PBP Real Estate News and Events

Oct. 13, 2022

Four Things that Help Determine Your Mortgage Rate

Four Things That Help Determine Your Mortgage Rate | MyKCM

If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically.

If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few factors to focus on. Since approval opportunities can vary, connect with a trusted lender for customized advice.

Your Credit Score

Credit scores can play a big role in your mortgage rate. Freddie Mac explains:

When you build and maintain strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you’ve paid back your loans as agreed and used your credit wisely. Strong credit also means your lender is more apt to approve you for a mortgage that has more favorable terms and a lower interest rate.”

That’s why it’s important to maintain a good credit score. If you want to focus on improving your score, your trusted advisor can give you expert advice to help.

Your Loan Type

There are many types of loans, each offering different terms for qualified buyers. The Consumer Financial Protection Bureau (CFPB) says:

There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose.”

When working with your real estate advisor, make sure you find out what’s available in your area and which types of loans you may qualify for.

Your Loan Term

Another factor to consider is the term of your loan. Just like with location and loan types, you have options. Freddie Mac says:

When choosing the right home loan for you, it’s important to consider the loan term, which is the length of time it will take you to repay your loan before you fully own your home. Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.”

Depending on your situation, the length of your loan can also change your mortgage rate.

Your Down Payment

If you’re a current homeowner looking to sell and make a move, you can use the home equity you’ve built over time toward the down payment on your next home. The CFPB explains:

In general, a larger down payment means a lower interest rate, because lenders see a lower level of risk when you have more stake in the property. So if you can comfortably put 20 percent or more down, do it—you’ll usually get a lower interest rate.”

To learn more, connect with a lender to find out the difference a higher down payment can make for your new mortgage.

Bottom Line

These are just few factors that can help determine your mortgage rate if you’re buying a home. The best thing you can do is have a team of professionals on your side. Connect with a local real estate professional and a trusted lender so you have the expert advice you need in each step of the process.

Posted in Ask Gia!
Aug. 23, 2022

What Sellers Need to Know in Today's Housing Market

What Sellers Need To Know in Today’s Housing Market | MyKCM

If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. However, you do need to price your house right for today’s market. Here’s why.

As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”

It’s true that buyer demand has slowed over the past few months as higher mortgage rates have made it more expensive to buy a home. The result is fewer bidding wars and less competition among buyers (see visual below):

What Sellers Need To Know in Today’s Housing Market | MyKCM

But don’t forget – that’s compared to the severely overheated market we saw over the past two years. According to the latest Confidence Index from NAR:

“. . . 39% of homes sold above list price, down from 51% a month ago and 50% a year ago.”

While this is a slower pace than even one month ago, serious buyers are still actively in the market, and they’re buying homes that are priced right. In fact, the Confidence Index also notes the average home is selling in just 14 days.

If you’re aiming to sell your house, be sure you’re working with your agent to price it for today’s housing market. As buyer demand softens, it’s important to understand this isn’t the same market as last year. It’s not even the same market as just a few months ago. But it is still a sellers’ market.

If you’re ready to sell your house, seek the advice of a real estate professional. In some cases, you’ll need to adjust your expectations accordingly to meet the market where it is today. Selma Hepp, Interim Lead, Deputy Chief Economist at CoreLogicexplains what’s happening and what it means when you sell:

Signs of a broader slowdown in the housing market are evident, . . . This is in line with our previous expectations and given the notable cooling of buyer demand due to higher mortgage rates. . . . Nevertheless, buyers still remain interested, which is keeping the market competitive — particularly for attractive homes that are properly priced.”

Bottom Line

While the housing market has cooled from its overheated frenzy, it’s still a sellers’ market. Let’s connect so you understand what’s happening with buyer demand and home prices in our local area as you get ready to enter the market.

Posted in Ask Gia!
March 5, 2021

Luxury Dream Escape at One Ocean in Deerfield Beach

This highly sought-after 3 bedroom, 2.5 bathroom, 2nd floor luxury condo offers high end finishings and is just steps to famous Deerfield Beach and pier. This home features travertine high gloss marble floors throughout the living spaces and wood laminate flooring in the bedrooms. The open kitchen features breakfast bar, granite counters, stainless steel appliances and tile backsplash. The large master bedroom features crown moulding, a private balcony and large en-suite bathroom with spa tub, walk in shower and dual sinks. The second bedroom features a custom built-in queen sized Murphy bed with shelving and desk and a full jack and bathroom features dual sinks and granite counters and connects to the 3rd bedroom. All windows and doors are impact glass and plantation shutters are on the living room windows. Enjoy two balconies; one facing East and one facing South. This home also comes with 2 assigned parking spaces. 

One Ocean is a luxury boutique 2 building gated community that offers a resort style pool with spa, bbq and hammock area and a fabulous fully equipped fitness room. Enjoy living like others vacation on gorgeous Deerfield Beach!

Posted in Coastal
Feb. 2, 2021

JUST SOLD - Tamarron West Boca Raton

This impressive 4-bedroom, 4-bathroom, 3 car garage updated waterfront home will leave you speechless as it clearly stands out among the rest! This home features a private tennis court, resort-like heated pool and personal movie theater which also doubles as a hurricane room with 8-inch rebar reinforcing the room along with a whole house generator and impact glass. This dream home is situated on 1.1 acres of beautiful, tropical landscaping! The soaring ceilings, open living spaces, hardwood flooring throughout, architectural arches, crown moulding and recessed lighting reflect the detail and care put into this home. The chef's dream kitchen features Thermador appliances with built in coffee bar - cappuccino anyone? The rounded center island as well as oversized breakfast bar adds to the functionality of the area. The modern 2-tone cabinets, stone counters, stainless steel range-hood, and stylish backsplash elevates this kitchen to the next level.

We are so excited for our Seller and the new owners of this gorgeous property! Congratulations!

Oct. 22, 2020

Stunning Valencia Cove Home

12007 Bear River Rd, Boynton Beach, FL

This is it! This 3 bedroom + den AND bonus room, 3.5 bathroom, lake adjacent and corner lot home is ready to impress with custom architectural detail throughout! Enjoy the custom ceilings, gorgeous tile flooring, crown molding, wall molding, high end fixtures and custom window treatments. This home features a luxury kitchen with upgraded cabinets, granite counters and stainless steel appliances. It also has reverse osmosis whole house water filtration and whole-house generator! The impressive bedrooms offer custom closets and plenty of space! The bonus room is currently being used for storage but is ready to become an office, home gym or meditation room... whatever you desire! Enjoy morning coffee from the extended, tiled screened patio with hot tub and adjacent water views!

Valencia Cove is a premier active adult luxury community with tons of amenities including: tennis, pickle ball, bocce ball, 4 pools, clubhouse, table service dining (inside, poolside, takeout), fitness center, basketball, classes, clubs, card rooms, lectures, shows, entertainment, dances, ACBL Duplicate Bridge, canasta, mahjong, poker & 2 gated entrances.

Posted in Over 55
Aug. 14, 2020

22180 Woodset Ln, Boca Raton, FL

Gorgeous Dream Home for Sale in West Boca Raton

This impressive four bedroom, four bathroom, 3 car garage waterfront home will leave you speechless! Featuring a private tennis court, resort-like heated pool and personal movie theater, this dream home is situated on 1.1 acres of beautiful, tropical landscaping! The soaring ceilings, open living spaces, hardwood flooring throughout, architectural arches, crown moulding and recessed lighting reflect the detail and care put into this home. The chef's dream kitchen features Thermador appliances, water filtration system, built in coffee bar, a rounded center island as well as oversized breakfast bar. The modern 2-tone cabinets, stone counters, stainless steel range-hood, and stylish backsplash make this kitchen stand out among the rest.

The enormous master bedroom offers a connected small gym which could be used as an additional office or gym or yoga room. The expansive master bathroom features his/her sinks and cabinetry and an impressive soaking tub nestled among lovely arched windows. The additional 3 secondary bedrooms are also oversized and offer plenty of room for any layout. Enjoy movie night with the family inside the sound-proofed 8 seat movie theatre. The covered patio offers outdoor dining overlooking the impressive pool and private tennis court. Additional features include a whole house gas generator with 1,000 gallon propane tank, reinforced movie theater with 8 inches of rebar to serve as a safe storm room, impact glass throughout, canal-fed sprinkler system and oversized septic system.

This magnificent home is being offered at $1,100,000. For more information and/or a private viewing, please feel free to reach out to us at info@pbprealestate.com or 561.395.8418

June 28, 2020

Dream Home in Coconut Creek, FL


Do not miss out on this incredible, luxuriously upgraded dream home! This 4 bedroom + den, 2.5 bath pool home features scraped bamboo and neutral tile flooring throughout the living spaces, an open floorpan and an absolute dream kitchen with Cesar Stone Quartz counters and backsplash, stainless steel Frigidaire appliances, a huge breakfast island and tons of cabinet space. The large family room features custom builtins and overlooks the private backyard paradise. Upstairs, the spacious master suit features durable wood-look flooring, a large walk in closet and a fully upgraded spa retreat en-suite complete with soaker tub, LED mirror, dual sink and quartz counters. The glass enclosed shower and 3D tile accent wall complete this dreamy high-end master bathroom...

All secondary bedrooms have also been finished with durable wood look flooring, neutral paint, ceiling fans and ample closet space. The covered, screened patio, which is perfect for morning coffee, opens to the private, fenced and beautifully landscaped backyard oasis that backs up to the lake and Lakeside Park. Escape to your personal paradise and float in the heated saltwater pool, enjoy dinner al fresco under the covered pergola, then sip fire-side cocktails as you watch the sunset from your own slice of heaven. This home has been upgraded to include impact windows and doors on the first floor, according shutters throughout and electric shutters for the larger second story windows. Essex Park at Regency Lakes is walking distance to the community pool, gym, volleyball, basketball, tot-lot and clubhouse. You can also walk to the recently renovated Lakeside Park, Tradewinds Elementary, Publix and many other local shops and delicious dining. Quick access to major highways and a short drive to the beach

Posted in Community
June 10, 2020

What is a forbearance?

The definition of a forbearance is an agreement between the homeowner borrower and the lender to delay a foreclosure.

So what does that mean in today's terms?

To request a forbearance today is to request the lender "hold back" or to allow the homeowner borrower a delay in making the payment. For some borrowers, this  may make financial sense if there was a loss in income or job loss, especially if you have a federally backed loan like Fannie Mae or Freddie Mac, which represents about 50% of all home loans. What this means to those borrowers is that the lender and/or servicer will allow the borrower to delay making the payments for a period of time and then will add those missed payments to the back end of the loan.

Unfortunately, for some borrowers who do not have a federally backed loan, the lender and/or servicer may require that homeowner borrower to "catch up" with their payments before making the next payment. So, for example if a borrower received a forbearance for 4 months, they may have to pay the entire 4 month delay before making the next payment whereas a FannieMae or FreddieMac loan may put those payments at the end of the loan.

If you want more information regarding forbearances, if it makes sense for you and/or how it affects you moving forward, let us know. We are here to help! 

Posted in Short Sales
April 9, 2020

Waterfront Home in East Boca Raton for under $1,000,000

700 NW 7th Avenue, Boca Raton, FL 33486

This stunning updated and expertly designed estate home located in the heart of Boca offers endless style, luxury and fine living throughout. The modern impact glass sliding doors off of the spacious living area pocket all the way back behind the wall, providing expansive open views of the private and lush backyard and pool which also overlooks the El Rio canal with access to the ocean.

The entire first floor features Mexican tile flooring throughout, which beautifully compliments the modern yet rustic interior design. The second story features all 3 spacious bedrooms and stunning oak flooring throughout. Central to the home is a chef's dream kitchen with a Viking range and hood, gas stove top, double oven and French door refrigerator! You also have your choice of a single drawer dishwasher or a full dishwasher for easy kitchen cleanup!

This home has also been updated with full impact glass windows and new plumbing throughout as well as added high hats, ceiling fans, security cameras and exterior uplighting.

From this amazing location you can walk to Mizner Park or hop in the car for just a minutes drive to endless fine dining, shopping and beaches!


For more information or to schedule a private showing, please reach out to us.

Feb. 14, 2020

Inside Look at a $5,650,000 Intracoastal Waterfront Home in Boca Raton

This luxurious home is located in the Boca Keys Subdivision in East Boca Raton.

A rarely available Boca Raton dream estate located on an oversized waterfront point lot, abutting the intracoastal and access canal, offering both South and East direct water views and access. This Tuscan-styled estate was built in 2002 and provides 233 feet of water frontage, dockage for up to 75' yacht, almost 9,000 square feet of living space, 6 bedrooms, 8.5 bathrooms, 4 garages, elevator, home theatre, home gym/sitting room overlooking the waterway, pool and endless luxury.

Take a peek:

The professional landscaping greets you as you approach this extraordinary home. Enter and be impressed by the grand staircase with stunning wrought iron railings and an elegant statement chandelier. The luxury architectural details throughout the estate including coffered ceilings, crown moldings, grand entry foyer, custom mill work, imported marble and stone, chef's dream kitchen with high end gas appliances, dual refrigerators, spacious island, breakfast nook overlooking the water, large bar area and high-end elements throughout will leave you amazed at the thoughtful design and detailing to be found in every room.

The spacious master retreat offers beautiful design elements, a stunning fireplace and built in TV unit and connects to a private balcony overlooking the water. You can also overlook the water from the large soaker tub in the hers master en-suite.

Additional features include all new air conditioning units, first and second floor laundry, outdoor BBQ, generator and more.

This is an extraordinary opportunity to own a remarkable Boca Raton estate a rarely available oversized waterfront point lot!

For more information, reach out to us at 561.395.8418