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.

 

 

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.

reverse mortgage

reverse mortgage

Who Qualifies for a Reverse Mortgage?

A  reverse mortgage is a unique financial instrument designed to benefit property owners age 62 and older. Though we help individuals with all types of loans, Miami-based Strock & Tanner Mortgage specializes in a reverse mortgages.  Clients for a reverse mortgage are seniors searching for a way to tap their home’s equity without having to repay the loan while they still live in their home.

How does a Reverse Mortgage work?

A reverse mortgage pays you by returning you the equity in your home. You do not have to repay the proceeds until death. So, you may live in the home comfortably without making mortgage payments. You are still responsible for insurance and taxes. Many Florida seniors are you using a Florida reverse mortgage today in order to offset their retirement. This tool allows for the optimum quantity of flexibility to resolve your specific financial requirements and needs.

Say, for instance, you need to pay healthcare expenses or any other regular payments to help subsidize your monthly income and earnings. Unlike standard and traditional home equity loans, you do not have to repay a reverse mortgage until you die.  You must continue living in this house, however.

Why Work with Mario Quintero

Is a reverse mortgage right for you?  Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

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 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.

 

 

 

 

benefits of a reverse mortgage

benefits of a reverse mortgage

 

Benefits of a Reverse Mortgage

There’s a certain misconception about reverse mortgages. Many believe reverse mortgages are financial tools only those with debt or final distress take. This is untrue.  A reverse mortgage is a financial instrument you may use in addition to other financial instruments when you are about to enter into retirement. The reality is that many Americans are unprepared for retirement.  However, there are many benefits of a reverse mortgage.

A Few Key Benefits of a Reverse Mortgage:

  • BeIt gives you access to cash.
  • It extends the life of other retirement savings by not having to tap into those
  • Financial counseling is required to ascertain they qualify for the product.

According to Bankrate, “The reverse mortgage is probably one of the most misunderstood programs out there.  But, when most people who don’t understand how it works learn about it, the most common thing they say is, ‘Why doesn’t everybody get one?'”

Why Work with Mario Quintero of STC Loans

Would you like to take advantage of the many reverse mortgage loan benefits available? Do you think you qualify for a reverse mortgage? Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

Let me be both your trusted Miami realtor and Miami mortgage broker.  Let me be your realtor for life.

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.

Forgotten Passwords

Forgotten Passwords

Forgotten Passwords

Several years ago, a young man named Maruicio Estrella had one of those inspirational moments that makes so much sense in hindsight.

Due to a recent divorce in his life, he found himself in an angry depression. The final straw seemed to be one day when he walked into his office and was faced with a “Your Password Has Expired” message on his computer.

Remembering that a former boss had combined to-do lists with passwords, he had a sudden insight. He would use a password to change his life.

He came up with the password Forgive@h3r. The constant reminder over the next 30 days as he typed in his password every morning seeped into his subconscious. It had a healing effect on him.

At the end of 30 days, he changed his password to Quit@smoking4ever. According to Estrella, he quit smoking overnight.

Here are some other passwords he has used since, and his results:

  • Save4trip@thailand. I went 3 months later.
  • Sleep@before12. It worked. Got lots of sleep.
  • No@drinking2months. It worked, felt great!
  • Eat2times@day. Never worked, still overweight.
  • Get@c4t! It worked…we have a cat.
  • Facetime2mom@sunday. It worked. I talk with my mom every week.

What kinds of goals can you put into your passwords, and possibly into your life?

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

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.

Keep Calm and Carry On

Keep Calm and Carry On

Keep Calm and Carry On

As we march into spring, it seems that everyone gets busier, more frenetic. Like the birds and the bees, we’re inspired to improve our nests and bring home the nectar to our family hives. As the pace picks up, I’m reminded by this story to keep a calm head:
Once a wise man was walking with a few of his followers. They saw a small lake in the distance, and the wise man said to one of his followers, “I am thirsty. Go get me some water from that lake.”

The follower eagerly ran to the lake. But there were people in it, splashing around, making the water cloudy. The follower shouted that a very important man wanted to drink the water and everyone should get out, but no one listened. Feeling ashamed, he returned to the wise man, complaining “The water is too dirty, and no one will listen to me and get out.” The wise man nodded, but said nothing.

After an hour, the wise man asked the same follower to go back to the lake and get him some water. This time the follower found that everyone had left, and the silt had settled down. The water now looked fit to drink, so he brought some to the wise man.

The wise man looked at the water and said, “See what you did to make the water clean? You let it be. Your life force is like the water. When you are frantic and anxious, your spirit becomes cloudy and distasteful. Just let it be. Things will become clearer. It is effortless.”

Why Work with Mario Quintero

Whether you want to buy for the first time, refinance your existing loan or even 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 reverse mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

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 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.

Reverse Mortgage for New Home Purchase

Reverse Mortgage for New Home Purchase

 

Reprinted from Reverse Mortgage Daily

Reverse Mortgage for New Home Purchase…

 

Reverse mortgages have many different uses which can accommodate a variety of your personal needs.  However, one particular usage is often overlooked.  This is for you to be able to use a reverse mortgage for a new home purchase.

At the most basic level, the major benefit of this tool is that it allows homeowners age 62 and older the ability to obtain a reverse mortgage.  And, then buy a new home all within a single transaction. But there are also other benefits to this unique product which may not seem so obvious.

“In terms of coordinating the use of debt for housing, the ability to not make a monthly mortgage payment reduces your fixed costs. It also provides you potential relief for the need to spend down investments,” according to the experts.

The HECM for Purchase could also allow you the opportunity to downsize, or even upsize, into a new home during retirement.

If you downsize, experts note this tool could also free up more assets from the sale of the previous home, which could then be invested for future use.

If you’re upsizing, and you have the financial resources to manage this, experts advise this could allow for a more expensive home.  This is key particularly when you consider the potential difficulty of obtaining a traditional mortgage after retirement.

 

Why Work with Mario Quintero

Is a reverse mortgage right for you?  Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

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 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.

 

Reverse Mortgage Florida

Reverse Mortgage Florida

Reverse Mortgage Florida as a Retirement Tool

 

Will you have enough funds available when you retire?  Are you in your early 60’s and still carrying a mortgage on your home?  How will you meet your financial obligations when you earn less?  A reverse mortgage Florida may be your answer.

According to a recent study by Harvard, “One in five Americans will be older than age 65 within the next 20 years.” Wouldn’t you want to continue living in your home as long as possible?   Furthermore, “Homeowners comprise the majority of cost-burdened older households. The number of owners carrying mortgage debt into retirement has increased over the past 20 years.”

As a result,  “Since you own a home, your high housing costs might be met with prudent and early financial planning.”  This may include planning for a reverse mortgage Florida.

Get educated about your financial challenges. If you to choose to remain in your home, you must address your options.

 

Why Work with Mario Quintero

Would you like to take advantage of the many reverse mortgage loan benefits available? Do you think you qualify for a reverse mortgage? Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

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 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.

Miami Reverse Mortgage

Miami Reverse Mortgage

 

Benefits of a Miami Reverse Mortgage

We closed our last reverse mortgage of the year last week, helping Marcelino and Josefina supplement their daily living.  This is one of the many benefits of a Miami reverse mortgage.  Whether it’s for yourself, your elderly parents or anyone else you know who’s retired, a Miami reverse mortgage is an excellent way to supplement life at retirement.

The above picture shows our closing celebration with Marcelino & Josefina.  We had just completed a reverse mortgage closing at their home with caretaker family members, Daisy & Maggie.

A Miami reverse mortgage is just one of the vehicles Mario Quintero and the team at STC Loans help you reach your goals and dreams.  Life is expensive at retirement.  Fortunately, the Miami reverse mortgage option is available to individuals who’ve worked hard their entire life.   Because they’ve paid off their homes, and reach retirement age, their investment can work for them.

Your home is your biggest investment.  Inasmuch, as you age, and you pay this off, it allows you to benefit when you retire.  Upon retirement, you may use all or a portion of the proceeds to subsidize life.   Moreover, you live debt-free, as you never have to make another mortgage payment again.  You are still responsible for taxes and insurance, however.  But, all the payments you’ve made prior to retirement now help you.

Why not take advantage of this?

 

Why Work with Mario Quintero

Would you like to take advantage of the many reverse mortgage loan benefits available? Think you qualify for a reverse mortgage? Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. Because of this, his experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

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 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.

 

FHA Loan

FHA Loan

 

What is an FHA Loan?

 

An FHA loan is a mortgage insured by the Federal Housing Administration.  Consequently, as a borrower with an FHA loan, you are required to pay for mortgage insurance.  Because of this, the lender is protected from a loss if you default on the loan.

 

Why You Would Get an FHA Loan

There are many reasons why you would be interested in an FHA Loan.  We’ll discuss the top reasons why people choose FHA loans in the next post covering FHA loans.  However, rest assured, because less rigorous lending standards and lower down-payment requirements are among these reasons, FHA loans are popular among mortgage borrowers.   Furthermore, FHA loans are offered at attractive interest rates and with less stringent and more flexible qualification requirements. The FHA is an agency within the U.S. Department of Housing and Urban Development.

Why Work with Mario Quintero

Would you like to take advantage and believe you qualify for an FHA loan? Take a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the home mortgage loan business since 2002. Because of this, his experience is tested and true. Mario has helped thousands of clients like you with their conventional home loan needs.

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 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.