Author: Marathon Florida Keys Mortgage

The Big Advantage If You Sell This Spring

Written by Marathon Florida Keys Mortgage on April 11, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Thinking about selling your house? If you’ve been waiting for the right time, it could be now while the supply of homes for sale is so low. HousingWire shares: “. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .” The National Association of Realtors (NAR) confirms today’s housing inventory is low by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. Anything lower is a sellers’ market. And...

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Homebuyer Activity Shows Signs of Warming Up for Spring

Written by Marathon Florida Keys Mortgage on April 10, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest: “Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.” We know buyer activity is trending up because of mortgage purchase application data. According to Investopedia: “A mortgage application is a document submitted to a lender when you...

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The Key Advantage of Investing in a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 7, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

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Trying To Buy a Home? Hang in There.

Written by Marathon Florida Keys Mortgage on April 6, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

We’re still in a sellers’ market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them. Long-Term Benefits Outweigh Short-Term Challenges Owning a home grows your net worth – and since building that wealth takes time, it makes sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing...

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Why Aren’t Home Prices Crashing?

Written by Marathon Florida Keys Mortgage on April 5, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing. Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change: “[H]ome...

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Two Reasons You Should Sell Your House

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

Wondering if you should sell your house this year? As you make your decision, think about what’s motivating you to consider moving. A recent survey from realtor.com asked why homeowners are thinking about selling their houses this year. Here are the top two reasons (see graphic below): Let’s break those reasons down and explore how they might resonate with you. 1. I Want To Take Advantage of the Current Market and Make a Profit When you decide to sell your house, how much you’ll make from the sale will likely be top of mind. So, here’s some good news: according to the latest data, the...

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How Changing Mortgage Rates Can Affect You

Written by Marathon Florida Keys Mortgage on April 3, 2023. Posted in Buying Myths, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power. The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment: Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down. What This Means for You You...

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Facts About Closing Costs [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 31, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

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We’re in a Sellers’ Market. What Does That Mean?

Written by Marathon Florida Keys Mortgage on March 30, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today so good if you want to list your house? It starts with the number of homes available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’...

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4 Key Tips for Selling Your House This Spring

Written by Marathon Florida Keys Mortgage on March 29, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Spring has arrived, and that means more and more people are getting their homes ready to sell. But with recent shifts in real estate, this year’s spring housing market will be different from the frenzy of the past several years. To sell your house quickly, without hassles, and for the most money, be sure to follow these four simple tips: 1. Make Sure You Give Buyers Access One of the biggest mistakes you can make as a seller is limiting the days and times when buyers have access to view your home. In any market, if you want to maximize the sale of your house, you can’t limit potential...

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How Homeownership Is Life Changing for Many Women

Written by Marathon Florida Keys Mortgage on March 28, 2023. Posted in Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households. Why Is Homeownership So Important to Women? The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal. On the financial side, housing proves to be the key to...

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Get Ready: The Best Time To List Your House Is Almost Here

Written by Marathon Florida Keys Mortgage on March 27, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching. Experts at realtor.com looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year: “Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor...

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Have You Thought About Why You Might Want To Sell Your House? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 24, 2023. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

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Why Buying a Home Is a Sound Decision

Written by Marathon Florida Keys Mortgage on March 23, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment. This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow. Home Price Appreciation in the Years Ahead Over 100...

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Reasons To Consider Condos in Your Home Search

Written by Marathon Florida Keys Mortgage on March 22, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Are you having trouble finding a home that fits your needs and your budget? If so, you should know there’s an option worth considering – condominiums, also known as condos. According to Bankrate: “A condo can be a more affordable entry point to homeownership than a single-family home. And as a homeowner, you’ll build equity over time and have access to tax benefits that a renter wouldn’t.” That’s why expanding your search to include additional housing types, like condominiums, could help you accomplish your homeownership goals this spring, especially if you can be flexible about the space...

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The Role of Access in Selling Your House

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

Once you’ve made the decision to sell your house and have hired a real estate agent to help, they’ll ask how much access to your home you want to give potential buyers. Your answer matters more now than it did in recent years. Here’s why. At the height of the buying frenzy seen during the pandemic, there was a rise in the number of homebuyers who put offers on houses sight unseen. That happened for three reasons: Extremely low housing inventory A lot of competition from other buyers wanting to take advantage of historically low mortgage rates And general wariness of in-person home tours...

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What’s Ahead for Home Prices in 2023

Written by Marathon Florida Keys Mortgage on March 20, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

Over the past year, home prices have been a widely debated topic. Some have said we’ll see a massive drop in prices and that this could be a repeat of 2008 – which hasn’t happened. Others have forecasted a real estate market that could see slight appreciation or depreciation depending on the area of the country. And as we get closer to the spring real estate market, experts are continuing to forecast what they believe will happen with home prices this year and beyond. Selma Hepp, Chief Economist at CoreLogic, says: “While 2023 kicked off on a more optimistic note for the U.S. housing...

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Here’s Why the Housing Market Isn’t Going To Crash [INFOGRAPHIC]

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

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What Buyer Activity Tells Us About the Housing Market

Written by Marathon Florida Keys Mortgage on March 16, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Selling Myths.

Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News: “Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.” That activity can be seen in the latest ShowingTime Showing Index, which is a measure of buyers actively touring available homes (see graph below): The 62% jump in showings from December to January is one of the largest on record. There were also more showings in January than in...

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Balancing Your Wants and Needs as a Homebuyer This Spring

Written by Marathon Florida Keys Mortgage on March 15, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market Trends Report from realtor.com puts it this way: “While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.” The current housing shortage has an impact on how you search for a home this spring. With limited...

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An Expert Gives You Clarity in Today’s Housing Market

Written by Marathon Florida Keys Mortgage on March 14, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Selling Myths.

The housing market has been going through shifts lately. That’s why it’s so important to work with an industry professional who can be your guide throughout the process. A real estate expert uses their knowledge of what’s really happening with home prices, housing supply, expert projections, and more to give you the best advice. Someone who can provide clarity like that is critical right now. Jay Thompson, Real Estate Industry Consultant, explains: “Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the...

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Leverage Your Equity When You Sell Your House

Written by Marathon Florida Keys Mortgage on March 13, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

One of the benefits of being a homeowner is that you build equity over time. By selling your house, that equity can be used toward purchasing your next home. But before you can put it to use, you should understand exactly what equity is and how it grows. Bankrate explains it like this: “Home equity is the portion of your home you’ve paid off – in other words, your stake in the property as opposed to the lender’s. In practical terms, home equity is the appraised value of your home minus any outstanding mortgage and loan balances.” Majority of Americans Have a Large Amount of Equity If...

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