The 2024 Election and Home Sales: Why Now May Be a Good Time to Purchase or Sell a Home

by Stephanie Montalvo

As the 2024 election season heats up, many Americans are closely watching not just the political landscape but also the housing market. The intersection of these two critical areas of life can present unique opportunities for both homebuyers and sellers. Here’s why now might be an ideal time to consider making a move in the real estate market.

Political Uncertainty and Market Stability

Elections often bring a degree of uncertainty, which can affect various sectors of the economy, including real estate. This uncertainty can also lead to stability in housing prices as both buyers and sellers hesitate, waiting to see the outcome of the election. This hesitation can result in a more balanced market, where neither buyers nor sellers hold a significant advantage, potentially making it an excellent time for transactions.

Source HUD, NAR

Interest Rates and Economic Policy

Interest rates play a crucial role in the affordability of home purchases. The Federal Reserve’s monetary policy, often influenced by the current administration’s economic outlook, can lead to adjustments in interest rates. As of now, interest rates remain relatively low, providing favorable conditions for buyers to secure affordable mortgages. Prospective buyers might want to act quickly before any post-election economic policies potentially lead to higher rates.

How Interest Rates Influence Monthly Costs

Interest rates directly affect the monthly mortgage payments for homebuyers. A lower interest rate reduces the amount of interest paid over the life of the loan, thus lowering monthly payments. Conversely, higher interest rates increase monthly costs. Here’s an example to illustrate this:

Loan Amount: $300,000
Loan Term: 30 years

Interest Rate	Monthly Payment
3%	$1,265
4%	$1,432
5%	$1,610

Even a 1% increase in interest rates can significantly impact monthly payments, making homes less affordable for many buyers. Therefore, locking in a low interest rate can lead to substantial savings over the course of a mortgage(www.nar.realtor) (Statista).

Inventory Levels and Market Dynamics

The housing market has experienced fluctuating inventory levels over the past few years. Currently, there is a notable balance between supply and demand. This equilibrium can make it easier for buyers to find a home that meets their needs without the intense competition seen in a seller’s market. For sellers, this balanced market means there are still plenty of motivated buyers, but without the pressure to dramatically underprice or overprice properties.

Consumer Confidence and Spending

Elections can significantly impact consumer confidence. As election day approaches, confidence can waver, but historically, it tends to rebound once the outcome is known, regardless of the result. High consumer confidence post-election can boost the housing market, making it a favorable time for sellers to list their homes, knowing that buyers may feel more secure in making large financial commitments. Additionally, with buyer demand potentially increasing, sellers may raise prices, capitalizing on the heightened interest.

Locking in Lower Mortgage Rates and Housing Prices

Buyers who lock in a lower mortgage rate before the election, while housing prices are still reasonable, can save significantly over the long term. This strategy is particularly beneficial as housing prices may rise with increased buyer demand. The National Association of Realtors has documented that after the last 9 of 11 Presidential elections, home prices went up after the election.

Here’s where a knowledgeable real estate agent becomes invaluable—they can help you navigate the market, find the right home, and negotiate the best deal, ensuring you secure a property at a favorable price and interest rate.

Tax Implications and Housing Policy

Election outcomes can lead to changes in tax policies and housing regulations. Potential changes to property tax laws, mortgage interest deductions, and other housing-related policies can influence the market. Buyers and sellers who act before any new policies are implemented can take advantage of the current tax environment, avoiding potential unfavorable changes.

Strategic Timing

Timing is always a crucial factor in real estate. With the election causing a temporary slowdown in market activity, savvy buyers and sellers can use this period to negotiate better deals. Buyers might find sellers more willing to negotiate on price or terms to secure a sale before any potential market shifts. Sellers, on the other hand, can capitalize on motivated buyers who are eager to lock in low mortgage rates before any economic changes post-election.

Conclusion

The 2024 election is set to bring changes and uncertainties, but these can also present unique opportunities in the housing market. Whether you’re looking to buy your first home, upgrade to a larger property, or sell your current residence, understanding the interplay between political events and market conditions can help you make informed decisions. Now may indeed be a strategically advantageous time to make your move in the real estate market.

Contact me today so we can start your search for a great real estate deal!

Buyers • Green Living Properties • Uncategorized • July 29, 2024

Home Buyers Guide to Getting Pre-Qualified

by Stephanie Montalvo

Buying a home is one of the most significant investments most people will ever make. Navigating the real estate market can be both exciting and daunting. However, one step that can streamline the process and provide numerous advantages is pre-qualification. Here’s a look at why pre-qualification should be a priority for anyone considering purchasing a home.

1. Understanding Your Budget

Pre-qualification gives you a clear picture of what you can afford. By providing some basic financial information, such as income, debts, and credit score, a lender can give you an estimate of how much you may be able to borrow. This helps you set a realistic budget and avoid the disappointment of falling in love with a home that’s out of your price range.

2. Speeding Up the Buying Process

In competitive real estate markets, time is of the essence. Sellers are more likely to consider offers from buyers who have been pre-qualified because it demonstrates serious intent. With pre-qualification in hand, you can move quickly when you find the right home, giving you an edge over other buyers who haven’t taken this step. You don’t want to take the chance of loosing out on your favorite home because you weren’t pre-qualified.

3. Enhancing Your Credibility

Having a pre-qualification letter from a lender shows sellers that you are a serious buyer. It signals that you have taken steps to secure financing and are ready to make a purchase. This can be particularly beneficial in multiple-offer situations, where a pre-qualified buyer may be more attractive than one who hasn’t taken this step. Sellers like serious offers from buyers. Having a pre-qualification letter shows that you are a serious buyer and is a huge advantage to having your offer excepted.

4. Avoiding Surprises

One of the biggest advantages of pre-qualification is that it can help you avoid unpleasant surprises down the road. By understanding your loan options and the amount you are likely to qualify for, you can plan your home search more effectively. This can prevent issues such as unexpected loan rejections or financing problems that could derail your purchase.

5. Negotiating Power

When you are pre-qualified, you have a stronger negotiating position. Sellers are often more willing to negotiate on price or terms with buyers who have already been pre-approved for a loan. This can give you the confidence to make offers that are both competitive and attractive to sellers.

6. Streamlining the Mortgage Process

Pre-qualification is often the first step in the mortgage process. It can make the final approval process smoother and faster. When you’ve already been pre-qualified, much of the groundwork is laid, making it easier for your lender to finalize your mortgage when you find the home you want to buy.

7. Reducing Stress

Buying a home can be a stressful experience, but pre-qualification can help alleviate some of that stress. Knowing your budget and having a pre-qualification letter in hand can make you feel more confident and less anxious throughout the buying process. This peace of mind is invaluable when navigating the complexities of real estate transactions.

How to Get Pre-Qualified

Getting pre-qualified is a straightforward process. Here’s how you can get started:

Gather Your Documents: Collect important financial documents, such as recent pay stubs, tax returns, W-2 forms, and bank statements. Having these documents ready will make the process smoother.
Contact a Lender: Reach out to a lender or mortgage broker to begin your pre-qualification. You can also explore online mortgage pre-qualification tools. Make sure to provide accurate information to get the most precise estimate. Ask your real estate agent for a list of mortgage brokers they have worked with and ask about their track record.
Submit Your Information: Complete a pre-qualification application, which typically requires details about your income, debts, and credit history. The lender will review this information and give you an estimated loan amount.
Receive Your Pre-Qualification Letter: Once approved, you’ll receive a pre-qualification letter outlining the loan amount you are likely to qualify for. This letter is essential when making an offer on a home.

How Your Real Estate Agent Can Help

A knowledgeable real estate agent can be invaluable in guiding you through the pre-qualification process. Here’s how they can assist:

Recommend Trusted Lenders: Experienced agents have established relationships with reputable lenders. They can refer you to professionals who have a proven track record of helping buyers secure financing quickly and smoothly. Ask your agent for a list of lenders.
Provide Guidance: Your agent can help you understand the pre-qualification process. They can also answer some of the questions you have, making the process less intimidating. Although real estate agents can not give you specific lending details such as interest rates, loan terms, pre-payment penalties, and loan fees, (a licensed mortgage broker can), they can offer you some guidance in the process and point you to a knowledgable mortgage broker.
Streamline the Process: With their network and expertise, your agent can help expedite your pre-qualification, ensuring you are ready to make a competitive offer when they help you find the right home. Always make sure to shop around for lenders you feel comfortable with and who have options to fit your situation.

Conclusion

Pre-qualification is a crucial step for home buyers. It provides clarity on your budget, enhances your credibility, speeds up the buying process, and gives you a significant advantage in a competitive market. If you’re considering buying a home, take the time to get pre-qualified. It’s a small step that can lead to a smoother, more successful home buying experience.

Ready to get started? Contact me today for trusted lender referrals and expert guidance. Take the first step toward finding your new home!

Uncategorized • July 29, 2024

How to Find a House in Your Budget That You Can Turn Into Your Dream Home

by Stephanie Montalvo

Finding a house that you can transform into a cozy home is a journey that combines vision, patience, and a little bit of creativity. Here are some tips to help you identify a property with the potential to become a space where you and your family can create lasting memories:

1. Identify Your Must-Haves and Deal Breakers

Before you start your search, make a list of your non-negotiables and your wish list. Consider factors such as the number of bedrooms, proximity to schools and work, neighborhood safety, and outdoor space. Knowing what you need will help you narrow down your options and focus on properties that meet your criteria.

2. Look Beyond the Surface

When touring homes, it’s easy to get distracted by outdated decor or a less-than-perfect layout. Try to look beyond these superficial aspects and envision the potential. Consider the bones of the house—structure, layout, and natural light. A home with good bones can often be renovated to suit your style and needs.

3. Consider the Location

Location is a crucial factor in making a house a home. Research the neighborhood’s amenities, schools, parks, and community vibe. A great location can enhance your quality of life and make your home more enjoyable and valuable in the long run. Don’t underestimate the impact of a friendly neighborhood on your sense of belonging.

4. Assess the Potential for Improvement

Identify homes that offer opportunities for renovation or customization. Look for properties with a layout that can be reconfigured, spaces that can be opened up, or areas that can be updated with your personal touch. Consider the cost of renovations and whether the property’s price allows room for these improvements within your budget.

5. Think About Future Needs

Consider your long-term plans and how the house can accommodate your family’s growth and changes. Whether you’re planning to expand your family, work from home, or need more space for hobbies, ensure the house has the flexibility to grow with you. A home with versatile spaces can be adapted to meet your evolving needs. Keep the surround land in mind too. Is there room to add a she shed or man cave on the property?

6. Visualize the Possibilities

Use your imagination to picture how you could transform each space. Look for opportunities to add character, such as installing new flooring, painting walls, or adding fixtures that reflect your style. Think about how you can create cozy nooks, functional spaces, and areas that foster connection and comfort.

7. Use AI Tools for Visualization

Modern technology, especially AI-powered design tools, can be incredibly helpful in your search. Use these tools to virtually decorate photos of the house. This allows you to see how different furniture, color schemes, and layouts would look in the space, helping you determine if the house can work for your needs. Many real estate websites and apps offer virtual staging options that can bring your vision to life, some even allow free trials.

8. Work with a Real Estate Agent Who Understands Your Vision

A knowledgeable real estate agent can be a valuable asset in your search. Look for someone who understands your vision and can help you find properties with potential. They can provide insights into the market, negotiate on your behalf, and connect you with trusted contractors and designers who can help you realize your dream.

9. Consider the Cost and Timeline

While it’s exciting to imagine the possibilities, be realistic about the costs and timeline of any renovations. Get quotes from contractors, check permits, and have a clear budget in mind. This will help you avoid any surprises and ensure that your dream home is within reach.

10. Trust Your Instincts

Ultimately, trust your gut feeling. When you walk into a house, pay attention to how it makes you feel. A home should resonate with you emotionally, offering a sense of peace, comfort, and possibility. If you feel a strong connection to the space, it’s likely that you can transform it into a welcoming home for you and your family.

Conclusion

Finding a house that you can turn into a comfortable home is a rewarding journey. By knowing what you want, looking beyond the surface, and envisioning the potential, you can find a property that will become a cherished sanctuary for you and your loved ones. With the right approach, a bit of creativity, and the use of modern tools like AI for visualization, you can turn any house into a home filled with love, memories, and endless possibilities.

Contact me today to find your home!

Buyers • Green Living Properties • Sellers • Uncategorized • July 24, 2024

Embracing Green Living on a Small Property: A Guide to Sustainable and Sustainable Living

by Stephanie Montalvo

In an age where sustainability is more important than ever, many are turning to small properties as a way to reduce their environmental impact while still enjoying the benefits of homeownership. Whether you’re looking to downsize, simplify your life, or make a positive impact on the planet, buying a small property for green living can be a rewarding and fulfilling choice. As a Certified Florida Master Gardener, this area of real estate holds a special place in my heart. Please reach out to me so we can talk about your ideal sustainable property.

Here’s a guide to help you make the most of your small space while embracing sustainable living.

Why Choose a Small Property?

1. Lower Carbon Footprint: Smaller homes consume fewer resources for construction and maintenance, and they require less energy for heating and cooling. This inherently reduces your carbon footprint.

2. Cost-Effective: Smaller properties often come with lower costs, from the initial purchase price and downpayment to ongoing maintenance and utility bills. This makes sustainable living more accessible. Save time and money with a smaller green property you can intentionally use to grow food, create shade to cool your home, and enjoy simple natural surroundings without lawn upkeep and high expenses.

3. Less Waste: With limited space, it’s easier to adopt minimalist living principles, reducing clutter and minimizing waste. This can lead to a simpler, more intentional lifestyle. Forget all the waste of mowing, spraying, watering and upkeep of a property that has a large traditional lawn. Go small and green and save time, money, and wasted resources.

4. Community Connection: Smaller properties often foster a sense of community, allowing for closer connections with neighbors and local networks. This can enhance your support system and promote sustainable practices within your community. Sharing tools, ideas, and practices that work well on your small property is a great way to build a strong community and support system.

Planning Your Green Retreat

1. Research and Location: Start by identifying locations that align with your sustainable living goals. Consider areas with good access to public transportation, local produce markets, and community gardens. This is a great time to start working with a knowledgable REALTOR®.

2. Set Your Goals: Determine what you want to achieve with your green living project. Whether it’s growing your own food, reducing waste, or using renewable energy, having clear goals will guide your decisions.

3. Evaluate the Property: Look for properties that offer the potential for sustainability features such as solar exposure, natural water sources, or existing trees and plants. A site with good soil quality and a stable microclimate can be a significant advantage.

Creating a Sustainable Space

1. Eco-Friendly Design: Opt for designs that maximize natural light and ventilation. Use materials that are sustainable, locally sourced, and energy-efficient. Consider features like green roofs, rainwater harvesting systems, and composting toilets.

2. Smart Gardening: Even on a small plot, you can create a thriving garden. Use vertical gardening techniques, raised beds, and container gardening to make the most of your space. Choose native plants that require less water and care. Your local Master Gardener’s office is a fantastic resource to learn more.

3. Renewable Energy: Explore options for solar panels, wind turbines, or even small-scale hydroelectric systems. Many small properties are well-suited to these technologies, making them a great investment for long-term sustainability.

4. Water Conservation: Install rain barrels to collect rainwater for your garden, and use drought-resistant plants to minimize water usage. Consider installing a greywater system to reuse water from sinks and showers.

Living Sustainably

1. Reduce, Reuse, Recycle: Embrace a lifestyle of minimalism and waste reduction. Compost kitchen scraps, upcycle old items, and recycle everything you can. This not only reduces waste but also saves money.

2. Grow Your Own Food: Start a vegetable garden, herb garden, or fruit trees. Growing your own food reduces your carbon footprint and provides fresh, organic produce right at your doorstep.

3. Embrace Energy Efficiency: Use energy-efficient appliances, LED lighting, and programmable thermostats to reduce energy consumption. Insulating your home properly can also significantly cut down on heating and cooling costs.

4. Connect with Your Community: Join local sustainability groups, participate in community gardens, or start a neighborhood composting program. Building strong community ties can enhance your green living experience and amplify your impact.

Conclusion

Buying a small property for green living is more than just a lifestyle choice; it’s a commitment to a more sustainable, fulfilling way of life. With careful planning and a focus on sustainable practices, you can transform a small space into a haven of green living, reducing your environmental footprint while enjoying the many benefits of a simpler, more connected life. Start your journey today and join the growing movement towards a greener, more sustainable future.

Pro Tip-talk to your agent about homesteading and the cost savings with a smaller property.

Reach out to me today so we can start the search for your new green living space.

Buyers • Green Living Properties • Uncategorized • July 23, 2024

Tips for first time home buyers

by Stephanie Montalvo

Buying your first home can be an exciting yet daunting experience. Here are some initial steps to help guide you through the process:

Assess Your Financial Situation:
- Credit Score: Check your credit score and report. A higher score can help you secure better mortgage rates. Lower rates mean lower monthly payments.
- Savings: Ensure you have enough savings for a down payment, closing costs, and an emergency fund. A good range is 3-20% down for the home you can afford.
- Budget: Determine how much house you can afford by reviewing your income, expenses, and debt. Look at how much you are currently paying for rent and then work backwards to see how much house you can afford.
Research and Prepare:
- Mortgage Options: Familiarize yourself with different types of mortgages and interest rates. Consider getting pre-approved for a mortgage before shopping for homes, this will help you know what the banks think you can afford.
- First-Time Homebuyer Programs: Look into programs and incentives for first-time buyers, such as grants or tax credits. They are always changing so keep looking monthly.
Choose a Real Estate Agent:
- Find a reputable agent who understands your needs and can guide you through the buying process. Interview a few agents to get an idea of who makes you feel comfortable. Century 21 has a long history of helping buyers find their first home with resources that you may not find with other agencies. Give me a call so we can start your journey today.
House Hunting:
- Prioritize Needs and Wants: Make a list of your must-haves and nice-to-haves, be realistic at this time in your life. You can always sell, make a profit and work towards your dream home.
- Research Neighborhoods: Consider factors such as schools, commute, amenities, and safety.
- View Properties: Visit multiple homes to get a sense of what’s available within your budget. Open houses are a great way to explore the market and get a good idea of what you like and don’t like. It’s also a great way to find an agent you like.
Make an Offer:
- Work with your agent to make a competitive offer based on the market conditions and the home’s value. Remember the market dictates the housing market. If the current market doesn’t fit your needs and budget you can wait and watch or look at other areas that may fit your budget.
Home Inspection:
- Hire a professional inspector to check for any issues with the property. This can help you avoid costly repairs in the future.
- Look for inspectors that offer guarantees. For example roof warranties.
- Go around the home with the inspector to get a better idea of the condition of the home before you purchase. If you find things that change the value of the home you can negotiate the price.
Secure Financing:
- Once your offer is accepted, finalize your mortgage application with your lender and lock in your interest rate. Your rate can change so talk to your lender about locking in your rate to secure the best price.
Closing Process:
- Review and sign all necessary paperwork, including the loan documents and the deed.
- Pay closing costs, which can include loan origination fees, appraisal fees, and title insurance.
Move In:
- After closing, you’ll receive the keys to your new home. Plan your move and set up utilities and services.
- Century 21 has a program to help you with all the details of moving. Call me today to learn more.
- Enjoy your new investment!

Buyers • Green Living Properties • Sellers • Uncategorized • July 19, 2024

Here are five compelling reasons to consider selling your home and downsizing in any market

by Stephanie Montalvo

Financial Savings:
- Lower Monthly Expenses: Smaller homes generally have lower mortgage payments, property taxes, insurance costs, and utility bills.
- Increased Cash Flow: Selling a larger home can free up equity, providing additional funds for investments, travel, or other interests.
Simplified Maintenance:
- Reduced Upkeep: A smaller home means less space to clean and maintain, which can save time and reduce stress.
- Lower Repair Costs: Fewer systems and less square footage often result in reduced maintenance and repair expenses.
Lifestyle Flexibility:
- More Freedom: Downsizing can offer the flexibility to pursue hobbies, travel, or relocate closer to family and friends.
- Adaptability: A smaller, more manageable living space can be better suited to changing health and mobility needs as you age.
Environmental Impact:
- Energy Efficiency: Smaller homes typically consume less energy, leading to a smaller carbon footprint and lower utility bills.
- Sustainable Living: Downsizing encourages a more minimalist lifestyle, reducing waste and promoting sustainability.
Market Conditions:
- Seller’s Market: When the real estate market is favorable, or you purchased for far less, selling your home could yield a higher profit and put cash in your pocket.
- Interest Rates: Taking advantage of lower mortgage rates, specialty incentive programs, and creative financing can make purchasing a smaller home more affordable and financially advantageous.

Each of these reasons can vary based on individual circumstances, so it’s important to assess your personal situation and priorities before making a decision. Feel free to contact me today so we can see what is available for your unique situation. There are so many options out there, let me help you find them.

Call or message me today!

Buyers • Green Living Properties • Sellers • Uncategorized • July 18, 2024

Your Guide to Natural Florida Living

by Stephanie Montalvo

Stephanie (Steph) Montalvo is more than just a real estate agent; she’s your guide to finding your ideal home in sunny Florida. With a passion for natural living and a keen eye for matching individuals with their perfect properties, Steph specializes in helping clients embrace the sunshine state lifestyle and connect with properties that align with their values.

Personalized Real Estate Solutions-Whether you’re searching for a serene 1-acre plot to cultivate your permaculture oasis or dreaming of a luxurious waterfront retreat, Steph is dedicated to making your real estate journey easier. Her personalized approach ensures that each client receives tailored solutions to meet their unique needs and preferences.
Customized Commission Rates–Steph offers clients the flexibility to choose their commission rate from a list of options, ensuring that you receive the best value and service tailored to your budget.
Expertise in the Real Estate Transaction Process–Steph specializes in the real estate transaction process, guiding you through each step with ease and confidence. From initial consultations to closing the deal, she is there to ensure every detail is managed smoothly and efficiently.
Innovative Marketing Options-With a variety of marketing options at her disposal, Steph ensures that your property stands out in the competitive real estate market. From professional photography and virtual tours to targeted online advertising and open house events, every listing gets the attention it deserves.
Simplified Home Buying and Selling-Beyond simply buying or selling homes, Steph is committed to simplifying the entire process for her clients. With a wealth of tools and resources at her disposal, she ensures that every transition flows smoothly and easily, allowing you to focus on settling into your new home and embracing your unique lifestyle.