interest rate, you would pay $2,000 at the closing table, and would reduce the rate to 5% which saves you Nearly $150/ month on your payment.

2) Continue to work on your credit.

The better your credit, the better the rate! Review your accounts, payment history, keep your revolving debt LOW, and try to avoid opening any new lines of credit when you are in the housing market.

3) ARM Mortgages

ARM mortgages (Adjustable Rate Mortgages) have been around for a while but were seldomly being used. They are used a lot for Jumbo Loans. With an increase in mortgage interest rates, many buyers are selecting an ARM option versus a fixed. The lower rate is offered to the buyer for the first part of the loan- typically somewhere between the 7–10-year mark, then a higher rate is taken on after that term.

4) Mortgage Buy Down

This option is VERY common right now and I would say is a mixture of both points and an adjustable rate in a sense. This type of buy down must come from the seller completely. The buyer is not able to pay for a formal buy down option. In this sense, the concession given by the seller- buys the buyers quoted mortgage down 2% the first year, and 1% the second year. The rate would then revert to the original quoted rate at the time of locking the loan. For instance, if the buyer was quoted a 6.5% rate and was utilizing this program, the buyer’s loan would become 4.5% the first year, 5.5% the second year, and then revert to the 6.5% for the third year through 30 (or 15 if it was a 15-year loan).
This option definitely provides THOUSANDS of savings to the buyer over the course of the first 24 months.

5) Gift Funds

Many loan programs do allow buyers to receive gift funds for down payment, closing costs, etc. There are also several grant and home loan programs for qualified individuals. We are always happy to advise of these programs in our buyer consultation or feel free to reach out for more. They do often change and have requirements (i.e., income requirements, industry requirements, etc.) but can always be a great option for those starting out needing assistance.

Things to Do in St. Johns County!

Are you looking for a family activity to do- or to simply just get outside and enjoy nature in the ST Johns County and surrounding area? We have created this family, friendly list of highly recommended activities and parks to visit in the St. Johns County area, including one of the most historic cities in the US- St. Augustine. Whether you are resident of the area, or coming to visit, we hope this list provides a few fun ideas for you and your family.

1. Anastacia State Park
This is a state park that offers over 1600 acres of beaches, marsh, and plenty of wild life. This is an awesome family friendly beach park too. With restrooms, a snack shack, and parking close to the beach access, it’s a wonderful stop for a family beach weekend!

2. Guana Mantanza Natural Research Reserve
Located just north of Vilano and St. Augustine Beaches, this is one of the 29 National Estuarine Research reserves in the country! This park offers access to the ocean and three rivers and lots of activities for the entire family- recreational activities, monthly family activities, biking, fishing, hiking, wild life viewing, and more!

3. Nocatee Park Preserve Offering 3+ Miles of Trails, where you can walk, jog, mountain bike, bird watch, and even horseback ride! The preserve is situated just near the Palm Valley Bridge.

4. Castillo de San Marcos If you are in the St. Augustine area, you should stop by this historic monument! This is actually the oldest masonry fort in all of the U.S! It is situated on lots of greenery, perfect place to pack a family picnic and check out a huge piece of history!

5. St. Augustine Alligator Farm Bring the kids and check out all this family friendly attraction has to offer. This farm is one of Florida’s oldest continuously running attractions. It offers over 24 species of crocodilians and other reptiles. They offer special events throughout the year, and is a great week day or weekend family outing to mark off on the list with the kiddos!

6. Ponce de Leon’s Fountain of Youth Park Offering over 15 waterfront acres, this park can provide hours of enjoyment for the entire family! You can check out the original area founded by Juan Ponce de Leon in 1513, in one of the Nation’s oldest cities. Walk through and learn from many of their exhibits. Refreshments offered throughout the park.

7. Lightner Museum
The museum is loved by tourists and locals of St. Augustine! It is the home to one of the most iconic buildings in the area. The museum used to be the form Alcazar Hotel, which was a Gilded Age resort Hotel commissioned by Henry Flagler in the late 1800s. Various exhibitions are offered throughout the year, and are changed out often.

8. St Augustine Amphitheater
This amphitheater was originally built in 1960’s and was recently refurbished. This venue offers a 16 acre outdoor amphitheater and can hold almost 5,000 people!

They offer events, and many music attractions for both children, teen, and adults- featuring all music genres! The venue offers conference rooms, concessions, and a merchandise area. Be sure to keep an eye out on their website for any upcoming concerts, or events!

VA Loan Myth Busting

So many times I hear from selling agents, and even sellers, “ Do I want to Accept a VA Loan?”, “Don’t VA Loans Require a ton of Repairs?”, “ Closing will be delayed with a VA Loan”…the list truly goes on and on.
What I have find in my time in this industry with other agents and sellers, people simply have been misinformed over the years. The “rumors” for lack of a better term keep progressing like a tumble weed, and are never dispelled.
I would like to dispel some of the VA loan myths for you today, below!

1.  The VA Loan is one of the strongest loan programs out there.
For our military families, the U.S Department of Veteran Affairs (VA) GUARANTEES this type of loan.
The VA does not have a minimum credit score for our service members who utilize this loan, so it opens the playing field to many families and given that the loan is guaranteed by the VA, it is often a quicker loan process than that of other loan types.

2. Specifically speaking to those who have access to this loan type some benefits include a no down payment loan type, very competitive interest rates, and no PMI (privatized mortgage insurance).

Now, I know what some may be thinking, “They probably don’t have any money
so they are not qualified.” FALSE. Just because their loan type does not require money down, does not necessarily they do not have it. In fact, in a competitive market for sellers, a #sellersmarket, this could be a benefit to you. By not having to put down funds for their loan, they can save these funds for home repairs, offering to cover some of your closing costs, etc. I have seen military members purchase million-dollar homes before and not put a penny down for a down payment! A VA Buyer can counter act this assumed thought by placing a large binder deposit down.

3. A VA home buyer can also use a VA Loan more than once; meaning, this may not be their first-time use, and they could have other properties under their belt, #investmenthomes. This shows as assets to the lender and helps strengthen their credibility and finances on a lender side. Sellers often jump to the conclusion that since a borrower is using a VA loan, they are tight or low on funds, or a first-time home buyer. This truly could not be farther from the truth.

4. A VA loan does not take longer to close than say a conventional or FHA. On average, most lenders can close a VA Loan in 35 days. It does vary by lender, we always recommend using a local lender in the city you are purchasing in. If the service member has their certificate of eligibility already in hand when they apply for the pre-approval, a 30-day close is no problem at all. Additionally, did you know? A VA appraiser only has 10 days to return the report once they accept the order from the VA Portal. YES! They are on a time table which aids in helping the transaction stay moving along. Whereas FHA, Conventional, and USDA appraisers are not tied to a schedule.

5. “Won’t the VA mandate all these repairs on my home?” The only inspection the VA requires is for the borrower to have a clean WDO (Wood Destroying Organism Report). This report checks for termites (Live or Past Damage), Wood Rot and Beetles. If the report comes back with any of these items, yes, the seller will have to make repairs on these items in order for the buyer to obtain a clear WDO report financing. If the seller has had regular treatment for pests and bugs, or a termite bond, they should feel confident about this. In a #sellersmarket, a VA buyer may even offer to pay for the WDO repairs. A Seller can always ask and use this as negotiation! The VA does not restrict whom can pay for the report or the repairs if necessary.   In addition, the VA ultimately looks for “Sound and Secure”. They do not have exact restrictions on roof age, etc. As long as the home is sound and secure, there should be no problems with the loan process!

6. Tidewater- Did you know? If you accept a VA Offer, and the appraiser is having a hard time finding comps (recently sold homes) to compare the subject home too for the appraisal, the VA appraiser actually notifies the lender, and in return the listing agent actually gets 48-72 hours to submit documentation and comps they used to price the home. This is a huge step up! This is not how it is does for an FHA or Conventional offer. You can fight for your price!

Those are the most common Myth’s we have heard over and over throughout the past years. We hope to have debunked a few negative thoughts many sellers (and even agents) have on the VA Loan. Don’t be afraid to accept a VA Offer!

Three Reasons Why Listing Your Home During the Winter Can Benefit You!

Three Reasons Why You Should List Your Home in the Winter!


1. Buyers are SERIOUS
Many use their holiday time or take additional time off during the holidays, to come and house hunt for a future job or voluntary move they have lingering in the future. Being they have limited time, they will schedule multiple properties, and most more than likely select one while they are here in order to complete all necessary paperwork to get the ball rolling on their purchase, so perhaps they can close on their new home from afar and have their new home to move into when they arrive to the area.

2. Homestead Tax Exemption for Buyers
In addition to the above, Buyers who close on their home prior to January 1, are able to file for what we call Homestead Property Tax Exemption. This is an incredible benefit to Florida Homeowners. It will take up to $50,000 off the assessed value of their home so their tax bill will be less. Also, Homesteading your primary property, caps the rate that your property taxes could increase. Meaning, they cannot go above 3% in a year.

3. Less Competition
Everyone believes that spring and summer is the ideal time to list. While this is accurate to an extent, listing this time of year means less competition for you because many will hold out until spring and summer to list their home for sale. If a family is looking in a specific neighborhood, and needing to move ASAP. Let’s say there is only 1-2 other listings in your designated neighborhood, the inventory selections are lower. Meaning, there is a better chance they will select your home, vice when spring or summer come, many may select to list their homes then creating more options for the consumer and lowering the chances they may pick your home.

So, overall, it is a great time capitalize on these three components of the consumer. Even if your home is not sold and closed by January 1st, you still are positioning yourself to sell in early part of the year which can have many great benefits!

Seven Ways to Upgrade Your Bathroom on a Budget

Are you tired of your current bathroom but don’t feel like draining the bank to do a complete overhaul. Fear not! Take a weekend and revamp your space with these seven ways to upgrade your bathroom while not breaking the bank. Grab your paint brush and home tool kit and get ready to upgrade!

1. Select a Fresh Color
A simple coat of paint can truly re define and make a space feel brand new! By changing the wall colors, you are altering the room’s color palette and helping the space feel fresh and take on a new look. Don’t forget to paint the trim! A Fresh coat of paint is one of the easiest and most cost-effective ways to make a change. TIP: Staining or Refinishing the cabinets is an affordable option to making the space feel new too!

2. Install a New Mirror
Ditch the original or builder grade mirror. Hang something frame-less or one with a unique shape to add a new chic style and statement in your new bathroom! For those who like modern yet original, a simple rectangular mirror with a thick frame will be your go to choice.

3. Update Lights
Changing the light fixtures gives the bathroom an instant face lift! Light fixtures can show character, offer fun flair, and are easy to install! You won’t need more than a few tools. They can also be found for very affordable prices at your local home improvement store.

4. Install a New Shower Head and Faucet
Upgrade your shower head to make your bathroom feel more like a spa! Splurge on a rain shower head or one with a removable handle to help cleaning the bathroom be a breeze! Make sure to have the new faucet match the shower head so the space stays consistent and timeless.

5. Change out the Cabinetry Hardware
A simple change as small as changing the knobs and handles on a cabinet can give the bathroom a slight change of look. Change knobs to a pull handle for a modern look. You can even paint current knobs to save even more!

6. Change out Linens
If you display your linens in your bathroom, purchasing some fresh towels with a matching new bath rug can change up the space. White linens offer a clean, crisp feel, but nontraditional colors can be fun too! Choosing a fun color as teal, mustard, or navy add a fun hue to the space.

7. Add Shelving
Do you have an open wall? Hang some free-standing shelves to display art, towels, items for storage and maybe a fresh plant or two. Small baskets can hold soaps, lotions, cotton balls, and items you would like to share with your guests.