Who Loves to Save Money?!?! How to Remove PMI Payments!

Who else LOVES to SAVE MONEY? You’ll love this real estate hack if you don’t already know.

No matter when you bought your house, if you did so with less than 20% down, your mortgage lender tacked on the extra cost of private mortgage insurance (PMI) as a standard precaution. ​​​​​​​​Removing PMI payments can be a significant way to save money in the long run. PMI is usually required when a homebuyer makes a down payment of less than 20% on their home purchase. Once the homeowner reaches 20% equity in their home through mortgage payments or home value appreciation, they can request the cancellation of PMI.

By eliminating PMI, homeowners can potentially save hundreds or even thousands of dollars annually. This extra money can be put towards paying off the mortgage faster, saving for future goals, or investing in other financial endeavors. It’s essential to stay updated on the value of your home and the amount you owe on your mortgage to determine when you’re eligible to remove PMI and start enjoying the financial benefits of doing so.

PMI, Remove pmi, mortgage

In addition, PMI typically only protects the lender in the event of a default. According to NerdWallet, PMI rates usually range from .58% to 1.86% of the original loan amount. So, for example, a $400,000 loan with 7.5% down would mean your PMI payment would be $305/month (with a 700-credit score).

Let’s Talk PMI

✔️ Confident that your house is worth more today than when you purchased it? ​​​​​​​​

✔️ Can I cancel PMI if my home value increases? ​​​​​​​​

✔️ When does PMI go away?​​​​​​​​

📝 Whether your individual mortgage qualifies for PMI removal will depend on factors like the current value of your home, the loan type, how much you still owe on the loan, and your payment history.​​​​​​​​ With the example above, it would take 8.66 years for the lender to remove this $300 monthly payment. So, you would be paying over $31,000! However, do not stress because there are ways to remove this sooner.  

How Can We Remove the PMI?

💰 In all honesty, the hot real estate market of 2021-2022 meant many homeowners saw their equity rise. Even though a market shift is underway as of late due to higher interest rates, many homeowners with mortgages will most likely be sitting on significant equity due to still-high home values. In Q2 2022, a report from CoreLogic shows that homeowners with mortgages saw an equity increase of nearly 27.8% year-over-year. CoreLogic forecasts an average rise in home prices of 4.3% between June 2022 and June 2023.​​​​​​​​

💼 As a result of this trend, NOW would be a good time for many borrowers to see if they qualify for private mortgage insurance cancellation. A higher equity stake in your home can lower the perceived risk of your mortgage and, in some cases, speed up the path to PMI removal.​​​​​​​​ See! We told you not to stress!

In addition, because PMI can add tens of thousands of dollars in housing costs over the life of a loan, it’s essential to consider taking steps to remove PMI as soon as you’re eligible.​​​​​​​​

Long story short… 😉… reach out to me anytime for a CMA! Our team would love to have coffee (or a margarita) with you to discuss it further.  Pointe South is always looking for ways to save our customers money!

At Pointe South Rentals and Real Estate, our mission is to be the ultimate resource for all your real estate needs. Whether you’re looking to buy, sell, or rent a property in the beautiful Pensacola area, we are dedicated to providing exceptional service and helping you navigate the real estate market with ease. With our team of experienced professionals, extensive knowledge of the local market, and a commitment to client satisfaction, we strive to exceed your expectations.

We understand that buying or renting a property is a significant decision, and we are here to guide you every step of the way, offering personalized attention and expert advice. Trust Pointe South Rentals and Real Estate to be your trusted partner in achieving your real estate goals.

Here is to saving money in 2023!!!

susancarletonteam@pointesouth.com ~ 850.492.1148

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Coming or Going – It’s Time to Plan for Coastal Fun

Whether you are selling a property or buying/investing in the area, your 2 most valuable assets are FAMILY and HOME and we serve them both.

The Southern Team helps buyers and sellers every day and we are always available to assist you, but first before we hit the road looking and planning, we need to plan some time to enjoy the plethora of local events along the Gulf Coast.

NW Florida and Coastal Alabama is Chuck full of event line-ups! The area brings people together to enjoy being together. We welcome you and know it’s time to plan some fun with live music, festivals, sports – celebrations that all folks enjoy make this area even more special from Destin, Pensacola Beach, to Perdido Key and Gulf Shores and Orange Beach. These areas have beach front properties that are affordable and exclusive to the Million Dollar Penthouses, Executive Homes, Pool Homes, Condos, Town Homes or Single Family Homes to raise the family, Farm Life, Beach Life, quaint downtown Life; we call it HOME LIFE.

From live music and night life events in Pensacola Beach, major head line music tours singing loud and proud in Pensacola Arena or The Wharf Amphitheatre in Orange Beach, sports fun with the Blue Wahoos Baseball team, organized races and family races, paddle boarding and bike fun. If that isn’t your thing, how about all the exquisite food and drink flavors from Greek, Smokin BBQ in the Square, Emerald Coast Beer and Seafood Festivals your belly is full with home town hospitality and good eats.

For the Art enthusiast, the Gulf Coast has tremendously talented artists on display at local markets, shows, and even exceptional performing arts shows at the theatre, designers, and Broadway events, comedy fun, and local rising artists playing at Vinyl downtown venue and fun street bands. Having fun here is easy. No Exceptions! Ladies nights, Street Parades, Good Eats, Sports, Fishing, did I mention Sugar Sand Beaches and U.S. Navy Blue Angels Air Shows and that is just a few of the tops.

It’s always fun to visit, even better to play, stay and invest. Southern draws upon decades of real estate expertise in the area, in the events, in it all and we offer an asset-based approach to your NW Florida or Coastal Alabama real estate options – licensed in Florida and Alabama because we know your most 2 valuable assets are YOUR FAMILY and YOUR HOME – We Serve them both.
Destination – HOME!

Gulf Coast Biggest Beach Party & Annual Mullet Toss

The infamous Beach Party and Mullet Toss is planned for April!  Hmmm….you may be asking what is a mullet toss?  Well, it’s not the 80’s haircut, but it is one of the largest beach parties on the Gulf Coast that has participants throwing this fish called a mullet.  The mullet toss is hosted and organized by Flora-Bama Lounge, Package & Oyster Bar to see who can throw a fish the farthest over the state line between Florida and Alabama.  The farthest throw wins and fans and participants enjoy good fun, live legendary music, people watching, dancing, singing and especially enjoy the Flora-Bama famous concoction drink called the “Bushwacker”. 

Mark your calendar for April 27-29, 2018.  All this annual fun is a national event with music, good food and contributes to our local youth charities including local school education and prevention programs, CDAC, community support and to the Boys and Girls Club of America.  More then $40,000 was donated last year for this weekend fun.  Come out and enjoy and support.  The fun starts on Friday with the first throw at noon.  So fling your fish.  The cost to toss is $15.00 including a souvenir t-shirt and then you toss the entire fish which weighs just about 1lb. across the border.  All ages and family fun is had by all.  Let the beach bash begin!

Easy Home Improvements that boost home values

It is common knowledge that a great number of homes sell during the SPRING buying season, for that reason many home owners will be making that decision now and wanting to bump their value with some easy home improvements. But, where do you begin and what improvements really boost the return on your investment into your pocket? Well, here you go.

Some easy ways to boost the value of homes by 12% or more according to FloridaRealtor.org is to invest in a few pre-listing repairs. For example, based on a median home price at $205,000. the potential gain is $24,500. Now, that seems worth your time and attention.

Not that we are all listening, let’s see what all this entails in order to gain the most return on investment that you desire.
Some of the fixes that are ranked as most important are also encouraged by our expert Southern Real Estate Sales Agents. Our agents share their expert advise and this is why we schedule listing appointments at your home. Our Agents will advise you with specific details to help your selling process in order to expedite the sale of property.

#1 DECLUTTER will be at the top of the list. The cost is 0 if you do it and have the entire family chip in. This activity alone will produce a 3-5% return and it is a must do! When potential buyers preview your home that you are SELLING, they truly want to be able to see themselves living there. You have to allow them to visualize themselves there. You can help achieve that by storing some of the family pics and personal items that you cherish in Tupperware. This also helps you start the process of moving. Two birds with one stone as they say!

#2 KITCHEN is King! The kitchen was rated as the most important to have in top shape before selling. Focus on the minor repairs that center on the kitchens function should be first. Fix leaky faucets, loose light fixtures and counter top cleanliness. Not only washed up, but putting away the large kitchen

appliances that hide all the counter space. Put those away or store those in a Tupperware in the garage. Then, enhancements are next. Painting walls, updating cabinet hardware and adding new curtains or light fixtures and an organized pantry shows care and all the space that is available.

#3 BATHROOM freshness is next! This 2-3% return is simple and an easy improvement with fresh caulking of the shower and tub and floor seams. Updating fixtures and fresh paint will brighten the space. Updating the mirror and lighting can also give a bigger return.

#4 PAINT makes a big impact as the buyer thinks of it as one less step that they would have to do and it shows good overall maintenance of the home. Interior painting is an important part of bringing about a sale of the home. But, as the seller, you likely don’t need to paint the entire home – a refresh of the main rooms curbs big costs in painting the entire interior. Three prime rooms are the kitchen, living room and bathrooms. Be sure to select a neutral tones. Paint with whites or off-whites, grays or beiges as studies show that this helps the buyer focus on the home’s features. Bright colors tend to distract buyers and prompt in immediate cost to them to update.

#5 Lastly, CURB APPEAL and the WELCOMING feeling. With a 2-5% return, concentrate on basic maintenance with lawn care, trimming of shrubs and adding fresh mulch. A good way to see the home with different eyes, is to go stand across the street and look at the home from your neighbors perspective. This always shows you things that you may not have seen before and see if the change is cost effective to you. Additionally, a good pressure washing will instantly brighten your home and increase the “welcome home” feeling. A new mat at the front door with a fresh flower invites your new guests or buyers and this has the lasting effect on them as they are more then likely looking at several homes in one day. Be the stand out – in a good way! This helps you go from FOR SALE to UNDER CONTRACT to CLOSED! If you are thinking of selling, Southern Real Estate Sales would love to help you get it done.

CALL | TEXT | EMAIL to find out what your home is worth today! 850.492.1148 FORSALEONTHEGULFCOAST.COM    susancarletonteam@pointesouth.com.

Upcoming Events on the Gulf Coast !

What’s Happening on the Gulf Coast!
Celebrate the unique combination of food, history, art, music and beaches that can all be found in and around our city. From the smaller arts and crafts festivals to the larger music festival, these outdoor parties are fun for the whole family! Don’t just take our word for it! Come see Pensacola, Pensacola Beach, Perdido Key, Destin, Orange Beach, or Gulf Shores. Find your perfect place on the Gulf Coast whether you are coming to play, stay or invest, Southern Rentals & Real Estate can help to make your sweet Southern experience memorable!

Our Calendar of Events has some of the fun for the Fall Season!

October
Blue Angels practice : Pensacola
Flora Bama Oktoberfest :
Humane Society’s Barktoberfest : Pensacola
13-15 Annual Shrimp Festival : Gulf Shores
13-15 58th Greek Festival : Pensacola
14-Bridge to Bridge Run 5K : Pensacola
17 UWF Symphonic Band Concert Band : Pensacola
18 Fishing Rodeo : Destin
28 Spooky Movie on the Lawn at The Wharf : Orange Beach
22 Art & Wine Festival : Pensacola Beach
24 Bands on the Beach : consecutive Tuesdays : Pensacola Beach
20 Gallery Night Downtown : Pensacola
28 Boo at the Zoo : Gulf Breeze
28 Halloween at Naval Museum: Pensacola
28 Wahooloween : Blue Wahoo Stadium: Pensacola

November
Ice Flyers Hockey is back.
38th Annual Toys for Tots Run :
02 Foo Foo Festival : Pensacola
03 Umbrella Sky Project : downtown Pensacola
03 Annual Oyster Cook Off at The Hangout : Gulf Shores
04 Blues, Brews & BBQ Festival : Harbor Walk Village : Destin
08 Magic Men Live at Saenger Theatre : downtown Pensacola
09 Elf – the musical at Saenger Theatre : downtown Pensacola
17 Ice Skating at The Wharf : Orange Beach
10 An Evening with Guitarist, Gene Bertoncini: PensacolaPensacola Beach
10 Emerald Coast Theatre Co.-Disney Aristocrats Kids show : Destin
10-11 Blue Angel Homecoming Air Show : Pensacola
11 Repti Day – Reptile and Exotic Animals Expr : Navarre
12 Annual Marathon : Pensacola
16 Palafox Market, recurring weekly : downtown Pensacola
18-19 UTR Tennis Tournament : Orange Beach
24 Magic Christmas Lights at Bellingrath Gardens & Home opens for the month : AL
24 Elf Parade : downtown Pensacola
27-28 Annual Tree Lighting : Orange Beach

December
02 Lighted Boat Parade & Fireworks : Pensacola Beach
03 Visit with Santa at the Harbor Walk : Destin
08 Christmas on the Coast : Pensacola Children’s Chorus : downtown Pensacola
09 Christmas Parade : Destin
01-17 Horse and Carriage Riders at The Wharf : Orange Beach
09 Flora Bama Santa Drop
15 Nutcracker at the Saenger Theatre : Pensacola
31 Pelican Drop Celebration – downtown Pensacola

With so much to do around town, whether you are looking to stay for a day or make the move of a lifetime, Southern is dedicated to helping you find the perfect place. Stop by one of our office today.  Southern Rentals and Real Estate

Have a sweet Southern experience !

Protecting your Biggest Investment on the Gulf Coast… Family and your home

Hurricane Season officially started June 1st in NW Florida and we need  to be prepared on the Gulf Coast. In protecting our biggest and most important investments, we need to have a plan.  Two keys to weather safely are to prepare for the risks and to act on those preparations when alerted by emergency officials.  These are essential pieces to protecting our families and our homes and communities.  Our gorgeous sugar sand beaches can feel some occasional weather.  Hard to believe, I know!  But, when and if it happens, we want our guests and families to be ready.  We have to gather important information.  Especially, Beachfront communities in Destin, Pensacola Beach, Perdido Key, Orange Beach, and Gulf Shores.  We have to know the evacuation plan.  Firstly, know if you live in an evacuation area.  Assess your risks and know your home’s vulnerability to storm surge, flooding and wind.  Next, plan and take action.  Everyone needs to be prepared for the unexpected.  Your friends and family may not be together when disaster strikes.  How will you find each other? Will you know if your children or parents are safe?  Texting is a good tool to use as the phone lines might be saturated.  Furthermore, have a supply kit.  Put together a basic disaster supply kit and consider storage locations for different situations.  Help community members do the same.  That is what we do on the Susan Carleton Real Estate Team.  We prompt one another to do good and take care of one another in all areas of life.  Develop and document plans.  Protect yourself and family with a Family Emergency Plan.  Be sure to plan for locations away from home and business.  Business owner, Susan Carleton, survived  the massive hurricane 10 years ago and recalls the importance of the plan.  In all life scenarios, the plan is a guide. We hope we don’t have to use, but if you do, you find yourself responding and acting and taking care of one another.

When waiting out a storm, be careful.  The danger may not be over yet.  Be alert.  Wait until the area is declared safe before returning home.  Remember that recovering from a disaster is usually a gradual process.  The City of Pensacola has incredible resources for our visitors and residence from Alerts to traffic advisories to American Red Cross and additional preparedness.  Be safe!  Enjoy the City of Pensacola and surrounding areas.  We love that you are here and hope you have a sweet Southern Experience. Beachfront Land For Sale in Perdido Key - Susan Carleton

http://www.cityofpensacola.com

http://www.BeReadyEscambia.com

Upcoming Running Events on the Gulf Coast

Running Shoes 2 webHave you recently purchased Gulf Coast real estate and made the beach your home? Well, if you love to run, we have several events you should get out and enjoy. Not only are they fun, they are sure to help your new town feel like home!

The first running event coming up is the Gulf Coast Half Marathon taking place on February 28, 2016 at 7AM. The event is hosted by LuLu’s restaurant, so it’s sure to be a blast. The event will begin there, follow a fun course and end just 50 yards away from where it starts, after 13.1 miles, of course. Not a runner? That’s okay. Walkers are welcome, too. Be sure to stay on for the Nearly World Famous Post Race Party hosted by LuLu’s, which will kick off as soon as the first runner crosses the finish line.

Can’t make this half marathon? Consider running the Pensacola Beach version on April 10, 2016 hosted by Running Wild. Also a walker friendly course, the race will begin at Casino Beach and the post race party will take place at Flounder’s in this case.

Speaking of Pensacola, if you have recently purchased real estate on Pensacola Beach or the surrounding area, consider exploring downtown via the McGuire’s 5K Prediction Run. Now it’s 39th year, this run asks participants to predict how long it will take them to complete the certified 5K course through town. Those who come closest to their predicted time, without the used of timing devices, win! That run will take place at 9AM on March 12, 2016 and registration is open. No matter the location or distance, we hope you have a great run along the Gulf Coast.

Top Things to Do in Gulf Shores

FamBeach2014-0297 (1)If you have recently moved to the Gulf Coast or are thinking about buying real estate in Gulf Shores, you are undoubtedly itching to get out and see what the area has to offer. Allow us to help with our top things to do in Gulf Shores!

We know the first thing you will want to do in your new hometown is hit the beach, but it may still be a little chilly for that. If so, try hitting up a Gulf front restaurant instead. That way, you can enjoy the awesome beach views, as well as try out some local seafood. We recommend Bahama Bob’s or the Pink Pony Pub. Another great place to try is LuLu’s on Homeport Marina. Located off the beach, this fun restaurant is known for their great food, fun family activities and onsite attractions such as a ropes course and arcade.

Speaking of activities, if you love the outdoors, Gulf Shores offers your ideal attractions in the form of the local state park. Explore it from high above via a seven mile ziplining tour, or hike the available trails, including the popular birding trails. Once it warms up, grab your paddle board or kayak to explore the water ways. If fishing has caught your eye, head out to the state park’s fishing pier.

You may be thinking you want to steer clear of the tourist destinations now that you’re a local, but they are so much fun and spring is a perfect time to try them out before the summer crowds arrive. Our best bets include Waterville USA, the local water park, as well as the Alabama Gulf Coast Zoo. Dolphin and boat tours are also a popular and fun activity the entire family will enjoy. And, of course, be sure to enjoy a sunset walk on the beautiful beaches as soon as it warms up!

Gulf Shores Named “Hot Spot” by HomeAway

Gulf ShoresAre you ready to take the plunge as a real estate investor, but still deciding on where, and what to buy? Well, usually our answer would be anywhere along Florida and Alabama’s Gulf Coast. Thankfully, HomeAway – an online vacation rental marketplace – has given us EVEN more reason to suggest buying a condo or home along these waters…

The group just released its “Hottest Spots for Spring Travel,” so visitors can start planning their vacation before spring has officially sprung. Of their six most sought-after destinations, Gulf Shores, Alabama ranks third. Naturally, we aren’t surprised and we’re positive our friends at Southern Vacation Rentals can vouch for the rise in popularity amongst their Orange Beach and Gulf Shores condo rentals.

But why does this mean you should buy beach homes for sale in Gulf Shores? Because the demand for inventory is not going anywhere any time soon. That answers the number one rule of buying an investment property – could you rent the property when you are not there? Sounds like if it is in Gulf Shores, Alabama you won’t have any problems.

Still have questions about buying real estate on the Gulf Coast? Or, are you interested in learning more about our property management services in Gulf Shores? Contact Southern today at 850.492.1826 for more details on how we can help!

The Big Beach Marathon in Gulf Shores

Running Shoes 2 webLove to run? Grab your sneakers! If you have recently invested in Gulf Shores real estate and are looking to enjoying running events on the Gulf Coast, this is one you don’t want to miss.

The Big Beach Marathon will take place on January 31, 2016 at 8AM at The Hangout, a favorite Gulf Shores restaurant and event venue. This half and full marathon course is a Boston qualifier and follows the paved pathways of Gulf State Park for the majority of the route. The last three miles, however, follow three scenic miles of Beach Boulevard and lead you to the finish line with the sites and sounds of the Gulf of Mexico.

On the Saturday before the race, head to The Hangout for the kick off party and race expo at noon. At the conclusion of that event at 6PM, grab a seat with your race buddies and carb load for the big day during the pasta buffet dinner. The Hangout will also host the awards and post-race party on Sunday from 11AM-4PM. You won’t want to miss out on the food, beer, music and fun – after all, you’ve earned it with those 26.2 miles!

Registration for this event is still open. Signup today and good luck!