Author: Marathon Florida Keys Mortgage

Expert Forecasts on Mortgage Rates

Written by Marathon Florida Keys Mortgage on September 7, 2022. Posted in Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow? As you think about your homeownership goals and decide if now’s the time to make your move, the best place to turn to for that information is the professionals. Here’s a summary of the latest mortgage rate forecasts from housing market experts. Experts Project Mortgage Rates Will Stabilize While mortgage rates continue to fluctuate due to ongoing...

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How Owning a Home Builds Your Net Worth

Written by Marathon Florida Keys Mortgage on September 6, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Owning a home is a major financial milestone and an achievement to take pride in. One major reason: the equity you build as a homeowner gives your net worth a big boost. And with high inflation right now, the link between owning your home and building your wealth is especially important. If you’re looking to increase your financial security, here’s why now could be a good time to start on your journey toward homeownership. Owning a Home Is a Key Ingredient for Financial Success A report from the National Association of Realtors (NAR) details several homeownership trends, including a...

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Here’s Why It’s Still a Sellers’ Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 2, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Some Highlights While buyer demand has moderated and housing supply has grown in recent months, it’s still a sellers’ market because inventory is low. The latest data shows sellers continue to benefit from serious buyers and competitive offers. In July, the average home received 2.8 offers and 39% sold over the asking price. You haven’t missed your opportunity to sell. Let’s connect to start the process today. Content previously posted on Keeping Current Matters

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New Homes May Have the Incentives You’re Looking for Today

Written by Marathon Florida Keys Mortgage on September 1, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, New Construction.

According to the U.S. Census Bureau, this year, builders are on pace to complete more than a million new homes in this country. If you’ve had trouble finding a home to buy over the past year, it may be time to work with your trusted agent to consider a new build and the incentives that come with it. Here’s why. The Supply of Newly Built Homes Is Rising When looking for a home, you can choose between existing homes (those that are already built and previously owned) and newly constructed ones. While the inventory of existing homes is on the rise today, it’s still in tight supply, meaning...

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Buyers: You May Face Less Competition as Bidding Wars Ease

Written by Marathon Florida Keys Mortgage on August 31, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

One of the top stories in recent real estate headlines was the intensity and frequency of bidding wars. With so many buyers looking to purchase a home and so few of them available for sale, fiercely competitive bidding wars became the norm during the pandemic – and it drove home prices up. If you tried to buy a house over the past two years, you probably experienced this firsthand and may have been outbid on several homes along the way. But here’s the news you’ve been waiting for: data shows clear signs bidding wars are easing this year. According to the National Association of Realtors...

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What’s Actually Happening with Home Prices Today?

Written by Marathon Florida Keys Mortgage on August 30, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture. Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today. Appreciation is when home prices increase. Depreciation is when home...

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A Trusted Real Estate Advisor Provides Expert Advice

Written by Marathon Florida Keys Mortgage on August 29, 2022. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re a homeowner or are planning to become one soon, you’re probably looking for clear information about today’s housing market. And if you’ve turned to the news or even just read headlines recently, you might feel like you’re left with more questions than answers. The best way to make sure you get what you need is to work with an expert. Why You Want To Lean on a Trusted Professional With any big milestone in life, it’s wise to seek advice from people who are experts in their field. While you likely want that advice to be perfect, perfect simply isn’t possible. But professionals...

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What Would a Recession Mean for the Housing Market? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on August 27, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re wondering what a potential recession could mean for the housing market, here’s what history tells us. In four of the last six recessions, home prices actually appreciated, only falling during the early 90s and the housing crash in 2008. Mortgage rates, though, declined during each of the previous recessions. If you have questions about buying or selling a home in today’s market, let’s connect. Content previously posted on Keeping Current Matters

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What Does a Recession Mean for the Housing Market? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on August 26, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

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Why You May Want To Start Your Home Search Today

Written by Marathon Florida Keys Mortgage on August 25, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s home prices, and more to try to decide if you want to jump into the market. While some buyers may wait things out, there’s a reason serious buyers are making moves right now, and that’s the growing number of homes for sale. So far this year, housing inventory has been increasing and that’s making the prospect of finding your dream home less difficult. While there are always reasons you could delay making a big decision, there are also...

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Why Today’s Housing Inventory Proves the Market Isn’t Headed for a Crash

Written by Marathon Florida Keys Mortgage on August 24, 2022. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Whether or not you owned a home in 2008, you likely remember the housing crash that took place back then. And news about an economic slowdown happening today may bring all those concerns back to the surface. While those feelings are understandable, data can help reassure you the situation today is nothing like it was in 2008. One of the key reasons why the market won’t crash this time is the current undersupply of inventory. Housing supply comes from three key places: Current homeowners putting their homes up for sale Newly built homes coming onto the market Distressed properties (short...

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What Sellers Need To Know in Today’s Housing Market

Written by Marathon Florida Keys Mortgage on August 23, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Homes priced right are selling very...

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3 Tips for Buying a Home Today

Written by Marathon Florida Keys Mortgage on August 22, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you put off your home search at any point over the past two years, you may want to consider picking it back up based on today’s housing market conditions. Recent data shows the supply of homes for sale is increasing, giving buyers like you additional options. But it’s important to keep in mind that while inventory is improving, it’s still a sellers’ market. And that means you need to be prepared as you set out on your home search. Here are three tips for buying the home of your dreams today. 1. Understand How Mortgage Rates Impact Your Homebuying Power Mortgage rates have increased...

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Why a Home Inspection Is Important [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on August 19, 2022. Posted in Buying Myths, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re buying a home, here’s what you should know about your home inspection and why it’s so important. A home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase so you can avoid costly surprises down the road. Let’s connect so you have an expert on your side to guide you through the process. Content previously posted on Keeping Current Matters

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Planning To Retire? Your Equity Can Help You Reach Your Goal.

Written by Marathon Florida Keys Mortgage on August 18, 2022. Posted in Baby Boomers, Demographics, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Senior Market.

Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired. If this sounds like you, one thing worth considering is whether or not your current home will suit your new lifestyle. If your home doesn’t have the features or benefits you’re looking for, the good news is, you...

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Experts Increase 2022 Home Price Projections

Written by Marathon Florida Keys Mortgage on August 17, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

If you’re wondering if home prices are going to come down due to the cooldown in the housing market or a potential recession, here’s what you need to know. Not only are experts forecasting home prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for home price appreciation from their original 2022 forecasts (shown in green in the chart below): As the chart shows, most sources adjusted up, and now call for more appreciation in 2022 than they originally projected this January. But why are experts so confident the housing market...

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What Would a Recession Mean for the Housing Market?

Written by Marathon Florida Keys Mortgage on August 16, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

According to a recent survey from the Wall Street Journal, the percentage of economists who believe we’ll see a recession in the next 12 months is growing. When surveyed in July 2021, only 12% of economists consulted thought there’d be a recession by now. But this July, when polled, 49% believe we will see a recession in the coming 12 months. And as more recession talk fills the air, one concern many people have is: should I delay my homeownership plans if there’s a recession? Here’s a look at historical data to show what happened in real estate during previous recessions to help prove...

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The U.S. Homeownership Rate Is Growing

Written by Marathon Florida Keys Mortgage on August 15, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year: That data shows more than half of the U.S. population live in a home they own, and the percentage is growing with time. If you’re thinking about buying a home this year, here are just a few reasons why so many people see the value of homeownership. Why Are More People Becoming Homeowners? There are several benefits to owning your home. A significant one, especially when...

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Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on August 12, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Many people remember the housing crash in 2008, but experts say today’s market is fundamentally different in many ways. First, there isn’t an oversupply of homes for sale today. Plus, lending standards are much tighter, and homeowners have record levels of equity. That means signs say there won’t be a wave of foreclosures like the last time. If you have questions about the housing market, let’s connect. Content previously posted on Keeping Current Matters

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What Does the Rest of the Year Hold for Home Prices?

Written by Marathon Florida Keys Mortgage on August 11, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your homeownership goals. Last Year’s Rapid Home Price Growth Wasn’t the Norm In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove...

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Is the Shifting Market a Challenge or an Opportunity for Homebuyers?

Written by Marathon Florida Keys Mortgage on August 10, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer. But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans. The Challenge There were many reasons for the limited number of homes on the market...

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Selling Your House? Your Asking Price Matters More Now Than Ever

Written by Marathon Florida Keys Mortgage on August 9, 2022. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling your house? While home prices are still appreciating in most markets and experts say that will continue, they’re climbing at a slower pace because rising mortgage rates are creating less buyer demand. Because of this, there are more homes on the market. And in a shift like this one, the way you price your home matters more than ever. Why Today’s Housing Market Is Different During the pandemic, sellers could price...

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