Home > Blogs > Jocylyne Corlew's Blog

Jocylyne Corlew's Blog

By Jocylyne Corlew | Agent in Jacksonville, FL
  • Get the lowest mortgage rate possible with these tips!

    Posted Under: Home Buying in Jacksonville, Home Ownership in Jacksonville  |  August 16, 2013 5:22 PM  |  376 views  |  No comments

    Are you ready to buy a home? Undoubtedly, getting a low interest rate is at the top of your priorities. Read this article on how to get the lowest rate possible. This is great advice for the first time homebuyer! 

    Read the full article at http://realestate.aol.com/blog/2010/06/24/how-to-get-a-low-mortgage-rate/
  • Optimism in the Real Estate Market Remains High

    Posted Under: Market Conditions in Jacksonville, Home Buying in Jacksonville, Home Selling in Jacksonville  |  August 7, 2013 6:55 AM  |  444 views  |  1 comment

    Current homeowners are optimistic about selling their home and are looking to move up their timeline to purchase a new home, according to the most recent survey by PulteGroup, Inc. 

    In the latest Home Index Survey, 43 percent of move-up buyers indicated they are planning to purchase a new home within the next five years.  Additionally, showing further confidence in the housing market recovery, 76 percent believe they can sell their current home within the next two years for a price that would allow them to move to a new home.  The survey polled adults who have owned a home for at least two years, have children under the age of 18, and have an income of more than $50,000.

    "One of the most intriguing findings from this survey is the optimism and the willingness of homeowners to 'pull the trigger' on buying a new home, even if they may not have an immediate need to move," said Deborah Wahl, senior vice president and chief marketing officer for PulteGroup, Inc.  "The move-up buyer represents a significant opportunity for Pulte Homes.  It's critical we continue to understand this buyer and the economic and life-stage factors that spur them to purchase a new home."

    While a change in life stage, such as the birth of a new baby or the need to downsize, remains a common trigger for purchasing a new home, the PGHI survey showed that financial and economic indicators are more likely to spur buyers to move up the timeline to purchase a new home.

    Other factors that would make homeowners move up their timeline include:

    • Selling a home at a higher price point (38 percent)
    • Relocating for a job (24 percent)
    • Job promotion or new job (17 percent)
    • New baby and/or family members moving in (11 percent)

    Millennials Responding to Favorable Housing Market Faster than Other Age Groups

    According to Wahl, the actions of the millennial buyer could further propel housing demand.  Of the three largest consumer segments -- millennials (ages 18-34), Gen X (ages 35-54) and baby boomers (55+) -- millennials are the generation taking action and responding to the housing and financial markets faster than other age groups.

    According to this survey, of the millennials who already own a home, 38 percent are planning to purchase a new home within the next two years.  This increases to 58 percent within the next five years.

    Due to the sheer size and influence of this segment of buyers, PulteGroup is keeping a pulse on millennials' sentiment toward homeownership.  Research conducted earlier this year revealed that millennial renters are ready to purchase their first home.  More than half (54 percent) of millennial renters surveyed said their intention to buy a home has somewhat or significantly increased in the past year.

  • Ready to Buy? We have tips for your online home search!

    Posted Under: Home Buying in Jacksonville  |  June 13, 2013 10:12 AM  |  344 views  |  No comments
    If you are thinking of buying a home, chances are that you have already begun searching online. A survey from Realtor.com shows that more than 90% of home buyers begin their home search online. The Corlew Team Blog gives you tips for making the most of your online search. Read this in our short, yet informative blog at http://www.thecorlewteam.blogspot.com/.
  • Americans' Optimism About Buying and Selling a Home Hits Record Levels

    Posted Under: Market Conditions in Jacksonville, Home Buying in Jacksonville, Home Selling in Jacksonville  |  June 11, 2013 10:12 AM  |  495 views  |  No comments

    Americans' confidence in their ability to buy and sell a home climbed sharply in May, likely due to reports of strong home price gains, according to results from Fannie Mae's May 2013 National Housing Survey. The share of respondents who say now is a good time to sell a home reached a record high of 40 percent, compared to 30 percent in April and 16 percent one year ago. At the same time, the share of those who say it is a good time to buy a home moved up 5 percentage points from April to a survey high of 76 percent. Americans' average 12-month home price change expectation also reached a survey high in May, climbing to 3.9 percent from 2.7 percent in April.

    "Sentiment toward selling a home appears to be catching up with the strengthening housing market," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "The share of consumers who think it's a good time to sell a home spiked this month, the largest increase in the survey's three-year history. This jump may foreshadow a gradual return to more normal levels of housing supply from their lows of recent months. In turn, increased housing supply could serve to temper increasing consumer home price expectations. We will closely watch the potential impact of rising mortgage rates on consumer housing sentiment in the coming months."

    Currently, 46 percent of Americans think it would be easy for them to get a mortgage today, retreating slightly from April's survey high, while 50 percent believe it would be difficult to get a mortgage. Consumers have been asked since the survey's inception in June 2010 for their perceived ease or difficulty in getting a mortgage, and the question was added in May 2013 as an indicator to the monthly data findings report to help determine whether rising mortgage rates affect their views.


    Homeownership and Renting

    • The average 12-month home price change expectation jumped to 3.9 percent, the highest level since the survey's inception.
    • The share of people who say home prices will go up in the next 12 months hit a survey high of 55 percent, while those who say home prices will go down dropped to 7 percent, the lowest level since the survey's inception.
    • The share of respondents who say mortgage rates will go up increased 3 percentage points to 46 percent, while those who say rates will go down hit a survey low of 5 percent.
    • At 76 percent and 40 percent, respectively, the shares who say it is a good time to buy a house and who say it is a good time to sell a house both reached survey highs.
    • The average 12-month rental price change expectation dropped to 3.4 percent, the lowest level since September 2012.
    • Holding steady from last month, 48 percent of those surveyed say home rental prices will go up in the next 12 months.
    • Retreating slightly from last month's survey high, 46 percent of respondents think it would be easy for them to get a home mortgage today.
    • The share of respondents who said they would buy if they were going to move increased slightly to 66 percent.

    The Economy and Household Finances

    • At 40 percent, the share of respondents who say the economy is on the right track increased slightly from April to 40 percent.
    • The percentage of people who expect their personal financial situation to get better over the next 12 months held steady at 41 percent.
    • The share of respondents who say their household income is significantly lower than it was 12 months ago fell 3 percentage points to a survey low 13 percent.
    • The percentage of respondents who say their household expenses are significantly higher than they were 12 months ago rose slightly to 32 percent.
  • First-time Homebuyer Tips

    Posted Under: Home Buying in Jacksonville, How To... in Jacksonville, Home Ownership in Jacksonville  |  June 6, 2013 1:14 PM  |  356 views  |  1 comment

    According to a recent PulteGroup Home Index Survey found that more than half of renters aged 18-34 say their intention to buy a home has increased in the last year.  While their intentions are in many ways driven by personal, aspirational reasons – more space, family stability and the pride of homeownership – the low mortgage rate environment, increasing rental costs and scarcity of desirable rental options makes homeownership an even more attractive proposition for many.

    "The propensity for young adults to test the waters of homeownership continues to increase and has become more evident as renters are seeing the overall value of owning a home," said Deborah Wahl, senior vice president and chief marketing officer at PulteGroup, Inc., noting that more than 50 percent of millennials reported that the desire to own/build equity was the primary reason for purchasing a new home.  "However, beyond finances, it is important for potential buyers to take several other factors into consideration."

    • Know Your Financial Situation – Start saving for a down payment and talk with mortgage lenders about available loans well in advance of your purchase.  Understand there are special federal, state and locally administered financial programs for new homebuyers, such as FHA and HUD loan programs.  Additionally, it's important to take into account other factors beyond your mortgage, including homeowners insurance and property taxes.  By doing your homework, you will know what you can afford and comfortably make a decision about this important investment.
    • Compare Owning vs. Renting – Buying can be smarter than renting from a financial standpoint, but it has other advantages, as well.  Owning a home provides you with a great deal of freedom and decision-making autonomy.  No more will you have to worry about the noisy neighbor upstairs or accidental scratches on the wall from decorations.  You'll have the power to select paint colors and plant flowers throughout the yard.  Also, houses tend to offer more storage space.
    • Weigh New vs. Used – If you want to choose the floor plan and customize a home to fit your needs and lifestyle, building a new home may be the right choice for you.  Popular options new homes offer today include more open, larger spaces, master bedroom suites, island-centric kitchens and bigger outdoor living space.  Customizing a new home also provides the opportunity to design your home and include amenities that meet the needs of your growing family – if that's in your future.  Additionally, new homes can be up to 30 percent more energy efficient and often come with a builder warranty.  If you're handy and don't mind a fixer upper, resale can be an attractive route as well.
    • Examine the Location – Consider your surroundings when deciding upon where you want to live next.  If you plan to start a family, research the local school district and other family offerings such as nearby parks and community centers.  For fun, test out the local retail scene and entertainment options to see if it caters to your lifestyle.  If you're a commuter, determine if the area is supported by adequate public transportation or provides easy access to major highways.  Many in the housing market also care about ensuring they still live within close proximity to family and friends, as only 21 percent of homeowners are willing to move away from their families.
    • Select the Right Builder – If you decide on a new home, select a builder who has experience in the type of home

      and in the location you want.  Make sure they have a history of building quality homes and are financially stable.  Moreover, how easy are they to work with?  Some builders today have gone digital to enhance customer service and help buyers stay on top of the latest with their new home.  Look for on-line design centers that can help you make important design decisions, for example, or portals in which you can stay up-to-date on how your new home is progressing.  Lastly, take time to check their references and talk to past customers.
    • Confide in Trusted Sources – More than 90 percent of home shoppers today are plugged-in to the internet and use it as their main source of information.  While this is particularly true with millennials, don't forget to seek advice from two trusted groups: real estate agents and your personal network, including your parents.  Approximately 60 percent of millennials say they would rely on both sources, as each has extensive experience in purchasing homes and can provide personal guidance toward the successful purchase of their home.

    "With third party data showing that 90 percent of millennials plan to purchase a home at some point in their lives, it's important first-time homebuyers have access to the right tools and information to ensure their first home purchase is one they are proud of for years to come," added Wahl.  "With many options to choose from, starting from a point of knowledge will go a long way towards achieving their dream of homeownership."

  • FOR SALE! New Listing by The Corlew Team!

    Posted Under: General Area in Orange Park, Home Buying in Orange Park, In My Neighborhood in Orange Park  |  May 28, 2013 1:30 PM  |  372 views  |  No comments
  • New Listing! Home for Sale in Mandarin!

    Posted Under: Home Buying in Jacksonville, In My Neighborhood in Jacksonville, Home Ownership in Jacksonville  |  May 17, 2013 7:34 AM  |  333 views  |  No comments
« Read older posts
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer