Author: Marathon Florida Keys Mortgage

Supply and Demand in Today’s Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 4, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Today’s housing market is the direct result of low supply and high buyer demand. Here’s what that means for you and your plans to buy or sell. For buyers, expect competition, be ready to move fast, and be prepared to submit your strongest offer. For sellers, know your house will be the center of attention and that it’ll likely sell quickly and get multiple offers. If you’re ready to move, let’s connect to talk about our local area and how you can take advantage of today’s unprecedented housing market. Content previously posted on Keeping Current Matters

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Are Home Prices Continuing To Rise?

Written by Marathon Florida Keys Mortgage on March 3, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December: Federal Housing Finance Agency (FHFA): 17.6% S&P Case-Shiller: 18.8% CoreLogic: 18.5% To show that they’re not seeing signs of softening, here’s a graph that gives the progression of all three indices for each month of 2021. As the graph above reveals,...

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Down Payment Assistance Programs Can Help You Achieve Homeownership

Written by Marathon Florida Keys Mortgage on March 2, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the National Association of Realtors (NAR) shows: “For first-time home buyers, 29 percent said saving for a downpayment [sic] was the most difficult step in the process.” If you’re finding that your down payment is your biggest hurdle, the good news is there are many down payment assistance programs available that...

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An Expert Advisor Will Give You the Best Advice in Today’s Market

Written by Marathon Florida Keys Mortgage on March 1, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result, an expert real estate advisor isn’t just good to have by your side, they’re essential. Today’s housing market is full of extremes. Experts project mortgage rates will continue to rise this year, and that’s driving significant demand for homes as buyers want to make their purchases before rates climb even higher. At the same time, an absence of sellers is leading to record-low housing inventory. This imbalance in...

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Millennials: Do You Need a Home with More Space?

Written by Marathon Florida Keys Mortgage on February 28, 2022. Posted in Demographics, Down Payments, For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials, Move-Up Buyers.

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal...

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The Difference Between Renting and Owning [INFOGRAPHIC]

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

Some Highlights If you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home. As a renter, you build your landlord’s wealth and face rising costs. As a homeowner, you build your own net worth and can lock in your monthly payments for the length of your loan. If you’re weighing your options, remember that owning a home is a decision that has considerable financial perks. If you want to learn more, let’s connect to talk about the perks of homeownership. Content previously posted on Keeping Current Matters

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The #1 Reason To Sell Your House Today

Written by Marathon Florida Keys Mortgage on February 24, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Almost every industry is currently struggling with supply chain disruptions. This also applies to the current U.S. housing market, where buyer demand far exceeds housing supply. Purchaser demand is very strong right now. The National Association of Realtors (NAR) just released their latest Existing Home Sales Report which reveals that sales surged in January. Existing home sales rose to a seasonally adjusted annual rate of 6.5 million – an increase of 6.7% from the prior month, with sales up in all regions. However, there’s one big challenge. Inventory Is at an All-Time Low Because...

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How Supply and Demand Can Impact Your Buying and Selling Goals

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

In today’s housing market, there are far more buyers looking for homes than sellers listing their houses. Based on the concept of supply and demand, this means home prices will naturally rise. Why is that? When there are more people trying to buy an item than there are making that item available for sale, that drives prices up. And that’s exactly the case in today’s housing market. So, knowing what’s happening with the inventory of homes for sale and the demand for housing is crucial for today’s buyers and sellers. Nationally, Demand Is High and Supply Is Very Low The latest buyer and...

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The Perks of Owning More Than One Home

Written by Marathon Florida Keys Mortgage on February 22, 2022. Posted in For Buyers, Luxury Market, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent Luxury Market Report from Luxury Home Marketing: “As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership.” This may be because the pandemic has altered how we think about our homes. Where we live has become, more than ever, our safe space and our getaway. And with the rise in remote work, more people are reconsidering...

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Real Estate Voted the Best Investment Eight Years in a Row

Written by Marathon Florida Keys Mortgage on February 21, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below): If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines. Why Is Real Estate a Great Investment During Times of High Inflation? With inflation reaching its highest...

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What’s Driving Today’s High Buyer Demand? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on February 18, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights There’s an influx of buyers looking for homes today, and that means your house is in high demand. Here are a few reasons why so many people are looking to buy a home. Buyers are motivated to beat rising mortgage rates, and many want to escape rising rents. There’s also additional demand from millennials who are reaching peak homebuying age. If you’re thinking about selling your house, today’s demand is great news. Let’s connect to begin the process of listing your house while buyers are ready to purchase. Content previously posted on Keeping Current Matters

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4 Simple Graphs Showing Why This Is Not a Housing Bubble

Written by Marathon Florida Keys Mortgage on February 17, 2022. Posted in Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different than it was during the housing crash 15 years ago. Here are four key reasons why today is nothing like the last time. 1. Houses Are Not Unaffordable Like They Were During the Housing Boom The affordability formula has three components: the price of the home, wages earned by the purchaser, and the mortgage rate available at the time. Conventional...

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More People Are Planning To Buy a Home Soon

Written by Marathon Florida Keys Mortgage on February 16, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

While some homeowners may be tempted to hold off until spring to list their houses, you should know – homebuyers aren’t waiting. Demand is high today as more people are trying to beat rising mortgage rates. As a result, eager buyers are entering the market or moving their plans up so they can make their purchases as soon as possible. The most recent Consumer Confidence Survey finds that, of those surveyed, the percentage of people planning to buy over the next six months has increased substantially since last fall (see graph below): As the graph shows, the number of consumers...

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What Every Seller Needs To Know About Renovating This Year

Written by Marathon Florida Keys Mortgage on February 15, 2022. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re planning to sell this year, you’re probably thinking about what you’ll need to do to get your house ready to appeal to the most buyers. It’s crucial to work with a trusted real estate professional who knows your local market to get your home ready to sell. But there are a few things you should consider when deciding what to renovate and update before listing this season. Here are three things to keep top of mind as you’re making your list of projects to tackle this year. 1. The Number of Homes for Sale Is Very Low Housing inventory sits far below what is normally considered a...

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Are You Ready To Fall in Love with Homeownership?

Written by Marathon Florida Keys Mortgage on February 14, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Financial benefits are always a key aspect of homeownership, but it’s also important to understand that the nonfinancial and personal benefits are why so many people genuinely fall in love with their homes. When you own your home, you likely feel a sense of emotional attachment because of the comfort it provides, but also because it’s a space that’s truly yours. Over the past two years, we’ve learned to love our homes even more as we’ve stayed home more than ever due to the ongoing pandemic. As a result, the personal and emotional benefits our homes provide have become even more important...

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How To Win as a Buyer in a Sellers’ Market [INFOGRAPHIC]

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

Some Highlights Even in today’s sellers’ market, there are still ways for buyers to win big. Build a team of trusted professionals and make strategic plays as you budget and pick your desired neighborhoods. Then, be ready for the competition by getting a pre-approval letter and leaning on your expert advisors to draft a winning offer. In a sellers’ market, you can still be the champion if you have the right team and strategy. Let’s connect today to make your game-winning play. Content previously posted on Keeping Current Matters

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Want Top Dollar for Your House? Now’s the Time To List It.

Written by Marathon Florida Keys Mortgage on February 10, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

When you’re selling any item, you usually want to sell it for the greatest profit possible. That happens when there’s a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you’re thinking of selling your house this year, here are two reasons why now’s the time to list. 1. Demand Is Very Strong This Winter A recent article in Inman News explains: “Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists. . . . ‘Home shopping season appears to already be in full swing!’” And they aren’t the...

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The Path To Homeownership Can Be Steeper for Some Americans

Written by Marathon Florida Keys Mortgage on February 9, 2022. Posted in Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

As we celebrate Black History Month, we honor and recognize the past and present experiences of Black Americans. A significant part of this experience is investing in a home of their own. While equitable access to housing has come a long way, the path to homeownership is still steeper for households of color. It’s an important experience to talk about, along with how working with the right real estate experts can make all the difference for diverse homebuyers. We know it’s a more challenging journey to achieve homeownership for some because there’s still a measurable gap between the...

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Don’t Let Student Loans Delay Your Homeownership Dreams

Written by Marathon Florida Keys Mortgage on February 8, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re looking to buy a home, you may be wondering how your student loan debt could impact those plans. Do you have to wait until you’ve paid off your student loans before you can buy your first home? Or could you qualify for a home loan with that debt? To give you the answers you’re searching for, let’s take a look at what recent data shows. That way, you know what to expect and what to do next to achieve your dream of becoming a homeowner. While everyone’s situation is unique, your goal may be more within your reach than you realize. Do you have to delay your plans because of student...

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Consumers Agree: It’s a Good Time To Sell

Written by Marathon Florida Keys Mortgage on February 7, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

In today’s sellers’ market, many homeowners are weighing their options and trying to decide if they should sell their house. If you’re in that group, you may be balancing things like the ongoing health crisis, rising mortgage rates, and your own changing needs to determine your best time to make a move. However, recent data shows that time may already be here. According to the latest Home Purchase Sentiment Index (HPSI) by Fannie Mae, 76% of consumers believe now is a good time to sell. Looking back over the past few years, its clear consumers are incredibly optimistic today. The graph...

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How Remote Work Impacts Your Home Search [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on February 4, 2022. Posted in For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If your workplace is delaying its return to office plans or is allowing permanent work from home options, that may open up new possibilities for your home search. Ongoing remote work could give you the chance for a change in scenery, a move to an area with a lower cost of living, or finding a home with more home office space. If you want to learn more about how remote work can give you more options, let’s connect to discuss your situation and priorities for your home search. Content previously posted on Keeping Current Matters

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Millions of Americans Have Discovered the Benefits of Multigenerational Households

Written by Marathon Florida Keys Mortgage on February 3, 2022. Posted in Demographics, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If your needs are changing, you may be thinking about sharing a home with additional loved ones, such as grandparents, adult children, or other extended family members. Whether it’s for financial or health-related circumstances, or simply because you’ve reached a new phase of life, you might be wondering if living with multiple generations under the same roof is a good move for you. Many people have found themselves in a similar situation and they’ve already made the choice to live in a multigenerational home. What Is a Multigenerational Home? The Pew Research Center defines a...

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