Author: Marathon Florida Keys Mortgage

Bridging the Gaps on the Road to Homeownership

Written by Marathon Florida Keys Mortgage on February 13, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Homeownership is a major part of the American Dream. But, the path to achieving this dream can be quite difficult. While progress has been made to improve fair housing access, households of color still face unique challenges on the road to owning a home. Working with the right real estate experts can make all the difference for diverse buyers. It’s clear that achieving homeownership is more challenging for certain groups because there’s still a measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, Black households continue to have the...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What’s Really Happening with Mortgage Rates?

Written by Marathon Florida Keys Mortgage on February 12, 2024. Posted in Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true. The simplest answer is: that what you read or hear will vary based on the time frame they’re looking at. Here’s some information that can help clear up the confusion. Mortgage Rates Are Volatile by Nature Mortgage rates don’t move in a straight line. There are too many factors at play for that to happen. Instead, rates...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Winning Plays for Buying a Home in Today’s Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on February 9, 2024. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights In today’s housing market, you can still come out on top if you have the right team and plan. To win when buying a home, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd. Connect with a local real estate agent today to make your winning move.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Home Equity Can Be a Game Changer When You Sell

Written by Marathon Florida Keys Mortgage on February 8, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier. An article from Bankrate explains: “Home equity is the difference between your home’s value and the amount you still owe on your mortgage. It represents the paid-off portion of your home. You’ll start off with a certain level of equity when you make your down payment to buy the home, then continue to build equity as you pay down your mortgage. You’ll...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Pre-Approval Is Even More Important This Year

Written by Marathon Florida Keys Mortgage on February 7, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024. What Pre-Approval Is As part of the homebuying process, your lender will look at your finances to figure out what they’re willing to loan you. According to Investopedia, this includes things like your W-2, tax returns, credit score, bank statements, and more. From there, they’ll give you a pre-approval letter to help you understand how much money you can borrow. Freddie Mac explains it like...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Houses Are Still Selling Fast

Written by Marathon Florida Keys Mortgage on February 6, 2024. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn’t as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal. The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Having Your Own Agent Matters When Buying a New Construction Home

Written by Marathon Florida Keys Mortgage on February 5, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, New Construction.

Finding the right home is one of the biggest challenges for potential buyers today. Right now, the supply of homes for sale is still low. But there is a bright spot. Newly built homes make up a larger percent of the total homes available for sale than normal. That’s why, if you’re craving more options, it makes sense to see if a newly built home is right for you. But it’s important to remember the process of working with a builder is different than buying from a homeowner. And, while builders typically have sales agents on-site, having your own agent helps make sure you have proper...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

There’s No Foreclosure Wave in Sight [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on February 2, 2024. Posted in Foreclosures, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Headlines saying foreclosures are rising might make you feel uneasy. But the truth is, there’s no need to worry. If you look at the latest numbers, they’re still below pre-pandemic norms and way below what happened during the crash. If you’re worried about a flood of foreclosures, the data shows a foreclosure crisis is not where the market is today and is not where it’s headed.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Don’t Wait Until Spring To Sell Your House

Written by Marathon Florida Keys Mortgage on February 1, 2024. Posted in For Sellers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here’s why. 1. Take Advantage of Lower Mortgage Rates Last October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving more affordable now than it was just a few months ago. Another reason...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Foreclosure Activity Is Still Lower than the Norm

Written by Marathon Florida Keys Mortgage on January 31, 2024. Posted in Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story. The truth is, if you compare the current numbers with what usually happens in the market, you’ll see there’s no need to worry. Putting the Headlines into Perspective The increase the media is calling attention to is misleading. That’s because they’re only comparing the most recent numbers to a time where foreclosures were at historic lows. And that’s making...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

2 of the Factors That Impact Mortgage Rates

Written by Marathon Florida Keys Mortgage on January 30, 2024. Posted in For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why? The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play. Inflation and the Federal Reserve The Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Will a Silver Tsunami Change the 2024 Housing Market?

Written by Marathon Florida Keys Mortgage on January 29, 2024. Posted in Demographics, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Have you ever heard the term “Silver Tsunami” and wondered what it’s all about? If so, that might be because there’s been lot of talk about it online recently. Let’s dive into what it is and why it won’t drastically impact the housing market. What Does Silver Tsunami Mean? A recent article from HousingWire calls it: “. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .” The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 26, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Some Highlights Home affordability depends on three factors: mortgage rates, home prices, and wages. Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual. That’s good news if you want to buy a home because it means affordability is getting better.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Top Benefits of Buying a Multi-Generational Home

Written by Marathon Florida Keys Mortgage on January 25, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too. Why Buyers Are Opting for Multi-Generational Living According to the National Association of Realtors (NAR), two of the top reasons buyers are opting for multi-generational homes today have to do with affordability (see graph below): First-time buyers are focused most on...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Are More Homeowners Selling as Mortgage Rates Come Down?

Written by Marathon Florida Keys Mortgage on January 24, 2024. Posted in Buying Myths, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale. The Mortgage Rate Lock-In Effect Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up. An article from Freddie Mac explains: “The lack of housing supply was partly driven by the rate lock-in...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Experts Project Home Prices Will Increase in 2024

Written by Marathon Florida Keys Mortgage on January 23, 2024. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too. To help ease that concern, here’s what experts forecast will happen with prices this year. Experts Project a Modest Increase Check out the latest home price forecasts from eight different sources (see graph below): The blue bar on the left means, on...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

3 Must-Do’s When Selling Your House in 2024

Written by Marathon Florida Keys Mortgage on January 22, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home. A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best practices in mind when you’re ready to sell. 1. Price Your Home Right The housing market shifted in 2023 as mortgage rates rose and home price appreciation started to normalize once again. As a seller, you still need to recognize how important it is to price your...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Key Terms Every Homebuyer Should Learn [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 19, 2024. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights Buying a home is a big deal and can feel especially complicated if you don’t know the terms used during the process. If you want to become a homeowner this year, it’s a good idea to learn these key housing terms and understand how they relate to the current housing market. That will help you feel confident when you buy a home. Connect with a local real estate agent so you can get expert help with any questions you have.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

3 Key Factors Affecting Home Affordability

Written by Marathon Florida Keys Mortgage on January 18, 2024. Posted in Buying Myths, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more to being able to afford a home than just mortgage rates. To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages. Let’s dive into the latest data on each one to see why affordability is improving. 1. Mortgage Rates Mortgage rates have come...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers

Written by Marathon Florida Keys Mortgage on January 17, 2024. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now (see graph below): And while they’re not going back to the 3% we saw during the ‘unicorn’ years, they are expected to continue to go down from where they are now in the near future. As Dean Baker, Senior Economist at the Center for Economic Research, explains: “It also appears that mortgage rates are now...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why You May Want To Seriously Consider a Newly Built Home

Written by Marathon Florida Keys Mortgage on January 16, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why. Near-Record Percentage of New Home Inventory Newly built homes are becoming an increasingly significant part of today’s housing inventory. According to the most recent report from the National Association of Home Builders (NAHB): “Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Homeownership Is Still at the Heart of the American Dream

Written by Marathon Florida Keys Mortgage on January 15, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Buying a home is a powerful decision, and it remains at the heart of the American Dream. Unlike renting, owning a home means more than just having a place to live – it offers a sense of belonging, stability, and freedom. According to Nicole Bachaud, Senior Economist at Zillow: “The American Dream is still owning a home. There’s a lot of pent-up demand for ownership; that isn’t going to go away.” Let’s explore just a few of the reasons why so many Americans continue to value homeownership. The Financial Benefits of Owning a Home One possible reason homeownership is viewed so highly is...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl