Weston Real Estate and Community News

Jan. 26, 2016

Weston - Household Hazardous Waste and Electronics Recycling Event

Jan. 22, 2016

Average rate for 30-year mortgage falls to 3.81%

Buyers - What are you waiting for? 

Take advantage of low interest rates while you can! 

According to the latest posting from FloridaRealtors.org, for the third straight week, average long-term U.S mortgage rates fell as a result of the global stock market taking a beating with falling oil prices and the fret over economic growth. Freddie Mac announced Thursday that the average rate for a 30-year fixed-rate mortgage declined to 3.81% from the previous week at 3.92%; lowest level in 3 months! 

Average rate on a 15-year fixed-rate mortgage dropped to 3.10% from 3.19%.

So whats causing this?  

In a Nut shell: The rollercoaster ride of stock markets from around the world has investors seeking safety in bonds, resulting in elevated prices of U.S. government bonds. As a result, yields on bonds have depressed which directly effects mortgage rates.   


If you're in the market to purchase a home, you've probably been focusing in on the threat, or promise, of increasing interest rates. While stocks are down, you still can lock in a great interest rate on a mortgage. Bankrate.com did a poll this week in which 50% of mortgage experts predict interest rates will fall even further over the short term. Only 20% force a rise in rates, while 30% expect little to no change. 

Buyers - Take advantage of these rates while you can.

Call me today and lets get you started in the process of purchasing a home. 


Jan. 20, 2016

"King of Cocaine" former Miami home demolished.

Pablo Escobar's, aka the "King of Cocaine", former Miami beach home is being demolished by the new owners to make way for a  new modern multi-million dollar mansion. According to public records, Escobar purchased the home back in 1980 for $760,000. Current owners, Christian de Berdouare and Jennifer Valoppi, paid a reported $9.6 Million in May of 2014 for the home, which sits on a 33,000 soft Lot. Demolition will continue and we'll keep you posted on the progress of the new mansion.   

Source: The Real Deal

Posted in Seller Information