Author: Marathon Florida Keys Mortgage

Checklist for Getting Your House Ready To Sell

Written by Marathon Florida Keys Mortgage on September 13, 2024. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

Some Highlights Getting your house ready to sell? Here’s a few tips on what you may want to do to prepare. Focus on making it inviting, showing it’s cared for, and boosting your curb appeal. If you want specific advice to help your house stand out in your local market, connect with a real estate professional.?

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What To Know About Closing Costs

Written by Marathon Florida Keys Mortgage on September 12, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Now that you’ve decided to buy a home and are ready to make it happen, it’s a good idea to plan ahead for the costs that are a typical part of the homebuying process. And while your down payment is probably the number one expense on your mind, don’t forget about closing costs. Here’s what you need to know. What Are Closing Costs? Simply put, your closing costs are the additional fees and payments you have to make at closing. And while they’ll vary based on the price of the home and how it’s being financed, every buyer has these, so they shouldn’t be a surprise. It’s just that some...

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The Real Story Behind What’s Happening with Home Prices

Written by Marathon Florida Keys Mortgage on September 11, 2024. Posted in For Buyers, For Sellers, Home Prices, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re wondering what’s going on with home prices lately, you’re definitely not the only one. With so much information out there, it can be hard to figure out your next move. As a buyer, you might be worried about paying more than you should. And if you’re thinking of selling, you might be concerned about not getting the price you’re aiming for. So, here’s a quick breakdown to help clear things up and show you what’s really happening with prices—whether you’re thinking about buying or selling. Home Price Growth Is Slowing, but Prices Aren’t Falling Nationally...

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Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List

Written by Marathon Florida Keys Mortgage on September 10, 2024. Posted in Affordability, Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax returns, credit score, and bank statements, to figure out what they’re willing to loan you. After that process, you’ll get a pre-approval letter to show what you can borrow. Here are two reasons why this is essential in today’s market. Pre-Approval Helps You Know Your Numbers While home...

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The Surprising Amount of Home Equity You’ve Gained over the Years

Written by Marathon Florida Keys Mortgage on September 9, 2024. Posted in For Sellers, Home Prices, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s housing market – and that’s affordability. If that’s your biggest concern, understanding how much equity you have in your house could help make your decision that much easier. Here are two key factors that have a big impact on your equity. How Long You’ve Been in Your Home First up is homeowner tenure. That’s how long homeowners live in a house, on average, before selling or choosing to move. From 1985 to...

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Early Forecasts for the 2025 Housing Market Infographic

Written by Marathon Florida Keys Mortgage on September 6, 2024. Posted in Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Thinking about making a move in 2025 and wondering what you can expect? Here’s what expert forecasts say lies ahead. Mortgage rates will come down slightly. More homes will sell. And prices will rise more moderately. Connect with a local agent to discuss what these forecasts mean for your move and what to expect from your local market in 2025.

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The Latest on the Luxury Home Market

Written by Marathon Florida Keys Mortgage on September 5, 2024. Posted in Buying Tips, For Buyers, Luxury / Vacation, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Luxury living is about more than just stunning views and cutting-edge smart home technology—it’s about elevating your lifestyle. And if you’re in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here’s why. The Number of Luxury Homes Is Growing The top of the market, or luxury homes, can mean different things depending on where you live. But in general, these are homes that are in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million...

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How the Federal Reserve’s Next Move Could Impact the Housing Market

Written by Marathon Florida Keys Mortgage on September 4, 2024. Posted in Agent Value, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Now that it’s September, all eyes are on the Federal Reserve (the Fed). The overwhelming expectation is that they’ll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that inflation is cooling, and the job market is slowing down. Mark Zandi, Chief Economist at Moody’s Analytics, said: “They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.” But what does this mean for the housing market, and more importantly, for you as a potential homebuyer or seller? Why a Federal Funds Rate Cut Matters The...

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Should You Sell Now? The Lifestyle Factors That Could Tip the Scale

Written by Marathon Florida Keys Mortgage on September 3, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

Are you on the fence about whether to sell your house now or hold off? It’s a common dilemma, but here’s a key point to consider: your lifestyle might be the biggest factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to make the leap sooner rather than later. An annual report from the National Association of Realtors (NAR) offers insight into why homeowners like you chose to sell. All of the top reasons are related to life changes. As the graph below highlights: As the visual shows, the biggest motivators were the...

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Could a 55+ Community Be Right for You?

Written by Marathon Florida Keys Mortgage on September 2, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you. Here’s some information that could help you make your decision. What Is a 55+ Community? It’s important to note that these communities aren’t just for people who need extra support – they can be pretty vibrant, too. Many people who are downsizing opt for this type of home because they’re looking to be surrounded by people in a similar season of life. U.S. News explains: “The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities’ and ‘planned...

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How To Avoid Today’s Top Seller Mistakes

Written by Marathon Florida Keys Mortgage on August 30, 2024. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

Some Highlights Want to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too? The biggest missteps are pricing a house too high, skipping repairs, not being objective, and not being willing to negotiate. And the best way to avoid falling into any of these traps is to partner with a real estate agent and lean on them for advice.

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Are We Heading into a Balanced Market?

Written by Marathon Florida Keys Mortgage on August 29, 2024. Posted in For Buyers, For Sellers, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know. What Is a Balanced Market? A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more...

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2025 Housing Market Forecasts: What To Expect

Written by Marathon Florida Keys Mortgage on August 28, 2024. Posted in For Buyers, For Sellers, Forecasts, Home Prices, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Looking ahead to 2025, it’s important to know what experts are projecting for the housing market. And whether you’re thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans. Here’s an early look at the most recent projections on mortgage rates, home sales, and prices for 2025. Mortgage Rates Are Projected To Come Down Slightly Mortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association...

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What’s the Impact of Presidential Elections on the Housing Market?

Written by Marathon Florida Keys Mortgage on August 27, 2024. Posted in Economy, For Buyers, For Sellers, Home Prices, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move. Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth...

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What Mortgage Rate Are You Waiting For?

Written by Marathon Florida Keys Mortgage on August 26, 2024. Posted in Affordability, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below): And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect. Expert Projections for Mortgage Rates Experts say the overall downward trend should continue as long...

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How Growing Inventory Benefits Today’s Buyers

Written by Marathon Florida Keys Mortgage on August 23, 2024. Posted in For Buyers, Infographics, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights While the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal.? Here’s what that means when you buy: more options for your search, more negotiation power for you, it’s more likely sellers will make select repairs, and more moderate price growth. If you want to talk more about what rising inventory means for you, connect with a local real estate agent.

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Today’s Biggest Housing Market Myths

Written by Marathon Florida Keys Mortgage on August 22, 2024. Posted in Buying Tips, Economy, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important. If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove. 1. I’ll Get a Better Deal Once Prices Crash If you’ve heard home prices...

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The Number One Mistake Sellers Are Making: Overpricing Their House

Written by Marathon Florida Keys Mortgage on August 21, 2024. Posted in For Sellers, Home Prices, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

In today’s housing market, many sellers are making a critical mistake: overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest. Data from Realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing (see graph below): If you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with a trusted...

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How To Choose a Great Local Real Estate Agent

Written by Marathon Florida Keys Mortgage on August 20, 2024. Posted in Agent Value, For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Selecting the right real estate agent can make a world of difference when buying or selling a home. But how do you find the best one? Here are some tips to help you make that big decision as you determine your partner in the process. Check Their Reputation Start by gathering information about agents in your area. From there, try to narrow down the list. Ask the people you trust if they have someone they’d recommend. You’ll want to find an agent with a strong online presence, plenty of positive reviews, and someone whose great reputation truly precedes them. As Freddie Mac explains:...

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How Mortgage Rate Changes Impact Your Homebuying Power

Written by Marathon Florida Keys Mortgage on August 19, 2024. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind. That’s because you’ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that into your planning. Here’s what you need to know. What’s Happening with Mortgage Rates? Mortgage rates have been trending down recently. While that’s good news for your homebuying plans, it’s important to know that rates can be unpredictable because they’re affected by many factors. Things like the economy, job market, inflation, and decisions...

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3 Reasons To Move in Today’s Shifting Market

Written by Marathon Florida Keys Mortgage on August 16, 2024. Posted in For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Some Highlights The housing market is in a transition. And that gives you 3 key opportunities going into the fall. There are more homes actively for sale. Builders are motivated to sell, so a newly built home may be more achievable than you think. And mortgage rates have come down from their recent peak. If you’re ready and able to buy, you may find the housing market this fall a bit easier to navigate. Connect with an agent to get started.?

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What Credit Score Do You Really Need To Buy a House?

Written by Marathon Florida Keys Mortgage on August 15, 2024. Posted in Agent Value, Buying Tips, First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

When you’re thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says: “Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage.” The trouble is most buyers overestimate the minimum credit score they need to buy a home....

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