Keith LaBrunda - RE/MAX Select, Author at Countryside Homes NJ

Consider the Advantages of Buying a Newly Constructed Home

Advice, Buyer, Construction, Market Trends, Real Estate / By Keith LaBrunda - RE/MAX Select

Hesitant to sell your home due to concerns about finding a desirable new place? It might be the perfect moment to think about the advantages of purchasing a newly constructed home. Here’s why this could be a beneficial choice. Surge in New Home Inventory The presence of newly constructed homes in the current housing market is growing significantly. The latest report from the National Association of Home Builders (NAHB) reveals: “Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.” This indicates that the share of […]

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Understanding the Impact of Lower Mortgage Rates on Home Buying Power

Advice, Buyer, Market Trends, Mortgage Rates, Real Estate / By Keith LaBrunda - RE/MAX Select

Knowing the influence of mortgage rates on your purchasing capacity and monthly payments is crucial when considering buying a home. Thankfully, 30-year fixed mortgage rates have significantly decreased since late October, now falling below 7% as reported by Freddie Mac (refer to the graph below): This downward trend in rates is a positive development for prospective home buyers. As Bankrate recently highlighted: “The rate cool-off somewhat eases the housing affordability squeeze.” Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA), also notes: “MBA expects that affordability conditions

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The Importance of Pre-Approval in the Homebuying Process

Advice, Buyer, Mortgage, Real Estate / By Keith LaBrunda - RE/MAX Select

Embarking on the journey of buying a home? Don’t overlook the vital step of getting pre-approved. Before you start envisioning life in your new home, ensure you’ve engaged with a reliable lender, like Mark Scocco with Crown Home Mortgage, to secure this key part of the homebuying process. Here’s why it’s so crucial. Despite a recent moderation in home prices and a decrease in mortgage rates, affordability remains a challenge. Additionally, the current limited housing inventory continues to fuel competition among buyers. However, with a strategic approach, including pre-approval, you can effectively navigate the market. The Role and Benefits of

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Important Questions to Ask Yourself When Thinking About Buying a Home

Advice, Buyer, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Select

As you contemplate purchasing a home this year, it’s likely you’re more attuned to the housing market’s fluctuations than usual. Your sources of information are diverse, ranging from news outlets and social media to discussions with real estate agents, friends, and family. Topics like home prices and mortgage rates are probably frequent in these conversations. Here are two critical questions to ponder in your decision-making process, supported by data to help navigate through the myriad of information. 1. What are My Predictions for Home Prices? A credible source for home price forecasts is the Home Price Expectations Survey by Fannie

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Understanding the Current Mortgage Landscape in New Jersey: 2024 Outlook

Advice, Buyer, Market Trends, Mortgage Rates, Real Estate, Seller / By Keith LaBrunda - RE/MAX Select

As we step into 2024, it’s essential for homebuyers and homeowners in New Jersey to stay informed about the current mortgage interest rates, recent trends, and what to expect in the year ahead. Here’s a detailed look at the mortgage landscape in New Jersey, using up-to-date statistics and facts. Current Mortgage Interest Rates in New Jersey As of January 1, 2024, the mortgage interest rates in New Jersey are experiencing a period of fluctuation. The current interest rates listed on Bankrate.com stand at 7.00% for a 30-year fixed mortgage and 6.35% for a 15-year fixed mortgage. These rates reflect the

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Three Focus Points for Achieving Homeownership in 2024

Advice, Buyer, Real Estate, Seller / By Keith LaBrunda - RE/MAX Select

Attention Home Buyers and Sellers: If your 2024 ambition involves purchasing or selling a property, grasping the current real estate market dynamics, identifying your core reasons, and collaborating with seasoned professionals are vital steps to crystallize your homeownership aspirations for the upcoming year. The past year witnessed significant economic influences on the real estate sector, impacting your finances as well. Understanding not only the present market conditions but also your personal objectives in buying or selling a property is crucial. Danielle Hale, Chief Economist at Realtor.com, advises: “The key to making a good decision in this challenging housing market is

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Considering Retirement? Relocating Could Be an Ideal Next Step

Advice, Buyer, Real Estate, Seller, Senior Housing / By Keith LaBrunda - RE/MAX Select

Attention Homeowners and Baby Boomers Nearing Retirement As you approach retirement or if you’ve recently retired, now is an opportune moment to evaluate whether your current residence still suits your evolving lifestyle and needs. You might be in a stronger position to relocate than you think. Here are several factors to ponder as you contemplate selling your home and moving. Duration of Residence in Your Current Home Between 1985 and 2008, homeowners typically stayed in their homes for about six years. However, recent data from the National Association of Realtors (NAR) indicates an increase in this duration, suggesting that many

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Are You Saving Towards a Home Purchase in 2024?

Advice, Buyer, Real Estate / By Keith LaBrunda - RE/MAX Select

Planning to purchase a home can seem daunting, especially when it comes to budgeting and saving. However, with the right guidance, this process can be simplified. Engaging with experienced real estate professionals is a crucial step. They can assist in devising a plan, offering a detailed look at your budget, and guiding you through the initial stages of home buying. Consider these key points recommended by experts: Down Payment The down payment is often a primary focus for prospective homebuyers. It’s important to know how much you need to save. A common misconception is the necessity of a 20% down

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The Importance of Using a Real Estate Agent When Buying a Home

Advice, Buyer, Real Estate / By Keith LaBrunda - RE/MAX Select

Embarking on the journey to homeownership can be daunting, especially when you’re unsure where to begin. Fortunately, you don’t have to face this journey alone. Navigating the home-buying process involves numerous complexities, particularly in the current housing market characterized by limited inventory, high property prices, and elevated mortgage rates. To successfully maneuver through these challenges, it’s crucial to have the support of a knowledgeable and trustworthy real estate agent. Real Estate Agents: A Critical Resource in Home Buying According to the National Association of Realtors (NAR)’s latest annual report, homebuyers overwhelmingly recognize real estate agents as the most valuable source

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Why the Economy is Unlikely to Cause a Housing Market Collapse

Advice, Buyer, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Select

Concerns about a potential recession are widespread. In recent years, there’s been considerable discussion about the possibility of a recession, sparking fears that it could lead to a significant increase in unemployment. Some are even apprehensive that this could result in a foreclosure crisis reminiscent of the one experienced 15 years ago. Yet, the most recent Economic Forecasting Survey by the Wall Street Journal (WSJ) indicates a shift in perspective. For the first time in over a year, less than half of the economists surveyed (48%) predict a recession in the coming year: “Economists are turning optimistic on the U.S.

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Author name: Keith LaBrunda - RE/MAX Select

Consider the Advantages of Buying a Newly Constructed Home

Understanding the Impact of Lower Mortgage Rates on Home Buying Power

The Importance of Pre-Approval in the Homebuying Process

Important Questions to Ask Yourself When Thinking About Buying a Home

Understanding the Current Mortgage Landscape in New Jersey: 2024 Outlook

Three Focus Points for Achieving Homeownership in 2024

Considering Retirement? Relocating Could Be an Ideal Next Step

Are You Saving Towards a Home Purchase in 2024?

The Importance of Using a Real Estate Agent When Buying a Home

Why the Economy is Unlikely to Cause a Housing Market Collapse

PLANT YOUR ROOTS AND GROW YOUR DREAMS
WITH THE COUNTRYSIDE TEAM

Author name: Keith LaBrunda - RE/MAX Select

PLANT YOUR ROOTS AND GROW YOUR DREAMSWITH THE COUNTRYSIDE TEAM

PLANT YOUR ROOTS AND GROW YOUR DREAMS
WITH THE COUNTRYSIDE TEAM