Chuck Barberini Real Estate

If you’re planning to buy a home this year, there’s one expense you can’t afford to overlook: closing costs . Almost every buyer knows they exist, but not that many know exactly what they cover, or how different they can be based on where you're buying. So, let’s break them down. What Are Closing Costs? Your closing costs are the additional fees and payments you make when finalizing your home purchase. Every buyer has them. According to Freddie Mac , they typically include things like homeowner insurance and title insurance, as well as various fees for your: Loan application Credit report Loan origination Home appraisal Home inspection Property survey Attorney National vs. Local: Why the Numbers Look So Different When you search for information about closing costs online, you’ll often see a national range, usually 2% to 5% of the home’s purchase price. While that’s a useful starting point if you’re working on your homebuying budget, it doesn’t tell the whole story. In reality, your...

    There’s a new divide in housing right now. In some states, buyers are gaining ground. In others, sellers still have the upper hand. It all depends on where you live. Curious what's happening in your state? These 3 maps show how the split is playing out across the country. In each one: Darker Shades of Blue  = Buyer friendly Lighter Shades of Blue  = Seller strong Inventory Sets the Stage While the number of homes for sale has improved pretty much across the board, how much growth we’ve seen can look dramatically different based on where you live. And that impacts who has the leverage today. This map uses data from  Realtor.com  to break it down: The darker shades of blue  show where inventory has risen more than in other areas of the country.  Buyers  here have more to choose from and should have an easier time finding a home and leveraging their negotiating power. The lighter shades of blue  are where inventory is still low.  S...

    For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them. But there’s some encouraging news. If you’ve been waiting for a better time to jump back in,  affordability may finally be showing signs of improvement this fall. The latest data from  Redfin  shows the typical monthly mortgage payment has been coming down, and is now about  $290 lower than it was just a few months ago  ( see graph below ): And here’s why this is happening. The cost of buying a home really comes down to three things: Mortgage rates Home prices Your wages Right now, all three are finally moving in a better direction for you. While that doesn’t mean it’s suddenly easy to buy at today’s rates and prices, it does mean it’s not as challenging. 1. Mortgage Rates Mortgage rates  have come down compared...

  “Just Thinking" It's the edge of the world and all of western civilization The sun may rise in the East, at least it settles in the final location Psychic spies from China try to steal your mind's elation And little girls from Sweden Dreams of silver screen quotation And if you want these kinds of dreams, it's Californication I was talking with a friend the other day who told me about a relative who sold their home in California and moved to Tennessee. She mentioned that they started looking at homes in Tennessee over three years ago, and because of the influx, blame California, the price of housing there has gone up exponentially. I’ve heard the same thing about Idaho, Nevada, Texas, and Florida. Meanwhile, the cost of housing in California may have leveled out, but it remains one of the highest in the country. California has countless attractions. Whenever I travel throughout the state, I’m blown away by its natural beauty. I enjoy visiting other states, but I’m al...

Check Out This Weeks Newsletter For the first time since December 19, 2024, the Fed has decided on a rate cut. And as predicted by the CME Group & Polymarket, Committee members chose a 25 basis point cut. Don’t expect a steep drop in interest rates on the heels of this announcement, though. This cut, though long in coming, was widely expected for September, mainly due to weakening in the labor market. It probably didn’t hurt, either, that President Trump’s newest appointee, Stephen Miran, was sworn in with immediate voting power on Tuesday and participated in the Committee vote. Miran, an economist and investment strategist, replaces Fed governor Adrianna Kugler, who resigned in August. Powell’s prepared remarks at the press conference mentioned housing only briefly, noting that “activity in the housing sector remains weak.” And the word “uncertainty” came up more than once in his responses to reporters. But he did point out that the median participant projected the federal funds r...

    Want to know something important you probably don’t have a professional check for you nearly as often as you should? Spoiler alert: it’s the value of your home. Because here’s the reality. Your house is likely the biggest financial asset you have. And if you’ve lived in it for a few years or more, chances are it’s been quietly building wealth for you in the background – even if you haven’t been keeping tabs on it. You might be surprised by just how much it’s grown, even as the market has shifted over the past few months. What Is Home Equity? That hidden wealth in your home is called  equity . It’s the difference between what your house is worth today and what you still owe on your mortgage. Your equity grows over time as home values rise and as you make your monthly payments. Here’s an example to help you really understand how the math works. Let’s say your house is now worth $500,000, and you have $200,000 left to pay off on your loan. That means you have $300,000 in...

  Mortgage rates are finally heading in the right direction – and buyers are starting to jump back in. According to the data, buyer demand picked up considerably once mortgage rates hit a new low for 2025. The  Mortgage Bankers Association  (MBA)  reports  that  applications for home loans were up 23% compared to the first week of September last year . If you’ve been waiting to sell, or your listing recently expired because the market was slower than you hoped it would be, now’s the time to reconsider your move . Buyer demand is the highest it’s been since July  –  and you don’t want to miss this window. When Rates Drop, Buyers React  Here’s what’s happening. The 30-year mortgage rate dropped to  6.13%  earlier this week. And that’s   the lowest it had been since  October 2024 . That decline followed weak job growth and other economic indicators that are fueling speculation the  Federal Reserve  may cut the Feder...