What’s included in every real estate update?
Interesting Real Estate Stats
Recommended Articles Of The Month And Why
Real Estate Local News
Interesting Real Estate Stat For This Edition:
Every month we’ll pull an interesting stat for you directly from our MLS for Pinellas County.
Mortgage Rate Drop!
2020 has been a wild ride especially with the news cycle. You may have noticed that the Federal Reserve cut it’s benchmark rate and mortgage rates are lower! According to ycharts.com – the average 30 year mortgage rate is 3.49%. That rate is a big decrease compared to last year when it was 4.37%.
That’s not too far from a 1% difference. You may be wondering how does this translate to savings? According to this article on Money Under 30, a 1% difference in a mortgage rate on a $200,000 home with a $160,000 payoff equates to about $100 extra a month or $30,000 in interest over the life of the loan.
That means even more savings if you are financing a higher dollar home! Historically, people take advantage of these moments with refinancing and it can also present a prime opportunity to buy a home when rates are low.
Investing Continues Around Downtown St. Pete
It’s a real good time to live in or around downtown St. Pete right now. When you see so many different entities working hard on this city, it creates a lot of excitement!
One of the things I’m most excited about is the grand opening of the new pier. Not only has this been highly anticipated but it’s just going to add another WOW factor to St. Pete’s already beautiful landscape.
Currently the plan is to do a grand opening sometime during the summer. The new pier will span 26 acres and it will be the largest waterfront park in the Southeast. St. Petersburg Mayor Rick Kriseman said “I think this is going to be our new Millennial Park, our new Central Park, and we’re a city of parks.”
When communities come together, magic happens! It’s a truly amazing to witness the revival of downtown St. Pete and it’s effects and inspiration on the rest of Pinellas County. People are excited to live here and make it a better area.
I hope you’ve been enjoying our newsletter! As always, our goal is to keep you up to date and give you as much information as we can about our little tropical paradise. If you have questions or if you are ready to start your real estate search we are always here to help.
Recommended Articles Of The Month:
For this update, we’ll highlight some must-reads we’ve written:
Top 8 Reasons To Move To Shore Acres, St. Pete, Florida – Looking for an amazing walkable neighborhood surrounded by water? Check out our article highlighting the top reasons Shore Acres may be the perfect neighborhood for you.
Top 10 Things To Do After Moving To St. Pete Florida – After you move here there’s a ton to take in and do! Here’s our list of the top 10 things you can do after moving to the Sunshine City!
Here are some news stories you may love!
A New Food Hall Concept Is Coming To The Sundial – The Sundial is continuing to shape the food culture of St. Pete with this new concept!
Sunshine Kitty Catfe Is Opening – St. Pete has been known as dog-friendly for sometime but recently a new space is opening for cat owners to hang out!
Receive The Newsletter First:
Do you want to receive the newsletter as soon as it’s published on the website? Sign up below by clicking the image or filling out the form below!