Author: Marathon Florida Keys Mortgage

Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years

Written by Marathon Florida Keys Mortgage on February 8, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your house, this is a great time to do so. Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic.

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How Experts Can Help Close the Gap in Today’s Homeownership Rate

Written by Marathon Florida Keys Mortgage on February 8, 2023. Posted in Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

As we celebrate Black History Month, we reflect on the past and present experiences of Black Americans. This includes the path toward investing in a home of their own. And while equitable access to housing has come a long way, homeownership can be a steeper climb for households of color. It’s an important experience to talk about, along with how it can make all the difference for diverse homebuyers to work with the right real estate experts.

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The Top Reasons for Selling Your House

Written by Marathon Florida Keys Mortgage on February 8, 2023. Posted in For Sellers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.

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You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on February 3, 2023. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

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Experts Forecast a Turnaround in the Housing Market in 2023

Written by Marathon Florida Keys Mortgage on February 2, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.

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Should You Rent Your House or Sell It?

Written by Marathon Florida Keys Mortgage on February 1, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of selling it. A short-term rental (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years. According to a Harris Poll survey, 28% of homeowners have considered using a rental service to temporarily rent out their home for additional income.

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Lower Mortgage Rates Are Bringing Buyers Back to the Market

Written by Marathon Florida Keys Mortgage on January 31, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling.

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Where Will You Go If You Sell? You Have Options.

Written by Marathon Florida Keys Mortgage on January 30, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, New Construction.

There are plenty of good reasons you might be ready to move. No matter your motivations, before you list your current house, you need to consider where you’ll go next.

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Homeownership Builds Your Wealth over Time [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 27, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

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Why It Makes Sense To Move Before Spring

Written by Marathon Florida Keys Mortgage on January 26, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.

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Why You Shouldn’t Fear Today’s Foreclosure Headlines

Written by Marathon Florida Keys Mortgage on January 25, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s happening today. Here’s a deeper look.

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The 3 Factors That Affect Home Affordability

Written by Marathon Florida Keys Mortgage on January 24, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares:

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Want To Sell Your House? Price It Right.

Written by Marathon Florida Keys Mortgage on January 23, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains:

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What’s Really Happening with Home Prices? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 20, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

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Pre-Approval in 2023: What You Need To Know

Written by Marathon Florida Keys Mortgage on January 19, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:

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Have Home Values Hit Bottom?

Written by Marathon Florida Keys Mortgage on January 18, 2023. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008.

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Think Twice Before Waiting for 3% Mortgage Rates

Written by Marathon Florida Keys Mortgage on January 17, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

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What Past Recessions Tell Us About the Housing Market

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

It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:

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Key Terms To Know When Buying a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 13, 2023. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

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Is It Time To Sell Your Second Home?

Written by Marathon Florida Keys Mortgage on January 12, 2023. Posted in For Sellers, Housing Market Updates, Luxury Market, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.

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Today’s Housing Market Is Nothing Like 15 Years Ago

Written by Marathon Florida Keys Mortgage on January 11, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.

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The Truth About Negative Home Equity Headlines

Written by Marathon Florida Keys Mortgage on January 10, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Home equity has been a hot topic in real estate news lately. And if you’ve been following along, you may have heard there’s a growing number of homeowners with negative equity. But don’t let those headlines scare you.

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