This is a guest post written by Mike Krumholz of Fairway Mortgage:Mike Krumholz

I wanted to give you an update on where things are in the Mortgage World to date.  Our market is currently very fluid, so we are getting updates all the time.  These changes are not unique just to Fairway – this of course is industry wide.   

Summary of how servicers impact the mortgage business and what is causing them to pause

To be very transparent the mortgage business is in a tough place currently.  It’s not because of lack of business… it truly is because of a bottleneck that is forming at the servicer level.  The problem arose from the fastest ever economic adjustment the world has ever seen.  Here is a high level explanation of how the process works:

  • We help you…

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 If you are thinking of buying or selling a property in the Boca Raton area, you probably have some preconceived ideas about the process. Here are a few of the common misconceptions that we agents encounter:

  1. You should list your house a little bit higher than the market to leave room for negotiating. Anyhow, if it is priced too high you can always lower it.
    Listing your home at too high a price might actually result in you getting less than if you had priced it properly from the start. With virtually all buyers doing research online, they are very well-informed about the state of the market and what prices should be. Buyers and their agents will not look at a property that they perceive as overpriced. The more buyers that see your house, the…

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Real estate market prices are always dictated by supply and demand. In a seller’s market, there are more buyers than sellers, thus inventory levels decrease. When this happens, the supply is reduced and prices inevitably rise. In many segments of our local real estate market, we are seeing quick sales and often multiple offers. So what can you do to help your offer stand out so you can get your dream home? 

Don’t Lowball ~ Know the Market
As they say, “You only have one chance to make a first impression”. You need to understand the market, that is knowing what is currently on the market as well as what other comparable homes have recently sold for.  In a seller’s market with the potential of multiple offers, your lowball offer will be immediately…

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It’s certainly no secret that the spring season is one of the busiest times of the year for the Boca housing market. And with more people looking to buy a home or condo, chances are you may find yourself in a bidding war if you too are in the market for a new home or vacation residence.

But as the busy spring market fast-approaches, facing stronger buyer competition doesn’t always result in a more stressful home buying experience, as long as you’re well-prepared. And as we’ll discuss below, offering the most money isn’t the only bidding war strategy to consider when you find yourself competing for an available listing.

All-Cash Offers Are King

While not everyone is able to pony up the cash for a new place, doing so greatly improves your chances…

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Do You need an attorney when buying or selling a property in Florida? This is a question that we receive frequently in our real estate practice at our Boca Raton real estate brokerage. The answer is both yes and no. It is not required but you do need one.
Unlike many states, Florida law does not require you to involve a lawyer in closing a real estate transaction. Real estate agents are trained to complete contracts (i.e. fill in the blanks) which are prepared by the Florida Bar in conjunction with the Florida Association of Realtors. Regardless of the experience or expertise of your Realtor, most are not attorneys. In my opinion, you do need an attorney to represent your interests as well as to protect you should problems arise. There are many potential…

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Hurricane Irma has devastated much of Florida, and we in the Boca Raton area have emerged very lucky and intact compared to much of our state. As a business owner and real estate broker, what follows is my opinion of its impact on our local community and residential real estate market in its aftermath. 

I have read several studies about the effects of hurricanes on residential real estate. Considering previous major hurricanes in Florida starting with Hurricane Andrew in 1992, the number of real estate closings dropped sharply in the months immediately following the event. However, these numbers rebounded within 3 months. Median prices also dipped compared to the rate of change in the national market. Within a year of most major (Category 3 or above)…

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House Hunting Back To school

If you’ve visited your local supermarket in recent weeks, you’ve probably noticed the tell-tale signs that school is about to begin: colorful notebooks lining the shelves, shopping lists placed out front, and parents and kids racing through the aisles to get every item. While this marks a busy and exciting time for most individuals with school-aged children, it may raise some concerns for those parents who are also knee-deep in house hunting.

If summer got away from you before you located the ideal home, our Boca Raton real estate agents have three helpful tips for house hunting during the back-to-school season. 

1. Research the School Zones

When making a move with school-aged children in tow, their educational needs often becomes the most…

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Just Sold  $590,000

This fabulous Bimini model with 3 bedrooms + den sits on an upgraded lake lot with expanded, enclosed patio for the ultimate outdoor retreat. 

Upgrades include 20" porcelain floors, all cabinets with pull-outs, upgraded appliances, all bathrooms feature marble and granite, jacuzzi tub in the master, and much more!! 

Valencia Cove is a brand-new active adult resort-style community built by GL homes, the second largest private homebuilder in Florida. 

The 10-acre lifestyle complex offers a Social Director, Athletic Director, and full-time tennis pro. 

Other amenities include a fabulous 39,000 square foot clubhouse, Grand Ballroom, catering kitchen, fitness center, resort-style pool, resistant and lap pool,…

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When you live in South Florida, it can seem as though there’s always a new restaurant popping up — probably because there is! In fact, it can be hard to keep up with them all, unless of course you’re one of our Palm Beach County real estate agents. Our agents are experts in the local area, and can advise those who are new to the area of all of the best new restaurants in Palm Beach County to check out.

Here are five spots that your tastebuds will surely thank you for visiting.

 1. Louie Bossi’s, Boca Raton

If you’re in search of authentic Italian food made from scratch, visit Louie Bossi's Ristorante, Bar and Pizzeria. Its menu (written in Italian, naturally) offers a wide range of delectable dishes, from pastas, to oven-baked pizza and even…

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Many who make the move to South Florida come in search of a tropical paradise. That search stops at Ocean Ridge, a community regarded for its sunshine, ocean breezes and beautiful coastal Palm Beach County homes.

Life in Ocean Ridge

Located along A1A just east of Boynton Beach, Ocean Ridge is home to just under 2,000 people. These residents enjoy a private lifestyle rich in excitement in a town lifted right out of a postcard. A calming day on the beach filled with sunbathing and saltwater fishing can be had at Ocean Ridge Hammock Park, while those in search of a thrill can enjoy jet skiing and more at Ocean Inlet Park. For the nature lover, Ocean Ridge Natural Area certainly does not disappoint with a nursery and feeding habitat flourishing with…

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