If you own one of the Davie homes for sale, you’re probably feeling good that prices are inching up and sales prices are staying close to asking prices. If you would like to buy a home in Davie or elsewhere in Broward County, you should also be feeling good because mortgage rates keep hitting all-time lows in 2020.

Mortgage Rates Dropped Early in 2019

The COVID-19 pandemic hurt a lot of people and businesses, but it also had a big impact on interest rates. If you look at this chart, you’ll see that according to Freddie Mac, interest rates started to fall right around when COVID-19 started to make an impact in the U.S.

On September 10, 2020, the rate for a 30-year fixed mortgage was 2.86%. If you talk to mortgage lenders, they’ll probably tell you that they never thought they’d be quoting rates that low. Keep in mind that not everyone will get a rate reported by organizations like Freddie Mac. You’d need excellent credit and a 20% down payment to get the lowest rate offered on any given day.

What Difference Does a Point Make?

A 1% difference in the interest rate does make a difference. For example, if you financed $200,000 on a 30-year fixed mortgage, at 3.5%, your monthly payment would be $898.09. At 4.5%, your payment would go up about $115 per month to $1013.37.

The big difference comes in how much interest you’d pay over the life of the loan. At 3.5%, you’d pay $123,312 and at 4.5%, you’d pay $164,814 in interest over the life of the loan. It’s true that the majority of people don’t live in one house for 30 years. But, if you finance all the homes you purchase at the same or a higher interest rate, you still end up paying at least that higher interest over 30 years.

If your existing mortgage interest rate is high, this might be an excellent time to refinance. For example, if you purchased your home in November 2018, for example, your mortgage rate was more like 5%.

Where are Mortgage Rates Going?

Admittedly, we’re in a unique economic situation. And, in any economy, forecasting what will happen to interest rates is more of an art than a science. Here are some things to consider.

Down Below Zero?

You may think that the best news is that interest rates are heading toward 0% or even negative interest. Some countries have seen negative interest rates, but there are unintended consequences.

It would be exciting if your mortgage had a negative interest rate. That would mean that over the life of the loan, you’d end up paying less than what you borrowed. The same would be true for your car loan and any other loan you get from a bank. But, typically, a country would only use negative interest rates as a last ditch, desperate measure.

Mortgage Rate ChangesThink about the effect of negative interest rates from the savings side of the equation. Rather than interest-bearing accounts, banks would have interest-charging accounts. That means you’d need to pay the bank to hold your money, which isn’t something any of us are accustomed to. The only way you could earn money on your bank funds would be to take out a loan. It sounds like we’d fall down the rabbit hole where everything is the opposite of what it should be!

A negative interest rate strategy could backfire. For example, if banks must pay borrowers for the privilege of giving them a mortgage, the odds are banks will be less likely to give people mortgages, or any type of loan. That could have a devastating effect on our economy. And, rather than paying the bank to hold their money, some people may go back to hoarding their cash under the mattress, which would remove assets from the economy and further stifle lending and economic growth.

Stay Relatively Steady?

This seems the more likely scenario. Of the experts at Bankrate, 9% predict rates will rise, 91% predict rates will stay steady, and no expert thought rates would fall.

The Home Buying Institute also predicts that interest rates would stay low through the first half of 2021. But, keep in mind that all forecasts are just educated guesses.

If you’re thinking of refinancing, you should know that Fannie Mae and Freddie Mac announced that they will apply a .5% fee to most refinances, and experts say that in October, lenders will begin to raise refinance rates to account for the fee.

It’s a crazy time for the country, real estate, and interest rates, but if you work with professional Davie Florida Realtors like those at the Teri Arbogast Team, you’ll get the advice that will help you make informed decisions about your next real estate transaction.

Whether you’re selling or buying in Davie Florida or other County locations, we are ready to help. Take a look at our Google reviews, and you’ll see that our clients have lots of good things to say. We’re very proud of our five-star ratings on Google, Zillow, and other real estate review websites. We’d love to make you our next successful client!  Call us at 954-242-8030 or send an email today.

Teri Arbogast Team Davie FL


If you’re getting ready to sell Davie real estate, your best strategy is to hire a Realtor. Not a real estate agent, but a Realtor. And, when you’re choosing a Realtor, you need to look out for the signs that a Realtor isn’t being truthful, and steer clear of that person!

What’s the Difference Between a Real Estate Agent and a Realtor?

Each state establishes a list of requirements for someone to get their real estate license. It’s an unfortunate truth that getting a real estate license in the U.S. is ridiculously easy. Regardless of which state you’re in, the requirements are very low.

In Florida, for example, here are the requirements. You must:

Once you complete those steps, you are a licensed real estate agent. It’s not a lot of education for someone who will guide you through a transaction that will have a big impact on your life and finances. It encourages anyone who is between jobs to “give it a try.”

A Realtor is more than a real estate agent. Yes, they have completed the steps above to get a state real estate license, but they have gone beyond those minimum requirements. To become a Realtor, you must first join a local Realtor association. Realtors on the Teri Arbogast Team are members of two associations:

We need to be members of both associations to ensure that we can provide you with the latest home listings anywhere in our geographic area. You’ll see the initials for each association when you look at listings on our website. Association memberships have a fee associated with them that is paid each year. It represents a much larger commitment than just being a real estate agent.

Once you’re a member of at least one association, you can apply to become a member of the National Organization of Realtors (NAR). As a new member, you must take an online course in real estate ethics. You must pass an exam after that course, and renew your commitment every four years. There are also requirements for ongoing education that must be completed to maintain your membership.

Real estate agents become Realtors because they are committed to providing real estate consulting services to the public. And, because they care about the industry and want to promote ethical practice in real estate. Realtors also want to take advantage of the continuing education that is available to help them hone their skills related to real estate law, financing, and other issues that help them protect their clients’ interests.

Do Real Estate Agents and Realtors Stretch the Truth Sometimes?

Real estate agent lies

Unfortunately, the answer is yes. As in every profession, some real estate people earn a good reputation by providing reliable, ethical, and outstanding service. However, there are others who want to do as little as possible to get by, and still others who go outside the code of ethics to make a buck. You want to stay away from this type of agent. Here are just a few examples of real estate agent lies that should raise a red flag.

Sure, I can sell your home for your preferred price.

This would only be true if you choose your preferred price based on a comprehensive market analysis. Most homeowners don’t use that approach to come up with a price for their home. You may be thinking of all the work you’ve done on your home and expect to get that money back in your sales price.

Unfortunately, many maintenance items don’t increase the value of your home. For example, let’s say you replaced your HVAC system. Buyers expect that your home will have an operational HVAC system. You can’t tack on the cost of that replacement onto the price you paid for your home and expect people to pay you for maintaining the system.

A professional Realtor can help you understand the market value of your home to get it sold quickly and at top dollar. Any agent who tells you they’ll be able to sell your home for more than it’s worth is just trying to get your listing. In the end, you’ll probably end up selling for less than you should if you overprice your home in the beginning.

I’ve got buyers just waiting to buy your home.

A professional Realtor may be aware of buyers who are looking in your neighborhood. But, how can an agent be sure that those who are looking would be perfect candidates for your home? Finding the right buyer takes time, effort and a marketing plan that will get your home the exposure it needs to attract that perfect buyer.

If an agent knows someone who will buy your home at the right price, with locked-in financing, and no outlandish conditions, it’s just an accident.

Don’t worry, you don’t need to do a thing to your home to get it sold.

That statement isn’t true for the vast majority of homes that are entering the market. There are always things you need to do to prepare your home to sell. You may need to paint that black bedroom your teen just loves. Or, there may be squeaky doors you need to oil. Or, you may need to get rid of the cat hair from the 20 cats you foster. As always, if it sounds too good to be true, it probably is.

If you’re thinking of hiring a Broward County real estate agent, please consider the Teri Arbogast Real Estate Team. Our expertise, professionalism and ethics will make your home purchase or sale a success. Take a look at our Google reviews, and you’ll see that our clients have lots of good things to say. We’d love to make you our next successful client!  Call us at 954-242-8030 or send an email today.

RealtorYou have probably heard the predictions about all the new technology and online resources that will make real estate agents obsolete. Before you buy in to that prediction, take a look at what REALTORS® actually do. For every hour a REALTOR® spends with you, we’re spending weeks, and sometimes months, behind the scenes working to make your transaction run smoothly.

The Difference Between a Real Estate Agent and a REALTOR®

If you’re looking for REALTORS® in Broward County, the first thing you need to know is that there is a difference between a real estate agent and a REALTOR®. A real estate agent has passed the state exams and acquired a real estate license. A REALTOR® has a license, but they’re also members of the National Organization of REALTORS® (NAR).

As NAR members, REALTORS® have access to a wide array of tools, market data and educational opportunities that help them to serve their clients at the highest levels of professionalism.  In addition, members must abide by a wide-ranging Code of Ethics.

The Code of Ethics covers everything from how a REALTOR® will represent their clients, handle offers and counter offers, preserve confidential information, disclose facts about properties, and more. It makes a REALTOR® a person that can be trusted to assist with one of the most important transactions they’ll ever make.

How REALTORS® Make a Difference

Technology has many uses in the real estate industry. However, technology can’t do many of the things that a REALTOR® does. Here are some examples.

Provide Accurate Local Market Knowledge

A REALTOR® can give you the best information about the real estate market in your area or the area you’re interested in. Some online resources say that they provide this type of information, but if you want the real facts, you need to talk to a REALTOR®.

For example, Zillow Zestimates are notoriously inaccurate. If you’re selling your home, you won’t have much success if you depend on a Zestimate of your home’s value to set a selling price. A REALTOR® has the knowledge and the market insight to prepare a Competitive Market Analysis (CMA) that will help you set a market price to get the highest price the market will bear.

REALTORS® can give you the latest market data, but they can also help you interpret that information. If a home in your neighborhood sold for more or less than you’d expect, your REALTOR® is the one who will know why.

Your REALTOR® will also be familiar with the neighborhoods you may be interested in and can help you quickly narrow down your search to those neighborhoods that offer the type of homes and lifestyle you’re looking for. You could figure it out yourself, but it would take hours of looking at home listings or matching home listings to demographic data. And, even after all that, you’d still need to visit the neighborhoods to get an idea of what’s behind the statistics.

Manage the Process

Real estate is becoming an increasingly complex undertaking as federal and local governments pass laws or regulations to protect consumers. If you had to identify and study all of these regulations, you’d never get around to buying or selling real estate!

The State of Florida has regulations that govern the type of disclosures sellers must make concerning the condition of their home, home inspections, purchase agreements and other paperwork requirements. The Federal government publishes laws about things like fair housing and settlement procedures. Local governments have regulations that govern zoning, building permits, property lines, taxes and more.

Besides the legal side of real estate transactions, your REALTOR® is the conductor for a symphony of people and paperwork that must be done properly to successfully close a real estate transaction. This is just a brief overview of the types of things a REALTOR® does:

Most people get into real estate because they love helping people. But, in the end, REALTORS® are conductors, schedulers, negotiators, mediators, relocation experts, teachers, problem-solvers and sometimes even marriage counselors.

I figure that when a computer can do all those things, the members of the Teri Arbogast Team will need to find other employment. But, I’m not planning on that happening any time soon, are you?

If you have questions about Davie real estate, or plan to buy or sell homes in Davie, feel free to give us a call at 954-242-8030 or send an email. We’ll use all of our skills to help you make a wonderful and informed real estate decision.

Davie Homes Sales during the HolidaysThat sounds like an impossible statement to support, but if you’re thinking of selling Davie real estate, keep an open mind as you read this blog post!  There are a number of good reasons to sell during the holidays.

You’ll Have Less Competition

Everyone knows that Spring is the time to sell, right?  Well, a lot of people believe that, and it causes a large number of homes to come on the market in a very short period of time.  As a seller, that means that you’ll be competing with lots of other homes in your area.  During the holidays, your home will stand out much better.

Holiday Buyers are Serious!

The holidays are a busy time.  If someone is looking for a new home, it means that they’re not just out looking at homes for the fun of it.  Some buyers may be looking for tax advantages by purchasing a home before year-end. In addition, people who are relocating for a job often need to be in place at the first of the year.  And, people relocating are very serious because they’re up against a definite deadline for their move.

The Holidays are an Emotional Time for Many

The holidays, regardless of which one you’re celebrating, generally bring out the good in people.  It’s a warm and fuzzy time of the year.  And, since emotion plays a big role in the home buying process, buyers can be more likely to want to “nest.”

Your Home Reminds People of the Holiday Spirit

You can also take advantage of the part that emotion plays in home buying because your home looks wonderful and reminds people of family and friends gathering together.  Don’t let your holiday decorations overwhelm your rooms, but low-key reminders of the season can help.

More People do Internet Home Searches During the Holidays

Traffic on real estate websites increases significantly during the holidays.  People have more time to spend online, so make sure your home is well represented on the Internet.

You May Get More for Your Home

Redfin did a study of over one million home sales and discovered some interesting facts.  When homes were listed from December 21 through March 21, they had:

These aren’t hard and fast rules, but they go a long way toward dispelling the myth that the Spring is the best time to sell.

You Don’t Need to Ruin Your Holiday to Sell Your Home

If you’re traveling over the holidays, you have no problem with showing your home.  But, even if you’re staying at home, you can set boundaries to ensure that your family enjoys the holiday as much as everyone else.  Normally, setting restrictions on showing a home isn’t tolerated very well by buyers.  During the holidays, it’s much easier to set showing times and black out dates because everyone understands the problem.

Are You Ready to Sell?

If you’re ready to sell, hopefully this information has been helpful.  If you’d rather not wait until Spring, the local Davie real estate experts on Teri’s Real Estate Team can help you capitalize on the season.  Just call us at 954-242-8030 or send an email!


From all of us on Teri’s Real Estate Team,
we wish you the best during the holiday season!



Please fill out the form below and we will be contacting you shortly
with information about your home.

Personal Info
Home Address