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Just some New Construction available in Naples, FL

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06/19/2024

Offer Accepted!!!!!!

Thank you Joshua and Chelsea for choosing Marty G Ringham and Matthew Rotz to represent you as buyer's agents on the purchase of your new home at 724 E Centre St!!!!!!

The process has taken over 6 months, and you both have been great to work with...always timely on completing paperwork, showing up for previews on time, negotiating offers and counters, and working with our schedules and yours.

The home inspection is done, now we wait for the appraisal - and the closing!!!

06/19/2024

What Amenities Do Luxury Homebuyers Want?
More than half of luxury homebuyers would be unlikely to make an offer on a home with an outdated kitchen. They want kitchen islands and upgraded appliances.

SEATTLE— More than four in five (86%) luxury homebuyers rank double vanities as must-haves when searching for a home, making them the most asked-for kitchen and bathroom features among high-end buyers this year. Next come kitchen islands and granite or quartz countertops, with 85% of luxury buyers asking their agents for each of them, followed closely by walk-in pantries (83%).

This is according to a survey commissioned by the real estate brokerage Redfid. Roughly 300 Redfin Premier agents responded to the survey, which Qualtrics conducted in April-May 2024.

“Luxury buyers are looking to fall in love with their future home, and they often make emotional decisions because they have the financial means to do so,” said Andrew Rottner, a Redfin Premier Agent in Denver. “What luxury buyers want are all the features of a custom built home in an established and enviable neighborhood. A home where, before even touring, the buyer can envision the cooking they’d do in the kitchen or the entertaining they’d do in the indoor/outdoor living space.”

Open floor plans are the most desirable overall home trend
Zooming out to the entire house, 83% of agents said open-concept floor plans are desirable to luxury buyers, making it the most desirable home trend among this spring’s buyers.

Granite countertops were the only other trend the majority of agents ranked as “very desirable.” Several trends that used to be popular, such as sliding barn doors and shiplap, seem to have gone by the wayside; just 8% of agents ranked each of those features as “very desirable” for buyers.

Outdated kitchens are the biggest turnoff for luxury buyers
More than half (54%) of homebuyers would be unlikely to make an offer on a luxury home if it had an outdated kitchen. That makes an outdated kitchen the biggest turnoff for buyers, followed by lack of curb appeal (48%), outdated bathrooms (44%), and popcorn ceilings (40%).

This comes at a time when monthly housing payments are near their highest level on record, making it tough for some buyers to come up with cash for renovations.

In the survey, agents were asked how common it is that a buyer would ultimately decide to not make an offer on a home after encountering specific home features on a home they tour, helping home sellers understand the most important updates to make before selling.

Landscaping is the most sought-after outdoor feature
Nearly seven in 10 (69%) luxury homebuyers say landscaping is a must-have feature, followed by indoor/outdoor living space (58%). Still, buyers are less likely to rank outdoor features as must-haves than kitchen or bathroom amenities.

Over half of homebuyers say that climate friendly and energy efficient features, such as solar powered lights, solar panels, and drought-resistant landscaping, are not on the priority list when it comes to their backyard.

© 2024 Florida Realtors®

06/19/2024

What’s Keeping Rates High?
The delay in lowering interest rates is having a significant implication on the economy and housing. Mortgage rates are tied to interest rates.

NEW YORK – The Federal Reserve had hoped that 2024 would be a year for cutting interest rates. However, with inflation proving more persistent than almost anyone had anticipated, these expectations are quickly fading. Fed Chairman Jerome Powell confirmed this on June 12, when he and his fellow policymakers indicated there would be only one rate cut in 2024 and expected more in 2025, reinforcing the notion of keeping borrowing costs higher for longer to suppress inflation.

Traders now foresee only one or two rate cuts this year, a significant disappointment compared to the six expected at the beginning of the year and the three forecasted by Fed officials in March. Some investors and economists even see the possibility of no rate cuts at all this year.

The delay in easing monetary policy—and keeping interest rates "higher for longer"—has significant implications for the U.S. economy which also resonates around the world.

1. What is keeping inflation high?
When inflation peaked above 7% in 2022, it reflected a broad-based increase in the prices of goods and services. But now, with the core inflation measure dropping below 3%, price increases are primarily driven by the persistent housing shortage. Prices for essential goods and auto insurance premiums also contribute to the inflation remaining above the Fed’s 2% target.

Some also point to Powell himself for prematurely announcing rate cuts, which sparked optimism in financial markets and fueled economic activity. Here’s a closer look at each of these factors:

Shelter prices, which account for about a third of the Consumer Price Index, have proven the most stable category. Despite some measures from the Bureau of Labor Statistics, Zillow Group Inc., and Apartment List showing slower rent growth for new leases, the corresponding components in the CPI have not yet reflected this.
Energy prices — particularly oil — rose in the first quarter after falling for most of last year. Any escalation in the Middle East conflict threatens to push them higher. This rise translated into more expensive gasoline and increased electricity prices. Although central bankers prefer to look at so-called core inflation measures that exclude energy prices due to their volatility, the rise in oil and other raw material prices has been hard to ignore, as it can manifest in higher shipping and goods costs.
Insurance costs are another driver of inflation. Renters’ and homeowners’ insurance costs are rising at the fastest rate in nearly nine years, while auto insurance increased by 20.3% over the year to May. The main reason is that cars are now more technologically complex, making repairs more expensive.
Powell spurred large market bets on rate cuts by saying in December that cuts were a topic of discussion at the Fed. The impact of these comments was equivalent to a 0.14 percentage point rate cut and could add about half a percentage point to the CPI this year, according to Anna Wong, chief US economist at Bloomberg Economics.

2. What are the domestic consequences of "higher for longer" interest rates?
Powell’s signal that the Fed may keep the interest rate at the current level of 5.25% to 5.5% for longer means that loans for homes and cars will remain much more expensive than before the Fed began raising rates in 2022.

The fact is that the average mortgage interest rate in the US has stayed above 7% for the past two months. The cost of financing has stymied recent momentum in the housing market, with potential buyers waiting for financing costs to drop. Supply remains low as many homeowners are reluctant to give up the cheap mortgages they secured when rates were near zero.

3. How does the Fed's policy affect the rest of the world?
Despite the Fed's stance on maintaining interest rates, some of its global counterparts are moving ahead with rate cuts. Last week, the Bank of Canada led the G7 in cutting borrowing costs, followed by the European Central Bank. If these institutions, along with the Bank of England and the Reserve Bank of Australia, continue their easing cycles, their currencies risk depreciating—leading to higher import prices and undermining progress in reducing inflation. But not easing could risk losing economic growth.

The ECB, however, ruled out a second rate cut in July, and some are questioning the wisdom of such a move in the September meeting. The Bank of England is likely to take longer to shift to rate cuts, with traders pricing the first cut in the fall. Bank of Canada Governor Tiff Macklem made it clear that Canada's rate policy does not need to move in sync with its southern neighbor, despite potential downward pressure on the Canadian dollar.

A "higher for longer" interest rate scenario would strengthen the dollar against other currencies, as the high US interest rates make investment in US securities more attractive, boosting the dollar’s value. With each increase in the dollar, it becomes harder for developing economies—especially those with dollar-denominated debt, which becomes more expensive to service as their local currency weakens.

© 2024 Fusion Media Limited. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

06/19/2024

Impact of Fed's Rate Pause on Buyers and Sellers
By Jeff Ostrowski
The Fed's rate hikes have slowed the housing market, but home prices remain near record levels because home values are not driven just by interest rates.

NEW YORK – Inflation is still running well above plan, and that means the Federal Reserve is keeping its finger firmly on the pause button. The central bank raised rates 11 times in 2022 and 2023, with the expectation that it would reverse course this year. But as inflation has stayed above 3%, it is standing pat. Following the Fed's June 12 meeting, its fourth gathering of the year, Chairman Jerome Powell held steady again, announcing no change in interest rates. The Fed also signaled that it's likely to cut rates only once this year, down from its previous estimate of three cuts.

"Mortgage rates, which have remained higher for longer, will likely remain in the high 6s until later this year," says Lisa Sturtevant, chief economist at Bright MLS, a large listing service in the mid-Atlantic region. "Some homebuyers who have been sidelined by affordability challenges are going to wait until rates come down to buy. Increasingly, home sellers may have to do more negotiating to attract offers."

The Fed and housing
Earlier in the inflationary cycle, the Fed had enacted increases of as much as three-quarters of a point. Now that inflation is down to 3.3% – still higher than its official target of 2%, but not terribly far off – that round of tightening appears to be over. However, until inflation drops down closer to that target, housing economists wonder when the anticipated rate cuts will begin.

"We still look for mortgage rates to drop to about 6.5% by the end of 2024," says Mike Fratantoni, chief economist at the Mortgage Bankers Association.

In an effort to rein in inflation, the Fed boosted interest rates aggressively in 2022 and 2023, including a single jump of three-quarters of a percentage point. The hikes aimed to cool an economy that was on fire after rebounding from the coronavirus recession of 2020. That dramatic recovery has included a red-hot housing market characterized by record-high home prices and microscopic levels of inventory.

The Fed's rate hikes have slowed the housing market. Home sales have dropped sharply. But home prices remain near record levels. Because home values are not driven solely by interest rates but by a complicated mix of factors, it's hard to predict exactly how the Fed's efforts will affect the housing market.

Higher rates are challenging for both homebuyers, who have to cope with steeper monthly payments, and sellers, who experience less demand and lower offers for their homes. After hitting 8% last fall, mortgage rates have dipped back down a bit. As of June 12, the average 30-year rate stood at 7.10%, according to Bankrate's national survey of lenders.

Impacting mortgage rates
The Federal Reserve does not set mortgage rates, and the central bank's decisions don't move mortgages as directly as they do other products, such as savings accounts and CD rates. Instead, mortgage rates tend to move in lockstep with 10-year Treasury yields.

Still, the Fed's policies do set the overall tone for mortgage rates. Lenders and investors closely watch the central bank, and the mortgage market's attempts to interpret the Fed's actions affect how much you pay for your home loan. The Fed bumped rates seven times in 2022, a year that saw mortgage rates jump from 3.4% in January all the way to 7.12% in October. In 2023, mortgage rates went higher still, briefly touching 8%.

If mortgage rates pull back, affordability will become less of a factor. A continued decline in mortgage rates could create a new challenge, though: It will likely draw new buyers into the market, a surge that could further intensify the ongoing shortage of homes for sale.

Steps for borrowers
Here are some pro tips for dealing with elevated mortgage rates:

Shop around for a mortgage: Savvy shopping can help you find a better-than-average rate. With the refinance boom considerably slowed, lenders are eager for your business. "Conducting an online search can save thousands of dollars by finding lenders offering a lower rate and more competitive fees," says Greg McBride, Bankrate's chief financial analyst.
Be cautious about ARMs: Adjustable-rate mortgages may look tempting, but McBride says borrowers should steer clear. "Don't fall into the trap of using an adjustable-rate mortgage as a crutch of affordability," he says. "There is little in the way of upfront savings, an average of just one-half percentage point for the first five years, but the risk of higher rates in future years looms large. New adjustable mortgage products are structured to change every six months rather than every 12 months, which had previously been the norm."
Consider a home equity loan or HELOC: While mortgage refinancing is on the wane, many homeowners are turning to home equity lines of credit (HELOCs) to tap into their home equity. The rationale is simple: If you need $50,000 for a kitchen renovation and you have a mortgage for $300,000 at 3%, you probably don't want to take out a new loan at 7%. Better to keep the 3% rate on the mortgage and take a HELOC - even if it costs 10%.
© Copyright 2024, The Free Lance-Star, Fredericksburg, VA

06/19/2024

More Homeowners Required to Buy Flood Insurance
By Ron Hurtibise
Borrowers with federally backed mortgages in parts of South Florida, and soon all Citizens customers, must buy flood insurance.

MIAMI – Tens of thousands of homeowners in Florida will soon be required to buy flood insurance, and the flooding that inundated large areas of Broward and Miami-Dade counties this week shows why insurance experts say it’s necessary.

In Broward County, 88,913 parcels that were previously in low-risk flood zones on flood hazard maps updated by the Federal Emergency Management Agency’s National Flood Insurance Program will be moved into special flood hazard zones, according to a new flood map revision that takes effect July 31.

Home loan borrowers with federally backed mortgages who live in those parcels will now be required, under terms of their loans, to purchase flood insurance.

Clara Inchastegui, who lives in Miramar’s Sunset Lakes community, said she was notified that she will be required to buy flood insurance once the new map takes effect.

“I’m not happy about it,” Inchastegui said. “Now we’re going to have to pay for flood insurance and before we didn’t.”

A majority of parcels newly designated as high-risk are in low-lying areas of eastern and southern Broward that were swamped by the heavy rainstorms of the past week.

And if you get your homeowner insurance from state-owned Citizens Property Insurance Corp., you are being required to purchase flood insurance if you want to keep your Citizens policy. That law, enacted in 2022 just months after Hurricane Ian swept the state with a deadly mix of high winds, rain and storm surge, is being phased in through 2027.

While it will ultimately require that nearly all Citizens customers buy flood insurance whether or not they live in flood-hazard zones, the new law took effect on July 1, 2023, for all Citizens properties with wind coverage in special flood hazard zones.

After every flood disaster, policymakers say they are surprised by the number of victims who said they thought their damage was covered by their homeowner insurance policies.

It’s not. Homeowner insurance typically only covers water damage if it is driven by wind or results from a breach of the roof or walls, a pipe break or failure of an indoor appliance such as a dishwasher or hot water heater.

Flooding that results from intense rain, as South Florida homeowners experienced this past week, rising lakes or canals, or storm surge during a hurricane is only covered by flood insurance.

“What we experienced this week is a stark reminder that flooding can occur any time in South Florida, not just during hurricanes,” said Mark Friedlander, director of corporate communications for the industry-funded Insurance Information Institute.

“And flooding is not restricted to FEMA flood zones. It can occur in any community. Homeowners need to own their risk and assess how vulnerable they are to hazards like flooding. You are not fully protected from storm hazards without flood insurance.”

Florida already has the highest number of properties with flood insurance from the National Flood Insurance Program of any state — 1.7 million of 3.4 million nationwide. Of the 1.7 million, 666,513 policies were taken out in South Florida’s tricounty region, FEMA figures show.

In addition, the statewide number of flood insurance policies from private-market insurers was 76,348 as of Dec. 31, according to the Florida Office of Insurance Regulation.

But the combined total still means that only about 19% of more than 10 million Florida households have flood insurance.

The shortfall exposed thousands of Hurricane Ian victims to flood damage not covered by insurance. Data analytics company CoreLogic found that Hurricane Ian caused $18 billion in uninsured flood damage in Florida and other impacted states like North and South Carolina.

In Florida, more than 70,000 Hurricane Ian victims received FEMA disaster assistance grants that averaged $9,242 and could be used for rent for temporary shelters or basic home repairs. They could also apply for low-interest Small Business Administration loans that are required to be repaid.

Ian victims with flood insurance, by contrast, received an average of $66,000 when they filed claims, FEMA figures show.

How are properties rated for flood risk?
FEMA periodically revises its flood insurance risk maps on a county-by-county basis after conducting risk studies that consider changes, such as updated hurricane modeling, updated elevation data, development that’s taken place since the last study, and recent storm patterns.

It assigns risk zone ratings that correspond to the likelihood that a structure will be flooded. Zones that begin with the letter A, such as AE or AH are at high risk of flooding. Homes and businesses with federally backed mortgages and Zone A designations are required to purchase flood insurance.

The same is true for properties in zones that begin with V, like V or VE. These denote high-risk coastal areas with additional hazards from storm waves.

Parcels in X zones are determined to be of low and moderate-low risk of flooding and therefore carry no flooding insurance requirement.

But experts caution homeowners in X zones against foregoing flood insurance, particularly in Florida, where the entire state is under a perpetual flood risk.

Nationwide, about a third of all flood insurance claims are filed by owners of properties in moderate-low risk zones, according to FEMA’s website.

Map revisions will prove expensive for some
Broward County’s upcoming flood risk map revision is the first in South Florida slated to be finalized.

Palm Beach County is expecting a letter from FEMA before the end of June that would finalize a revised flood risk map that followed FEMA’s study of new coastal engineering in the county.

The revision would add 5,804 structures to special flood hazard zones, a FEMA spokesman said.

Miami-Dade County is awaiting a letter in August resolving appeals by several cities to a pending map revision that proposes to add 45,420 structures to special flood hazard zones.

Of the 88,913 Broward County parcels that will be added on July 31 to special hazard flood zones where flood insurance will be required for borrowers of federally backed mortgages, 79,689 were in such zones prior to being removed during the last map revision in 2014.

A total of 266,000 — or 60% of all Broward parcels — were moved into low or moderate risk zones in 2014. The map taking effect on July 31 moves only 2,559 parcels from zones requiring flood insurance.

Flood insurance will remain mandatory for 149,795 parcels and optional for 242,654 parcels.

Newly placed into flood zones on July 31 will be:

— 25,878 parcels in Miramar.

— 22,079 in Pembroke Pines.

— 9,455 in Fort Lauderdale.

— 7,392 in Hollywood.

— 5,910 in Oakland Park.

— 3,557 in Pompano Beach.

— 3,082 in Cooper City.

— 3,055 in Dania Beach.

— 1,934 in Davie.

— The rest are split among 11 other cities and unincorporated areas of the county.

Lending guidelines for homeowners with federally backed mortgages require purchase of flood insurance by borrowers in special hazard flood zones.

Dulce Suarez-Resnick, vice president at Miami-based insurance agency Acentria, said mortgage lenders will begin sending letters after July 1 to homeowners formerly in the lowest-risk “X” zones who are being transferred to higher-risk zones such as “AH” or “AE.”

Borrowers who receive a letter will have 30 days to provide proof of flood insurance coverage. Borrowers who fail to do so will put themselves at risk that their lender will force-place coverage, Suarez-Resnick said.

A Miramar resident, Suarez-Resnick said she is among homeowners who were transferred out of a high-risk zone into an “X” zone in 2014 and is being returned to a high-risk zone on July 31.

“We will get a nasty gram (from her lender) in July,” she said.

Inchastegui’s agent told her the coverage that she’ll be required to buy will cost between $700 and $900. She acknowledged that’s less than others will have to pay but said it’s yet another new expense to deal with as costs rise for regular property insurance, food and utilities.

“I guess in the event there’s a disaster, of course we would need it,” she said. “But we’ve been here 14 years and never had a flood problem.”

Coverage became more expensive on Oct. 1, 2021, after FEMA introduced a new pricing structure it calls Risk Rating 2.0.

Under the new structure, prices are set based on risk variables such as elevation of the structure, proximity to water sources, flood frequency, types of flooding, and cost to rebuild.

‘A rude awakening’ awaits those whose policies lapsed
While existing policyholders will be grandfathered into new higher prices with increases capped at 18% a year, customers buying flood insurance for the first time — or for the first time after allowing coverage to lapse — will be required to pay the current full price before the 18% annual cap takes effect.

“Those folks that let go of their flood policies back then are in for a rude awakening,” Suarez-Resnick said. “They lost the grandfathering, and they lost the protection of the new Risk Rating 2.0 glide path, where the rate increases are capped at 18% until they reach the full risk rate.”

A spreadsheet released by FEMA in 2023 showed that coverage in Broward County’s 33305 ZIP code that includes Wilton Manors and Fort Lauderdale neighborhoods near the Middle River increased by 209% — from an average of $1,099 to $3,400.

In the 33315 ZIP code that includes Fort Lauderdale’s Edgewood neighborhood, average rates increased by 64% — from $863 to $1,420.

Cost burdens will also be increased by the new mandate that Citizens Insurance customers with wind coverage must buy flood insurance. Currently, the requirement would affect about 1.1 million Citizens customers relying on the company to provide personal residential coverage. About 100,000 households with renter or condo unit coverage will be excluded.

The requirement took effect on July 1, 2023, for Citizens customers in flood hazard zones seeking to renew their policies.

On Jan. 1, it took effect for all policies with wind coverage of $600,000 or more.

Next Jan. 1, it will take effect for all policies with wind coverage of $500,000 or more, and on Jan. 1, 2026, for policies with $400,000 or more in coverage.

By Jan. 1, 2027, all Citizens customers with wind coverage, except renters and condo unit owners, will be required to buy flood insurance.

However, customers targeted by “takeout” companies as part of Citizens’ controversial depopulation strategy will be exempt if they had not yet purchased flood insurance prior to accepting the takeout, Citizens spokesman Michael Peltier said.

Since Citizens began enforcing the flood insurance requirement, 23,402 policies have been terminated or non-renewed for failing to purchase flood coverage, Peltier said.

© 2024 South Florida Sun-Sentinel. Distributed by Tribune Content Agency, LLC.

06/18/2024

North Metro/MPS Daily MLS Activity...

06/18/2024

Punta Gorda/Port Charlette Daily MLS Activity...

06/17/2024

06/17/2024

Turning Renters Into Homeowners
By Kat Alvarez

Both renting and homeownership have advantages. However, renters never see a return on their monthly payments, but homeowners build equity over time.

NEW YORK – In today's evolving housing market, the dream of homeownership may seem distant for many first-time homebuyers or renters. Rising interest rates, high home prices and committing to purchasing a home can be daunting. However, as a mortgage professional, I've guided numerous clients through the process, helping them realize that homeownership is not only attainable but also a long-term investment.

What Do Buyers Want in Today's Market
Embrace the changing dynamics of buyer commission negotiations with confidence, and learn how to develop loyalty when working with client transactions. Attend the Negotiating Compensation — What Buyers Want in Today's Modern Market education session featuring Michael Walker on Thursday, Aug. 22. This session covers various negotiation strategies and philosophies designed to ensure you're well-prepared to navigate a multitude of scenarios. It's a perfect fit for both buyer and seller agents. To register for the convention and trade expo, click here.

Understanding the mindset of renters
Many renters see homeownership as unattainable due to financial constraints and a lack of understanding of the long-term benefits. They often focus on the immediate costs rather than the potential gains. The key to changing this mindset lies in education and strategic planning.

Addressing common concerns
Down payment costs
One of the primary barriers to homeownership is the initial financial commitment. Many renters believe they don't have enough money saved for a down payment, which can deter them from even considering buying a home. However, there are several ways to make the financial leap into homeownership more manageable:

Down payment assistance programs
Many downpayment assistance programs are available to first-time homebuyers. These programs, often state-sponsored or offered by local housing authorities, provide grants or low-interest loans to cover a significant portion of the down payment and closing costs.

401(k) Withdrawals
Many potential homebuyers are unaware they can withdraw funds from their 401(k) retirement accounts without incurring penalties when purchasing their first home. This option can be useful for those with a large amount saved in their retirement accounts. By leveraging these funds, buyers can cover down payment and closing costs, bridging the gap between their savings and the necessary upfront expenses.

Federal Housing Administration (FHA) loans
FHA loans are government-backed mortgages that require lower down payments and have more lenient credit requirements compared to conventional loans. With an FHA loan, the down payment can be as low as 3.5% of the purchase price, making it an attractive option for first-time buyers with limited savings.

Understanding closing costs
In addition to the down payment, buyers must also consider closing costs, which can range from 2 % to 3% of the home's purchase price. Closing costs include fees for loan origination, appraisal, title insurance, home inspection and other administrative expenses.

Seller concessions
In some cases, sellers may be willing to pay a portion of the closing costs to facilitate the sale. Negotiating seller concessions can significantly reduce the amount of cash buyers need to bring to the closing table.

Interest rates
With the median mortgage rate hovering around 7.75% over the past 50 years, it's important to remember that rent is essentially 100% interest. Renters never see a return on their monthly payments, whereas homeowners build equity over time. Even though interest rates have been higher in recent years compared to the past decade, they are still below the 50-year average, making homeownership a wise investment for long-term benefits and financial returns.

Credit and income requirements
Good credit and stable income are crucial for qualifying for a mortgage. If a renter's credit score is not where it needs to be, starting to improve it early is vital. Mortgage lenders can guide people on how to boost credit scores, whether it's through small corrections or more significant interventions like addressing collections or late payments.

Planning for the future
For young adults planning to buy a home in the next few years, the process starts now. Educating oneself about the homebuying process, understanding credit requirements and saving diligently are critical steps. It's also important to consider creative ways to increase purchase power, such as co-signing with a parent or planning to have roommates contribute to the mortgage.

Current market trends
The housing market continues to see high demand, partly driven by migration from states like California. While interest rates may stabilize or decrease soon, the demand for housing is likely to increase, pushing home prices up. This makes the concept of "buy now, refinance later" particularly compelling. Securing a home at today's prices can be a strategic move, with the potential to refinance at lower rates in the future.

Mindset matters
A significant part of the journey to homeownership is adopting the right mindset. Despite the negativity in the news, it's crucial to stay open to new ideas and solutions. Large companies may push the narrative of renting, but owning a home provides long-term financial benefits that renting cannot match. The opportunity cost of waiting can be substantial, and those who act now are likely to benefit.

For those considering the transition from renting to owning, now is the time to start planning. Educate yourself, seek professional advice and take advantage of the opportunities available. Your future self will thank you.

Copyright © 2024 Las Vegas Business Press. All rights reserved.