041521 SWB DIGITAL EDITION

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6 | April 2021 | Southwest Orlando Home & Real Estate While the rollout of the COVID-19 vaccine has left a lot of question marks about the future of the U.S. economy at-large, analysts expect the housing market to remain strong and stable this year. “Despite the uncertainties of the pandemic, the housing market performed well in the second half of 2020,” said Sam Khater, Freddie Mac’s chief economist. “Low mortgage rates and the ability to work remotely continued to propel demand for housing, which is reflected in home sales reaching levels not seen in 15 years.” Whether you’re a potential homebuyer, a current homeowner or considering selling, here are some of the biggest takeaways of Freddie Mac’s quarterly forecast: • Interest rates are likely to remain low. The average 30-year fixed-rate mortgage (FRM) hit a record low more than a dozen times in 2020. The low interest rate environment is projected to continue through 2021, with the 30-year FRM expected to average below 3%. Low rates are good news for buyers looking to Should You Buy or Sell a Home in 2021? ©fizkes/iStock via Getty Images Plus The housing market is projected to remain strong and stable throughout 2021. purchase a home and homeowners looking to reduce their mortgage payment through refinancing. To submit photos, email lauren@kearneypublishing.com Send us your favorite photo — old or new — of you and your dad. The best ones, as judged by our editorial staff, will win your dad the coveted title of That's My Dad Winner! Even if you don't win, your picture could appear as an honorable mention in the Southwest Orlando Bulletin. Don't delay! All photos must be received by May 26 for a chance to appear in our June 17 issue. Be sure to include your name, address, phone number, email address, your dad's name and your dad's neighborhood. Feel free to include any additional information about the photo. You and your dad must reside in Southwest Orlando. Professional photos will not be considered. That’s My DAD! William Shakespeare once wrote, “It is a wise father that knows his own child.” When Southwest fathers are not busy being all-around superheroes for their families, they are busy becoming experts on their children. From favorite toys to secret sayings, good dads share a bond with their children like no other. And the fathers in Southwest Orlando Bulletin’s milestone 27th annual That’s My Dad! photo contest are no exception. This annual photo album, dedicated to Southwest Orlando dads, is one way to say thanks for all the time spent on learning the ins and outs of fatherhood, and to show our local dads that they are loved and appreciated every day. The staff of the Southwest Orlando Bulletin hopes all Southwest dads had a wonderful Father’s Day! JEWELS OF THE SEA — Windermere Chase dad Cori Britt treasures son Max and daughter Addie. 2020 Winner • Home sales to remain high. The demand for housing is expected to remain strong in 2021, creating a THINKING OF SELLING YOUR HOME? Navigate the real estate market with a licensed professional! FREE Comparative Market Analysis & Home Evaluation! Blaine Dooley REALTOR, GKC The Real Estate Collection 321-277-0933 www.therealestatecollection.com 1-800-432-JOIN (5646) savethemanatee.org Photo © David Schrichte favorable market for sellers. Last year, low mortgage rates and the ability to work remotely drove up home sales (the measure of the number of homes sold every month). This year, home sales are expected to ride that wave, averaging 6.5 million for the year. • House prices to grow moderately. In the second half of 2020, the high volume of home sales and low supply of housing drove up house prices. In 2021, house price growth is expected to moderate for the full year. • Refinances to start declining. Low mortgage rates spurred refinance activity in 2020, boosting mortgage originations (the process in which borrowers apply for a home loan) to historic highs. As mortgage rates rise modestly in 2021, refinance activity should start to slow. “While many homeowners took advantage of these low rates last year, evidence suggests that many lower-income homeowners still have the opportunity to strengthen their financial position by refinancing,” Khater said. For more insights on housing, visit freddiemac.com/research. For homebuying and homeownership resources, visit My Home by Freddie Mac. Many of the trends that shaped the market last year, especially historically low mortgage rates, will continue to drive housing activity in 2021. As you embark on your journey toward your home goals, be sure to have a firm understanding of today’s market conditions. Spring Into Action! (StatePoint) ª Adopt-A-Manatee®
Southwest Orlando Home & Real Estate | April 2021 | 7 Four Home Improvement Project Tips SPRING HAS SPRUNG! Check out our new Spring arrivals A bathroom renovation can improve your home's usability and increase its value. Whether you’re thinking about a bathroom update, kitchen overhaul or any other type of home improvement project, these tips from experts at the National Association of the Remodeling Industry and elivingtoday.com can help you get started. Create a Plan Improving your home can be one of the most exciting projects to undertake. Start by setting realistic expectations; determining your goals and needs; finding inspiration and, perhaps most importantly, setting a budget. Renovate the Bathroom You can improve your home’s usability and increase its value with bathroom updates or a full renovation. Before you get started, think about these factors: the amount of space and storage you need, features that are important to you, sustainability concerns and accessibility considerations. Update the Kitchen The kitchen serves as commandcentral for most homes, and you can get the most enjoyment out of yours by making purposeful changes, reconsidering the physical space, reevaluating your shopping style, and choosing appliances with care. Start a Remodel If it’s time for a serious undertaking, a full-blown remodel may be necessary (or simply desired). Remodeling typically calls for hiring a professional contractor, a process you can go about by gathering local recommendations, asking for licensing and insurance, checking references and comparing bids. Find more home improvement ideas and solutions at remodeling doneright.com and elivingtoday.com. (Family Features) ª EXTERIOR HOME CLEANING AND SPECIALTY COATING SERVICES PRESSURE WASHING DECORATIVE SCORED CONCRETE PAVER SEALING POOL DECK COATING 321-947-2541 Imperial Outdoor Living, LLC Facebook.com/imperialoutdoorliving
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