Author: Marathon Florida Keys Mortgage

Growing Your Net Worth with Homeownership

Written by Marathon Florida Keys Mortgage on October 12, 2023. Posted in Buying Myths, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Take a moment to imagine where you want to be in a few years. You might be thinking about your job, money, wanting more stability, or goals you want to reach soon. Is homeownership a part of that vision? If it is, you should know owning a home has a whole lot of financial benefits. One of the many reasons to buy a home is that it’s a great way to build wealth and gain financial stability. That’s because the value of most homes increases over time, which in turn grows your net worth. Here’s how home values are rising right now. According to Zillow: “The total value of the U.S. housing...

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The Latest Expert Forecasts for Home Prices in 2023

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

Are you thinking about making a move? If so, all the speculation that home prices would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren’t in a downward spiral and will actually finish the year strong. Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn’t happened. The big reason why is the supply of homes for sale is too low. There are just more buyers looking to buy than homes available, and that’s kept prices from falling. To prove this year wasn’t a bust for home...

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Are Grandparents Moving To Be Closer to Their Grandkids?

Written by Marathon Florida Keys Mortgage on October 10, 2023. Posted in Baby Boomers, Demographics, For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

During the pandemic, many people distanced themselves from their loved ones for health reasons. Grandparents were told to stay away from their grandkids, especially as schools started to open. That’s because it would have been risky to visit with their grandchildren who may have gotten sick from school. Now that the pandemic has passed, many grandparents want more than ever to be near their grandchildren again to make up for that lost time. But how are they getting that “Grandparent Wish?” The data tells us many are moving to make sure they’re getting more quality time. Grandparents Are...

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Key Skills You Need Your Listing Agent To Have

Written by Marathon Florida Keys Mortgage on October 9, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Selling your house is a big decision. And that can make it feel both exciting and a little bit nerve-wracking. But the key to a successful sale is finding the perfect listing agent to work with you throughout the process. A listing agent, also known as a seller’s agent, helps market and sell your house while advocating for you every step of the way. But, how do you know you’ve found the perfect match in an agent? Here are three key skills you’ll want your listing agent to have. They Price Your House Based on the Latest Data While it may be tempting to pick the agent who...

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How Homeowner Net Worth Grows with Time [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 6, 2023. Posted in Buying Myths, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re thinking about buying a home this year, be sure to consider the long-term financial advantages of homeownership, like home equity. On average, people who bought homes 32 years ago have seen their home’s value nearly triple over that time. If you’re wondering if buying a home is a good idea, remember rising home values could grow your net worth with time. When you’re ready to start your homebuying journey, talk with a local real estate professional.

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Are You a Homebuyer Worried About Climate Risks?

Written by Marathon Florida Keys Mortgage on October 5, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

The increasing effects of natural disasters are leading to new obstacles in residential real estate. As a recent article from CoreLogic explains: “As the specter of climate change looms large, the world braces for unprecedented challenges. In the world of real estate, one of those challenges will be the effects of natural catastrophes on property portfolios, homeowners, and communities.” That may be why, according to Zillow, more and more Americans now consider how climate risks and natural disasters can impact their homeownership plans (see below): This study goes on to explain that...

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Understanding the Benefits of Owning Your First Home

Written by Marathon Florida Keys Mortgage on October 4, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Are you considering buying your first home? If so, it can be helpful to know what led other people to make that decision. According to a recent survey of first-time homebuyers by PulteGroup: “When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.” While that survey looked specifically at first-time homebuyers buying newly built homes, the same sentiment is true for just about anyone buying their...

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Home Prices Are Not Falling

Written by Marathon Florida Keys Mortgage on October 3, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023. The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. All of this negative news coverage made a lot of people have doubts about the strength of the residential real estate market. If it made you question if you should delay your own plans to move, here’s what you really need to know. Home Prices Never Crashed Disregard what you saw in the headlines. The actual data shows home prices were remarkably resilient and performed far...

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Unpacking the Long-Term Benefits of Homeownership

Written by Marathon Florida Keys Mortgage on October 2, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking about buying a home soon, higher mortgage rates, rising home prices, and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now. While those market factors are important, there’s more to consider. You should think about the long-term benefits of homeownership too. Think about this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension,...

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Explaining Today’s Low Housing Supply [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 29, 2023. Posted in Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, New Construction.

Some Highlights Wondering why the supply of homes for sale is limited today? There are a few factors at play. Lack of building over time, the mortgage rate lock-in effect, and people staying in their houses longer are three of the main reasons why supply is low. But real estate agents know exactly where to look and what to do to make your dream a reality. Connect with an agent so you have an expert on your side to help you successfully navigate the market and find your next home.

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Why Your House Didn’t Sell

Written by Marathon Florida Keys Mortgage on September 28, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If your listing expired and your house didn’t sell, you’re likely feeling a little frustrated. Not to mention, you’re also probably wondering what went wrong. Here are three questions to think about as you figure out what to do next. Did You Limit Access to Your House? One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is important when you’re selling your house, even though it might feel a bit stressful to drop everything and leave when buyers want to see it....

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Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

Written by Marathon Florida Keys Mortgage on September 27, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008. One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening. Housing supply comes from three main sources: Homeowners deciding to sell their houses...

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The Return of Normal Seasonality for Home Price Appreciation

Written by Marathon Florida Keys Mortgage on September 26, 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, Pricing, Selling Myths.

If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend. In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the...

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Beginning with Pre-Approval

Written by Marathon Florida Keys Mortgage on September 25, 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 this fall, there are a few things you need to know. Affordability is tight with today’s mortgage rates and rising home prices. At the same time, there’s a limited number of homes on the market right now and that’s creating some competition among buyers. But, if you’re strategic, there are ways to navigate these waters. The first thing you’ll want to do is get pre-approved for a mortgage. That way you’ll know your numbers and can set yourself up for success from the start of your home search. What Pre-Approval Does for You To understand why it’s such an...

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How Remote Work Helps with Your House Hunt [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 22, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights While remote work peaked during the pandemic, many people still work from home today. If you’re one of them, it could have an unexpected benefit when you’re looking to buy a home. If you can work from home, you might have more choices for where to live. Connect with a real estate agent to talk about your options and what’s most important to you.

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The Many Non-Financial Benefits of Homeownership

Written by Marathon Florida Keys Mortgage on September 21, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buying and owning your own home can have a big impact on your life. While there are financial reasons to become a homeowner, it’s essential to think about the non-financial benefits that make a home more than just a place to live. Here are some of the top non-financial reasons to buy a home. According to Fannie Mae, 94% of survey respondents say “Having Control Over What You Do with Your Living Space” is a top reason to own. Your home is truly your own space. If you own a home, unless there are specific homeowner association requirements, you can decorate and change it the way you...

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Remote Work Is Changing How Some Buyers Search for Their Dream Homes

Written by Marathon Florida Keys Mortgage on September 20, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The way Americans work has changed in recent years, and remote work is at the forefront of this shift. Experts say it’ll continue to be popular for years to come and project that 36.2 million Americans will be working remotely by 2025. To give you some perspective, that’s a 417% increase compared to the pre-pandemic years when there were just 7 million remote workers. If you’re in the market to buy a home and you work remotely either full or part-time, this trend is a game-changer. It can help you overcome some of today’s affordability and housing inventory challenges. How Remote...

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Your Home Equity Can Offset Affordability Challenges

Written by Marathon Florida Keys Mortgage on September 19, 2023. Posted in For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know. Bankrate explains exactly what equity is and how it grows: “Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between what the home is worth and how much is still owed on your mortgage. As your...

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Are More Homes Coming onto the Market?

Written by Marathon Florida Keys Mortgage on September 18, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

An important factor shaping today’s market is the number of homes for sale. And, if you’re considering whether or not to list your house, that’s one of the biggest advantages you have right now. When housing inventory is this low, your house will stand out, especially if it’s priced right. But there are some early signs that more listings are coming. According to the latest data, new listings (homeowners who just put their house up for sale) are trending up. Here’s a look at why this is noteworthy and what it may mean for you. More Homes Are Coming onto the Market than Usual It’s well...

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Plenty of Buyers Are Still Active Today [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 15, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Some Highlights Holding off on selling your house because you believe there aren’t any buyers out there? Data shows buyers are still active, even with higher mortgage rates. This goes to show, people still want to buy homes, and those who can are moving now. Don’t delay your plan to sell for fear no one is buying. The opposite is true and buyer traffic is still strong today. Connect with a real estate agent to get your house in front of these buyers.

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Why Is Housing Inventory So Low?

Written by Marathon Florida Keys Mortgage on September 14, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, New Construction.

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why. There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply. Underbuilding Is a Long-Standing Problem One of the big reasons inventory is low is because builders haven’t...

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Should Baby Boomers Buy or Rent After Selling Their Houses?

Written by Marathon Florida Keys Mortgage on September 13, 2023. Posted in Baby Boomers, Buying Myths, Demographics, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest consideration boils down to this – will you buy your next home or choose to rent instead? That decision ultimately depends on your current situation and your future plans. Here are two important factors to help you decide what’s right for you. Expect Rents to Keep...

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