How Home Equity May Help You Buy Your Next Home in Cash

December 23, 2024 by christianpenner

How Home Equity May Help You Buy Your Next Home in Cash

Building equity in your house is one of the biggest financial advantages of homeownership. And right now, homeowners across the country are sitting on record amounts of it.

Here’s a look at how that equity could be a game changer for you, and why it’ll flip your perspective from “Why would I move right now?” to “Why wouldn’t I?”

Home Equity: What Is It?

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is valued at $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.

Why Equity Is Such a Big Deal for Homeowners Looking To Sell

Recent data from the Census and ATTOM shows how significant today’s home equity really is. In fact, more than two out of three homeowners have either completely paid off their mortgages (shown in green in the chart below) or have at least 50% equity in their homes (shown in blue in the chart below):

And that’s a big deal. Think about it: 2 out of 3 homeowners have at least 50% equity in their homes. To put a more tangible number on it so you can think about what that really means for someone like you, CoreLogic shows the average homeowner has $311,000 worth of equity built up. That kind of net worth can go a long way if you’re trying to make a move.

And that’s part of the reason why the share of all-cash buyers recently reached a new high. According to an annual report from the National Association of Realtors (NAR), 26% of buyers were able to buy without a mortgages (see graph below):

Imagine buying your next house in cash. No mortgage. No monthly payment. No interest rate to mess with. If you want to find out how much equity you have to see if that’s an option for you, connect with a real estate agent and ask for a professional equity assessment report (PEAR).

Who knows, you may find out you have enough equity to buy your next place outright– and with today’s mortgage rates, not having to take out a home loan is pretty incredible. Even if you don’t have enough equity to buy in all cash, you may still have enough to make a larger down payment, which has its own benefits too.

Homeowners have an incredible amount of equity today – and that’s why the share of all-cash buyers is on the rise. To see how much equity you have and talk through how it can help fuel your next move, let’s connect.

How Home Equity May Help You Buy Your Next Home in Cash

Building equity in your house is one of the biggest financial advantages of homeownership. Over time, as you pay down your mortgage and your property appreciates, your home equity grows. This wealth-building tool can be a game changer when it’s time to move. Imagine buying your next house in cash — no mortgage, no monthly payments, and no worries about fluctuating interest rates. Let’s dive into how this works and why today’s home equity could be your golden ticket to a mortgage-free future.

What Is Home Equity?

At its core, home equity is the difference between how much your house is worth and how much you owe on your mortgage. This is often referred to as your “stake” in the property. For example:

If your house value is $400,000 and you owe $200,000, you have $200,000 in home equity.
This equity calculation is straightforward but powerful.

According to Census Data and Attom Data, today’s home equity levels are at historic highs. Many homeowners have enough equity to buy their next home outright, eliminating the need for a home loan. It’s not just about the numbers; it’s about the financial advantage that equity provides.

Why Equity Could Be a Game Changer

Let’s explore why equity could be a game changer. Recent data from CoreLogic reveals that the average homeowner has $311,000 in equity. This level of wealth can reshape how you approach your next move. In fact:

Two out of three homeowners either own their homes outright or have more than 50% equity in their properties.
The share of all-cash buyers has reached a new high, according to the National Association of Realtors (NAR).

This means a significant portion of buyers are skipping the traditional home loan route altogether. Imagine the freedom of not having to deal with mortgage preapproval in West Palm Beach, finding the best mortgage rates in West Palm Beach, or navigating the complexities of first-time home buyer loans in West Palm Beach. Buying your next house in cash isn’t just a dream; it’s a real possibility for many.

How to Find Out How Much Equity You Have

Before making any decisions, it’s crucial to find out how much equity you have. This involves a few key steps:

Equity Assessment: Consult a real estate agent or a West Palm Beach mortgage broker for a professional equity assessment report (PEAR). This report provides an accurate snapshot of your house value and how much equity you’ve built.
Equity Calculation: Use West Palm Beach mortgage calculators to estimate your equity. These tools consider your mortgage balance, property value, and other factors.
Connect with a Real Estate Agent: A local expert can guide you through the process and help you determine if you have enough equity to buy your next place without a home loan.

The Benefits of Buying Your Next House in Cash

The perks of buying your next house in cash are undeniable. Here are just a few:

Mortgage-Free Living: No more monthly payments or worrying about interest rates.
Financial Freedom: Use the money saved on mortgage payments to invest, travel, or simply enjoy life.
Simplified Transactions: Cash purchases often close faster and come with fewer contingencies.

Even if you don’t have enough equity to buy in all cash, you could make a larger down payment. This reduces your loan amount, potentially qualifying you for affordable West Palm Beach home loans with better terms.

Leveraging Today’s Home Equity in West Palm Beach

For those in sunny South Florida, today’s home equity presents unique opportunities:

Refinancing Options: Consider West Palm Beach refinancing options to access your equity without selling.
Local Mortgage Lenders in West Palm Beach: Work with professionals who understand the local housing market.
Property Loan Advice in West Palm Beach: Whether you’re exploring commercial mortgage brokers in West Palm Beach or seeking guidance on residential moves, local expertise is invaluable.

The Role of Real Estate Agents and Mortgage Brokers

Partnering with a trusted real estate agent or West Palm Beach mortgage broker can streamline your journey. They’ll help you:

Navigate the housing market.
Access resources like mortgage calculators and equity assessments.
Understand home loan alternatives that align with your goals.

Their insights can ensure you’re making informed decisions based on your net worth and financial position.

Equity and Lifestyle Goals

Beyond financial gains, tapping into your home equity can help you align your housing choices with your lifestyle goals. Whether you’re looking for a bigger home for a growing family, downsizing for retirement, or relocating to a dream destination like West Palm Beach, your equity can make those dreams a reality.

Relocation Freedom: With sufficient equity, moving to a different neighborhood, city, or even state becomes easier.
Upgrading: Use your equity to buy a larger, more luxurious home without drastically increasing your financial burden.
Downsizing: For empty nesters, downsizing can free up cash and reduce ongoing expenses, adding to your overall financial advantage.

Real Estate Trends and Equity Utilization

The current housing market offers unique opportunities for those leveraging their home equity. Here are some trends to keep in mind:

Rising Property Values: Increased home values have contributed to record levels of equity. This trend benefits sellers looking to maximize their returns.
Interest Rate Sensitivity: While today’s mortgage rates may discourage some buyers, those purchasing in cash can sidestep this challenge entirely.
All-Cash Buyers on the Rise: With 26% of buyers purchasing homes without a mortgage, this demographic continues to grow, fueled by rising equity and smart financial planning.

Steps to Maximize Your Home Equity

If you’re considering buying your next house in cash, follow these steps to maximize your equity:

Maintain Your Property: Regular maintenance and strategic renovations can increase your house value, boosting your equity.
Pay Down Your Mortgage: The faster you reduce your loan balance, the more equity you’ll build.
Monitor the Market: Keep an eye on property trends in your area, especially in hotspots like West Palm Beach, where rising values can rapidly grow your equity.

The Emotional and Lifestyle Impact of Buying in Cash

Imagine a life free from monthly mortgage payments. The peace of mind that comes with knowing your home is fully paid for extends beyond financial security. Here’s how buying in cash can impact your life:

Stress Reduction: Eliminate the worry of missed payments or unexpected interest rate hikes.
Career Flexibility: Without a home loan, you might feel freer to explore career changes or entrepreneurial ventures.
Enhanced Stability: Owning your home outright can provide a sense of permanence and stability, especially during economic fluctuations.

A Spotlight on West Palm Beach

West Palm Beach offers unique advantages for cash buyers. Known for its vibrant culture, stunning beaches, and strong housing market, this city has become a prime destination for those looking to leverage their home equity.

Whether you’re working with a West Palm Beach mortgage broker to explore home loan alternatives or tapping into your equity to go mortgage-free, the opportunities in this region are unparalleled. From waterfront properties to downtown condos, there’s something for every lifestyle and budget.

Conclusion: Take Action Today

Home equity is more than a number; it’s a gateway to financial independence and flexibility. Whether you’re planning to relocate or invest, the amount of equity today could pave the way for buying your next house in cash. Take the time to find out how much equity you have, explore your options, and connect with experts who can guide you through the process. The freedom of being mortgage-free might be closer than you think.

Don’t wait—consult with a real estate agent, explore your options with a West Palm Beach mortgage broker, and take the first steps toward your next chapter in life.

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Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

November 25, 2024 by christianpenner

Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

One major reason why we’re not heading toward a foreclosure crisis is the high level of equity homeowners have today. Unlike in the last housing bubble, where many homeowners owed more than their homes were worth, today’s homeowners have far more equity than debt.

That’s a big part of the reason why even though mortgage debt is at an all-time high, this isn’t 2008 all over again. As Bill McBride, Housing Analyst for Calculated Risk, explains:

“With the recent house price increases, some people are worried about a new housing bubble – but mortgage debt isn’t a concern . . .”

Today’s homeowners are in a much stronger position than ever before. So, let’s break it down and see why today’s mortgage debt isn’t anything to fear.

More Equity, Less Risk of Foreclosures

According to the St. Louis Fed, total homeowner equity is nearly triple the total mortgage debt today (see graph below):

High equity makes it less likely for homeowners to face foreclosure because they have more options. If someone struggles to make their mortgage payments, they could potentially sell their house and still come out ahead thanks to their built-up equity.

Even if home values were to dip, most homeowners would still have a comfortable cushion of equity. That’s a big contrast to the 2008 crisis, where many homeowners were underwater on their mortgages and had few options to avoid foreclosure.

Delinquency Rates Are Still Near Historic Lows

Another reassuring sign is that, according to the NY Fed, the number of mortgage payments that are more than 90 days late is still near historic lows (see graph below):

This is partly due to a variety of programs designed to help homeowners through temporary hardships. As Marina Walsh, VP of Industry Analysis at the Mortgage Bankers Association (MBA), says:

“. . . servicers are helping at-risk homeowners avoid foreclosures through loan workout options that can mitigate temporary distress.”

So, even if someone falls behind on their payments, there are support systems in place to help them avoid foreclosure.

Low Unemployment Helps Keep the Market Stable

One other important factor is today’s low unemployment rate. More people have stable jobs, which means they’re better able to afford their mortgage payments. As Archana Pradhan, Principal Economist at CoreLogic, explains:

“Low unemployment numbers have helped reduce the overall delinquency rate . . .”

During the last housing crisis, unemployment was much higher, which led to a wave of foreclosures. Today’s unemployment rate is very different (see graph below):

That stability in how many people are employed is one of the reasons the market doesn’t have the same risks as it did the last time.

There’s no need to worry about a wave of distressed sales like the one we saw in 2008. Most homeowners today are employed and have low-interest mortgages they can afford, so they’re able to make their payments. As McBride states:

“The bottom line is there will not be a huge wave of distressed sales as happened following the housing bubble.”

While mortgage debt is high, rest assured the market isn’t on the brink of another crash. Instead, most homeowners are in a strong position. If you have questions or concerns, let’s connect.

Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

The housing market has always been a cornerstone of financial discussions. From its resilience to its volatility, it’s a topic that shapes economies and lives alike. However, there’s been a persistent question looming in the minds of many: Is the current level of mortgage debt foreshadowing another housing market crash? The good news is that today’s data, trends, and safeguards tell a different story. Let’s explore why today’s mortgage debt is not the harbinger of doom some might fear.

The Past as a Lesson: Understanding the Last Housing Bubble

To understand the present, we must revisit the last housing bubble of the mid-2000s. That era was defined by reckless lending practices, sky-high speculation, and a lack of equity in properties. When home prices plummeted, homeowners were left underwater—owing more than their homes were worth. This led to widespread foreclosures and an ensuing foreclosure crisis that left scars on the financial system.

Fast forward to today, and the picture couldn’t be more different. While total mortgage debt today has grown in absolute terms, the financial and economic environment surrounding it is far more stable. Let’s break down the factors that differentiate this era from the last.

1. More Equity, Less Risk

One of the most compelling reasons why today’s mortgage situation is stable is the sheer amount of homeowner equity in the market. Homeowners now have high equity levels, thanks to years of rising home values and more cautious lending practices. Unlike the mid-2000s, most homeowners are not over-leveraged.

The mortgage debt-to-equity ratio today is healthier than it has been in decades. This means that even if home prices were to dip slightly, the majority of homeowners would still have more equity than debt in their properties. This buffer acts as a safeguard against mass foreclosures, as people are less likely to walk away from homes where they have significant financial stakes.

2. Low Delinquency Rates Reflect Financial Stability

Another critical metric to consider is delinquency rates. During the last housing bubble, these rates skyrocketed as homeowners struggled to keep up with their mortgage payments. In contrast, we are currently experiencing low delinquency rates, thanks to several factors:

Low unemployment: A robust job market means more people can reliably make their monthly payments.
Support programs for homeowners: Government and private sector initiatives have created safety nets for individuals facing financial difficulties.
Affordable West Palm Beach home loans and other accessible financing options help keep payments manageable for buyers in many regions.

3. Responsible Lending Practices

The reckless lending that characterized the housing bubble era is now a cautionary tale. Modern lending standards emphasize affordability and creditworthiness, reducing the likelihood of defaults. West Palm Beach mortgage brokers and other regional experts now prioritize educating buyers on their options, from mortgage preapproval in West Palm Beach to exploring first-time home buyer loans in West Palm Beach.

Additionally, tools like West Palm Beach mortgage calculators allow buyers to accurately estimate their payment obligations, ensuring they don’t overextend themselves.

4. The Role of Rising Home Values

Rising home values have been a double-edged sword in the housing market. While they’ve made entry more challenging for new buyers, they’ve also bolstered homeowner equity across the board. High levels of equity mean fewer defaults and foreclosures, as homeowners have financial flexibility to refinance or sell if needed.

This trend is especially pronounced in dynamic markets like West Palm Beach, where property loan advice in West Palm Beach and local mortgage lenders in West Palm Beach ensure buyers and owners understand their opportunities.

5. West Palm Beach as a Case Study

The West Palm Beach market serves as a microcosm of national trends. Homebuyers and investors are drawn to the area for its strong job market, attractive lifestyle, and thriving real estate scene. The availability of best mortgage rates in West Palm Beach and diverse West Palm Beach refinancing options supports stable homeownership in the region.

For those considering investing, commercial mortgage brokers in West Palm Beach and tailored advice ensure a smooth transaction process. This emphasis on education and transparency helps mitigate the risk of over-leverage or uninformed decisions.

6. Safety Nets: Support Programs for Homeowners

Today, there are more robust support programs for homeowners than ever before. From government interventions to private sector initiatives, these programs provide temporary relief for those struggling with their mortgage payments. Whether it’s loan modification options or forbearance programs, these measures have contributed to the low delinquency rates we see today.

7. Mortgage Debt vs. Total Economic Health

While the headlines may point to the rise in total mortgage debt today, it’s crucial to contextualize this number. The economy as a whole has grown, wages have increased, and low unemployment means households are better equipped to manage their debts.

In West Palm Beach, affordable home loans and competitive rates from local mortgage lenders in West Palm Beach further ensure that borrowing remains sustainable for many. Additionally, the role of tools like West Palm Beach mortgage calculators provides prospective buyers with clarity, empowering them to make informed decisions.

8. Future-Proofing the Housing Market

While no market is entirely immune to fluctuations, today’s housing market is built on a much more solid foundation than in 2008. Proactive measures like higher down payment requirements and stricter lending standards have reduced speculative buying. At the same time, the abundance of high equity in properties acts as a cushion against potential downturns.

Conclusion: A Balanced Perspective

It’s easy to be wary when you see terms like “rising debt” in economic headlines. However, today’s mortgage debt exists in a very different context than during the last housing bubble. With low delinquency rates, more equity, and a strong economy, the current housing market is far from the precipice of a crash.

For potential buyers in regions like West Palm Beach, the availability of affordable West Palm Beach home loans, first-time home buyer loans in West Palm Beach, and West Palm Beach refinancing options offers numerous opportunities. Whether you’re exploring commercial mortgage brokers in West Palm Beach or seeking mortgage preapproval in West Palm Beach, the tools and resources available today ensure you’re making well-informed decisions.

Ultimately, while vigilance is always wise, the evidence overwhelmingly supports the conclusion that the current housing market is resilient, sustainable, and primed for long-term stability.

The Resilience of Today’s Homeowners

One of the strongest pillars of the modern housing market is the resilience and financial health of today’s homeowners. Unlike in the past, where speculative buying and flipping were rampant, today’s buyers tend to approach homeownership with long-term intentions. This shift in mindset has created a more stable market, as people are less likely to overextend themselves financially.

Moreover, the rise in high equity levels has empowered many to weather short-term financial challenges. For instance, if a homeowner faces unexpected expenses, the ability to tap into their home equity through refinancing or a home equity line of credit (HELOC) provides a safety net. Many West Palm Beach refinancing options cater specifically to this need, allowing homeowners to restructure their debt or access funds without risking foreclosure.

The Role of Technology in Mitigating Risk

Modern technology has also played a significant role in making the housing market more secure. Buyers now have access to an array of tools and resources, such as West Palm Beach mortgage calculators, which enable them to project costs and compare loan options. These tools demystify the home-buying process and reduce the chances of borrowers taking on unsustainable debts.

Additionally, local mortgage lenders in West Palm Beach and elsewhere leverage digital platforms to streamline preapproval processes, verify income and assets, and ensure buyers meet the necessary criteria. These advancements create a more transparent and efficient lending system, reducing the likelihood of risky loans being issued.

Addressing Concerns About Rising Mortgage Debt

It’s worth acknowledging that the rise in total mortgage debt today can be alarming at first glance. However, this increase must be viewed in the context of broader economic growth. Rising wages, higher home values, and inflation all contribute to larger mortgage balances, but these factors also mean that homeowners are better positioned to handle their debts.

Consider this: while mortgage debt has grown, so have home prices. This growth has directly contributed to high equity levels, which provide a safety cushion for homeowners. In markets like West Palm Beach, where properties remain in high demand, affordable West Palm Beach home loans ensure that buyers can secure financing without overextending themselves.

The Impact of Regional Strength on Housing Stability

Regions like West Palm Beach offer a case study in how localized factors contribute to housing market resilience. The area’s strong economy, coupled with its attractiveness to both retirees and young professionals, creates a steady demand for housing. This demand supports rising home values and ensures that West Palm Beach mortgage brokers remain active in helping buyers and investors secure loans.

Furthermore, West Palm Beach is known for offering diverse options, from first-time home buyer loans in West Palm Beach to commercial mortgage brokers in West Palm Beach who assist businesses in acquiring property. These opportunities highlight the adaptability of the local market, which is better equipped to handle fluctuations compared to more speculative regions.

Why Today’s Mortgage Payments Are Manageable

Despite concerns about rising interest rates, today’s mortgage payments remain relatively manageable for most homeowners. This is partly due to the historically low rates that dominated the market over the last decade, which allowed many buyers to lock in affordable payments. Even as rates have risen recently, West Palm Beach mortgage brokers and lenders across the country are finding creative ways to keep financing accessible.

For example, buyers can explore adjustable-rate mortgages (ARMs) or opt for longer loan terms to reduce their monthly payments. In addition, support programs for homeowners have been instrumental in helping those with financial challenges avoid falling behind on payments.

Why Foreclosure Rates Remain Low

The specter of mass foreclosures loomed large during the foreclosure crisis of the 2000s, but today’s landscape looks very different. With low delinquency rates and more equity in homes, the risk of a foreclosure wave is minimal. Even in cases where homeowners face difficulties, the process to avoid foreclosure is much more robust than it was two decades ago.

For example, many lenders now work with borrowers to find solutions, whether it’s through loan modifications, repayment plans, or refinancing options. In markets like West Palm Beach, where property loan advice in West Palm Beach is readily available, homeowners have access to the expertise needed to navigate challenging situations.

Economic Indicators Point to Stability

Beyond the housing market itself, broader economic indicators reinforce the idea that we are not heading for a crash. Low unemployment, strong wage growth, and a recovering post-pandemic economy all contribute to a more stable environment for housing. The unemployment rate is a critical factor here; when people have steady incomes, they can keep up with their mortgage payments, reducing the likelihood of defaults.

The Future of the Housing Market: A Bright Outlook

Looking ahead, the housing market appears well-positioned for continued growth and stability. While challenges such as affordability and rising interest rates remain, these are being addressed through targeted initiatives. For instance, affordable West Palm Beach home loans and other regional efforts ensure that first-time buyers and those with moderate incomes can still enter the market.

Investors and homeowners alike can take comfort in the safeguards now in place, from support programs for homeowners to the availability of tools like West Palm Beach mortgage calculators. These resources not only promote responsible borrowing but also protect against the kind of systemic risks that led to the last housing bubble.

Final Thoughts

While the rise in mortgage debt may spark comparisons to the last housing bubble, today’s market is fundamentally different. With high equity levels, low delinquency rates, and a strong economic backdrop, the housing market is far from a collapse. Buyers and investors, particularly in thriving regions like West Palm Beach, have access to a wealth of opportunities and safeguards that ensure long-term stability.

From securing the best mortgage rates in West Palm Beach to exploring refinancing options and leveraging property loan advice in West Palm Beach, today’s market is built on informed decision-making and financial resilience. This era of homeownership, defined by caution and opportunity, is a far cry from the speculative frenzy of the past. Rest assured, the housing market is on solid ground.

The Critical Role of Home Equity in Market Stability

At the heart of the current housing market’s resilience lies one simple yet powerful concept: home equity. Unlike in the 2008 crisis, where millions of homeowners were “underwater,” today’s homeowners enjoy high equity levels that act as a financial cushion. This equity is a direct result of steady home value appreciation over the past decade and the stricter lending standards implemented after the last downturn.

For instance, a homeowner in West Palm Beach who bought a property five years ago likely has seen their home values increase significantly. This rise not only boosts homeowner equity but also provides the flexibility to refinance or sell at a profit if financial challenges arise. West Palm Beach refinancing options allow homeowners to restructure their loans and tap into this equity for renovations, debt consolidation, or other needs, creating a virtuous cycle of stability and investment.

Moreover, higher equity translates to fewer foreclosures. A homeowner with substantial equity is less likely to default, as they have the option to sell their property and still walk away with a profit. This contrasts sharply with the foreclosure crisis of the past, where plummeting home values left millions with no way out.

Low Unemployment and Its Ripple Effect on Housing

The current unemployment rate plays a significant role in maintaining housing market stability. Low unemployment means that more households have steady incomes, which directly correlates to their ability to manage mortgage payments. This economic strength underpins low delinquency rates, as fewer homeowners are falling behind on their obligations.

In West Palm Beach, a strong job market fuels both housing demand and financial security. With diverse employment opportunities and a growing population, the area continues to attract buyers. Local mortgage lenders in West Palm Beach work closely with clients to ensure their loans are structured to match their income levels, further reducing risks of default.

Additionally, the region’s appeal extends to retirees, remote workers, and business owners, all of whom contribute to a diversified housing market. Whether it’s securing first-time home buyer loans in West Palm Beach or working with a commercial mortgage broker in West Palm Beach, the area offers pathways to ownership and investment for a wide range of demographics.

Mortgage Preapproval: A Key to Informed Buying

One of the best ways buyers can protect themselves in today’s market is by seeking mortgage preapproval in West Palm Beach or their respective locations. Preapproval ensures that buyers understand their financial limits before making offers, preventing the kind of overleveraging that contributed to the last housing bubble.

Modern preapproval processes are streamlined and transparent. Buyers can use tools like West Palm Beach mortgage calculators to estimate monthly payments and assess the impact of different interest rates or loan terms. Armed with this information, they can confidently navigate the market, knowing they’re making financially sound decisions.

Commercial Real Estate and Its Broader Impact

While much of the discussion around mortgage debt focuses on residential properties, the commercial sector also plays a significant role in the market’s overall health. Commercial mortgage brokers in West Palm Beach help businesses secure financing for office spaces, retail locations, and industrial properties. The demand for commercial real estate often reflects broader economic trends, and in regions like West Palm Beach, it highlights a thriving local economy.

Businesses investing in property create jobs, stimulate local spending, and reinforce the area’s attractiveness to residents. This synergy between residential and commercial real estate contributes to the stability of the market as a whole.

The Affordability Factor: Addressing Concerns

While it’s true that rising home values have made affordability a challenge for some buyers, solutions are emerging. Programs offering affordable West Palm Beach home loans and first-time home buyer loans in West Palm Beach are tailored to help individuals and families achieve homeownership without overextending themselves.

These programs often include features like lower down payment requirements, competitive interest rates, and assistance with closing costs. Buyers who take advantage of these opportunities can enter the market with confidence, knowing they’re making a sustainable investment.

Safeguards Against Future Downturns

The safeguards introduced after the 2008 crisis have fundamentally changed the way the housing market operates. These include:

Stricter lending standards: Borrowers must now demonstrate their ability to repay loans, reducing the risk of defaults.
Loan servicing regulations: Lenders are required to work with borrowers who face financial challenges, offering options like modifications or repayment plans.
Support programs for homeowners: From government-backed assistance to private-sector initiatives, these programs provide lifelines to those struggling with mortgage payments.

In addition, West Palm Beach mortgage brokers and other professionals prioritize educating buyers about their options. Whether it’s refinancing, accessing West Palm Beach refinancing options, or planning for future rate changes, these experts help homeowners stay ahead of potential challenges.

Conclusion: Stability in Today’s Housing Market

The housing market today is fundamentally stronger and more resilient than during the last housing bubble. With high equity levels, low delinquency rates, and a thriving economy, the risk of a widespread crash is minimal. Instead, the market is characterized by cautious optimism, informed decision-making, and a focus on long-term sustainability.

For buyers and investors, regions like West Palm Beach offer a wealth of opportunities. From securing affordable West Palm Beach home loans to exploring commercial mortgage brokers in West Palm Beach, the resources available ensure that individuals and businesses alike can thrive in this robust market.

As we move forward, the combination of strong economic fundamentals, responsible lending practices, and proactive homeowner support will continue to underpin the housing market’s stability. While challenges like rising interest rates and affordability persist, they are being addressed in ways that promote resilience and growth. In short, today’s mortgage debt is not a warning sign but rather a reflection of a healthy and evolving housing market ready to weather future changes.

Read from source: “Click Me”

Questions, Comments or For more information you can call

Christian Penner Branch Manager at 561-316-6800 or email us at TheMortgageTeam@ChristianPenner.com

Approval Hotline: 561-316-6800

Helping You Achieve the American Dream of Home Ownership

Or You can click “Call Me” below to call Christian Penner directly using Google Voice

We Specialize in All Types of Financing, Mortgage Loans and Real Estate Deals.

We have been in the Mortgage and Real Estate Business since 1997!

Connect with us on Social Media

Personal Profiles:

America’s Mortgage Solutions:

YouTube Video Playlist Links:

American Dream TV Show | Mortgage Process Steps | Homebot Videos | Traditional Loan Programs | NON-QM & Portfolio Loan Programs

HomeBot: Build more wealth with your home

Homeowners👉https://hmbt.co/nwCdmG
Homebuyers👉 https://hmbt.co/G8fMT
Realtors 👉 https://youtu.be/wXROJXQWgug
Join here Realtors 👉 https://join.homebot.ai/sponsor/368289?type=real-estate-agent

Check Our Reviews:

Residential Financing Options:

Temporary Interest Rate Buy-downs on a fixed-rate conventional | FHA | VA loans: 3-2-1, 2/1 or 1/0.

Luxury Sales & Epic Loan Options:

Commercial Financing Options:

Keep in mind we shop more than 250 residential and over 10K Commercial banks, lenders & mortgage companies to give you amazingly low rates and the largest product line in the country!

If you have any questions or if you have friends, family or clients, that are buying a home & need a mortgage or want to chat about a scenario just contact us right away:

1) 📅To schedule a time to talk with me just click here: 🔗 Schedule an Appointment with me: Click Here (pick the calendar that fits your specific situation)

2) 🏦 Apply for a mortgage now at www.ChristianPennersLoanApp.com

If you apply, please text me your full name and email address 📱561-373-0987 or

3) 📞Call me directly ☎️561-373-0987

Helping You Achieve The American Dream Of Home Ownership.

Christian Penner, CMA

President | CEO | Mortgage Broker

NMLS#368289

America’s Mortgage Solutions, Inc NMLS#2009420

Cell/SMS: 561-373-0987

Direct/efax/SMS: 561-316-6800

ChristianPenner.com/MyBusinessCard

https://g.page/TheMortgageTeam

www.AmericasMortgageSolutions.com

Christian Penner

712 U.S. Highway 1 North #300, North Palm Beach, FL 33408

Buyer Referral Hotline: (561) 316-6800

Buying Beats Renting in 22 Major U.S. Cities

September 30, 2024 by christianpenner

Buying Beats Renting in 22 Major U.S. Cities

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below):

As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.

This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. Things are moving fast, and your area might be joining these top metros soon.

You see, talking with a local real estate agent about what’s happening in your market before this happens in your ideal neighborhood could really change the game for you. It’s all about being informed by a true expert, and understanding what was out of reach before might actually be getting more affordable than you think.

Now, while this study compares monthly rent to principal and interest on a mortgage payment (not the whole monthly payment), let’s think through this. As Zillow notes, what you can’t ignore when you buy a home are things like taxes, insurance, utilities, and maintenance that should also be factored into your budget and your monthly payment.

But remember – renters pay extra fees too, like renters’ insurance, utilities, parking, and more. And while doing the math may feel like a drag, this equation could be a much more exciting one to work through today.

So, grab your calculator and your agent because the big takeaway is this: it may be time to determine if you’re in a spot to afford what you couldn’t just a few months ago.

As Orphe Divounguy, Senior Economist at Zillow, says:

“… for those who can make it work, homeownership may come with lower monthly costs and the ability to build long-term wealth in the form of home equity — something you lose out on as a renter. With mortgage rates dropping, it’s a great time to see how your affordability has changed and if it makes more sense to buy than rent.”

Whether you live in one of these budget-friendly metros where the scales have already tipped in your favor, or any town in-between, it’s time to connect with a local real estate agent to get the conversation started.

With mortgage rates coming down and more homes hitting the market, you’ll want to be ready to jump back into your search – before everyone else does.

If you’re tired of renting and ready to find out what it takes to purchase a home in our area now that the landscape may be shifting, let’s do the math together to see if buying a home makes sense for you now or sometime soon.

Buying Beats Renting in 22 Major U.S. Cities

In today’s ever-changing real estate market, making the leap from renting to buying isn’t just a matter of personal preference; it’s a strategic financial decision. Owning a home in one of America’s major cities is not only a status symbol but a smart long-term investment that promises security, Home Equity, and ultimately, wealth-building. And while renting might seem like the easier, more affordable choice at first glance, purchasing a home often provides a much more robust financial future. Here’s why buying often beats renting in 22 of the most sought-after U.S. cities.

Why Buying A Home is Better Than Renting

The allure of renting comes from its convenience, its flexibility, and the absence of long-term commitment. But the hidden truth? Renters often miss out on building Home Equity. Unlike rent payments that disappear into the abyss of a landlord’s pocket, your monthly mortgage payments build your stake in a property that’s entirely yours. Yes, with a mortgage, you’re making payments too, but each payment increases your ownership percentage. Essentially, every month, you’re building wealth, not just treading water.

Additionally, let’s not forget how home prices have steadily climbed in many U.S. markets. Imagine the potential for your home’s value to rise significantly over time, allowing you to gain even more than you paid initially. Renting, in comparison, provides no such future financial upside.

1. West Palm Beach, FL: A Hot Market for Buyers

When it comes to desirable locations, West Palm Beach is high on the list, offering a blend of urban and coastal living with a more relaxed vibe than its neighboring cities. Here, owning a home is often more affordable than renting due to favorable mortgage rates and relatively moderate home prices.

Working with a West Palm Beach mortgage broker is essential if you’re looking to secure a property in this competitive market. Brokers can help you lock in the best mortgage rates in West Palm Beach, and even assist with Affordable West Palm Beach home loans. For those new to the game, first-time home buyer loans in West Palm Beach make it even more feasible to transition from renting to owning. A savvy broker will also guide you through West Palm Beach refinancing options, so you can restructure your payments to maximize savings. If you’re looking to take the next step, local mortgage lenders in West Palm Beach provide personalized service, while West Palm Beach mortgage calculators help estimate what your monthly mortgage payments would be, making it easier than ever to compare the cost of renting versus owning.

When you invest in West Palm Beach, you’re making a smart financial move. The city’s mix of job growth, new developments, and the rising appeal of Florida’s tax benefits make it an ideal place to purchase a home.

2. Austin, TX: Where Buying Rules

In Austin, Texas, the real estate market is exploding. Known for its tech industry, music scene, and food culture, Austin attracts new residents every day. But renting in Austin is costly and is expected to get more expensive as demand continues to outstrip supply. This is why the smarter decision in Austin is to buy a home.

Mortgage rates in Austin are still quite favorable, and purchasing will give you a foothold in one of the hottest housing markets in the country. Plus, home prices here are projected to increase, making it an excellent place to build Home Equity quickly. Owning property in Austin offers long-term gains in a city that promises even greater value over time.

3. Phoenix, AZ: The Affordable Oasis

For those looking for a place where owning is not only possible but profitable, Phoenix delivers. The cost of living in Phoenix is much lower than coastal cities, and while home prices are rising, they remain more affordable than in markets like Los Angeles or San Francisco.

The Phoenix real estate market has seen tremendous growth, and monthly mortgage payments here are often lower than the average rent. Combine that with a strong job market and desirable climate, and Phoenix quickly becomes a top choice for savvy buyers looking to invest in a home.

4. Charlotte, NC: A Southern Gem for Buyers

Charlotte is another market where the cost of monthly mortgage payments often beats renting. This fast-growing city offers many job opportunities, and home prices remain relatively affordable compared to other major metros. Local lenders in Charlotte frequently offer competitive mortgage rates, which makes this city an ideal place for first-time buyers.

5. Las Vegas, NV: Betting on Home Ownership

Las Vegas is more than just the Strip—it’s becoming a great place to live, and more people are seeing the benefits of buying a home here rather than renting. Home prices in Vegas have been on the rise but remain far lower than in markets like Los Angeles or New York. That means your monthly mortgage payments can be significantly lower than rent.

Additionally, the ability to tap into growing Home Equity in such a bustling and expanding city makes buying in Las Vegas a winning bet for anyone looking to capitalize on the city’s growth.

6. Denver, CO: The Mile-High Advantage

In Denver, the housing market has been on fire for years. Renters often pay exorbitant amounts for apartments in trendy areas like LoDo and RiNo. Meanwhile, those who purchase a home here find that their mortgage payment builds value and Home Equity with every check they write. Plus, Denver’s real estate market has proven resilient and attractive to investors, making it one of the safest cities to put down roots.

7. Seattle, WA: High Prices, Higher Rewards

Seattle’s home prices are high, but that doesn’t mean renting is the better option. In fact, buying is the smarter choice for those who can swing it. The city’s booming tech economy means that more homes are being built to accommodate an influx of new residents. Buying in Seattle secures your spot in a city where property values are only headed in one direction: up.

8. Nashville, TN: Music City’s Hidden Value

Nashville has become one of the trendiest cities in the country, but rent prices are climbing quickly as more people move to the area. Buying, on the other hand, often provides better value for your money. Nashville’s home prices are still considered relatively affordable, especially compared to other major markets. Plus, the growth in the city ensures that your Home Equity will increase over time.

9. Atlanta, GA: A Booming Hub for Buyers

Atlanta offers everything from Southern hospitality to a bustling urban core, and while rents are rising fast, home prices are still manageable. Owning in Atlanta not only gets you more space for your money but allows you to enjoy growing Home Equity in one of the fastest-growing metro areas in the U.S. Mortgage rates remain favorable, making this city a prime spot for buyers.

10. Orlando, FL: More Than Theme Parks

Orlando might be famous for its theme parks, but its housing market is also attracting attention. As more people flock to Central Florida, both rents and home prices have climbed. Buying in Orlando offers more long-term value, as your mortgage payment will likely be lower than the increasing rents. Moreover, Florida’s favorable tax structure makes homeownership in this state even more appealing.

11. Tampa, FL: A Gulf Coast Gem

Tampa has become one of the fastest-growing cities in Florida. Home prices here are rising, but they remain more affordable than in Miami or Fort Lauderdale. Owning a home in Tampa means locking in today’s prices and benefiting from significant Home Equity growth in the future.

12. Dallas, TX: Big City, Bigger Benefits

Dallas has a reputation for being a big city with affordable housing, and while rents are climbing, buying a home still remains the better option. Home prices are on the rise, and buyers are locking in lower mortgage rates. This means that purchasing property in Dallas now could lead to significant Home Equity gains in the coming years.

13. Chicago, IL: Own Your Piece of the Windy City

Despite the chilly winters, Chicago’s housing market is hot. Renting in Chicago’s most desirable neighborhoods can be extremely expensive, but those who choose to purchase a home will find that their monthly mortgage payments often come out lower than rent. Moreover, home prices in Chicago are expected to appreciate, giving buyers a valuable investment.

14. San Antonio, TX: Affordable and Appealing

San Antonio remains one of the most affordable large cities in the U.S. to buy a home. Renters in this city often find that transitioning into homeownership is not only feasible but financially wise. With home prices still moderate and mortgage rates favorable, owning in San Antonio sets buyers up for Home Equity growth without breaking the bank.

15. Portland, OR: Invest in the Pacific Northwest

Portland is a city known for its unique culture and beautiful surroundings, but that comes at a cost, especially for renters. Buying in Portland, however, offers the opportunity to get ahead of skyrocketing rents while building Home Equity in one of the most vibrant cities in the Pacific Northwest.

16. Raleigh, NC: The Research Triangle’s Best Kept Secret

Raleigh, part of North Carolina’s famed Research Triangle, has been a magnet for tech workers, students, and families alike. As more people move to this vibrant and innovation-driven region, both rents and home prices have seen upward movement. However, buying a home in Raleigh remains a more financially sound decision than renting, thanks to competitive mortgage rates and the potential for excellent Home Equity growth. With Raleigh’s continued economic expansion, your home could be worth significantly more in just a few short years.

17. Houston, TX: Oil, Industry, and Opportunity

Houston is one of the few major U.S. cities where housing remains relatively affordable despite its size and economic significance. As the city continues to grow as a hub for energy, healthcare, and manufacturing, home prices have been rising steadily, but they’re still well within reach for first-time buyers. In many cases, your monthly payment on a mortgage can actually be less than rent in this sprawling metropolis. Buyers in Houston can tap into lower mortgage rates and quickly start building Home Equity in a city with a bright economic future.

18. Minneapolis, MN: The Twin Cities Advantage

Minneapolis offers a unique combination of urban convenience and natural beauty, making it an attractive destination for homebuyers. Rent prices have been climbing, but monthly mortgage payments in many areas of the city are often lower than the average rent, making homeownership a more attractive option. Home prices in Minneapolis have seen steady growth, and buyers here can expect to see their investment grow over time. Whether you’re drawn to the city’s thriving arts scene, job opportunities, or its ample green spaces, owning in Minneapolis is a smart long-term financial move.

19. Philadelphia, PA: A City Steeped in History and Homeownership

Philadelphia’s real estate market offers something for everyone, from historic homes in Old City to modern condos in Center City. Renting in Philadelphia, however, has become increasingly expensive as more people flock to the city for its cultural attractions and job opportunities. For those looking to purchase a home, mortgage rates remain favorable, and many find that their mortgage payment is more manageable than local rents. Buying in Philadelphia also allows you to benefit from Home Equity growth, especially as neighborhoods continue to be revitalized. Owning a home in this historic city ensures you’re part of its ongoing story.

20. Miami, FL: Luxury Meets Smart Investing

Miami may be known for its high-end luxury condos and breathtaking waterfront properties, but it’s also a city where owning is often better than renting, even for those on more modest budgets. While home prices in Miami can be steep, monthly mortgage payments are often more predictable and stable than skyrocketing rents. With Miami’s thriving international business scene and increasing demand for properties, buying is a smart investment, especially for those looking to capitalize on the city’s long-term growth potential. Plus, with Florida’s no state income tax and favorable property tax structure, homeownership in Miami makes even more financial sense.

21. Washington, D.C.: Invest in the Nation’s Capital

The nation’s capital offers an exciting blend of historic charm and modern innovation. However, renting in Washington, D.C. can come at a premium, especially in desirable neighborhoods like Dupont Circle, Georgetown, and Capitol Hill. Buying a home in D.C. can be a much better financial decision in the long run, as home prices in the region continue to appreciate, and monthly mortgage payments often rival the cost of rent. By owning in D.C., you not only gain a foothold in one of the country’s most dynamic cities, but you also build Home Equity that grows alongside the city’s economy.

22. New Orleans, LA: More Than Just Mardi Gras

New Orleans is famous for its culture, cuisine, and festivals, but it’s also becoming a great place to buy a home. Home prices here have remained relatively low compared to other major cities, making it a prime location for first-time buyers or those looking for an investment property. In many cases, the cost of monthly mortgage payments is significantly less than renting in some of the city’s trendiest neighborhoods. Moreover, the ability to build Home Equity in a city that’s seeing ongoing investment and revitalization projects makes buying in New Orleans a wise financial move.

The Financial Edge of Homeownership

Across the 22 cities we’ve explored, the common theme is clear: buying a home often provides more financial benefits than renting. When you rent, you’re paying for a roof over your head without any long-term return. On the other hand, when you purchase, your monthly mortgage payments contribute to Home Equity, which is essentially your personal financial asset that grows over time.

As home prices continue to rise in many parts of the country, the sooner you secure your home, the sooner you can begin reaping the benefits of appreciation and stability. Even in markets where home prices may seem daunting, today’s favorable mortgage rates make buying much more attainable than many people realize. Working with a local real estate agent and mortgage broker can help you navigate the process and secure a home that fits both your budget and your lifestyle.

The Role of West Palm Beach in the National Market

A city like West Palm Beach is a perfect example of where owning makes more sense than renting. With a vibrant real estate market, securing Affordable West Palm Beach home loans has never been more accessible. Additionally, West Palm Beach mortgage brokers can assist you in finding the best mortgage rates in West Palm Beach, ensuring your monthly payment aligns with your financial goals. Whether you’re looking for first-time home buyer loans in West Palm Beach, considering West Palm Beach refinancing options, or working with local mortgage lenders in West Palm Beach, there are plenty of resources to make homeownership in this sunny coastal city achievable. Tools like West Palm Beach mortgage calculators can help determine your mortgage preapproval in West Palm Beach and give you a clear picture of your financial landscape.

For those with business aspirations, connecting with a commercial mortgage broker in West Palm Beach is also an excellent option. The opportunities for growth in West Palm Beach’s real estate market are vast, and buying now ensures that you’ll be part of the city’s upward trajectory.

Conclusion

From West Palm Beach to Seattle, buying a home offers the kind of financial security that renting simply can’t match. Every monthly mortgage payment builds wealth, establishes roots, and provides a place to call your own. With the right approach, expert guidance, and attention to market trends, owning property in America’s top cities sets you up for long-term success.

It’s time to move from renting to owning and start building your future—one mortgage payment at a time.

Read from source: “Click Me”

Questions, Comments or For more information you can call

Christian Penner Branch Manager at 561-316-6800 or email us at TheMortgageTeam@ChristianPenner.com

Approval Hotline: 561-316-6800

Helping You Achieve the American Dream of Home Ownership

Or You can click “Call Me” below to call Christian Penner directly using Google Voice

We Specialize in All Types of Financing, Mortgage Loans and Real Estate Deals.

We have been in the Mortgage and Real Estate Business since 1997!

Connect with us on Social Media

Personal Profiles:

America’s Mortgage Solutions:

YouTube Video Playlist Links:

American Dream TV Show | Mortgage Process Steps | Homebot Videos | Traditional Loan Programs | NON-QM & Portfolio Loan Programs

HomeBot: Build more wealth with your home

Homeowners👉https://hmbt.co/nwCdmG
Homebuyers👉 https://hmbt.co/G8fMT
Realtors 👉 https://youtu.be/wXROJXQWgug
Join here Realtors 👉 https://join.homebot.ai/sponsor/368289?type=real-estate-agent

Check Our Reviews:

Residential Financing Options:

Temporary Interest Rate Buy-downs on a fixed-rate conventional | FHA | VA loans: 3-2-1, 2/1 or 1/0.

Luxury Sales & Epic Loan Options:

Commercial Financing Options:

Keep in mind we shop more than 250 residential and over 10K Commercial banks, lenders & mortgage companies to give you amazingly low rates and the largest product line in the country!

If you have any questions or if you have friends, family or clients, that are buying a home & need a mortgage or want to chat about a scenario just contact us right away:

1) 📅To schedule a time to talk with me just click here: 🔗 Schedule an Appointment with me: Click Here (pick the calendar that fits your specific situation)

2) 🏦 Apply for a mortgage now at www.ChristianPennersLoanApp.com

If you apply, please text me your full name and email address 📱561-373-0987 or

3) 📞Call me directly ☎️561-373-0987

Helping You Achieve The American Dream Of Home Ownership.

Christian Penner, CMA

President | CEO | Mortgage Broker

NMLS#368289

America’s Mortgage Solutions, Inc NMLS#2009420

Cell/SMS: 561-373-0987

Direct/efax/SMS: 561-316-6800

ChristianPenner.com/MyBusinessCard

https://g.page/TheMortgageTeam

www.AmericasMortgageSolutions.com

Christian Penner

712 U.S. Highway 1 North #300, North Palm Beach, FL 33408

Buyer Referral Hotline: (561) 316-6800

Joel Aratare

15:56 08 Feb 24

America mortgage solutions is amazing! Christian Penner and his assistant, Andrea make the mortgage process easy. If you’re looking for the good guys and a team with all your mortgage solutions! Call them today!

Tiago Lopes

18:07 28 Jul 23

As a first time homeowner, Christian Penner made the whole process very easy. He was always available to answer my questions and help with any problems i had. If you’re looking for a mortgage company, I highly recommend America’s Mortgage Solutions. I will definitely use them again and tell all my friends about them

Max Lipton

22:49 24 Jul 23

Christian helped me tremendously through the process of purchasing my home and helping me secure a mortgage. His team has also stayed in contact with useful tools for a homeowner that have really helped me understand my home. The Homebot App is also an extremely helpful tool that has also helped me to make the decision as to when I should consider selling as well.

Lauren W

01:39 19 Jan 23

I'm not the type of person who takes the time to leave reviews, but I truly felt the need to leave one for Christian and his team. This is the hardest working group of professionals that I've encountered in my 14+ years of living in South Florida. I truly thought that I had landed on the best mortgage product available after talking to several different mortgage companies. That is, until I met Christian. I politely told him to get lost but he patiently explained how he could save me money. I was skeptical at first, but he delivered everything he promised and more. His service did not end after the closing. I recently reached out to him for advice and he once again delivered a great solution. Thank you, Christian, I look forward to doing business with you again.

Kevin Coumes

00:39 02 Jun 22

Christian Penner and his team are remarkable! True professionals at their best! I will always use Christian and his team for all of my lender needs in South Florida - period.Marni, Andrea, and Christian are experts at what they do! Call Christian and his team for trusted and expertise that you need when financing real estate!

Brian Sharkey

14:35 22 Sep 21

When you need a local lender as the customer it is important to look for someone who can be organized and prepared for any local issues that can ruin a deal, know the community and how to get you funded on time. Meet Marni from Christian Penner Group for an amazing experience. I recommend you contact her she will call you back shortly.

Jeffrey Zananiri

12:55 14 May 21

Christian and his team provided a stress free, white glove service. Highly recommend.

Jack Dixon

18:06 01 Apr 21

Working with Chris + team was incredible! They reduced our anxiety and stress levels, were tolerant and patient throughout the entire process, and got the deal done in breakneck speed. We're extremely happy in our new home. Highly recommended!

Kathy Letourneau

22:42 14 Feb 21

Beverly Boyett was my representative and she went above and beyond in assisting me with my Refi. She DID what she said she would do... and MORE! Can't express how kind, efficient and knowledge she was. I will definately go back to Hamilton in the future with any home financing needs.

Anthony Messina

22:25 12 Feb 21

Americas mortgage solutions does such an amazing job . Christian and his staff make refinancing about as seamless as it can be . They stay in contact with you if you need a question answered a fast reply is always there. Submitting all the forms was very easy also. They do whatever it takes to make sure your needs and concerns are met. Your name is always mentioned when I hear people talk about a mortgage .so thanks Christian, Becky , Kirstin and Diana sorry if I missed anyone ! for all your help in addressing my concerns AWESOME TEAM !!!

Jordan Volgs And More

15:00 03 Feb 21

If you are having difficulty getting a good deal on a mortgage, I would highly suggest that you contact ‘Christian and his amazing team. They will simply get things done that other companies cannot. And to top it off, his team makes it an absolute priority to get the deal done on time. Do not hesitate to contact Christian.