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PROPERTY
The Impact of Higher Interest Rates

Last week, an article in the Washington Post discussed a new ‘threat’ homebuyers will soon be facing: higher mortgage rates. The article revealed:
“The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.”
How can this impact the housing market?
The article reported that recent analysis from Realtor.com found that –
“…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.”
This doesn’t necessarily mean that those buyers negatively impacted by a rate increase would not purchase a home. However, it would mean that they would either need to come up with substantially more cash for a down payment or settle for a lesser priced home.
Below is a table showing how a jump in mortgage interest rates would impact the purchasing power of a prospective buyer on a $300,000 home.
In Conclusion
If you are considering a home purchase (either as a first time buyer or move-up buyer), purchasing sooner rather than later may make more sense from a pure financial outlook.
Tired of being a tenant? thinking of selling your home?, looking to upgrade? 1st time buyer(s)? buying your dream home? Call us 786.554.8063 or email us George@GeorgeAssal.com, WE are here to facilitate and help you during the process of buying, selling, or renting any real estate needs, which will result in reaching your financial goals quickly and with ease, visit our page www.GeorgeAssal.com
Your Neighborhood Realtor: Why Your Neighborhood Matters just as Much as Your New Home
Last week I was having a conversation with a friend, and she asked me a question I get often—Why do you call yourself the neighborhood realtor?
It comes down to one simple reason—I would never put you somewhere I wouldn’t live. And when I’m making a decision about where to live, I’m taking years of experience into account and taking zero risk. The surroundings of your new home, your future neighborhood, can be just as important as the house itself. And if I’m going to help you find a house, or buy one for myself, I’m thinking about the following things:
- The neighbors and the block around the corner
- The school district
- The reason cited for the current home owner’s decision to sell
- Other homes up for sale in the area
- Predicted increase or decrease in property value
If you run every morning, I’m going to take a walk around the block to make sure you’ll feel safe beyond your street. If you have kids, I know that you’re looking to put their education first—and in Miami, location is everything. If you’re an investor, I’m going to make sure that your real estate investment is based on proprietary market insight and research. And if you work in another part of town, I’m going to have a good estimate on what your commute will look like every morning and what upcoming construction could affect that.
I know the questions to ask, so that you don’t have too, and in fact, I have customers for this very reason in my own neighborhood of Silver Bluff.
As a 26-year-old arriving to the United States, I worked hard to have a piece of the “American dream” and one of the biggest parts of that dream is home ownership. Home ownership isn’t something I take lightly, as I know the work it takes to get to that point, and it is no coincidence that I got into the business of helping people find homes. Whether you are looking to find your first home or make a move into a much bigger one, I’m ready to be part of your process start to finish, in English or Spanish, night or day.
A proud Venezuelan born to Arabic parents, my time in the US was not my first exposure to hard work or a dream for better opportunity. My parents owned a store where I spent my summer vacations, and I shared my parents’ love for working with people and their strong work ethic—something I incorporate into my work every day, and something I’m looking forward to sharing more and more with you on this blog.
Moving forward, I’d like to share more of my insight on neighborhoods in and around Miami, quick tips for how to move a house faster, ideas for a less painful move or open house prep and of course, a few must-see listings. My goal is to help you, even if we aren’t in direct contact, and I’d love to hear from you with any questions.

Real Estate Market Report | January – June 2014
Investing in South Florida Real Estate? Here is all the information you need as Comparative Review of the Real Estate Market in South Florida. If you are undecided but interested in Investing South Florida real Estate and might already know that is time to buy, contact me immediately I will guide you to the right direction
Click here to view the Real Estate Market Report | January – June 2014
SOLD IN 21 DAYS BY GEORGE ASSAL
SOLD IN 21 DAYS BY GEORGE ASSAL
If you are considering buying, selling or renting, in Brickell, Coconut Grove, Downtown, Coral Gables, Pinecrest, Palmetto Bay, South Miami, Doral, please feel free to contact me.
George R. Assal
Broker-Associate® BBF Member | Property Manager |REO & Short Sale Specialist|English- Español
EWM Realtors® | A Home Services of America Company |
Brickell Office | 901 S. Miami Avenue, Suite 215 | Miami, FL 33130
C: 786.554.8063|O: 305.329.7635|F: 888.240.5507|
George@GeorgeAssal.com | www.GeorgeAssal.com
GREAT OPPORTUNI…
GREAT OPPORTUNITY!!! CASH ONLY – Property is located in Bryan Park/Shenandoah area, main house is a 2/2 with 3/3 efficiency building property is being sold is as is conditions, furniture also for sale.
If you are considering buying, selling or renting, in Brickell, Coconut Grove, Downtown, Coral Gables, Pinecrest, Palmetto Bay, South Miami, Doral, please feel free to contact me.
George R. Assal
Broker-Associate® | BBF Member | Property Manager |REO & Short Sale Specialist|English- Español
EWM Realtors® | A Home Services of America Company | An Affiliate of Berkshire Hathaway
Brickell Office | 901 S. Miami Avenue, Suite 215 | Miami, FL 33130
C: 786.554.8063|O: 305.329.7635|F: 888.240.5507|
George@GeorgeAssal.com | www.GeorgeAssal.com


