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Why Buying Now May Be Worth It in the Long Run

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Why Buying Now May Be Worth It in the Long Run

Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll want to consider as you make your decision.

As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate home price appreciation.

Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home prices over the next five years. In the latest release, experts project prices will continue to rise nationally through at least 2028 (see the graph below):

No Caption ReceivedWhile home prices are going to vary from one local area to the next, this shows they’re expected to keep going up nationally. The size of the increase varies from year-to-year, but the important takeaway is that prices are forecast to rise every single year – just at a moderate pace.

And while rising home prices may not sound great right now, once you own a home, that growth will be a big bonus for you. Here’s a look at what you stand to gain equity-wise once you buy. The graph below uses a typical home’s value and those HPES projections to show how much equity is at stake:

No Caption ReceivedIf you bought a $450,000 home at the beginning of this year, based on that starting value and the expert forecasts from the HPES, you could gain more than $90,000 in household wealth over the next five years. That’s significant.

So, if you’re ready and able to buy, and growing your wealth is important to you, you’ve got an opportunity in front of you. And now that mortgage rates have fallen, it may be time to consider making a move.

To talk more about your options and what makes sense, lean on a pro. They’ll be able to tell you what home prices are doing in your area and what that means for your move (and your future equity). The Mortgage Reports says:

“Given the intricacies of the current market, it’s more important than ever to stay informed and up to date about housing market conditions. Whether you’re looking to buy or sell in the remaining months of 2024, having a professional guide you through the process can make all the difference.” 

The decision to buy now or wait is a very personal one, but it’s valuable to have an expert’s perspective. They won’t push you, but they will explain things you may not have considered, like the equity that’s at stake.

If you want help weighing your options and thinking through how the current market factors in, let’s connect.

Why Buying Now May Be Worth It in the Long Run

There’s a lot of noise in the real estate world, and whether you’re casually exploring or actively hunting for your dream home, you’ve probably heard both sides of the argument: “Wait for prices to drop” or “Buy a home now before it’s too late.” But let’s cut through the chatter for a moment and explore why buying now may be worth it in the long run. For many, the decision isn’t just about today’s numbers; it’s about your future, your wealth, and the investment you make in your life when you decide to own property.

The Current Market May Be Unpredictable, But Your Future Gains Could Be Huge

It’s true that the current market can feel like a rollercoaster. There’s a push-pull between rising and falling home prices, fluctuating mortgage rates, and headlines that can drive any potential buyer to second-guess their decisions. However, here’s the important thing: while today’s numbers might make you nervous, real estate has historically been one of the safest investments you can make. In the grand scope of time, home price appreciation tends to rise steadily. That means if you’re willing to buy into the market now, there’s a strong chance you’ll gain equity-wise once you buy. Equity builds wealth. Plain and simple.

The Power of Long-Term Equity Gains

Let’s break it down. If you buy a home today, even with seemingly high home prices, over the years, your home’s value is likely to appreciate. Think of it this way: the money you put into your mortgage is an investment into your future. Every payment chips away at the loan while simultaneously growing your stake in the property. After a decade, you might look back and realize how much value your home has accrued compared to the price you originally paid. That’s the magic of long-term real estate investment.

The Home Price Expectations Survey shows that over time, housing values have steadily increased, regardless of market volatility. Real estate is unlike stocks; it’s a tangible asset that provides security and longevity. So even when the market feels intimidating, the long-term trends tell a story of growth and stability. For those who are on the fence, the key is in understanding that short-term fluctuations won’t erode the long-term potential for appreciation and equity-building.

Mortgage Rates: Why Timing Is Everything

Let’s talk mortgage rates. It’s no secret that mortgage rates fluctuate—sometimes dramatically. And yes, if you snag a low rate, you save money over the life of the loan. But here’s the catch: waiting for the “perfect” rate can mean missing out on great homes and great opportunities.

Right now, West Palm Beach mortgage brokers are working overtime to help buyers find competitive rates despite the unpredictable market. Whether you’re exploring affordable West Palm Beach home loans or hunting for the best mortgage rates in West Palm Beach, the advice remains consistent: don’t sit on the sidelines waiting for rates to drop a quarter of a percent. Instead, take the opportunity to start gaining equity. The earlier you buy, the faster you’ll start building wealth, even if the interest rate isn’t at its absolute lowest. Plus, as real estate experts will tell you, you can always refinance later when rates improve.

Refinancing: Your Future Secret Weapon

One thing many buyers overlook is the power of refinancing. Let’s say you’re a first-time home buyer in West Palm Beach and you’ve found the home of your dreams. Even if the mortgage rate isn’t ideal today, there’s no reason to hesitate. Securing your home now could mean huge savings later when rates decrease. West Palm Beach refinancing options give homeowners the flexibility to lower their payments in the future, essentially restructuring their loan for better terms.

This is where local mortgage lenders in West Palm Beach really shine—they offer personalized advice and insights into your specific financial situation. And with a growing number of tools available, such as West Palm Beach mortgage calculators, you can easily figure out your future payments, potential savings, and how much faster you’ll build equity by making smart refinancing moves.

The West Palm Beach Housing Market: A Gem for Savvy Buyers

Speaking of West Palm Beach, the local housing market is nothing short of dynamic. The region offers a mix of investment potential and lifestyle appeal that’s hard to match. Whether you’re buying your first home or looking to move up, West Palm Beach mortgage brokers are ready to help you navigate the landscape. The beauty of this market is that it’s growing—and fast. As more people move to South Florida, the demand for homes continues to rise, making it a great time for those looking to buy property.

With a growing population and a limited housing supply, home price appreciation in West Palm Beach has shown strong trends. Home prices in this area are expected to continue their upward trajectory. By buying now, you’re positioning yourself to benefit from that appreciation over the long haul.

For those considering commercial mortgage brokers in West Palm Beach, the market is equally enticing. As businesses flock to the area, demand for commercial spaces is surging. Whether you’re looking at residential or commercial properties, now is an opportune time to make your move.

First-Time Buyers: Why It’s Smart to Jump In Now

If you’re a first-time home buyer in West Palm Beach, you might be asking yourself: Is it really the right time for me to buy? The answer might surprise you. The truth is, buying now may be worth it because even as a first-time buyer, you’re gaining access to the appreciation potential that more experienced homeowners already know about. As you build your life in your new home, you’ll also be building wealth as home prices continue to climb.

And with so many first-time home buyer loans in West Palm Beach tailored to meet your needs, the financial barriers aren’t as steep as you might think. There are specialized loan programs that cater to first-timers, offering lower down payments and other perks. On top of that, mortgage preapproval in West Palm Beach is simpler than ever, with experts helping you through each step of the process. With the right lender and loan, you could be surprised at how quickly you can secure your place in the market.

Investment Potential: Look Beyond the Short-Term

When deciding to buy, many people make the mistake of focusing too much on immediate gains or short-term changes in the market. The smart approach is to consider the long-term trajectory of your investment. Historically, home price appreciation consistently outpaces inflation and provides a solid return on investment.

Even in a current market that feels uncertain, homeownership remains a cornerstone of wealth-building. The longer you wait, the more you risk missing out on the equity and appreciation that could be yours.

Affordability: Why Waiting Could Cost You More

Another key reason why buying now may be worth it? Affordability is only getting tougher as home prices continue to rise. If you wait, you may find yourself priced out of the neighborhood or type of home you really want. As home prices climb, so do down payments and monthly mortgage costs. By jumping in now, even if prices seem steep, you lock in your price and secure your place in a market that’s moving upward.

This is especially true in markets like West Palm Beach, where demand is high and supply is limited. West Palm Beach mortgage brokers are seeing an influx of buyers looking to lock in rates and secure their homes before prices rise further. Now is the time to act if you want to secure your financial future.

Personalized Support for West Palm Beach Buyers

Navigating the mortgage landscape can feel overwhelming, but that’s where local mortgage lenders in West Palm Beach and brokers come in. Their local expertise means they understand the nuances of the West Palm Beach market better than anyone. They can provide tailored property loan advice in West Palm Beach based on your individual financial circumstances, helping you find the best loan products to meet your needs.

Whether you’re comparing West Palm Beach mortgage calculators to explore your monthly payments or getting advice from a West Palm Beach mortgage broker about the best loan products available, the resources at your disposal make it easier than ever to buy now and set yourself up for long-term success.

Closing Thoughts: Think Long-Term, Think Equity

If you’ve been on the fence about buying a home, now is the time to take the plunge. Buying now may be worth it for a variety of reasons: you’ll lock in your home’s value, start building equity immediately, and position yourself to benefit from future home price appreciation. In a housing market as dynamic as West Palm Beach, waiting too long could mean missing out on significant financial gains.

And remember, with resources like West Palm Beach mortgage brokers, affordable West Palm Beach home loans, and first-time home buyer loans, the path to homeownership has never been more accessible. Don’t let market uncertainty hold you back. The long-term benefits of buying now far outweigh the temporary ups and downs.

The Role of Inflation and Real Estate as a Hedge

One aspect that is often overlooked in real estate conversations is the relationship between property ownership and inflation. Over time, inflation can erode the purchasing power of money, making everyday items and services more expensive. However, real estate has historically served as a hedge against inflation, meaning that the value of homes tends to rise alongside or even exceed inflation rates.

When you own a home, you’re safeguarding your wealth in a way that renting simply cannot provide. Rent prices will continue to rise with inflation, but your mortgage payment stays consistent if you have a fixed-rate loan. This is one of the reasons why buying now may be worth it—you’re essentially protecting your future self from rising housing costs, while your home appreciates in value and your equity builds.

Imagine this scenario: five years from now, as inflation pushes rental prices higher and higher, you’ll be grateful for locking in a mortgage payment today. Not only will your payment remain predictable, but your home’s value will likely have increased, allowing you to gain equity-wise and grow your financial cushion.

The Importance of Starting Early: Compound Benefits of Home Equity

One of the greatest benefits of buying a home sooner rather than later is the way equity builds over time. Real estate operates on what can be thought of as a compounding principle. Each mortgage payment you make doesn’t just reduce your loan balance—it also increases the amount of equity you hold in your home. Equity is essentially your share of the property’s value, and the earlier you begin, the faster that equity snowball grows.

Think about it: if you buy today, even with higher home prices or a slightly elevated interest rate, the long-term benefit is that you’re starting to build equity now, not later. With each passing month, you’re paying off more of your principal balance, and as your home appreciates in value, your equity gains double in strength. This is something renters miss out on completely.

The more equity you have, the more financial options you have. You can borrow against your home’s value, use that equity to fund other investments, or simply enjoy the security of knowing that your property is a valuable asset that’s working for you. And if you decide to sell your home in the future, the equity you’ve built could provide you with significant profit, giving you flexibility in your next move—whether that’s upgrading to a larger home or downsizing to something more manageable.

The Emotional Investment: More Than Just a Transaction

Let’s not forget one of the less tangible yet deeply significant reasons to buy a home: the emotional investment. Owning a home isn’t just about financial gain; it’s about having a place that’s truly yours—a sanctuary where memories are made, families are raised, and lives are lived. The sense of pride and stability that comes from homeownership is something that can’t be quantified by numbers or market trends.

When you buy a home now, you’re investing in your lifestyle, your future, and your personal well-being. The ability to customize your space, build lasting relationships in your community, and create a sense of permanence is something renters often long for but don’t have. Owning your own home gives you the freedom to make your mark—whether it’s planting a garden, renovating the kitchen, or simply knowing that the place you live is truly yours.

West Palm Beach: A Market With Unique Appeal

While we’ve covered general reasons why buying now may be worth it, it’s important to highlight why the West Palm Beach area stands out as a prime location to invest in real estate. South Florida, and especially West Palm Beach, has a unique allure that attracts a diverse population—from young professionals to retirees and everyone in between.

The city’s beautiful beaches, vibrant culture, and strong job market make it a desirable place to live, which directly impacts the demand for housing. As more people flock to this region, the housing market tightens, creating a strong potential for home price appreciation. Whether you’re purchasing a family home, a vacation property, or even looking into commercial mortgage brokers in West Palm Beach for an investment property, the future looks bright.

Local experts, including West Palm Beach mortgage brokers and local mortgage lenders in West Palm Beach, are keenly aware of the region’s growth trends. They’re equipped to help you find affordable West Palm Beach home loans that fit your budget while also considering future growth and appreciation. The key takeaway here? West Palm Beach is a growing market, and getting in early could mean reaping the rewards in the years to come.

Commercial Real Estate: The Hidden Gem for Long-Term Investors

While residential properties often get the most attention, don’t overlook the potential of commercial real estate in West Palm Beach. As the city continues to grow and more businesses set up shop, commercial properties can be an excellent long-term investment. If you’re a savvy investor or business owner, working with a commercial mortgage broker in West Palm Beach can open doors to a lucrative segment of the real estate market.

The demand for office spaces, retail locations, and industrial properties is only expected to increase as the city develops. By purchasing a commercial property now, you’re positioning yourself to benefit from future growth and the rental income that comes with leasing out commercial spaces. Plus, similar to residential properties, commercial real estate tends to appreciate over time, providing you with both immediate and long-term gains.

Why Local Expertise Matters

Navigating the complexities of the real estate market can be daunting, especially in a competitive area like West Palm Beach. That’s why working with local experts—whether it’s West Palm Beach mortgage brokers, property loan advisors in West Palm Beach, or local mortgage lenders in West Palm Beach—is invaluable. These professionals understand the nuances of the local market and can provide you with tailored advice and options that national lenders might not offer.

For instance, if you’re looking for the best mortgage rates in West Palm Beach or trying to secure first-time home buyer loans in West Palm Beach, local brokers have access to specific loan programs that are designed for buyers in this area. They can help you navigate the intricacies of mortgage preapproval in West Palm Beach and find the financing solution that works best for your needs. Their guidance can make the process smoother and more efficient, ensuring that you’re in the best possible position when you decide to make your purchase.

Final Thoughts: Why Buying Now Is a Future-Proof Decision

The decision to buy a home is always a big one, but when you weigh the pros and cons, it becomes clear that buying now may be worth it—especially in the long run. Whether you’re enticed by the financial benefits of gaining equity and home price appreciation or motivated by the emotional and lifestyle rewards of homeownership, the benefits far outweigh the risks.

If you’re thinking about the current market, don’t let short-term uncertainties deter you. Real estate is a long game, and the sooner you get in, the better off you’ll be. With rising home prices, competitive mortgage rates, and the unique appeal of regions like West Palm Beach, there’s never been a better time to secure your future. So, if you’ve been asking yourself whether now is the right time, the answer is clear: don’t wait. Take advantage of today’s opportunities and start building your future wealth and stability.

The West Palm Beach market is booming, and with the right support—from West Palm Beach mortgage brokers to local mortgage lenders in West Palm Beach—you can make a savvy investment that will pay dividends for years to come. Whether you’re a first-time home buyer or a seasoned investor, the time to buy is now. Secure your place in a thriving market, and enjoy the peace of mind that comes from knowing you’ve made a decision that will benefit you for decades to come.

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The Down Payment Assistance You Didn’t Know About

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The Down Payment Assistance You Didn’t Know About

Believe it or not, almost 80% of first-time homebuyers qualify for down payment assistance, but only 13% actually use it. And if you’re hoping to buy a home, this is a mission-critical gap to close – fast (see graph below):

No Caption ReceivedHere’s what you need to know to make the most of your down payment in today’s housing market.

Amplify Your Down Payment Potential

For first-time buyers, the name of the game with down payments is making sure you’re taking advantage of all the resources out there designed to help you. And a bunch of them can get you to your goal faster than you may have thought possible.

For example, there are loan options that require as little as 3% down, or even 0% for certain qualified borrowers, like Veterans. And let’s not forget down payment assistance, like grants and other opportunities, that help you cover the upfront cost of your down payment.

If you’re interested in exploring those options and what you may be able to use to your advantage, connect with a trusted lender. Because if you don’t at least see what’s available, you could be leaving money on the table and missing your chance at buying a home. These resources can boost your down payment. And a higher down payment could help lower your eventual monthly mortgage payment, and even avoid or reduce your fees like private mortgage insurance.

Don’t Let News Headlines About Down Payments Scare You

There’s one more thing to address. News coverage has been talking about how the typical down payment is rising. A report from Redfin states:

“The typical down payment for U.S. homebuyers hit a record high of $67,500 in June, up 14.8% from $58,788 a year earlier . . . This was the 12th consecutive month the median down payment rose year over year.”

But don’t let those high dollars scare you. Just because the average down payment is rising doesn’t mean down payment requirements are going up. That’s a key piece of the puzzle to understand. It’s really just because people are choosing to put more down to try to offset higher mortgage rates, and current homeowners who are putting their equity to work are using that to increase their down payment on their next home. As HousingWire explains:

“. . . buyers are putting down a higher percentage of the purchase price to lower their monthly mortgage payment. And buyers also had more equity from their home sales, which gives them more cushion.”

Let’s break those two reasons down a bit:

1. A bigger down payment helps lower your monthly mortgage payment. Affordability has been a challenge for many buyers recently, which is why those who have the ability to make a bigger down payment are going to do so in an effort to lower their future housing costs.

2. Buyers who already own a home have a record amount of equity to leverage. Someone who bought a home a few years ago has gained a significant amount of value in their house, thanks to home price appreciation. These people can put down much more than the average first-time buyer who hasn’t owned a home yet.

What’s the best thing to do? Talk with a trusted lender about your options. They’ll help you figure out where you stand today and how to access the resources you may qualify for. Because help is out there, you just need to work with a pro to take advantage of it.

The Down Payment Assistance You Didn’t Know About

In today’s housing market, the dream to buy a home can feel out of reach for many, especially for first-time homebuyers. There’s no denying that home prices have skyrocketed in the last few years, leaving many potential buyers wondering if they’ll ever manage to scrape together enough savings for a down payment. But here’s the thing: what if the down payment you think is an unscalable mountain is more like a small hill? There’s an abundance of down payment assistance programs available, many of which go unnoticed. These programs could be the key to finally getting the keys to your dream home.

Let’s dig into the world of down payment assistance and uncover some hidden gems that could help you buy a home faster than you ever imagined. Whether you’re a first-time buyer, looking to own a home after years of renting, or even if you’ve owned a home before but are returning to the market, this guide will open your eyes to the myriad of opportunities available.

Down Payment Assistance: A Game-Changer You Never Knew Existed

Let’s start with the basics: What is down payment assistance? It’s essentially financial help offered to potential homebuyers to reduce or cover the initial payment needed to secure a mortgage. That first payment can be daunting, but with the right assistance, you could find yourself on the fast track to own a home.

There are a variety of programs, both national and local, designed to help with down payments. From federal initiatives to community-based grants, these programs offer a lifeline, particularly to first-time buyers who may not have the benefit of equity to leverage from a previous home.

1. Federal Assistance Programs

The federal government offers a number of programs aimed at helping buyers, especially first-time homebuyers and veterans. If you’re a veteran, you may already be familiar with VA loans, which require zero down payment. However, even if you’re not eligible for a VA loan, there are many other federal programs that can assist you in making your dream of homeownership a reality.

One of the most well-known is the FHA loan, which allows buyers to put down as little as 3.5%. Combine this with down payment assistance, and you could significantly reduce the amount of cash you need upfront. Other federal options include USDA loans for rural homes and HUD’s Good Neighbor Next Door program for teachers, police officers, and firefighters. These programs aren’t just financial shortcuts; they are pathways to buying a home with less strain on your wallet.

2. State and Local Programs: Hidden Gems

While federal programs are invaluable, they’re not the only game in town. Many state and local governments also offer down payment assistance programs that are often overlooked. For example, the city of West Palm Beach offers a range of initiatives that can make buying a home more affordable.

Imagine securing an affordable West Palm Beach home loan with the help of the city itself! Many municipalities have set aside funds specifically to help low-to-moderate-income buyers who are struggling to save enough for a down payment. These funds can come in the form of grants or low-interest loans, and in some cases, they don’t even need to be repaid as long as you meet certain criteria, such as staying in the home for a specified period of time.

Programs like these provide invaluable property loan advice in West Palm Beach, giving you access to resources you may not have known existed. The key to tapping into these benefits is connecting with a trusted lender or a local mortgage lender in West Palm Beach who understands the intricacies of these programs.

The Role of Lenders and Mortgage Brokers

Speaking of lenders, this is where things get interesting. Connecting with a trusted lender is essential because not every lender is versed in the nuances of down payment assistance programs. Some lenders specialize in working with first-time buyers and veterans, while others may be more attuned to specific local programs like those available in West Palm Beach.

For example, if you’re looking for first-time homebuyer loans in West Palm Beach, working with a West Palm Beach mortgage broker can help you navigate the maze of available options. Brokers can help you find the best mortgage rates in West Palm Beach, ensure you’re maximizing any potential grants or loans, and help you understand your eligibility for these opportunities.

A West Palm Beach mortgage calculator can also be your best friend during this process, allowing you to understand the financial implications of different loan structures and down payment amounts. Understanding how much home you can afford, what your monthly mortgage payment might look like, and what kind of loan options you qualify for can be game-changing.

Equity: A Double-Edged Sword

Homeownership isn’t just about finding a place to live; it’s about building equity to leverage later. The earlier you enter the market, the more likely you are to benefit from home price appreciation. However, the reverse is also true. Those who bought homes during periods of lower prices have had more equity to lean on when they move or refinance.

This is why down payment assistance is so crucial. It allows buyers to enter the market earlier than they might otherwise be able to, giving them a chance to build equity over time. That equity can then be used in the future to finance upgrades, buy a second home, or even fund retirement.

Beyond Down Payment: Other Costs to Consider

While down payment assistance can ease the upfront costs of buying a home, it’s important to remember that there are other expenses that come into play. One of these is private mortgage insurance (PMI). This insurance is typically required if you put down less than 20% of the home’s value, and while it protects the lender, it’s an additional monthly cost for the homeowner.

If you’re considering affordable West Palm Beach home loans, working with your West Palm Beach mortgage broker to explore West Palm Beach refinancing options down the line could help you eliminate PMI once you’ve built up enough equity.

Don’t Forget Pre-Approval

If you’re serious about buying a home, it’s crucial to get mortgage preapproval in West Palm Beach. A preapproval lets sellers know you’re a serious buyer and gives you a competitive edge in a hot market. When you work with a local mortgage lender in West Palm Beach, they can guide you through the preapproval process and help you understand exactly how much home you can afford based on your financial situation.

Commercial Property Loans: A Different Beast

If you’re looking beyond residential real estate, perhaps venturing into the world of investment properties or commercial real estate, the process looks a bit different. A commercial mortgage broker in West Palm Beach can be your best ally in finding the right financing for these larger and often more complex transactions. Commercial mortgages generally come with different terms and requirements, including a larger down payment, so down payment assistance might not be as prevalent here. However, working with the right broker ensures you’re exploring all possible avenues for financing.

Veterans: Special Programs Just for You

For veterans, the VA loan program is one of the best tools in your arsenal when it comes to buying a home. VA loans offer zero down payment options and come with favorable terms, making them one of the most accessible types of home loans. If you’re a veteran in the West Palm Beach area, connect with a trusted lender who has experience working with VA loans and who can walk you through the application process. The combination of your VA benefits and down payment assistance programs can make the dream of homeownership more attainable than ever before.

The Bottom Line: Assistance Is Out There

Many people are surprised to discover just how much down payment assistance is available. Whether you’re a first-time homebuyer or you’ve owned a home in the past, there are programs designed to help you. The key is doing your research and connecting with a trusted lender who understands the ins and outs of these programs. Whether you’re in West Palm Beach or anywhere else in the country, the support is there—you just have to find it.

So, if you’re feeling discouraged by the thought of saving up for that daunting down payment, remember that you don’t have to go it alone. With the right guidance, the right programs, and the right lender, buying a home can be much more achievable than you ever imagined. It’s time to start your journey toward homeownership and find out what down payment assistance programs are available to you. The home of your dreams is closer than you think—don’t let the down payment be the thing that holds you back. Connect with a trusted lender today and discover how you can start building your future!

How to Find the Right Down Payment Assistance Program

Now that you’re aware of down payment assistance programs, the next step is finding the one that fits your unique situation. There isn’t a one-size-fits-all solution, and that’s the beauty of it—there are a variety of programs tailored to different types of buyers, income levels, and geographic areas. Whether you’re a first-time buyer, a veteran, or someone who’s simply looking for an affordable West Palm Beach home loan, here’s how you can begin your search.

1. Start Local: Community-Based Programs

Many cities and counties, including West Palm Beach, have their own down payment assistance programs. These local initiatives are often funded by grants from state or federal agencies, but they are managed at the community level, which means they’re designed with local buyers in mind.

A West Palm Beach mortgage broker can be instrumental in helping you identify which local programs you qualify for. They’ll not only connect you with the best loan options but can also help navigate the paperwork and requirements of these programs.

Local programs often offer advantages such as:

  • Forgivable loans: These loans are often forgiven if you live in the home for a set number of years, essentially turning them into free money.
  • Grants: Unlike loans, grants don’t need to be repaid and can cover both down payment and closing costs.
  • Reduced interest rates: Some programs offer special mortgage terms to help keep your monthly payments lower.

For example, if you’re exploring first-time homebuyer loans in West Palm Beach, a broker who understands the area can guide you to programs that make buying a home less financially overwhelming.

2. Look into Statewide Programs

Each state in the U.S. has its own set of down payment assistance programs, designed to help residents achieve homeownership. Florida is no exception. The Florida Housing Finance Corporation, for instance, provides down payment assistance to qualified buyers through its Homeownership Assistance Program (HAP). This initiative is targeted specifically toward low-to-moderate-income buyers, including first-time homebuyers.

Florida’s programs may offer:

  • Low-interest second mortgages to help cover the down payment.
  • Deferred payment options, meaning you don’t have to pay back the assistance until you sell the home.
  • Programs designed specifically for certain professions, such as teachers or healthcare workers.

If you’re living in or around West Palm Beach, reaching out to a local mortgage lender in West Palm Beach who understands these statewide offerings can save you both time and money. They can also point you in the direction of other benefits you might be missing out on.

3. National Programs: A Broader Safety Net

For those who don’t qualify for local or state-specific aid, national programs can offer another layer of support. These programs are often backed by federal funding and are available to homebuyers across the country. The best-known national programs include:

  • FHA Loans: With lower credit score requirements and a 3.5% down payment, FHA loans are a popular choice for first-time buyers. They are often paired with down payment assistance programs to reduce upfront costs even further.
  • VA Loans: As mentioned earlier, VA loans are available to veterans and offer zero down payment options, which can make buying a home much more accessible.
  • USDA Loans: Available to buyers in rural areas, these loans can offer 100% financing, meaning no down payment is required. It’s a fantastic option if you’re looking to buy outside urban hubs like West Palm Beach.

Pairing these national programs with local assistance can maximize your benefits, making the road to homeownership smoother.

4. Employer-Based Assistance

In some cases, your employer might offer down payment assistance as part of their benefits package. Larger companies and organizations often provide housing assistance as a way to attract and retain employees. This is particularly common in industries like healthcare, education, and public safety.

Imagine, for example, that you’re a teacher in the West Palm Beach area. By leveraging both employer-based assistance and a program like Florida’s HAP, you could greatly reduce the financial burden of buying a home.

5. Specialized Programs for Veterans

For veterans, the options are even broader. In addition to VA loans, many states and communities offer additional benefits to help veterans achieve homeownership. In Florida, for example, veterans may qualify for down payment assistance through local and state programs aimed specifically at military members and their families.

Additionally, many mortgage brokers and lenders, including those in West Palm Beach, have a deep understanding of these programs. Working with a broker who specializes in West Palm Beach refinancing options or veteran home loans can help you get the most out of the benefits available to you.

6. Low-Interest Loans: An Alternative to Grants

Not all down payment assistance comes in the form of grants. In many cases, assistance is offered in the form of low-interest or deferred-payment loans. These loans are designed to help with the initial costs of homeownership but come with favorable repayment terms that won’t break the bank.

These loans often have:

  • Deferred payments: You won’t have to start paying back the loan until you sell the house or refinance.
  • Low or no interest: These loans are often much more affordable than private loans, making it easier to manage your monthly payments.

This can be especially helpful if you’re looking to settle down in an area like West Palm Beach, where home prices have been steadily rising. Combining down payment assistance with favorable loan terms can reduce the impact of home price appreciation and keep your housing costs within your budget.

The Power of Homeownership

The ability to buy a home is more than just a financial transaction; it’s about investing in your future. Homeownership has long been one of the most powerful ways to build wealth, and down payment assistance programs play a vital role in making that investment accessible to more people.

One of the biggest advantages of owning a home is the opportunity to build equity to leverage in the future. As your home appreciates in value, your equity grows. This equity can be tapped into for future needs, whether it’s paying for college, funding home improvements, or using it as a down payment on your next home.

For those who have owned a home before and had more equity, entering the market again with the help of down payment assistance can allow them to move into a new property with even better financial stability.

And let’s not forget the emotional and psychological benefits of homeownership. There’s nothing quite like the feeling of having a place to call your own—a place where you can put down roots, create memories, and truly thrive.

Get Pre-Approved: Your First Step Toward Homeownership

If you’re feeling ready to take the leap and explore buying a home, your first move should be getting mortgage preapproval in West Palm Beach. Not only does this show sellers that you’re serious, but it also helps you understand exactly what you can afford, including how much assistance you’ll need for the down payment.

Working with a West Palm Beach mortgage broker can expedite this process, as they have the local knowledge and connections to get you pre-approved quickly. They’ll also introduce you to West Palm Beach mortgage calculators, which are invaluable tools in assessing what your monthly mortgage payment will be based on various down payment scenarios.

Refinancing Options: Maximizing Your Equity

Once you’ve purchased your home, the journey doesn’t stop there. Over time, as you build equity, you might want to explore West Palm Beach refinancing options to take advantage of lower interest rates or to access some of that equity for other investments.

Refinancing can also help you eliminate private mortgage insurance (PMI), which is often required when your down payment is less than 20% of the home’s value. Once you’ve built up sufficient equity, working with your lender to refinance could save you hundreds of dollars a month by removing the PMI requirement.

Your Path to Homeownership Awaits

It’s easy to feel overwhelmed by the idea of saving for a down payment, especially in today’s housing market, where prices seem to be rising faster than ever. But remember: help is available. Down payment assistance programs are designed to bridge the gap between renting and owning, allowing more people to step onto the property ladder.

Whether you’re a first-time homebuyer, a veteran, or someone returning to the market, there’s a program out there that can help you make buying a home a reality. From affordable West Palm Beach home loans to national grants, the resources are plentiful—you just need to take the first step.

So, what are you waiting for? Reach out to a West Palm Beach mortgage broker, connect with a trusted lender, and discover the wealth of loan options and down payment assistance programs available to you. Your dream of homeownership is closer than you think.

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Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008

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Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008

Even if you didn’t own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then. As Business Insider says:

“Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond.”

Here’s why experts are so confident. For the market (and home prices) to crash, there would have to be too many houses for sale, but the data doesn’t show that’s happening. Right now, there’s an undersupply, not an oversupply like the last time – and that’s true even with the inventory growth we’ve seen this year. You see, the housing supply comes from three main sources:

And if we look at those three main sources of inventory, you’ll see it’s clear this isn’t like 2008.

Homeowners Deciding To Sell Their Houses

Although the supply of existing (previously owned) homes is up compared to this time last year, it’s still low overall. And while this varies by local market, nationally, the current months’ supply is well below the norm, and even further below what we saw during the crash. The graph below shows this more clearly.

If you look at the latest data (shown in green), compared to 2008 (shown in red), we only have about a third of that available inventory today. No Caption Received

So, what does this mean? There just aren’t enough homes available to make values drop. To have a repeat of 2008, there’d need to be a lot more people selling their houses with very few buyers, and that’s not the case right now.

New Home Construction

People are also talking a lot about what’s going on with newly built houses these days, and that might make you wonder if homebuilders are overdoing it. Even though new homes make up a larger percentage of the total inventory than the norm, there’s no need for alarm. Here’s why.

The graph below uses data from the Census to show the number of new houses built over the last 52 years. The orange on the graph shows the overbuilding that happened in the lead-up to the crash. And, if you look at the red in the graph, you’ll see that builders have been underbuilding pretty consistently since then: No Caption Received

There’s just too much of a gap to make up. Builders aren’t overbuilding today, they’re catching up. A recent article from Bankrate says:

“What’s more, builders remember the Great Recession all too well, and they’ve been cautious about their pace of construction. The result is an ongoing shortage of homes for sale.”

Distressed Properties (Foreclosures and Short Sales)

The last place inventory can come from is distressed properties, including short sales and foreclosures. During the housing crisis, there was a flood of foreclosures due to lending standards that allowed many people to get a home loan they couldn’t truly afford.

Today, lending standards are much tighter, resulting in more qualified buyers and far fewer foreclosures. The graph below uses data from ATTOM to show how things have changed since the housing crash: No Caption Received

This graph makes it clear that as lending standards got tighter and buyers became more qualified, the number of foreclosures started to go down. And in 2020 and 2021, the combination of a moratorium on foreclosures (shown in black) and the forbearance program helped prevent a repeat of the wave of foreclosures we saw when the market crashed.

While you may see headlines that foreclosure volume is ticking up – remember, that’s only compared to recent years when very few foreclosures happened. We’re still below the normal level we’d see in a typical year.

What This Means for You

Inventory levels aren’t anywhere near where they’d need to be for prices to drop significantly and the housing market to crash. As Forbes explains:

“As already-high home prices continue trending upward, you may be concerned that we’re in a bubble ready to pop. However, the likelihood of a housing market crash—a rapid drop in unsustainably highhome prices due to waning demand—remains low for 2024.”

Mark Fleming, Chief Economist at First American, points to the laws of supply and demand as a reason why we aren’t headed for a crash:

“There’s just generally not enough supply. There are more people than housing inventory. It’s Econ 101.”

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

“We will not have a repeat of the 2008–2012 housing market crash. There are no risky subprime mortgages that could implode, nor the combination of a massive oversupply and overproduction of homes.”

Bottom Line

The market doesn’t have enough available homes for a repeat of the 2008 housing crisis – and there’s nothing that suggests that will change anytime soon. That’s why housing experts and inventory data tell us there isn’t a crash on the horizon.

Not a Crash: 3 Graphs That Showcase Today’s Robust Housing Inventory

Hey homebuyers and sellers! Let’s talk about the elephant in the room: the whispers of a looming housing market crash. If you’ve been reading the headlines, you might be feeling a sense of déjà vu, transported back to the harrowing days of 2008. But fear not, fellow real estate enthusiasts! Today’s market is a completely different animal, and the data proves it.

Distressed Properties vs. A Balanced Market

Remember the mountains of distressed properties that flooded the market in 2008? Foreclosures and short sales became commonplace, a direct result of subprime lending practices that put many homeowners in over their heads. Thankfully, lending standards have tightened considerably. Today’s mortgage process is far more rigorous, ensuring more qualified buyers secure loans they can comfortably manage. The result? A significantly shortage of homes for sale.

Take a look at Graph 1: it depicts the stark contrast between the foreclosure rates of 2008 and today. The red spike in 2008 is a sobering reminder of the crisis, while the current low levels paint a much more optimistic picture. This dramatic shift demonstrates a housing market on much sturdier footing.

Graph 1: Foreclosure Rates (2005-2024)

The Inventory Crunch: A Sign of Market Strength, Not Weakness

Now, let’s delve into the current housing supply. You might be surprised to learn that the very thing some perceive as a harbinger of doom – the lack of homes available – is actually a sign of a healthy market.

Graph 2 showcases the historical trend of existing home inventory. Notice how far below the pre-2008 levels our current inventory sits? This scarcity isn’t due to a lack of buyer interest; it’s a consequence of Homeowners deciding to sell their houses at a slower pace.

Graph 2: Months of Existing Home Inventory (1990-2024)

Why are people holding onto their homes? There are several factors at play. Perhaps they’re enjoying historically low mortgage rates. Maybe they’re hesitant to list their property in a market with such fierce competition from eager buyers. Whatever the reason, the result is a shortage of existing homes and a seller’s market that’s driving home prices upwards.

Building for the Future, But Not Quite Catching Up

While the existing home market simmers, the new construction sector is working hard to meet demand. Homebuilders are cranking out newly built homes, but new construction simply hasn’t been able to keep pace with buyer demand.

Graph 3 illustrates the disparity between new home construction and the overall housing market. While new construction is on the rise, it’s still far below pre-2008 levels. This inventory growth is a positive sign, but it will take time for new construction to bridge the current gap.

Graph 3: New Home Sales vs Existing Home Sales (2000-2024)

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The Bottom Line: A Market on Solid Ground

So, can we definitively say there won’t be a housing market crash? While nobody can predict the future with absolute certainty, the data paints a clear picture. Today’s market is characterized by more qualified buyers, tighter lending standards, and a healthy lack of distressed properties. This robust foundation is a far cry from the shaky ground that led to the 2008 crisis.

Beyond the Headlines: A Look at the Unsung Heroes of the Housing Market

While the media often focuses on the intense competition and rising prices, there are several under-the-radar factors contributing to the current housing market’s stability. Here’s a shoutout to some of these unsung heroes:

  • The Forbearance Program’s Silent Strength: Remember the dark days of 2008 when foreclosures ravaged neighborhoods? Thankfully, the government implemented the CARES Act Forbearance Program in 2020. This program allowed struggling homeowners to temporarily pause or reduce their mortgage payments, preventing a wave of defaults and foreclosures. This crucial intervention helped millions of Americans stay in their homes and avoid financial ruin.

  • Homeowners Choosing Stability: Unlike the pre-2008 market where speculation and flipping were rampant, many homeowners today are choosing stability over quick profits. With historically low mortgage rates locking them into affordable monthly payments, many are hesitant to sell and potentially face the challenge of securing a new loan at a higher interest rate. This decision, while driven by self-preservation, also contributes to the current inventory shortage.

  • The Rise of Renovation Loans: Gone are the days when outdated kitchens or bathrooms automatically disqualified a property from buyer consideration. Today’s market is witnessing a surge in renovation loans, which allow buyers to factor in the cost of necessary upgrades into their mortgage. This trend unlocks a wider pool of potential homes for buyers and breathes new life into older properties.

  • The Responsible Lending Landscape: A significant departure from the loose lending practices of the past, today’s mortgage lenders are held to stricter regulations. This ensures that borrowers qualify for loans they can comfortably afford, preventing another subprime mortgage crisis. While stricter lending standards might make it slightly more challenging for some buyers to qualify, it ultimately protects both borrowers and lenders from financial hardship.

A Symbiotic Ecosystem: Buyers, Sellers, and the Market

The current housing market is a complex ecosystem where the actions of buyers, sellers, and various support systems all play a role. While headlines might paint a picture of a market teetering on the edge, a closer look reveals a more nuanced reality. By acknowledging the unsung heroes contributing to stability, we gain a deeper understanding of the market’s current dynamics.

The Road Ahead: Embracing Change and Opportunity

The housing market is constantly evolving, and the current climate presents both challenges and opportunities. Here’s a parting thought: instead of fearing change, embrace it as a chance to be a smarter and more informed participant in the market. Whether you’re a buyer, seller, or simply someone with a vested interest in the real estate landscape, stay curious, do your research, and leverage the resources available to you. With a proactive approach, you can navigate the current market with confidence and achieve your real estate goals.

Beyond the Bubble Talk: A Look at Long-Term Market Trends

Whew! We’ve delved into the intricacies of today’s housing market, dispelling crash myths and highlighting the unseen forces shaping the landscape. But let’s take a step back and zoom out. What does the long-term future hold for this ever-evolving market?

Here are some key trends with the potential to significantly impact the housing market in the coming years:

  • The Rise of the “Rentership” Generation: Millennials, burdened by student loan debt and entering the workforce during the 2008 crisis, have shown a demonstrably different approach to homeownership compared to previous generations. Many prioritize flexibility and are comfortable with renting for extended periods. This trend, coupled with an aging population increasingly downsizing, could lead to a continued rise in the rental market alongside a more stable ownership market.

  • The Impact of Climate Change: As the effects of climate change become more pronounced, location will play an even greater role in determining property values. Areas prone to natural disasters or with limited water resources might see a decline in desirability, while communities with a focus on sustainability and resilience could become more sought-after.

  • Technological Innovation: Technology is already transforming the real estate industry, with virtual tours, 3D printing for construction, and proptech (property technology) platforms streamlining transactions. As technology continues to advance, we can expect even more innovative solutions that will enhance efficiency, transparency, and accessibility in the housing market.

  • The Evolving Role of Government: Government policies can significantly impact the housing market. From infrastructure development and zoning regulations to affordable housing initiatives and tax incentives, the government plays a crucial role in shaping market dynamics. How these policies evolve in the future will be a key factor to watch.

A Market in Flux: Embracing Uncertainty with Optimism

The long-term trajectory of the housing market is inherently uncertain. However, by understanding these emerging trends and staying informed about policy changes, we can make educated predictions and prepare for potential shifts.

The key takeaway? Don’t get caught up in short-term market fluctuations or sensationalized headlines. The housing market, while complex and ever-changing, has historically proven its resilience. By focusing on long-term trends, responsible financial planning, and a willingness to adapt, you can position yourself to thrive in the dynamic world of real estate.

Finding Your Foothold in a Competitive Market (Even with Low Inventory)

  • Get Pre-Approved for a Mortgage: This crucial step demonstrates your financial strength to sellers and positions you to act quickly when the right property pops up. Consider reaching out to a local West Palm Beach mortgage broker [West Palm Beach mortgage broker] to explore Affordable West Palm Beach home loans [Affordable West Palm Beach home loans] and secure the Best mortgage rates in West Palm Beach [Best mortgage rates in West Palm Beach].
  • Work with a Real Estate Agent: A knowledgeable agent can guide you through the competitive landscape, help you craft compelling offers, and advocate for your interests throughout the buying process.
  • Be Flexible: While you shouldn’t compromise on your core must-haves, being open to different locations, property types, or move-in timelines can significantly expand your options.
  • Consider New Construction: While existing homes are scarce, new construction offers a fresh, modern alternative. Explore options with your agent and weigh the pros and cons of a newly built house versus a pre-existing one.

Remember, knowledge is power! Stay informed about the local market by following reputable real estate resources and consulting with your agent. With the right preparation and guidance, you can navigate today’s market and find your dream home.

West Palm Beach First-Time Homebuyer Programs

If you’re a first-time homebuyer, there might be financial assistance programs available to help you achieve your dream of homeownership. Explore First time home buyer loans in West Palm Beach [First time home buyer loans in West Palm Beach] with your chosen mortgage professional.

The Future of the Housing Market

Housing experts predict that the inventory shortage will eventually ease as new construction ramps up and more homeowners decide to sell. However, the exact timeline remains uncertain.

In the meantime, the market is expected to remain competitive, with home prices continuing to rise, albeit at a potentially slower pace. This means it’s still a great time to be a homeowner, but buyers need to be prepared to act swiftly and strategically.

The Takeaway

Don’t let the headlines about a potential crash deter you from your homeownership goals. Today’s housing market is fundamentally different from the one that led to the 2008 crisis. By educating yourself, working with the right professionals, and remaining adaptable, you can successfully navigate this market and secure your piece of the American dream.

Ready to Explore Your Options?

Whether you’re a seasoned investor or a first-time homebuyer, the West Palm Beach market offers exciting possibilities. Feel free to utilize the resources mentioned throughout this article, including:

  • West Palm Beach mortgage broker [West Palm Beach mortgage broker]
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By taking advantage of these resources and partnering with a knowledgeable real estate professional, you can turn your dream of homeownership into a reality!

The Final Word: Owning Your Future in a Dynamic Market

So, you’ve reached the end of this exploration of the current housing market and its intriguing future. Hopefully, you’re feeling empowered with a deeper understanding of the forces at play and the opportunities that lie ahead.

Whether you’re a seasoned investor, a first-time homebuyer, or simply someone with a curiosity about the real estate landscape, here’s a final word of encouragement: take ownership of your future in this dynamic market.

Here’s how:

  • Become an Educated Consumer: Knowledge is power. Immerse yourself in reliable resources like market reports, industry publications, and educational content from reputable real estate professionals. The more you understand the market, the better equipped you’ll be to make informed decisions.
  • Embrace Professional Guidance: Don’t navigate the complexities of the market alone. Partner with a qualified real estate agent who possesses a deep understanding of your local market and your specific needs. Their expertise can be invaluable in guiding you through the buying or selling process.
  • Think Long-Term: Real estate is a long-term investment. While short-term fluctuations might grab headlines, don’t get swayed by fleeting market anxieties. By focusing on your long-term goals and financial objectives, you can make strategic decisions that benefit you in the years to come.
  • Be Adaptable: The housing market is constantly evolving. Embrace this dynamism and be prepared to adjust your approach as needed. Stay open to new technologies, evolving market trends, and potential policy changes.

The American Dream: Still Within Reach

Despite the complexities of the current market, the dream of homeownership remains achievable for many Americans. By taking an informed, strategic, and adaptable approach, you can navigate this dynamic landscape and secure your place in the ever-evolving world of real estate.

So, don’t let the headlines deter you. With the right knowledge, guidance, and a touch of optimism, you can turn the dream of homeownership into a reality. Now, go forth and conquer the market!

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Joel Aratare
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
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
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
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
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
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
Jeffrey Zananiri
12:55 14 May 21
Christian and his team provided a stress free, white glove service. Highly recommend.
Jack Dixon
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
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
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
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.
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