Page 8 - Palm City Spotlight - June '20

Page 8, Palm City Spotlight DOUBLE SPACE

rEal EstatE

Treasure Coast Real Estate busy. The best part is that there wasn’t any noticeable drop in financing and conventional loans with as little as 3 percent down
Report real estate prices. With high buyer demand, and low inventory for first time homeowners and 5 percent for others. 92 percent
of existing homes for sale, sellers are finding that now is a good
of all residential loans fall into these categories.” If you need
time to put their homes on the market. more information, Kevin can be reached at (772) 214-5500 or
No, The Sky Is Not Falling And Real Estate Is Mortgage rates are also at record lows, but lending has ksargent@swbc.com.
Not Collapsing tightened up. Lenders are taking measures to make sure that I personally have seen a significant increase of showings for
mortgage foreclosures and short sales are kept to a minimum. my listings, so I can only assume others have also. As one buyer
By Jim Weix This will help keep home prices stable. told me: “I’m watching the number of homes for sale drop, but
During March and April, According to Kevin Sargent, sales manager at SWBC not the asking prices. Then a week later I see that a home that
the COVID-19 and the stay- Mortgage Corporation, “Yes, the mortgage industry is in a I liked is under contract. I don’t want to wait any longer.”
at-home order definitely had financial crisis, but the sky is not falling.” So although I am optimistic, I do see some homeowners
an effect on real estate. The According to Sargent, “Here is what we know: Non-qualified and tenants making what I feel is a mistake: not making their
Fannie Mae Home Purchase mortgage (QM) product is virtually gone. Think of the bank monthly mortgage or rent payment. Even though at this time,
Sentiment Index (HPSI) fell statement program, interest/only loans, etc. Jumbo (all loans they may be protected from foreclosure, eviction, and negative
®
in March to its lowest reading over $510,200) product is greatly restricted. Some Jumbo credit bureau reports, they still owe the money. It may not be
since Dec. 2016. The number lenders are suspended (no longer taking applications) and fun for them when the reality of this debt hits home. My advice
of homes being put on the those that remain have added a lot of additional restrictions to is to make your payments if you can. If you can’t, talk to your
market also dropped and the their product … requiring larger down-payments, higher credit lender or landlord now.
existing supply of homes for scores, etc.” Jim Weix is a broker associate with The Keyes Company. Jim
sale is at near record lows. Sargent added: “I say the sky is not falling because the has 24 years of experience selling real estate full time. If you
But then May came and things started busting loose. I sold basic products we use day in and day out are still available. We have questions or want the services of an experienced expert,
two homes in three days and other agents reported being very are still doing FHA with 3.5 percent down, VA at 100 percent you can reach Jim at (772) 341-2941 or jimweix@jimweix.com.
Financial Focus

Know Risk Tolerance at When you’re in the middle stages … At this time of being overly dependent on selling variable investments
by devoting a certain percentage of your portfolio to cash
your life, you’re well along in your career, and you’re
Different Stages of Life probably working on at least a couple of financial goals, and cash equivalents and designating this portion to be
such as saving for retirement and possibly for your used for your daily expenses during the years immediately
By Bryce Buchanan, children’s college education. So, you still need to be preceding, and possibly spilling into, your retirement.
Edward Jones investing for growth, which means you’ll likely need to When you’re retired … Once you’re retired, you might
As an investor, you’ll maintain a relatively high risk tolerance. Nonetheless, it’s think you should take no risks at all. But you could spend
always need to deal with risk a good idea to have some balance in your portfolio, so two or three decades in retirement, so you may need
of some kind. But how can you’ll want to consider a mix of investments that align some growth potential in your portfolio to stay ahead of
you manage the risk that’s with each of your goals. inflation. Establishing a withdrawal rate – the amount
been made clear by the recent When you’re a few years from retirement … Now, you you take out each year from your investments – that’s
volatility in the financial might have already achieved some key goals – perhaps appropriate for your lifestyle and projected longevity
markets? The answer to this your kids have finished college and you’ve paid off can reduce the risk of outliving your money. Of course, if
question may depend on your mortgage. This may mean you have more money there’s an extended market downturn during any time of
where you are in life. available to put away for retirement, but you’ll still your retirement, you may want to lower your withdrawal
Let’s look at some have to think carefully about how much risk you’re rate temporarily.
different life stages and how you might deal with risk at willing to take. Since you’re going to retire soon, you As you can see, your tolerance for risk, and your
each of them: might consider rebalancing your portfolio to include methods of dealing with it, can change over time. By
When you’re first starting out … If you’re early in your some more conservative investments, whose value is being aware of this progression, you can make better-
career, with perhaps four or even five decades to go until you less susceptible to financial market fluctuations. The informed investment decisions.
retire, you can likely afford to invest primarily for growth, reason? In just a few years, when you’re retired, you will This article was written by Edward Jones, member
which also means you’ll be taking on a higher level of risk, need to start taking withdrawals from your investment SIPC, for use by your local Edward Jones financial
as risk and reward are positively correlated. But, given portfolio – essentially, you’ll be selling investments, so, advisor.
your age, you have time to overcome the market downturns as much as possible, you’ll want to avoid selling them
that are both inevitable and a normal part of investing. when their price is down. Nonetheless, having a balanced
Consequently, your risk tolerance may be relatively high. and diversified portfolio doesn’t fully protect against a
Still, even at this stage, being over-aggressive can be costly. loss. However, you can further reduce the future risk of

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