Peter Edmunds Realtor

Hello FB friends/family, I hope you'll are doing good.

Some of you maybe at a point where you are thinking about renewing your Lease or buying a residential property. As a Real Estate Advisor and homeowner, I would suggest that you buy if you can afford to service the mortgage for the following reasons:
1. Your monthly rent payment goes up each time you sign/renew your Lease as Landlords claim the increase is used to mitigate rising inflation. However, with a fixed-rate mortgage, your monthly payment is fixed for the term of the mortgage.
2. When you rent, you don't get a return on your investment; instead, your landlord benefits from writing-off the deprecation expense of the property on their Income Statement and Tax Return. However, as home prices increase and as you pay down your mortgage you build equity.
3. As you pay rent, it is more difficult to save money for the down payment needed to buy a home. Having said that, when you own your property, you build equity over the years and in turn you increase your Net Worth.
4. When you own your home, the interest portion of the mortgage is tax deductible (on the first $750K of mortgage debt).

If you are ready and able to enjoy the benefits of homeownership, you can contact me at (561 410 6018 or email - [email protected]) and we can discuss your goals and options; visit our website for other financial services provided - www.caribbeanmortgagegroup.com - .......have an awesome day!

Caribbean Mortgage Group – Mortgages made easy! » Our services extend to residents and non-residents in the following Caribbean Islands :Barbados; British Virgin Islands; Cayman Islands; Dominica; St. Kitts & Nevis; Saint Lucia; St.Vincent & The Grenadines and Turks & Caicos Islands.

Hello FB friends/family, I hope you'll are doing well.

If you are still in the middle of making your decision on whether to rent or buy, you may wonder if you missed the boat on the big net worth boost. But here is what you need to realize......as a recent article by the NAR explains " buying a home can be a great way to grow your net worth, since home values have a tendency to appreciate and rise in value over time". Furthermore, the Feds recently published data on the average Net Worth of home owners vs Renters and it was very clear that homeowners had a huge advantage - $396K vs $10K.

In addition to growing your Net Worth through accruing equity in your property over time, there are other financial benefits in homeownership:
1. The interest on your mortgage is tax deductible (in most cases - the first $750K of mortgage debt).
2. The equity in your property can fund a small business, pay for your children's education, fund costly repairs to your property which in turn will increase the basis of the property).
3. Create generational wealth.
4. Real Estate is a safer and better Invesment in the long term than Stocks, Bond, Gold and Silver.

If you are ready and able to buy your dream home, give me a call at (561) 410 6018 and we can discuss your goals and options......you can also reach me at [email protected].

Visit our website for other financial services offered - www.caribbeanmortgagegroup.com - .......have an awesome weekend!

Caribbean Mortgage Group – Mortgages made easy! » Our services extend to residents and non-residents in the following Caribbean Islands :Barbados; British Virgin Islands; Cayman Islands; Dominica; St. Kitts & Nevis; Saint Lucia; St.Vincent & The Grenadines and Turks & Caicos Islands.

Hello FB friends/family, I hope you'll are doing fine. I have been pre-occupied studying to become a certified Tax Preparer with the Internal Revenue Service (IRS) through H & R Block. Now that I have successfully completed the course, I can now refocus on my real estate articles.

The attached article speaks to Gen Z, however it can also apply to first time home buyers. The following are some of my suggestions for first time homebuyers regarding homeownership:
1. If you are renting or looking to rent an apartment, you can share with a roommate and split the rent and utilities thereby allowing you to save money for your down payment.
2. If it is possible and you can live longer with your parents (and help with the bills), you can save the required down payment for your purchase faster.
3. The Seller can fund the downpayment and in return they will take a second mortgage on the property. After a few years, you would have built up some equity in the property at which point you have the property appraised and hopefully you can get the Bank to refinance the mortgage and pay off the second mortgage.
4. As the article mentioned, there are many down payment assistance programs available for first time homebuyers; you can research the internet for further details.
5. You don't need a larger deposit to acquire for first home; this a common myth. For first time home buyer, you can qualify for an FHA mortgage which only requires 3.5% downpayment.....e.g. a home/condo/townhouse costing $300K, the required down payment is only $10.5K which equated to a savings of $438 pm over 24 months, very doable.

If you are disciple and serious about homeownership, the foregoing is a road map which is achievable and within reach. If you have the right strategies in place, you can turn your dream of owning your home into a reality. Give me a call at (561) 410 - 6018 and we can discuss your goals and options.
You can also reach me at [email protected].......visit our website - www.caribbeanmortgagegroup.com - for other financial services provided. If you are a US citizen/permanent resident and you need assistance/advice with your tax return, please contact........have an awesome day!

Affordable Homeownership Strategies for Gen Z The idea of owning a home has always been a big part of the American Dream.

Hello FB friends/family, I hope you'll are doing fine.
The attached article provides some valuable information for first-time homebuyers especially with regards to 1) the importance of a good/high credit score and 2) getting a pre-approval from a Lender before you begin your house search.
If you are ready to begin the homebuying process, we can meet to discuss your specific goals, finances and situation.....you can reach me at (561) 410 6018 or at [email protected]. Have an awesome day!

Financial Fundamentals for First-Time Homebuyers Are you prepping to buy your first home?

Hello FB friends/family, I hope you all are doing fine.

If you are thinking of selling your home this Winter, here are three (3) reasons why you shouldn't wait until 2023 to make that decision:
1) Based on the attached data, it is still a Seller's Market since inventory (whilst it's growing) is still low at < 6 months supply (it's a Buyer's Market when inventory is at least 6-7 months).
Accordingly, if your home is priced 'right' you should be able to get the fair market value.
2) Millennials are still looking for their dream home as they move into their prime home-buying years, creating a demand for single family homes.
3) Rents are still very high and many buyers are looking to avoid falling into the rental trap in 2023.

If you need help/advice with 1) The decision to sell and 2) Calculating your equity in your existing home, give me a call and we can discuss your goals and plans..........have an awesome day!

Reasons To Sell Your House This Season [INFOGRAPHIC] Some Highlights If you’re planning to make a move but aren’t sure if now’s the right time, here are a few reasons why you shouldn’t wait to sell your house. The supply of homes for sale, while growing, is still low today. Plus, serious buyers are out looking right now, and many are hoping to...

Hello FB friends/family, I hope you'll are doing fine.

In light of the current economic climate, many of you who are thinking about buying a home maybe second guessing you decision due to - 1) High inflation 2) Higher interest rates and 3) A housing crash. My advice to you is if you are ready and able to buy your dream home, please continue to pursue your plans instead of continuing to rent for the following reasons:
1) Inflation will eventually get back under control at a more management level; this is the goal/aim of the Federal Reserve Bank.
2) As inflation cools off to normal levels, mortgage interest rates in turn will decrease as well. At this point you can refinance your mortgage to benefit from a lower interest rate and in turn a
lower monthly payment.
3) With much stringent lending standards now in place (requirement of the Federal Reserve Bank from 2008) the probability of a housing crash is very slim when compared to the crash in 2008. According to the NAR, home are projected to appreciate (at a moderate rate) NOT depreciate.
4) By pay down on your mortgage, you will be building equity over time, which will in turn increase you Net Worth.
5) By investing in a multi-family unit (instead of a single family home) you can live rent free and let the other tenants service your mortgage; this one of the best ways to create
generational wealth.

To help you understand just how much owing a home can have a positive impact on your life over the years, take a look at what the data shows on the attached chart. The gap between the wealth of homeowners vs renters is quite substantial, even when incomes are similar.

Before putting your homeownership plans on hold, give me a call (561 410 6018) to review/discuss your options......have an awesome day1

Homeownership Is an Investment in Your Future There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out.

Hello FB friends/family, I hope you'll are doing fine.

While we have seen an increase in interest rates over the past few months (due to rising inflation), if you are ready and able to buy your dream home, you should still give it serious consideration for the following reasons:

1) Due to the increase in interest rates, demand for homes has decreased which in turn has caused the inventory supply to increase. Accordingly, the pool of homes for sale has grown which
bodes well for homebuyers; less competition in the marketplace.

2) The Housing Market is not expected to crash like it did in 2008 since lending standards have tightened significantly by the Regulators. Therefore, the projection for foreclosures are much
less than the 2008 housing crash since homeowners are in a better financial position to service their mortgages; home prices are expected to appreciate but at a moderate rate.

3) It is better to own your home instead of renting for the following reasons:
a) You will be building equity in the property as you pay down your mortgage.
b) In turn, your equity will cause your Net Worth to increase.
c) The interest portion of your mortgage payment is tax deductible.
d) Certain home improvements can be tax deductible.

4) As inflation cools down, mortgage rates in turn will fall at which point you can refinance your mortgage and benefit from a low interest rate and in turn a low mortgage payment.

When interest rates come down, those waiting on the sidelines will jump back into the search for their dream home; your advantage is getting in before they do. If you are thinking about buying a home, you should consider the abovementioned points and take advantage of what today's market offers.

If you are ready and able to become a homeowner, give me a call (561 410 6018) and we can discuss your options......have an awesome day!

Key Advantages of Buying a Home Today There’s no doubt buying a home today is different than it was over the past couple of years, and the shift in the market has led to advantages for buyers today.

Hello FB friends/family, I hope you'll are doing fine.

The attached article provides some useful information (a checklist) for those planning to sell their home this Winter. However, while the information is valuable, working with an experienced Real Estate Advisor can help you save money on unnecessary repairs/costs and also provide helpful tips based on your specific situation.

If you are ready to pull the plug, give me a call @ (561) 410 6018 for guidance/advice on what you may want to do to get your house ready to sell this Winter..........have an awesome day!

Winter Home Selling Checklist [INFOGRAPHIC] Some Highlights As you get ready to sell your house, focus on tasks that make it inviting, show it’s cared for, and boost your curb appeal. This list will help you get started, but don’t forget, a real estate professional will provide other helpful tips based on your specific situation. Connect ...

Hello FB friends/family, I hope you'll are doing fine.

Based on a recent survey by the NAR, two (2) key obstacles for most homebuyers are 1) The Mortgage process/getting pre-approval and 2) The required down payment.

While I am not a Mortgage Broker, based on my extensive Banking/Finance background, I can quarterback the entire Mortgage application process at NO extra cost to you. Furthermore, I can negotiate on your behalf with the Lenders so that you get the most favorable terms and conditions (especially the interest rate).

With regards to the down payment, there are many down payment assistance programs out there which require very little down payment and in some case $0. For example, with a FHA loan, you only require 3.5% down payment and with a VA loan, you need $0.

With my knowledge and guidance/advice, I can help you overcome both of the abovementioned hurdles. Give me a call @ (561) 410 6018 so that we can start the process for your dream of homeownership ...........have an awesome day!

What You Want To Know If You’re Pursuing Your Dream of Homeownership If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead.

Hello FB friends/family, I trust that you'll are doing fine and getting ready for the Holidays.

The attached article is self-explanatory and provides five (5) reasons why you should sell your home during the holidays instead of waiting for 2023. From a Buyer's perspective however, here are seven (7) financial reasons why you should consider buying your dream home now instead of renting:
1) Rent increases year on year which doesn't work in your favor; it helps the landlord repay his/her mortgage.
2) Your monthly mortgage payment (which is your largest housing costs) helps mitigate the increase in inflation since your monthly mortgage payment is usually fixed for the duration of the
term of the mortgage (15 - 30 years).
3) The interest portion of your mortgage payment is tax deductible.
4) By paying down on your mortgage you will be building equity in the property.
5) The increase in your equity will in turn help you grow your Net Worth.
6) If you purchase a multifamily unit (e.g. triplex/fourplex) you can live in one of the units rent free by letting the other tenants service the entire mortgage payment. Furthermore, you will be
building equity in the property as your tenants pay you rent. This is one of the fastest ways of generating wealth (not by working for a pay check).
7) According to the IRS, if you have a capital gain from the sale of your main home, you can EXCLUDE "up to $250,000 of that gain from your income or up to $500,000 of that gain if you file
a joint tax return with your spouse".

If you are ready to pull the trigger (buy/sell) give me a call @ (561) 410 6018 and we can discuss your goals..........have an awesome day!

Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait.

Hello FB friends/family, I hope you'll are doing fine.

The attached article is for the attention of folks who are considering selling their home this year. Based on the statistics provided by the NAR, I would recommend you sell your home now (if that's your intention) for the following reasons:
1) While inventory is low and demand has softened due to higher interest rates, it is still a Seller's market (currently < 6 months of inventory) and therefore you should be able to get a fair
price for your home if it is priced 'right'.
2) Assuming that you have owned your home for many years, you would have built a significant amount of equity in your property which you can use with your next purchase. It would make
sense to down size to a smaller property (e.g. a condo/townhouse) which you can purchase outright in cash and thus reducing your housing costs - insurance, property taxes etc.

If you want assistance in calculating your equity in your existing home and search for a new home, give me call and we can run the numbers.............have an awesome day!

3 Questions You May Be Asking About Selling Your House Today [INFOGRAPHIC] Some Highlights If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale. You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home? Connect with a trusted re...

Hello FB friends/family, I hope you'll are doing fine.

If you are in the market for a home, one of your main concerns would be the issue of inflation which is still high despite the efforts of the Feds to bring it under control. My advice is if you are ready and able to afford the mortgage payment go for it for the following reasons:
1) A mortgage is the best hedge against rising inflation because your monthly payment is fixed for the duration of the term (30 or 15 years) of the mortgage. Furthermore, your mortgage is
the largest portion of your housing costs.
2) To off set rising inflation, landlords usually increase rent which does not work in your favor. Moreover, there is NO financial benefit gained by paying rent.
3) The interest on your mortgage is tax deductible.
4) By paying down on your mortgage, you acquire equity in the property over time.
5) An increase in your equity, results in a higher Net Worth.
6) You can use your equity to finance various projects e.g. fund your children's education; open a small business; buy an investment property to generate passive income.

Like I said earlier, the best hedge against rising inflation is a fixed housing cost i.e. your mortgage. If you are ready and able to become a homeowner, give me a call and I will be happy to assist and guide you with your goals.........have an awesome day!

Should You Still Buy a Home with the Latest News About Inflation? While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%.