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Issue # 91     
September 2015  
Dear (Contact First Name),  

Welcome to Optima Properties' monthly newsletter.  We strive to keep you informed of the real estate market and trends that may affect your relocation, investment, or purchase decisions.  

You have expressed an interest in properties or rentals in either South Florida or Western North Carolina in the past and these periodic newsletters will help to keep you current of what is happening in the real estate industry nationwide and locally.   
 
Mortgage applications are continuing to rise as a result of increased home sale and a drop in the interest rates, spurring another round of refinancing.  October 3rd will bring a new set of banking and lending regulations known as TRID (TILA/RESPA Integrated Disclosures).  The new requirements will further extend the time it will take a buyer to secure financing and close on a property.  Next month's newsletter will be devoted to this topic.

Please feel free to call me to discuss any and all matters relating to the real estate market in South Florida or Western North Carolina. 

Happy Labor Day!

Contact Kim N. Bregman, Optima Properties
Labor Day 2


Lic. Real Estate Broker, FL & NC
REALTOR, MBA, ABR, NAEBA, FEBA 
 
In This Issue
Buyer's Guide  
 
Answers to common questions, resources, and tools.
 
 Finance Center

 

Articles, Calculators, Tools, and Advice  






 





Mortgage Rates:

As Of August 28, 2015 

 

Average RateAverage Points
30 year FRM3.84
0.6

15 year FRM		3.06
0.6
5/1 ARM
2.90
0.4
1 year ARM2.620.3
   




Rates dropped again this week

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Social Networking
 

 

 

 

 

 

 

 

 ZWILLOW  

 

 

 

 

 

 

 

 

 

 

 

 

 trulia  

 

 

 

 

  

 

 

 

Pinterest   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012 Head shot 
Kim N. Bregman    

Optima Properties 

 Lic. Real Estate Broker, FL & NC, REALTOR, MBA, ABR 

The greatest compliment that I can receive is a referral from clients, friends and co-workers.  Thank you for your trust.   

 Florida:
17914 Foxborough Lane
Boca Raton, FL 33496
561-251-7170 Cell
561-477-0676 Office
561-892-0937 Fax

North Carolina: 
581 Tsalagi Trail

Maggie Valley, NC 28751 
828-400-7953 Cell
828-400-7953 Office
561-892-0937 Fax

kim@optimaproperties.com
www.OptimaProperties.com

 

 

 

 

 

 

 
In The News!
2015 - The Year of the Boomerang Home Buyer


This year is already shaping up to be the year of the boomerang buyer, or the repeat home buyer. As it is now seven years since the housing crash, there are many buyers who experienced a financial hardship in the recent past who are getting back into the market to purchase a home again in 2015. Many who lost their homes have rebuilt their credit and are back in the market. Experts say these boomerang buyers will be an important segment of the real estate market in the coming years.
 
About 700,000 of the 7.3 million homeowners who went through foreclosure or short sales during the bust have the potential to get a mortgage again this year, said Daren Blomquist, vice president of Realty Trac; that compares to the 3 million people overall who got a mortgage between October 2013 and September 2014. A recent increase in loans from the Federal Housing Authority also shows first time home buyers and boomerang buyers are helping drive the market, Blomquist said.
 
It generally takes seven years for a foreclosure to drop off a credit report. Short sales take less time, generally three or four years. Greg McBride, a chief financial analyst at Bankrate.com, said it's difficult to tell if boomerang buyers are affecting the market - at least this year.
 
"The prices are rising because of the limited inventory," he said. "Boomerang buyers are part of the demand but not a huge component."
 
In the coming years, though, as foreclosures continue to drop off credit reports, more people will get back in the market, analysts said. A Realty Trac report earlier this year predicts Phoenix and Miami will see the most boomerang buyers. The Tampa area is in the top 10 cities. In some markets, such as Las Vegas, as many as quarter of homes could be bought by boomerang buyers, Realty Trac predicts.
 
The housing market is teetering on the edge of becoming a stable market again, according to the latest Multi-Indicator Market Index from Freddie Mac.
 
"Housing markets are the strongest they've been in years with the National MiMi above 80 for the first time since 2008. Nationally, all MiMi indicators are heading in the right direction," said Freddie Mac Deputy Chief Economist Len Kiefer.
 
"Robust home buyer demand has put total home sales on pace for the best year since 2007 and look for that trend to continue as the MiMi purchase applications indicator remains on the upswing.

 

Advice For Buyers!
Why You Should Hire a Real Estate Attorney

For most people, buying a home is the largest and most significant purchase they'll ever make. Hiring a real estate attorney early in the process will protect you against the unexpected, and ensure a smooth and low-stress closing. Every state and sometimes regions within states have differing requirements. Some states leave that as an option open to the buyer and seller while others mandate it as a necessity. Your local real estate agent should be able to advise you what the protocol is in the area in which you are buying. 
 
A real estate lawyer will protect your rights and interests in the transaction...unless you are using an Exclusive Buyer Agent; they are the only party truly "on your side". Hiring a real estate attorney is a smart choice.  A real estate attorney takes over after the selling price contract terms have established and all parties have signed.  They will review the contract itself, negotiate repairs based on the home inspection report, and collaborate with the title company. 
 
A real estate lawyer has the experience and training to handle the unique issues regarding real property, and the problems most people can't anticipate. They see a lot of contracts and know the local customs, and can help cut through roadblocks. In most states a real estate agents cannot draft changes to the contract or give legal advice and very few transactions fit into a "boilerplate" contract. In addition, most Realtor form contracts are drafted to the benefit of the Seller; an attorney will add language to further protect a buyer's interests.
 
Your lawyer will review the purchase agreement during the contract review period and will check the fine print of the Conditions, Covenants and Restrictions (CC&Rs) in common interest developments like condominiums, coops, country club communities, developments, and townhome projects.
 
Your attorney works with your mortgage loan officer, the other party's attorney and agents to make sure that dates are set for attorney approval, home inspection, title search, mortgage commitment and other contingencies are reasonable and achievable.
 
Your attorney will also review important documents, including legal descriptions, mortgage loan documents, the property survey, and the title and title insurance policy, and deed.
The attorney will inspect important documents for common mistakes such as typos and misspelled names, including the legal description of the home. 
 
The bill of sale may be another important part of the transaction that categorizes and inventories any personal property, such as appliances or furnishings, that are to be included as part of the deal.
 
They are also extremely helpful in negotiating for unpaid prorated expenses due to you from the seller, such as: property taxes, condominium assessments, and utilities
 
In most states, attorneys can change legal language in a purchase contract and void a purchase contract under state laws. You might need this in case an inspection comes back with serious red flags such as mold, plumbing, or foundation issues.
 
Your attorney attends the closing, to ensure the process moves along efficiently and effectively. In the case of problems/issues, the attorney will counsel and represent you.
 
Your attorney has no direct emotional involvement in the transaction, and no conflict of interest. You'll appreciate a levelheaded counselor by your side if the situation becomes difficult.
 
You'll receive something of great value: peace of mind!
 

 
 
 
Vacation Rental
Looking for a Luxury Home Vacation Rental in the Western North Carolina Mountains?

Soaring Eagle Retreat 2011
Come to the Mountains this Autumn and enjoy all the mountains have to offer!  

NC Fall View
Horseback riding at Cataloochee Ranch, whitewater rafting at several area locations, visit eclectic Asheville,  hike in Smoky Mountain National Park and Pisgah Forest, see the Cataloochee Elk, gamble at Harrah's Casino, drive on the Blue Ridge Parkway and visit Cherokee.
 
Soaring Eagle Retreat, Luxury Log Home in
Waynesville/Maggie Valley available for rental. Just 15 minutes from the Cataloochee Ski Resort and Ranch 30 minutes from the National Parks and 30 minutes from Asheville and Cherokee.
 
 
Kim's Blog
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Optima Properties has beeen working as Exclusive Buyer Agents for 25 years. 

We service customers specifically looking for properties in South Florida and Western North Carolina. 

We act as consultants, advisors, advocates and negotiators for our clients rather than as a salesperson.

I look forward to speaking with you and representing YOUR INTERESTS in future real estate transactions.

Sincerely,
Kim N. Bregman Lic. Real Estate Broker
FL & NC, REALTOR, MBA, ABR, NAEBA  

 

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