When the Champlain South Tower in Surfside Florida condo project collapsed in June of 2021, Fannie Mae and Freddie Mac decided to tighten their belt regarding condominiums and made some significant changes now seeing take effect in our marketplace. The concern is aging infrastructure and significant deferred maintenance across the nation. I know we are […]

The Federal Reserve increased the Federal Funds rate on Wednesday by .750, which pushed the Prime rate to 7.00% and pushed 30-year mortgage rates up slightly. Mortgage rates don’t follow the Federal Funds or the Prime rate, as the bond market and mortgage-backed securities primarily influence mortgage rates! We are finally getting closer to the […]

The Federal Reserve will be increasing rates again tomorrow, and the consensus is that rates will go up by .750%. An increase does NOT mean that mortgage rates will increase by .750%, and then we will get another increase of .50 % to .750 % in December. The Federal Reserve is doing everything possible to […]

We get clients asking all of the time about how to hold title, and we usually refrain, this is important to tell your clients, but make sure you have a disclaimer! I have written about the stepped-up basis in the past, but today I want to talk about the stepped-up basis when one spouse dies. Step-up […]

Real Estate prices have dropped about 10% since the market’s peak early this year, caused mainly by interest rate increases. Most people feel interest rates will eventually fall in the next 6-24 months. So let’s look at what we are paying for now differently. A house selling for $900,000.00 at the market’s peak has likely […]