Fort Lauderdale Blog

3 Tips for Homebuyers in a Competitive Market

3 Tips for Homebuyers in a Competitive Market

Fort Lauderdale, Fl

Homebuyers traditionally face competition at the height of real estate season. Now, with market indicators reaching record post-recession milestones, competition is stiffer than ever.

To gain an edge as a buyer, real estate professionals advise:

Getting Pre-Approved – Getting pre-approved for financing will give you significant leverage in negotiations with the seller—and knowing exactly what you can afford will keep you on track if a bidding war ensues.

Mortgage Applications Jump 7.2 Percent

Fort Lauderdale, Fl.

Mortgage applications increased 7.2 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 8, 2016. This week's results included an adjustment for the Fourth of July holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 7.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 14 percent compared with the previous week. The Refinance Index increased 11 percent from the previous week. The seasonally adjusted Purchase Index was unchanged from one week earlier. The unadjusted Purchase Index decreased 20 percent compared with the previous week and was 5 percent lower than the same week one year ago. Last year, the Fourth of July fell on the prior week.

The Ultimate Household Emergency Kit

The Ultimate Household Emergency Kit

Fort Lauderdale, Fl

In an emergency, it pays to be prepared—and for homeowners, that means having the essentials readily accessible at a moment’s notice. Keep your emergency kit stocked with these necessities:

- Battery-powered smoke and carbon monoxide detectors, plus extra batteries
- Battery-powered or hand-crank NOAA weather radio with tone alert, plus extra batteries
- Blankets
- Candles
- Cell phone with charger adapter and extra battery
- Compass
- Extra shoes
- First-aid kit