home buying in Miami

home interest rates

What High Interest Rates?

There seems to be a lot of commotion about home interest rates rising in the USA banking environment these days.  So because we’ve gone from 3.75% to 4.75% in the course of two years people think the sky is falling.  Really?  You’ve got to be kidding.

Back when I bought my first house in the 80’s, the interest rate environment was a completely different scenario than the current one. I purchased my home at an 17.5% interest rate.  Now that was a high interest rate.   Even as not too long ago as the early to mid 2000’s interest rates were hovering around 8% reaching to 6% by 2008 just prior to the financial crisis.

Because the nation was faced with an almost depression-like scenario, our leaders acted quickly to stabilize financial markets.  It is because of this reason that interest rates went as low as they did, in order to avoid an entire financial collapse.

What’s the moral of the story?  Higher interest rates mean an improving economy.  This results in an all-around better economic scenario for everyone, not just a few.  Because things are better in the USA economy today, we can feel safe with a few basis points higher in interest rates.

And regardless, historically speaking, interest rates as this level are still low.  It continues to be a perfect environment to both buy and sell and maximize your money.

Why Work with Mario Quintero

I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage..

Call me today at 305-598-1600 or contact me here. Let’s find your dream home!

Home buying in Miami

Home buying in Miami

 

Home buying market so brutal, some home buyers make offer sight unseen

from CNBC

This spring home-buying season should be a coming-out party for Millennials, many of whom are finally ready to make a purchase after hunkering down for years in their parents’ basements or expensive apartments.

The only problem: Much of the food at the party is gone, and what’s left is priced like caviar.

Although solid job and income growth is emboldening many prospective home buyers, record low housing supplies are driving up prices and curbing sales, especially for Millennials looking to buy starter homes.

 “For home buyers, this is shaping up to be one of the most difficult years in recent memory,” says Ralph McLaughlin, chief economist of Veritas Urbis Economics, which studies the housing market.

For sellers, it will be a standout spring that brings big profits, unless those sellers themselves are looking to buy a larger home in the same metro area. “It’s going to have the feel of a hot market,” marked by multiple offers and bidding wars, says Lawrence Yun, chief economist of the National Association of Realtors (NAR).

Why? Too many buyers chasing too few homes. In February, there was a 3.4-month supply of existing homes nationally, the lowest on record for that month and substantially below a balanced six-month inventory.  And,  the number of starter homes is down 14.2% in the first quarter from a year ago, according to real estate research firm Trulia.

 

Why Work with Mario Quintero?

Are you having difficulty finding a property?  Are you in the market to purchase or refinance?  Don’t buy your most valuable asset site unseen. We have helped many repeat clients purchase similar properties and either keep them for themselves or use as an investment. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

 

Home sales increasing

Home sales increasing

courtesy of CNBC

What slow down?

Home sales rebounded more strongly than expected in February, and the National Association of Realtors says they could have been even higher if there were more homes for sale.  It appears that nationwide, home sales are increasing.

A critical shortage of listings is the No. 1 obstacle, especially in higher price ranges — not rising mortgage rates or new tax laws that reduce certain homeowner deductions.  Sales at the lowest end of the market, however, homes priced under $100,000, were down 16.5 percent compared with a year ago.

Realtors polled for the monthly survey said they are hearing very few concerns from buyers about rising mortgage rates or the new tax laws, even fewer concerns than in December, when the tax laws were in final debate. That is not the case for potential sellers.

Mortgage rates are not historically high today, but they are about half a percentage point higher since the start of this year and are clearly on an upward trajectory.

 

The number of homes for sale did increase slightly in February, which always happens as the busy spring market approaches, but supply is still down more than 8 percent from a year ago; supply is up on the high end and far lower on the low end of the market. Homebuilders continue to build higher-end homes as well, because rising costs for land, labor and materials have shrunk their margins for entry-level homes.

Shortage on the lower end is likely why first-time homebuyers pulled back in February. There had been a surge in this cohort last year, but clearly affordability and supply is weighing more heavily on them now.

Why Work with Mario Quintero?

Are you in the market to purchase or refinance?  We have helped many repeat clients purchase similar properties and either keep them for themselves or use as an investment. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

St. Patrick's Day

St. Patrick’s Day

St. Patrick’s Day Safety Precautions

 

Drinking and Driving with a Friend

While St. Patrick’s Day always conjures up images of festive parades along with bar-hopping and beer drinking parties, unfortunately, many forego the safety precautions associated with the same.  It’s great to have holidays and reasons to enjoy the festivities.  But, it’s equally as important to remember to practice caution and take safety measures while enjoying your activities.  Why not be proactive with some St. Patrick’s Day safety precautions?

One alcoholic drink too many could have serious consequences to your life and the life of others. Is it really worth it?  Isn’t it easier to hand the keys off to someone else and have them be your designated driver?

If you’re looking for some good and safe fun events to attend this St. Patrick’s Day, have a look here at the Miami New Times keeping you up to date with South Florida’s best activities.

Why Work with Mario Quintero?

So, definitely enjoy your St. Patrick’s Day weekend, but please, be safe.  Are you in the market to purchase or refinance?  We have helped many repeat clients purchase similar properties and either keep them for themselves or use as an investment. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

Low Down Payment Closings

Low Down Payment Closings

In the last two weeks, STC Loans together with C and C Title Agency have been able to help two new families become first time buyers with low down payment closings.  We couldn’t be more thrilled for them.  Using our 5 % down conventional lender paid PMI, first time buyers Richard, Mickey and Nicole are well underway in early home ownership.  We extend a very special thanks to Laura M. Menendez, our senior loan processor and Carolyn Martinez of C and C Title Agency.

In 2017 conventional mortgage lenders introduced the 5% down loan and the lender pays for the PMI (private mortgage insurance) up front.  What a great program, facilitating the purchase of homes to first-time homebuyers.  In exchange for a slightly higher interest rate, young buyers can begin to experience the privilege of home ownership.

The monthly PMI is approximately half of what FHA loan pays.  The PMI will be reevaluated when the loan reaches 80% loan to value in order to be eliminated.  As opposed to FHA where the PMI is for the life of the loan.  The conventional lender paid PMI loan is for borrowers that have a minimum 640 FICO. The higher the FICO into the 700’s, the better the interest rate becomes.

This product is being used by many first-time home buyers because of the monthly savings on the PMI.  The product can be used up to the new conventional lending loan limits which have recently increased to 455,000.

Why Work with Mario Quintero

Do you know any young people starting out who could benefit from this amazing program?  How many of us would not have liked this opportunity starting out?  Are you in the market looking to buy, sell, rent or lease a property? Mario Quintero has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of families purchase their dream homes and secure competitive financing.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a VA, conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Miami Real Estate

Miami Real Estate

courtesy of World Property Journal

Miami Real Estate Market is 4th Largest in the US

Miami ranks 4th in the nation in total home value. According to Zillow, the total value of all homes in the United States in early January 2018 is now $31.8 trillion after gaining $2 trillion in 2017.  The cumulative value of the U.S. housing market grew at its fastest annual pace – 6.5 percent – in four years. Moreover, the value of all U.S. homes rose 8 percent annually in the early stages of the housing recovery in 2013.

Fast FAQs:

  • Total U.S. housing market gained $2 trillion in value in 2017.
  • The value of all U.S. homes grew 6.5 percent in 2017, the fastest pace in four years.
  • Los Angeles, New York and San Francisco are the most valuable housing markets, each worth more than $1 trillion.

For many households, a home is the single largest source of wealth, but the collapse of the housing market and the ensuing Great Recession demonstrated the importance of housing to the U.S. economy as well. The housing market has gained $9 trillion since the lowest levels of the recession.

 

A Record Year

The value gained in 2017 alone is equivalent to more than the valuation of two companies the size of Apple. Over the past year, the U.S. housing market has gained $1.95 trillion, while Apple recently hit a market value of $900 billion, the first U.S. company to do so.

This was a record year for home values as the national housing stock reached record heights in 2017,” said Zillow® Senior Economist Aaron Terrazas. “Strong demand from buyers and the ongoing inventory shortage keep pushing values higher, especially in some of the nation’s booming coastal markets. Renters spent more than ever on rent this year, but the amount they spent grew at the slowest pace in recent years as more renters transitioned into homeownership and new rental supply slowed rent growth across the country. Despite recent changes to federal tax laws that have historically made homeownership financially attractive, the long-term dynamics pushing up home values and rents are unlikely to change significantly in 2018.”

Combined-Worth-of-All-U.S.-Homes.png

Why Work with Mario Quintero

Do you doubt what our good friends at CNBC are predicting?  Home prices are set to rise in Miami and across the entire USA.  Are you in the market looking to buy, sell, rent or lease a property? Mario Quintero has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of families purchase their dream homes and secure competitive financing.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a VA, conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Art Basel Miami

Art Basel Miami

reprinted from timeout.com

Heading to Miami’s Art Basel this Weekend?

Some 268 of America’s top galleries and art museums will be showing us what they’ve got at annual contemporary art bonanza, Art Basel Miami Beach 2017. Since its launch in 2002, Art Basel has become North America’s premier art fair. Because of this, expect amazing contemporary paintings, films and videos, sculptures, drawings, photography, digital art and installations from more than 4,000 artists. You might even see them if you can tear yourself away from the parties and buzzing rooftop bars. Take a road trip or book your flight and use our guide for all your art, event, party, eating, drinking and hotel needs.

What is Art Basel Miami Beach?

First staged in 2002, Art Basel Miami Beach is an annual art show held at Miami Beach. Art Basel Miami stages three major fairs each year. These are held in Hong Kong, Basel and Miami Beach. Art Basel focuses on modern and contemporary art. It puts more than 250 galleries and 4,000 artists from across the globe in front of the art world’s top curators, museums and collectors. Hence, the weekend of Art Basel has become a major draw for Miami.  as it showcases major events held in conjunction with the show.  As an added bonus, have fun celebrity-spotting.

When is Art Basel Miami?

Art Basel Miami Beach is held December 7, 2017, through December 10, 2017.

Where is Art Basel Miami Beach held?

Art Basel Miami Beach 2017 is at the Miami Beach Convention Center, 1901 Convention Drive.  Check out a floorplan of the Convention Center to see who’s showing and where. Other works, film screenings and performances take place close by at Collins Park and SoundScape Park.

Why Work with Mario Quintero

Art adds great value to your home.  Mario’s wife, Claudia Quintero, has a keen eye for art and home design.  Moreover, Mario has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of families purchase their dream homes and secure competitive financing.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a VA, conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

 

VA Loan

VA Loan

 

Today and Everyday, Thank a United States Veteran

Every day, but especially on this Veteran’s Day, we take the time to thank veterans for their service to the United States.  It is because of their sacrifice that citizens like you and me enjoy the freedoms we experience daily.  Veterans may purchase their dream homes through the help of a VA Loan.

Thank you, United States veterans,  for your service!

How a VA Loan Works

A VA Loan is a mortgage loan issued by approved lenders and guaranteed by the U.S. Department of Veterans Affairs (VA). The program was created in 1944 by the US government in order to help returning service members purchase homes without needing a down payment or excellent credit. The program has guaranteed millions of VA loans to help veterans, active duty military members and their families purchase homes or refinance their mortgages.

Now more than ever,  the VA Home Loan program is important to members of the armed services.  Due to the market housing collapse, in recent years, lenders nationwide have tightened their lending requirements.  Indeed, the VA Loan is a lifeline for military homebuyers.

Why Work with Mario Quintero

Are you a United States veteran?  Have a look at your options for a VA loan with the help of Mario Quintero of STC Loans. Mario has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of veterans purchase their dream homes with government VA loans.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a VA, conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

Halloween safety tips

Halloween safety tips

 

Halloween is this coming Tuesday.  Are you prepared?

Here are some Halloween safety tips to keep in mind as you’re out trick or treating with your kids.  Make sure to follow these to ensure a safe holiday.

reprinted from Improvements.com

10 Trick or Treat Safety Tips:

  1. Go During Safe Trick Or Treat Times
    You don’t have to wait until it is pitch-black outside to go trick-or-treating. A good trick or treat time is right after an early dinner and just before dusk when you can keep better track of your children and you are able to see the others that you encounter on the street. Besides, if you are the first person there, you will have the best selection of candy!
  2. Steer Clear Of Masks
    While masks are a fun part of many costumes, do your best to recreate the mask with face paint. Having a mask on can sometimes impair the vision of the child wearing it.
  3. Be Visible
    If your kids will comply, choose costumes that are brightly colored so that they are easier to see in the dark. If they really want a dark costume, apply some reflective strips to their costume. You could also have them wear glow necklaces or carry glow sticks and flashlights.
  4. Never Go Alone
    It is important that your children have an adult chaperon at all times while trick or treating. You should also discreetly add some emergency identification information such as the child’s name, address & phone number to their costume or on a bracelet in case your child happens to get separated from the group.
  5. Walking Tips
    Be sure that your children understand simple traffic rules, such as stopping and looking both ways before crossing the street, and staying in a crosswalk if one is available. If you have to cross at a light, make sure you have the proper “walk” signal before you proceed. Inform your children that they should never assume that they have the right away when crossing the street, especially at night on Halloween.
  6. Knock On Doors That You Know
    Encourage your children to only trick-or-treat at homes where they know the inhabitants. If they know everyone on the street, except for one house, they could ask the neighbors about that one house. If a home is dark or has no Halloween decorations, that is typically a good sign that they are not up for trick-or-treaters.
  7. Don’t Go Inside
    Trick-or-treaters always seem to run across a house or two where someone invites them to “come in”. Remind your little ones that they should never go inside anybody’s home while trick-or-treating. They can easily get the candy they seek from the porch or if the homeowner is persistent, inform them to simply turn and walk away.
  8. Stay On Track
    It might be tempting to take a short cut through an alley or cut through someone’s yard, but that can sometimes pose a danger. Stay on streets and in neighborhoods that are well lit and where there are plenty of people around.
  9. Say No!
    If you’re children are old enough to trick or treat in a group without you, be sure and designate a time for their return. Teach your children that if a stranger offers to give them a ride or take them to a Halloween Party, they should say “no”.
  10. Taste-Testing Patience   Trick or treating is for gathering candy, not eating it as they receive it. Pack a goody bag with some of your own Halloween candy so your kids have something to snack on if they just can’t wait until they get home.

 

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

 

 

Miami Fall Activities

Miami Fall Activities

Miami Fall Activities

It’s officially the fall season in Miami.  And while it may still be hot, it’s less hot and less humid.  Like many others, you’re probably looking for ideas of things to do during the fall.  Below, we offer a link to Miami fall activities around town.

The fall edition of places to visit across Miami features a few additional outdoor offerings as our stifling summer temperatures begin to dissipate, paving way for the most spectacular “winter” in the country.

The following 26 locations chosen by Curbed editors feature the city’s most iconic buildings, parks, public art, events and more for you to visit. Did we look past your favorite Miami gem?

To access Curbed Miami’s List of the top 26 locations to visit in Miami during the fall months, have a look at this link here.

Additionally, tomorrow is the first Saturday of the month.  If you’re looking for something fun and free to do with your family this weekend, why not visit The Gold Coast Railroad Museum?  It’s is FREE the first Saturday of every month. Why not check it out?

Why Work with Mario Quintero

Interest rates continue to be at historically low levels.  Fall is a great time to buy a house in South Florida.  Are you in the market for a property? Are you having trouble finding an affordable property? I help people reach their goals. Whether you want to sell or buy for the first time, refinance your existing loan, purchase an investment property, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Because of this, let me be both your trusted Miami realtor and your Miami mortgage broker.

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage..

Call me today at 305-598-1600 or contact me here. Let’s find your dream home!