Now Serving Oakland!

Now Serving Oakland!

Sure, and why not? it feels more like old Winter Garden in Oakland than Horizon’s West – which somehow has the same zip code as Winter Garden – yet it extends half way to Disney and really has nothing to do with the Winter Garden that most of us have come to think of.

The beautiful and much overlooked Oakland is as pretty as it gets.

Oakland Park for example, features a number of new townhomes and single family homes that are right off the Orange County bike trail, just a short jog from Plant Street.

And then there are the old time, single family homes in the backstreets that feel like they’ve been there forever, their sandy roads and driveways reminiscent of Windermere. Sshh! Don’t tell anyone.

So yes, we cover Oakland as well. Ask us about the Reserve at Oakland Park or Briley Farm! 

 

 

Crooked Can
Fed Finally Cuts Rates

Fed Finally Cuts Rates

The Fed Rate Cut

It’s September 2024 and the Federal Reserve has finally lowered its rate by .5% – a little more than we dared to hope for, with further rate cuts possible before the end of the year. This is great news because it suggets that inflation is finally trending downward and consumer confidence is gaining. However…

It doesn’t necessarily follow that mortgage rates immediately drop. The “Fed rate” is not tied directly to mortgage rates; instead it’s the fee U.S. banks pay each other to borrow or loan money overnight. The reduction does trickle down to products like credit cards, student loans and, yes, mortgages eventually we hope– but it may take a second. The good news is that homes are about to get more affordable.

New, Higher Conforming Loan Limits

You may have heard about ‘conforming loan’ limits rising. The Federal Housing Finance Agency (FHFA) regulates Fannie Mae & Freddie Mac and set the limits, which are essentially a cap on the amount of a mortgage they are prepared to guarantee. The FHFA typically raises these limits every fall, according to home prices. As home prices increase or decrease, loan limits respond accordingly. 

Higher limits mean you can get a larger conventional loan while still benefiting from more flexible qualifying criteria and lower down payment options than with, say, a jumbo loan, which can be tougher to qualify for because they’re not backed by Fannie or Freddie.

However, jumbo loans etc. can still be great for the right clients. Their rates can be better than Fannie and Freddie because jumbo loans aren’t subject to loan level price adjustments (LLPAs). 

On the downside, with all the pent up demand and buyers rushing back to the marketplace together, well, home prices are likely to respond accordingly. Upward. Remember the days of multiple offers on Day 1 with each higher than the last? Yeah me too. Seems like you just can’t win – but either way, paying off your own home sure beats paying off your landlord’s home.

The Crooked Can at Dawn

The Crooked Can at Dawn

An early morning walk along Plant Street is not only more invigorating now that fall is here–but it can reveal things in a different light, quite literally.

Fewer people, a different vibe, and a sense of peace that will alow you to collect your thoughts before the day begins. A change in perspective can help alter perspective.

Schedule a walk alone at dawn and you might be surprised how it clears your mind and sets you up for the day!

Crooked Can

Finally quiet, the busy Plant Street market stands out for its bricked simplicity.