Author: Marathon Florida Keys Mortgage

Remote Work Trends Mean Flexibility for First-Time Homebuyers

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

Today’s low inventory can be challenging for homebuyers, especially if you’re looking to purchase your first home. But if you’re one of many people who work remotely, you may have a great opportunity to use the flexibility you have at work to achieve your homebuying goals this year. In a recent report, Arch Capital Services explains how the ongoing trend of remote work can open up more options for homebuyers: “. . . This will enable those who are able to work from home on a part-time or hybrid basis to move slightly farther away from job centers. . . . For workers who secure full-time...

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What You Need To Budget for When Buying a Home

Written by Marathon Florida Keys Mortgage on April 5, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There are many trusted professionals who can help you understand your finances and what you’ll need to budget for throughout the process. To get you started, here are a few things experts say you should plan for along the way. 1. Down Payment As you set your savings goal for your purchase, your down payment is likely already top of mind. And, like many other people, you may believe...

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Balancing Your Wants and Needs as a Homebuyer Today

Written by Marathon Florida Keys Mortgage on April 4, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs. Danielle Hale, Chief Economist for realtor.com, explains it like this: “Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent.” So how do you go about creating your list of desired features? The first step is to get pre-approved for your...

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There Are Several Great Reasons To Consider Buying a Condo Today

Written by Marathon Florida Keys Mortgage on March 31, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

If you’re a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you. Here are a few reasons condos may be something you’ll want to consider. Exploring Condos Could Add Options That Fit Your Budget Supply challenges are a reality across the board in today’s housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans. In a recent article,...

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What’s Happening with Mortgage Rates, and Where Will They Go from Here?

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

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already...

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The Best Week To List Your House Is Just Around the Corner

Written by Marathon Florida Keys Mortgage on March 29, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon. According to realtor.com, the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical year). When applied to the current market, experts determined the ideal week to list a house this year. The research says: “Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home...

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A Key To Building Wealth Is Homeownership

Written by Marathon Florida Keys Mortgage on March 28, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

The link between financial security and homeownership is especially important today as inflation rises. But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says: “Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.” Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal. Owning a Home Is a Building Block for Financial Success A...

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How an Energy Efficient Home Can Be a Bright Idea [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 25, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights With inflation driving up the cost of everyday items, seeking out an energy-efficient home can be a great way to decrease the expenses you can control. Energy efficiency can help lower your utility bills and possibly even save you money on your taxes. Options to look for include efficient appliances, windows, and solar panels. If you’re planning to buy a home this year, consider energy efficiency in your search. Let’s connect so you can better understand features that can save you money for years to come. Content previously posted on Keeping Current Matters

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What You Can Expect from the Spring Housing Market

Written by Marathon Florida Keys Mortgage on March 24, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’s a look at what experts say you can expect this spring. 1. Mortgage Rates Will Climb Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite...

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What You Need To Know if You’re Thinking About Building a Home

Written by Marathon Florida Keys Mortgage on March 23, 2022. Posted in For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, New Construction.

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control. Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the...

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The Many Benefits of Homeownership

Written by Marathon Florida Keys Mortgage on March 22, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

The past two years have taught us the true value of homeownership, especially the stability and the feeling of accomplishment it can provide. But homeownership has so much more to offer. Here’s a look at a few of the non-financial and financial benefits of owning a home. If you’re looking to buy a home today, think about all the ways homeownership can impact your life. Homeownership Has Impactful Personal and Emotional Benefits Owning your home gives you a significant sense of pride because it’s a space that is truly yours. And as a homeowner, you can customize your home to your heart’s...

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The Average Homeowner Gained More Than $55K in Equity over the Past Year

Written by Marathon Florida Keys Mortgage on March 21, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you. Here’s how it happened. Home values are on the rise thanks to low housing supply and high buyer demand. Basically, there aren’t enough homes available to meet this high buyer interest, so bidding wars are driving home prices up. When you own a home, the rising prices mean your home is...

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Spring Cleaning Checklist for Sellers [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 18, 2022. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re thinking about selling your house this spring, here are some things you’ll want to tackle before you list. Spend your time on tasks that make it feel inviting, show it’s cared for, and boost your curb appeal. To determine the full list of things you’ll want to tackle for your home, you need the opinion of a trusted expert. Let’s connect to help make sure your house shows well this season. Content previously posted on Keeping Current Matters

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Did Your Dream Home Just Come on the Market?

Written by Marathon Florida Keys Mortgage on March 17, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest monthly release, realtor.com reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines). Here’s a graph showing the monthly new listings going back to January of last year. The green bars indicate the first gains since June. However, buying demand is still outpacing housing supply. Though the increase in homes coming to the market is great news for prospective homebuyers, the number of buyers is still...

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Are You Wondering if This Is the Year To Buy a Home?

Written by Marathon Florida Keys Mortgage on March 16, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. After all, according to Census data, rents have risen consistently for decades. To make an informed and powerful decision, the first step is understanding what’s happening in today’s housing market so you can determine which option is the better long-term financial decision for you. Rents Are Going Up...

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Don’t Get Caught Off Guard by Closing Costs

Written by Marathon Florida Keys Mortgage on March 15, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a down payment, a recent survey found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get started so you’re not caught off guard when it’s time to close on your home. What Are Closing Costs? One possible reason some people are surprised by closing costs may be because they don’t know what they are or what they cover. According to U.S. News and World Report: “Closing costs encompass a...

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This Spring Presents Sellers with a Golden Opportunity

Written by Marathon Florida Keys Mortgage on March 14, 2022. Posted in For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one. If that’s the case, you should know – you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity. 1. The Number of Homes on the Market Is Still Low Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes...

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Key Terms for Homebuyers [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 11, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Let’s connect so you have an expert guide and advice for any questions that may come up. Content...

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How To Navigate a Market Where Multiple Offers Is the New Normal

Written by Marathon Florida Keys Mortgage on March 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’re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really mean for you? As a buyer, low housing supply coupled with high buyer demand means you should be prepared to navigate a highly competitive market where homes sell fast and get multiple offers. Realtor.com has this to say: “Homes also flew off the market at record pace as buyers put offers in the moment properties came up for sale….” In a bidding war situation like this, doing everything you can to get ahead of the competition is a wise move. That’s...

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Key Factors That Impact Affordability Today

Written by Marathon Florida Keys Mortgage on March 9, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable. There are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each of these components. 1. Home Prices The most recent Home Price Insights report by CoreLogic shows home values have increased by 19.1% from last January to this January. That was one...

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How Global Uncertainty Is Impacting Mortgage Rates

Written by Marathon Florida Keys Mortgage on March 8, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for the first time since May of 2019. But that climb has dropped slightly over the past few weeks (see graph below): The recent decline in mortgage rates is primarily due to growing uncertainty around geopolitical tensions surrounding Russia and Ukraine. But experts say it’s to be expected. Here’s a...

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Why It’s Critical To Price Your House Right

Written by Marathon Florida Keys Mortgage on March 7, 2022. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today. But even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why. Pricing Your...

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