Homeowner Net Worth Has Skyrocketed

Written by Marathon Florida Keys Mortgage on November 7, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant. The average homeowner’s net worth is almost 40X greater than a renter’s. And here’s the data to prove it (see graph below): The Big Reason Homeowner Net Worth Is So High In the...

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The Benefits of Buying a Multi-Generational Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on November 3, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re ready to buy a home but are having a hard time affording it on your own, or, if you have aging loved ones you need to care for, you might want to consider a multi-generational home. Living with siblings, parents, and even grandparents can help you save money, give or receive childcare, and spend quality time together. Talk to a local real estate agent to find a home in our area that’s perfect for you and your loved one’s needs.

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Don’t Believe Everything You Read About Home Prices

Written by Marathon Florida Keys Mortgage on November 2, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Selling Myths.

According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months. But why do roughly 1 in 4 people feel that way? It has a lot to do with all the negative talk about home prices over the past year. Since late 2022, the media has created a lot of fear about a price crash and those concerns are still lingering. You may be hearing people in your own life saying they’re worried about home prices or see on social media that some influencers are saying prices are going to come tumbling down. If you’re someone who still thinks prices are...

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A Real Estate Agent Helps Take the Fear Out of the Market

Written by Marathon Florida Keys Mortgage on October 30, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Do negative headlines and talk on social media have you feeling worried about the housing market? Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now. Regrettably, when news in the media isn’t easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says: “In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear,...

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Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 27, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights Here’s what you really need to know about a few myths causing fear in today’s housing market. Despite common misconceptions, many people can buy a home even if they have student loans, home prices are rising nationally (not falling), and you usually don’t have to have 20% for a down payment. If you have other fears or reservations about buying a home today, get in touch with a real estate expert who can help clear those up.

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Affordable Homeownership Strategies for Gen Z

Written by Marathon Florida Keys Mortgage on October 26, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

The idea of owning a home has always been a big part of the American Dream. It’s a symbol of stability, independence, and having a place to truly call your own. But for Gen Z, the “Zoomers” born between 1997 and 2012, making that dream a reality can feel like quite the challenge today with higher mortgage rates and rising home prices. But achieving that goal of owning your first home can still be attainable, even today, with some strategic planning and resourcefulness. Explore Financing and Down Payment Assistance Options With prices rising all around you, it can be hard...

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Invest in Yourself by Owning a Home

Written by Marathon Florida Keys Mortgage on October 25, 2023. 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.

Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner. Home Values Appreciate over Time There’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable,...

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Why Home Prices Keep Going Up

Written by Marathon Florida Keys Mortgage on October 23, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

If you’ve ever dreamed of buying your own place, or selling your current house to upgrade, you’re no stranger to the rollercoaster of emotions changing home prices can stir up. It’s a tale of financial goals, doubts, and a dash of anxiety that many have been through. But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it’s just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below): Here’s what this graph shows. In the first half of...

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Are Higher Mortgage Rates Here To Stay?

Written by Marathon Florida Keys Mortgage on October 17, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below): That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know. How Higher Mortgage Rates Impact You There’s no denying mortgage rates are higher right now than they were in recent years. And, when rates are up,...

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The Difference Between Renting and Buying a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 13, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

Some Highlights When deciding between buying a home or renting, think about these three important factors. Buying a home means avoiding rising rents, owning a tangible and valuable asset, and growing your wealth over time. If you’re ready to enjoy the advantages of owning a home, connect with a local real estate expert to discuss your options.

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Growing Your Net Worth with Homeownership

Written by Marathon Florida Keys Mortgage on October 12, 2023. Posted in Buying Myths, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Take a moment to imagine where you want to be in a few years. You might be thinking about your job, money, wanting more stability, or goals you want to reach soon. Is homeownership a part of that vision? If it is, you should know owning a home has a whole lot of financial benefits. One of the many reasons to buy a home is that it’s a great way to build wealth and gain financial stability. That’s because the value of most homes increases over time, which in turn grows your net worth. Here’s how home values are rising right now. According to Zillow: “The total value of the U.S. housing market...

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The Latest Expert Forecasts for Home Prices in 2023

Written by Marathon Florida Keys Mortgage on October 11, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Are you thinking about making a move? If so, all the speculation that home prices would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren’t in a downward spiral and will actually finish the year strong. Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn’t happened. The big reason why is the supply of homes for sale is too low. There are just more buyers looking to buy than homes available, and that’s kept prices from falling. To prove this year wasn’t a bust for home...

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How Homeowner Net Worth Grows with Time [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 6, 2023. Posted in Buying Myths, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re thinking about buying a home this year, be sure to consider the long-term financial advantages of homeownership, like home equity. On average, people who bought homes 32 years ago have seen their home’s value nearly triple over that time. If you’re wondering if buying a home is a good idea, remember rising home values could grow your net worth with time. When you’re ready to start your homebuying journey, talk with a local real estate professional.

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Are You a Homebuyer Worried About Climate Risks?

Written by Marathon Florida Keys Mortgage on October 5, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

The increasing effects of natural disasters are leading to new obstacles in residential real estate. As a recent article from CoreLogic explains: “As the specter of climate change looms large, the world braces for unprecedented challenges. In the world of real estate, one of those challenges will be the effects of natural catastrophes on property portfolios, homeowners, and communities.” That may be why, according to Zillow, more and more Americans now consider how climate risks and natural disasters can impact their homeownership plans (see below): This study goes on to explain that climate...

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Understanding the Benefits of Owning Your First Home

Written by Marathon Florida Keys Mortgage on October 4, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Are you considering buying your first home? If so, it can be helpful to know what led other people to make that decision. According to a recent survey of first-time homebuyers by PulteGroup: “When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.” While that survey looked specifically at first-time homebuyers buying newly built homes, the same sentiment is true for just about anyone buying their first...

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Unpacking the Long-Term Benefits of Homeownership

Written by Marathon Florida Keys Mortgage on October 2, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking about buying a home soon, higher mortgage rates, rising home prices, and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now. While those market factors are important, there’s more to consider. You should think about the long-term benefits of homeownership too. Think about this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that...

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The Return of Normal Seasonality for Home Price Appreciation

Written by Marathon Florida Keys Mortgage on September 26, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing, Selling Myths.

If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend. In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler...

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Beginning with Pre-Approval

Written by Marathon Florida Keys Mortgage on September 25, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re looking to buy a home this fall, there are a few things you need to know. Affordability is tight with today’s mortgage rates and rising home prices. At the same time, there’s a limited number of homes on the market right now and that’s creating some competition among buyers. But, if you’re strategic, there are ways to navigate these waters. The first thing you’ll want to do is get pre-approved for a mortgage. That way you’ll know your numbers and can set yourself up for success from the start of your home search. What Pre-Approval Does for You To understand why it’s such an important...

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How Remote Work Helps with Your House Hunt [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 22, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights While remote work peaked during the pandemic, many people still work from home today. If you’re one of them, it could have an unexpected benefit when you’re looking to buy a home. If you can work from home, you might have more choices for where to live. Connect with a real estate agent to talk about your options and what’s most important to you.

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The Many Non-Financial Benefits of Homeownership

Written by Marathon Florida Keys Mortgage on September 21, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buying and owning your own home can have a big impact on your life. While there are financial reasons to become a homeowner, it’s essential to think about the non-financial benefits that make a home more than just a place to live. Here are some of the top non-financial reasons to buy a home. According to Fannie Mae, 94% of survey respondents say “Having Control Over What You Do with Your Living Space” is a top reason to own. Your home is truly your own space. If you own a home, unless there are specific homeowner association requirements, you can decorate and change it the way you like....

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Remote Work Is Changing How Some Buyers Search for Their Dream Homes

Written by Marathon Florida Keys Mortgage on September 20, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The way Americans work has changed in recent years, and remote work is at the forefront of this shift. Experts say it’ll continue to be popular for years to come and project that 36.2 million Americans will be working remotely by 2025. To give you some perspective, that’s a 417% increase compared to the pre-pandemic years when there were just 7 million remote workers. If you’re in the market to buy a home and you work remotely either full or part-time, this trend is a game-changer. It can help you overcome some of today’s affordability and housing inventory challenges. How Remote Work...

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Should Baby Boomers Buy or Rent After Selling Their Houses?

Written by Marathon Florida Keys Mortgage on September 13, 2023. Posted in Baby Boomers, Buying Myths, Demographics, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest consideration boils down to this – will you buy your next home or choose to rent instead? That decision ultimately depends on your current situation and your future plans. Here are two important factors to help you decide what’s right for you. Expect Rents to Keep Going...

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Category: Buying Myths