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As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider. Here are a few things you should think about before you settle on renting for another year. 1. Rents Are Rising Quickly Rent increasing each year isn’t new. Looking back at Census data confirms rental prices have gone up consistently for decades (see graph below):If you’re a renter, you’re faced with payments that continue to climb each year. Realtor.com recently shared the September Rental Report, and it shows price increases accelerating from August to September (see graph below):As the graph shows, rents are still on the rise. It’s important to keep this in mind when the time comes for you to sign a new lease, as your monthly rental payment may increase substantially when you do. 2. Renters Miss Out on Equity Gains One of the most significant advantages of buying a home is the wealth you build through equity. This year alone, homeowners gained a substantial amount of equity, which, in turn, grew their net worth. As a renter, you miss out on this wealth-building tool that can be used to fund your retirement, buy a bigger home, downsize, or even achieve personal goals like paying for an education or starting a new business. 3. Homeowners Can Customize to Their Heart’s Content This is a big decision-making point if you want to be able to paint, renovate, and make home upgrades. In many cases, your property owner determines these selections and prefers you don’t alter them as a renter. As a homeowner, you have the freedom to decorate and personalize your home to truly make it your own. 4. Owning a Home May Provide Greater Mobility than You Think You may choose to rent because you feel it provides greater flexibility if you need to move for any reason. While it’s true that selling a home may take more time than finding a new rental, it’s important to note how quickly houses are selling in today’s market. According to the National Association of Realtors (NAR), the average home is only on the market for 17 days. That means you may have more flexibility than you think if you need to relocate as a homeowner. Bottom Line Deciding if it’s the right time for you to buy is a personal decision, and the timing is different for everyone. However, if you’d like to learn more about the benefits of homeownership, let’s connect so you can make a confident, informed decision and have a trusted advisor along the way. ✔Contact me for a free buyers or seller consultation! Let me help you buy or sell today! 🏡 Home Selling & Buying Made Simple 📢Receive Your Receive Your Complimentary Sellers & Buyers Guide! Contact Melissa Lampugnano Today! 904-330-4457 www.closing904realestate.com #stjohnsrealtor #stjohnsrealestate #actiontakerteam #realestate #staugustine #jacksonvillerealestate #northfloridarealestate #sellyourhouse #homebuying #homeinventory #realestateagent #stjohnsrealtor #momentumrealty #movingwithmomentum #melissalampugnano

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program: “The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .” For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes. 2020 Data on VA Home Loans 1,246,817 home loans are guaranteed by the Veterans Administration The average VA loan amount totals $301,044 178,171 of those using a VA Loan are first-time homebuyers Top Benefits of the VA Home Loan Program As we reflect on their sacrifice and honor our nation’s veterans, it’s important to ensure all veterans know the full extent of benefits VA home loans offer. As Jeff London, Director of the VA Home Loan Program, says: “VA loans offer an extraordinary opportunity for veterans because of lower interest rates, lower monthly payments, no or low-down payments, and no private mortgage insurance.” Those who qualify for a VA home loan are eligible for the following: Borrowers can often purchase a home with no down payment. In 2020, 350,094 individuals using a VA Loan were able to purchase their homes without putting money down. Many other loans with down payments under 20% require Private Mortgage Insurance (PMI). VA Loans do not require PMI, which means veterans can save on their monthly housing costs. Finally, VA-Backed Loans often offer the most competitive terms and interest rates. Bottom Line One way we can honor and thank our veterans this year is to ensure they have the best information about the benefits of VA home loans. Homeownership is the American Dream. Our veterans sacrifice so much in service to our nation and deserve to achieve their homeownership goals. Thank you for your service. ✔Contact me for a free buyers or seller consultation! Let me help you buy or sell today! 🏡 Home Selling & Buying Made Simple 📢Receive Your Receive Your Complimentary Sellers & Buyers Guide! Contact Melissa Lampugnano Today! 904-330-4457 www.closing904realestate.com #stjohnsrealtor #stjohnsrealestate #actiontakerteam #realestate #staugustine #jacksonvillerealestate #northfloridarealestate #sellyourhouse #homebuying #homeinventory #realestateagent #stjohnsrealtor #momentumrealty #movingwithmomentum #melissalampugnano

Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan. Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process. 1. Don’t Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender. Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. 2. Don’t Make Any Large Purchases Like a New Car or Furniture for Your Home. New debt comes with new monthly obligations. New obligations create new qualifications. People with new debt have higher debt-to-income ratios. Since higher ratios make for riskier loans, qualified borrowers may end up no longer qualifying for their mortgage. 3. Don’t Co-Sign Other Loans for Anyone. When you co-sign, you’re obligated. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count the payments against you. 4. Don’t Change Bank Accounts. Remember, lenders need to source and track your assets. That task is much easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer. 5. Don’t Apply for New Credit. It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO® score will be impacted. Lower credit scores can determine your interest rate and possibly even your eligibility for approval. 6. Don’t Close Any Credit Accounts. Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those determinants of your score. Bottom Line Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. The best plan is to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature. ✔Contact me for a free buyers or seller consultation! Let me help you buy or sell today! 🏡 Home Selling & Buying Made Simple 📢Receive Your Receive Your Complimentary Sellers & Buyers Guide! Contact Melissa Lampugnano Today! 904-330-4457 www.closing904realestate.com #stjohnsrealtor #stjohnsrealestate #actiontakerteam #realestate #staugustine #jacksonvillerealestate #northfloridarealestate #sellyourhouse #homebuying #homeinventory #realestateagent #stjohnsrealtor #momentumrealty #movingwithmomentum #melissalampugnano

Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan. Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process. 1. Don’t Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender. Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. 2. Don’t Make Any Large Purchases Like a New Car or Furniture for Your Home. New debt comes with new monthly obligations. New obligations create new qualifications. People with new debt have higher debt-to-income ratios. Since higher ratios make for riskier loans, qualified borrowers may end up no longer qualifying for their mortgage. 3. Don’t Co-Sign Other Loans for Anyone. When you co-sign, you’re obligated. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count the payments against you. 4. Don’t Change Bank Accounts. Remember, lenders need to source and track your assets. That task is much easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer. 5. Don’t Apply for New Credit. It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO® score will be impacted. Lower credit scores can determine your interest rate and possibly even your eligibility for approval. 6. Don’t Close Any Credit Accounts. Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those determinants of your score. Bottom Line Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. The best plan is to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature. ✔Contact me for a free buyers or seller consultation! Let me help you buy or sell today! 🏡 Home Selling & Buying Made Simple 📢Receive Your Receive Your Complimentary Sellers & Buyers Guide! Contact Melissa Lampugnano Today! 904-330-4457 www.closing904realestate.com #stjohnsrealtor #stjohnsrealestate #actiontakerteam #realestate #staugustine #jacksonvillerealestate #northfloridarealestate #sellyourhouse #homebuying #homeinventory #realestateagent #stjohnsrealtor #momentumrealty #movingwithmomentum #melissalampugnano

5 Tips for Making Your Best Offer on a Home As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it: “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.” Showing sellers you’re serious can give you a competitive edge, and it helps you act quickly when you’ve found your perfect home. 2. Be Ready To Move Fast Homes are selling quickly in today’s competitive housing market. According to the Existing Home Sales Report from the National Association of Realtors (NAR): “Eighty-three percent of homes sold in November 2021 were on the market for less than a month.” When houses are selling this fast, staying on top of the market and moving quickly are key. Your agent can help you put together and submit your best offer as soon as you find the home you want to buy. 3. Lean on a Real Estate Professional No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac also notes: “The success of your homebuying journey largely depends on the company you keep. . . . Be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.” Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out. 4. Make a Strong, but Fair Offer According to the latest Realtors Confidence Index from NAR, 40% of offers today are above the list price. In such a competitive market, emotions and prices can run high. Having an agent to help you submit a strong, yet fair offer is critical in these situations. Your agent can help you understand the market value of the home and recent sales trends in the area. 5. Be a Flexible Negotiator When putting together an offer, your trusted real estate advisor will help you consider which levers you can pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up. Freddie Mac explains: “Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.” Bottom Line Today’s competitive landscape makes it more important than ever to make a strong offer on a home. Let’s connect to make sure you rise to the top along the way. ✔Contact me for a free buyers or seller consultation! Let me help you buy or sell today! 🏡 Home Selling & Buying Made Simple 📢Receive Your Receive Your Complimentary Sellers & Buyers Guide! Contact Melissa Lampugnano Today! 904-330-4457 www.closing904realestate.com #stjohnsrealtor #stjohnsrealestate #actiontakerteam #realestate #staugustine #jacksonvillerealestate #northfloridarealestate #sellyourhouse #homebuying #homeinventory #realestateagent #stjohnsrealtor #momentumrealty #movingwithmomentum #melissalampugnano

Selling your house is no simple task. And when you sell on your own – known as a FSBO (or For Sale by Owner) – you’re responsible for handling some of the more difficult aspects of the process without the expert guidance you need. The 2021 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveys homeowners who recently sold their house on their own and asks what difficulties they faced. Those sellers say some of the biggest headaches are prepping their house for sale, pricing it right, and handling the required paperwork. Working with an agent is the best way to ensure you have an expert on your side to guide you at every turn. Agents have the skills and knowledge that are essential to navigating each step with ease, efficiency, and accuracy. Here are just a few things a real estate agent will do to make sure you get the most out of your sale. 1. Make the Best First Impression Selling your house requires a significant amount of time and effort. Doing it right takes expertise and an understanding of today’s buyers. Your agent knows the answers to common questions, such as: Do I need to take down my personal art? How much landscaping does my house need? What colors should I paint my walls? Your time and money are important, and you don’t want to waste either one focusing on the wrong things. A real estate advisor relies on their experience to answer these questions and more, allowing you to make the right investments to prep your house before you list. 2. Maximize Your Buyer Pool – and Your Sale Today, the average home is getting 3.6 offers per sale according to recent data from NAR. That’s great news if you’re planning to sell, since the more offers you receive, the more likely you are to sell your house in a bidding war, and for a higher price. Real estate agents have an assortment of tools at their disposal, like social media followers and agency resources, that will ensure your house is viewed by the most buyers. Without access to these tools and your agent’s marketing expertise, your buyer pool – and your home’s selling potential – is limited. 3. Understand the Documentation, Including the Fine Print Today, when a house is sold, more disclosures and regulations are mandatory, meaning the number of legal documents to juggle is growing. It’s hard to understand all the requirements and fine print (especially if you’re not an expert). That’s why your advisor is an invaluable guide. Your agent knows exactly what needs to happen, what all the paperwork means, and can work through it efficiently. They’ll help you review the documentation and avoid any costly missteps that could happen if you tackle it on your own. 4. Act as Your Expert Negotiator If you sell without an agent, you’ll also be solely responsible for all negotiations. That means you have to coordinate with: The buyer, who wants the best deal possible The buyer’s agent, who will use their expertise to advocate for the buyer The inspection company, which works for the buyer and will almost always find concerns with the house The appraiser, who assesses the property’s value to protect the lender Instead of going toe-to-toe with all these parties alone, lean on an expert. Your agent relies on experience and training to make the right moves throughout the negotiation. They’ll know what levers to pull, how to address each individual concern, and when you may want to get a second opinion. When you sell your house yourself, you’ll need to be prepared to have these conversations on your own. 5. Price It Right Real estate professionals have the expertise to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your house. These factors are key to making sure your house is priced to move quickly and get you the maximum return on your investment. When you sell as a FSBO, you’re operating without this advantage. That could cost you in the long run if you price your house too high or too low. Bottom Line There’s a lot that goes into selling your house, and it takes time, effort, and expertise to truly maximize your sale. Instead of tackling it alone, let’s connect to make sure you have an expert on your side. ✔Contact me for a free buyers or seller consultation! Let me help you buy or sell today! 🏡 Home Selling & Buying Made Simple 📢Receive Your Receive Your Complimentary Sellers & Buyers Guide! Contact Melissa Lampugnano Today! 904-330-4457 www.closing904realestate.com #stjohnsrealtor #stjohnsrealestate #actiontakerteam #realestate #staugustine #jacksonvillerealestate #northfloridarealestate #sellyourhouse #homebuying #homeinventory #realestateagent #stjohnsrealtor #momentumrealty #movingwithmomentum #melissalampugnano

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that's still historically low, but certainly higher than they are today.” Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials within the prime first-time buying ages of 26-35 heading into 2022, we expect the market to remain competitive.” Lawrence Yun, Chief Economist, National Association of Realtors (NAR): “With more housing inventory to hit the market, the intense multiple offers will start to ease. Home prices will continue to rise but at a slower pace.” George Ratiu, Manager of Economic Research, realtor.com: “We also expect a growing number of homeowners to bring properties to market, taking some pressure off high prices and offering buyers more options.” Mark Fleming, Chief Economist, First American: “Strong demographic demand will continue to act as the wind in the housing market’s sails.” What Does This Mean for Buyers? Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today’s affordability is still in your favor. What Does This Mean for Sellers? Make no mistake – this sellers’ market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver’s seat. But don’t wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won’t last forever. Work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year. Bottom Line If you’re thinking of buying or selling, 2022 may be your year. Let’s connect to discuss your goals and the unique opportunities you have in today’s housing market. ✔Contact me for a free buyers or seller consultation! Let me help you buy or sell today! 🏡 Home Selling & Buying Made Simple 📢Receive Your Receive Your Complimentary Sellers & Buyers Guide! Contact Melissa Lampugnano Today! 904-330-4457 www.closing904realestate.com #stjohnsrealtor #stjohnsrealestate #actiontakerteam #realestate #staugustine #jacksonvillerealestate #northfloridarealestate #sellyourhouse #homebuying #homeinventory #realestateagent #stjohnsrealtor #momentumrealty #movingwithmomentum #melissalampugnano

✔Contact me for a free buyers or seller consultation! Let me help you buy or sell today! 🏡 Home Selling & Buying Made Simple 📢Receive Your Receive Your Complimentary Sellers & Buyers Guide! Contact Melissa Lampugnano Today! 904-330-4457 www.closing904realestate.com #stjohnsrealtor #stjohnsrealestate #actiontakerteam #realestate #staugustine #jacksonvillerealestate #northfloridarealestate #sellyourhouse #homebuying #homeinventory #realestateagent #stjohnsrealtor #momentumrealty #movingwithmomentum #melissalampugnano