The Top 5 Reasons You Need a Real Estate Agent when Buying a Home

Written by Marathon Florida Keys Mortgage on April 9, 2024. Posted in For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

You may have heard headlines in the news lately about agents in the real estate industry and discussions about their commissions. And if you’re following along, it can be pretty confusing. But here’s the thing you really need to know – expert advice from a trusted real estate agent is priceless, now more than ever. And here’s why. A real estate agent does a lot more than you may realize. Your agent is the person who will guide you through every step when buying a home and look out for your best interests along the way. They smooth out a complex process and take away the bulk of the stress...

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Don’t Let Your Student Loans Delay Your Homeownership Plans

Written by Marathon Florida Keys Mortgage on April 8, 2024. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you have student loans and want to buy a home, you might have questions about how your debt affects your plans. Do you have to wait until you’ve paid off those loans before you can buy your first home? Or is it possible you could still qualify for a home loan even with that debt? Here’s a look at the latest information so you have the answers you need. A Bankrate article explains: “Roughly 60 percent of U.S. adults who have held student loan debt have put off making important financial decisions due to that debt . . . For Gen Z and millennial borrowers alone, that number rises to 70 percent.” This...

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Top 5 Reasons To Hire an Agent When Buying a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 5, 2024. Posted in Buying Myths, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Hiring an agent when buying a home helps you understand the buying process and the local market. They’ll also go over contracts and fine print with you, so you understand what you’re agreeing to. Plus, they’re good at negotiating, making sure you get the best deal. Expert advice from a trusted real estate professional is priceless. Connect with a local agent today.

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Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami

Written by Marathon Florida Keys Mortgage on April 4, 2024. Posted in Baby Boomers, Demographics, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Have you heard the term “Silver Tsunami” getting tossed around recently? If so, here’s what you really need to know. That phrase refers to the idea that a lot of baby boomers are going to move or downsize all at once. And the fear is that a sudden influx of homes for sale would have a big impact on housing. That’s because it would create a whole lot more competition for smaller homes and would throw off the balance of supply and demand, which ultimately would impact home prices. But here’s the thing. There are a couple of faults in that logic. Let’s break them down and put your mind at ease....

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Newly Built Homes Could Be a Game Changer This Spring

Written by Marathon Florida Keys Mortgage on April 3, 2024. Posted in For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buying a home this spring? You’re probably navigating today’s affordability challenges and dealing with the limited number of homes for sale. But, what if there was a solution that could help with both? If you’re having a hard time finding a home you love, and mortgage rates are putting pressure on your budget, it may be time to look at newly built homes. Here’s why. New Home Construction Is an Inventory Bright Spot 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 number of existing homes...

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Why Overpricing Your House Can Cost You

Written by Marathon Florida Keys Mortgage on April 2, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re trying to sell your house, you may be looking at this spring season as the sweet spot – and you’re not wrong. We’re still in a seller’s market because there are so few homes for sale right now. And historically, this is the time of year when more buyers move, and competition ticks up. That makes this an exciting time to put up that for sale sign. But while conditions are great for sellers like you, you’ll still want to be strategic when it comes time to set your asking price. That’s because pricing your house too high may actually cost you in the long run. The Downside of Overpricing...

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The Best Week To List Your House Is Almost Here

Written by Marathon Florida Keys Mortgage on April 1, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Are you thinking about making a move? If so, now may be the perfect time to start the process. That’s because experts say the best week to list your house is just around the corner. A recent Realtor.com study looked at housing market trends over the past several years (with the exception of 2020, since it was an unusual year), and found the best week to put your house on the market this year is April 14-20: “Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the best time to sell—that is, if...

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Outdoor Projects Can Boost Curb Appeal When You Sell [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 29, 2024. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights In real estate, a good first impression is key. If the outside of a house looks welcoming, more people will want to come in and see it. Your agent helps you by giving advice on what you may want to prioritize, finding easy fixes that make a big difference, knowing what buyers in your area like, and showing off your updates in your listing. Connect with a local real estate agent so you have expert advice on what’ll have the biggest impact in your area.

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Is It Easier To Find a Home To Buy Now?

Written by Marathon Florida Keys Mortgage on March 28, 2024. Posted in Buying Myths, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

One of the biggest hurdles buyers have faced over the past few years has been a lack of homes available for sale. But that’s starting to change. The graph below uses the latest data from Realtor.com to show there are more homes on the market in 2024 than there have been in any of the past several years (2021-2023): Does That Mean Finding a Home Is Easier? The answer is yes, and no. As an article from Realtor.com says: “There were nearly 15% more homes for sale in February than a year earlier . . . That alone could jolt the housing market a bit if more “For Sale” signs continue to appear....

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Single Women Are Embracing Homeownership

Written by Marathon Florida Keys Mortgage on March 27, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

In today’s housing market, more and more single women are becoming homeowners. According to data from the National Association of Realtors (NAR), 19% of all homebuyers are single women, while only 10% are single men. If you’re a single woman trying to buy your first home, this should be encouraging. It means other people are making their dreams a reality – so you can too. Why Homeownership Matters to So Many Women For many single women, buying a home isn’t just about having a place to live—it’s also a smart way to invest for the future. Homes usually increase in value...

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What’s the Latest with Mortgage Rates?

Written by Marathon Florida Keys Mortgage on March 26, 2024. Posted in Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Recent headlines may leave you wondering what’s next for mortgage rates. Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the Fed met last week, a cut didn’t happen — at least, not yet. There are a lot of factors the Fed considered in their recent decision and most of them are complex. But you don’t need to be bogged down by those finer...

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What Every Homebuyer Should Know About Closing Costs

Written by Marathon Florida Keys Mortgage on March 25, 2024. Posted in Buying Myths, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Before making the decision to buy a home, it’s important to plan for all the costs you’ll be responsible for. While you’re busy saving for the down payment, don’t forget you’ll want to prep for closing costs too. Here’s some helpful information on what those costs are and how much you should budget for them. What Are Closing Costs? A recent article from Bankrate explains: “Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being...

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3 Helpful Tips for First-Time Homebuyers [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 22, 2024. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Trying to buy your first home? If you’re worried about affordability today or the limited number of homes for sale, these tips can help. Look into homebuyer programs, expand your search area, and consider a multi-generational home. Connect with a local real estate agent so you have an expert on your side to help you make your dream a reality.

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What Are Experts Saying About the Spring Housing Market?

Written by Marathon Florida Keys Mortgage on March 21, 2024. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re planning to move soon, you might be wondering if there’ll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here’s what the professionals are saying about what’s in store for this season. Odeta Kushi, Deputy Chief Economist, First American: “. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.” Lisa Sturtevant, Chief Economist, Bright MLS: “There is still strong...

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Does It Make Sense To Buy a Home Right Now?

Written by Marathon Florida Keys Mortgage on March 20, 2024. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Thinking about buying a home? If so, you’re probably wondering: should I buy now or wait? Nobody can make that decision for you, but here’s some information that can help you decide. What’s Next for Home Prices? Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices. In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph...

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Homeowners Today Have Options To Avoid Foreclosure

Written by Marathon Florida Keys Mortgage on March 19, 2024. Posted in Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Even with the latest data coming in, the experts agree there’s no chance of a large-scale foreclosure crisis like the one we saw back in 2008. While headlines may be calling attention to a slight uptick in foreclosure filings recently, the bigger picture is that we’re still well below the number we’d see in a more normal year for the housing market. As a report from BlackKnight explains: “The prospect of any kind of near-term surge in foreclosure activity remains low, with start volumes still nearly 40% below pre-pandemic levels.” That’s good news. It means the number of homeowners at risk...

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4 Tips To Make Your Strongest Offer on a Home

Written by Marathon Florida Keys Mortgage on March 18, 2024. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Are you thinking about buying a home soon? If so, you should know today’s market is competitive in many areas because the number of homes for sale is still low – and that’s leading to multiple-offer scenarios. And moving into the peak homebuying season this spring, this is only expected to ramp up more. Remember these four tips to make your best offer. 1. Partner with a Real Estate Agent Rely on a real estate agent who can support your goals. As PODS notes: “Making an offer on a home without an agent is certainly possible, but having a pro by your side gives you a massive advantage in figuring...

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The Latest Trends in Housing [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 15, 2024. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights With the number of new listings going up and average days on market going down, buyers may have more options, but will still want to move fast. For sellers, inventory is still low and houses are selling fast, meaning your house should stand out and may get multiple offers if you price it right. If you want to know more about what’s happening in your area, connect with a local real estate agent.

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Why Today’s Seller’s Market Is Good for Your Bottom Line

Written by Marathon Florida Keys Mortgage on March 14, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Thinking about selling your house and wondering if now’s a good time to do it? Here’s what you need to know. Even though the number of homes for sale has been growing this year, there still aren’t enough homes on the market for all the buyers who want to buy. So, what does that mean for you? To keep it simple, it means it’s still a seller’s market. Here’s how it works: A neutral market is when supply and demand is balanced. Basically, there are enough homes to meet buyer demand based on the current sales pace, and home prices hold fairly steady. A buyer’s market is when there are more homes...

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Your Home Is a Powerful Investment

Written by Marathon Florida Keys Mortgage on March 13, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%—and that might have made you feel a bit unsure about buying a home. But here’s what actually happened: home prices went up more than usual. Brian D. Luke, Head of Commodities at S&P Dow Jones Indices, explains: “Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.” To put last year’s growth into context, the graph below uses data from...

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What Mortgage Rate Do You Need To Move?

Written by Marathon Florida Keys Mortgage on March 12, 2024. Posted in Buying Myths, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve been thinking about buying a home, mortgage rates are probably top of mind for you. They may even be why you’ve put your plans on hold for now. When rates climbed near 8% last year, some buyers found the numbers just didn’t make sense for their budget anymore. That may be the case for you too. Data from Bright MLS shows the top reason buyers delayed their plans to move is due to high mortgage rates (see graph below): David Childers, CEO at Keeping Current Matters, speaks to this statistic in the recent How’s The Market podcast: “Three quarters of buyers said ‘we’re out’ due to...

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Finding Your Perfect Home in a Fixer Upper

Written by Marathon Florida Keys Mortgage on March 11, 2024. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re trying to buy a home and are having a hard time finding one you can afford, it may be time to consider a fixer-upper. That’s a house that needs a little elbow grease or some updates, but has good bones. Fixer-uppers can be a really great option if you’re looking to break into the housing market or want to stretch your budget further. According to NerdWallet: “Buying a fixer-upper can provide a path to homeownership for first-time home buyers or a way for repeat buyers to afford a larger home or a better neighborhood. With the relatively low inventory of homes for sale these days,...

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