Author: Marathon Florida Keys Mortgage

The Surprising Trend in the Number of Homes Coming onto the Market

Written by Marathon Florida Keys Mortgage on December 13, 2023. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re thinking about moving, it’s important to know what’s happening in the housing market. Here’s an update on the supply of homes currently for sale. Whether you’re buying or selling, the number of homes in your area is something you should pay attention to. In the housing market, there are regular patterns that happen every year, called seasonality. Spring is the peak homebuying season and also when the most homes are typically listed for sale (homes coming onto the market are known in the industry as new listings). In the second half of each year, the...

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Down Payment Assistance Programs Can Help Pave the Way to Homeownership

Written by Marathon Florida Keys Mortgage on December 12, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. According to the National Association of Realtors (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think: Data from NAR shows the median down payment hasn’t been over 20% since 2005. In fact, the median down payment for all homebuyers today is only 15%. And it’s even lower for first-time homebuyers at 8%. But just because that’s the median, it doesn’t mean you have to put that much down....

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The Perfect Home Could Be the One You Perfect After Buying

Written by Marathon Florida Keys Mortgage on December 11, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

There’s no denying mortgage rates and home prices are higher now than they were last year and that’s impacting what you can afford. At the same time, there are still fewer homes available for sale than the norm. These are two of the biggest hurdles buyers are facing today. But there are ways to overcome these things and still make your dream of homeownership a reality. As you set out to make a purchase this season, you’ll want to be strategic. This includes taking a close look at your wish list and considering what features you really need in your next home versus which ones are...

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Your Homebuying Adventure [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on December 8, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights Here are the key milestones you’ll encounter on your path to homeownership. From building your team, to house hunting, all the way to moving into your new home – it’s an exciting adventure. Your journey starts here. Connect with a local real estate agent so you have expert guidance each step of the way.

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Why You Need To Use a Real Estate Agent When You Buy a Home

Written by Marathon Florida Keys Mortgage on December 7, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’ve recently decided you’re ready to become a homeowner, chances are you’re trying to figure out what to do first. It can feel a bit overwhelming to know where to start, but the good news is you don’t have to navigate all of that alone. When it comes to buying a home, there are a lot of moving pieces. And that’s especially true in today’s housing market. The number of homes for sale is still low, and home prices and mortgage rates are still high. That combination can be tricky if you don’t have reliable expertise and a trusted advisor on your side. That’s why the best place to start...

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How To Turn Homeownership into a Side Hustle

Written by Marathon Florida Keys Mortgage on December 6, 2023. Posted in Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

Does the rising cost of just about everything these days make your dream of owning your own home feel less within reach? According to Bankrate, many people are seeking additional income through side hustles, possibly to cope with those increasing expenses and save for a home. This trend is particularly popular with younger individuals who may be dealing with student loan debt (see graph below): Here are two strategies that can not only make homeownership more affordable in the short term, but turn it into a lucrative side hustle that can pay off down the road. Transforming the Challenge...

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When You Sell Your House, Where Do You Plan To Go?

Written by Marathon Florida Keys Mortgage on December 5, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re thinking about selling your house, you may have heard the supply of homes for sale is still low, and that means your house should stand out to buyers who are craving more options. But you may also be wondering, once you sell, how does the current supply impact your own move? And, will you be able to find a home you want to buy with inventory this low? One thing that can help you find your next home is exploring all your options, including both homes that have been lived in before as well as newly built ones. Let’s look at the benefits of each one. The Pros of Newly Built Homes...

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Experts Project Home Prices Will Rise over the Next 5 Years

Written by Marathon Florida Keys Mortgage on December 4, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them. To help ease that concern, here’s what the experts say will happen with home prices not just next year, but over the next five years. Experts Project Ongoing Appreciation While seeing a small handful...

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3 Reasons To Sell Your House Before the New Year [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on December 1, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Some Highlights Here are a few reasons you may not want to hold off until the new year to sell your house. Buyers looking right now are highly motivated, the supply of homes for sale is still low, and you may find buyers are more flexible with showings this time of year. Reach out to a real estate agent to determine if selling your house now is the right move for you.

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Is Owning a Home Still the American Dream for Younger Buyers?

Written by Marathon Florida Keys Mortgage on December 1, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Everyone has their own idea of the American Dream, and it’s different for each person. But, in a recent survey by Bankrate, people were asked about the achievements they believe represent the American Dream the most. The answers show that owning a home still claims the #1 spot for many Americans today (see graph below): In fact, according to the graph, owning a home is more important to people than retiring, having a successful career, or even getting a college degree. But is the dream of homeownership still alive for younger generations? A recent survey by 1000watt dives into how...

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Why the Economy Won’t Tank the Housing Market

Written by Marathon Florida Keys Mortgage on November 29, 2023. Posted in Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re worried about a coming recession, you’re not alone. Over the past couple of years, there’s been a lot of recession talk. And many people worry, if we do have one, it would cause the unemployment rate to skyrocket. Some even fear that a spike in unemployment would lead to a rash of foreclosures similar to what happened 15 years ago. However, the latest Economic Forecasting Survey from the Wall Street Journal (WSJ) reveals that, for the first time in over a year, less than half (48%) of economists believe a recession will actually occur within the next year: “Economists are turning...

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Are The Top 3 Housing Market Questions on Your Mind?

Written by Marathon Florida Keys Mortgage on November 28, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Selling Myths.

When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in. Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them. 1. What’s Next for Mortgage Rates?...

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Is Wall Street Buying Up All the Homes in America?

Written by Marathon Florida Keys Mortgage on November 27, 2023. Posted in Buying Myths, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking about buying a home, you may find yourself interested in the latest real estate headlines so you can have a pulse on all of the things that could impact your decision. If that’s the case, you’ve probably heard mention of investors, and wondered how they’re impacting the housing market right now. That could leave you asking yourself questions like: How many homes do investors own? Are institutional investors, like large Wall Street Firms, really buying up so many homes that the average person can’t find one? To answer those questions, here’s the real story of what’s...

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Why Homeowners Feel Thankful for Their Homes [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on November 24, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Here are three reasons why homeowners feel thankful for their homes. First, it’s a safe place that can give you a greater sense of comfort, safety, and security. Second, it gives you freedom of expression. From the color of the paint to the art on the walls, you can express your style and your personality. Third, it provides a sense of community. Owning your home helps you build lasting friendships with neighbors and connects you to your community. If you’re thinking of buying a home and want to hear more about the potential benefits, talk with a local real estate...

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Why Homeowners Are Thankful They Own

Written by Marathon Florida Keys Mortgage on November 23, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Countless people have set out on the exciting journey of homeownership. Ask around and you’ll find the vast majority are thankful they took the leap and bought a home. But why? It’s because of the many emotional and lifestyle benefits that come with being a homeowner. So, if you’re trying to decide if you want to rent or buy a home, here are just a few of the many benefits you could look forward to if you buy. It’s a Safe Haven Owning a home goes beyond just having a roof over your head. It provides a sense of security and safety. In fact, in a survey from Fannie Mae, respondents say...

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Home Prices Still Growing – Just at a More Normal Pace

Written by Marathon Florida Keys Mortgage on November 22, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise. Some people are still saying prices are falling, even though data proves otherwise. Part of that misconception is because people are getting their information from unreliable sources. But it’s also coming from some media coverage misrepresenting what the data really shows. So, to keep things simple, here’s what you really need to know using real data you can trust. Normal Home Price Seasonality Explained In the housing market, there are predictable ebbs and flows that happen each year. It’s called...

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Are There Actually More Homes for Sale Right Now?

Written by Marathon Florida Keys Mortgage on November 21, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re looking to make a move, you want to be sure you have the latest information on the housing market. To help make that possible, here’s an update on the supply of homes for sale today. Whether you’re looking to buy or sell, the number of homes available in your local market matters to you. Take a look below. What’s the Truth About Today’s Housing Inventory? While the story for the past few years has been how few homes are on the market, recent national data may leave you feeling a bit confused. That’s because Realtor.com shows inventory is actually growing a bit month-over-month...

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Is Your House the Top Thing on a Buyer’s Wish List this Holiday Season?

Written by Marathon Florida Keys Mortgage on November 20, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

This time every year, homeowners who are planning to move have a decision to make: sell now or wait until after the holidays? Some sellers with homes already on the market may even remove their listing until the new year. But the truth is, many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for. As an article from Fortune Builders explains: “ . . . while a majority of people take a step back from the real estate market during the holiday months, you may find when the temperature drops, your potential for a great real estate deal starts to...

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2024 Housing Market Forecast [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on November 17, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Some Highlights Thinking of buying or selling a house and wondering what the new year holds for the housing market? Experts forecast home prices to end this year up 2.8% and to rise another 1.5% in 2024. And climbing prices help make homeownership a good investment. Plus, home sales are projected to increase in 2024. That’s good news because it means experts are forecasting more activity as people continue to move. If you’re planning to buy or sell, it’s helpful to know what experts project for the housing market. Connect with a local real estate agent to talk about the latest...

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People Are Still Moving, Even with Today’s Affordability Challenges

Written by Marathon Florida Keys Mortgage on November 16, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are rising. That much is true. Take a look at the graph below. It breaks down how the current affordability situation stacks up to recent years. The National Association of Realtors (NAR) explains how to read the values on the graph: “To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced...

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The Latest 2024 Housing Market Forecast

Written by Marathon Florida Keys Mortgage on November 15, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home. If you want to make the most informed decision possible, it’s important to know what the experts have to say about what’s ahead for the housing market. Spoiler alert: the projections may be better than you think. Here’s why. Experts Forecast Ongoing Home Price Appreciation Take a look at the latest home price forecasts from Fannie Mae, the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR): As you can see in the orange bars on...

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These Top Cities Show Home Prices Are Still Climbing

Written by Marathon Florida Keys Mortgage on November 14, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

If you’re considering buying a home or selling your current one to find something that better suits your needs, you may have questions about what’s happening with home prices today. Here’s what you need to know. There’s still a lot of confusion and misinformation out there. So, no matter what you may have heard, the national data shows they’ve actually been climbing again (see graphs below): As you can see, in the first half of 2022, home prices went way up. Those increases were dramatic and unsustainable. So, in the second half of 2022, prices adjusted. Those dips were small and...

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