Where Are People Moving Today and Why?

Written by Marathon Florida Keys Mortgage on August 14, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Plenty of people are still moving these days. And if you’re thinking of making a move yourself, you may be considering the inventory and affordability challenges in the housing market and wondering what you can do to help offset those. A new report from Gravy Analytics provides insight into where people are searching for homes and what they’re prioritizing most right now. That information could help you plan your own move. 1. People Are Moving to Cities with Lower Housing Costs One big factor motivating where buyers are going is affordability and that’s no big surprise. People are relocating...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Value of an Agent When Buying Your New Construction Home

Written by Marathon Florida Keys Mortgage on August 9, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buying a new construction home can be an exciting experience. From being the very first owner, to customizing your home’s features, there are a lot of benefits. But navigating the complexities of buying a home that’s under construction can also be a bit overwhelming. This is where a skilled real estate agent can make all the difference. An article from The Mortgage Reports sums it up like this: “Your Realtor or real estate agent will be key to helping you navigate this process. . . . they can guide you through construction and help anticipate and solve for any possible snags along the way.” Here’s...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Four Ways You Can Use Your Home Equity

Written by Marathon Florida Keys Mortgage on August 7, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think. According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: “While the pandemic created serious challenges, the silver lining for anyone who owned a home...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How To Know If You’re Ready to Buy a Home

Written by Marathon Florida Keys Mortgage on August 2, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make. While housing market conditions are definitely a factor in your decision, your own life and your finances may be even more important. As an article from NerdWallet says: “Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation,...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Real Estate Continues To Be the Best Investment [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on July 21, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights According to a recent Gallup poll, real estate has been voted the best long-term investment for 11 years in a row, beating gold, stocks, bonds, and more. Owning real estate means more than just having a home—it’s an investment in your future. That’s because it’s typically a stable and secure asset that tends to increase in value as time goes on. Connect with a local real estate agent if you’re ready to buy a home and invest in your future.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Owning Your Home Helps You Build Wealth

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

You may have heard some people say it’s better to rent than buy a home right now. But, even today, there are lots of good reasons to become a homeowner. One of them is that owning a home is typically viewed as a good long-term investment that helps your net worth grow over time. Homeownership Builds Wealth Regardless of Income Level You may be surprised to learn homeowners across various income levels have a much higher net worth than renters who make the same amount. Data from First American helps illustrate this point (see graph below): What makes wealth so much higher for homeowners? A...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Two Questions To Ask Yourself if You’re Considering Buying a Home

Written by Marathon Florida Keys Mortgage on July 5, 2023. 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’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot. To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Americans Still View Homeownership as the American Dream

Written by Marathon Florida Keys Mortgage on July 4, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Everyone’s interpretation of the American Dream is unique and personal. But, for many people, it’s tied to a sense of success, freedom, and prosperity. These are all things that owning a home can help provide. A recent survey from Bankrate asked respondents which achievements they feel most embody the American Dream. The responses prove owning a home is still important to so many Americans today (see graph below): As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree. A recent report from MYND...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Evaluating Your Wants and Needs as a Homebuyer Matters More Today

Written by Marathon Florida Keys Mortgage on July 3, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

When it comes to buying a home, especially with today’s affordability challenges, you’ll want to be strategic. Mortgage rates impact how much it costs to borrow money for your home loan. And, to help offset the higher borrowing costs today, some homebuyers are taking a close look at their wish list and re-evaluating what features they really need in their next home to avoid overextending. As a recent NerdWallet article says: “A pool, for example, may be nice to have, but it may not provide as much day-to-day value as a garage or a space for a home office . . .” While that pool may be appealing,...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Homeownership Wins in the Long Run

Written by Marathon Florida Keys Mortgage on June 27, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Rent vs. Buy.

Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision. Consider 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 grows your own...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Homeownership Helps Protect You from Inflation [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on June 23, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Some Highlights Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady. Rents typically increase with inflation. Maybe that’s why, according to a recent survey, 65.1% of landlords say they plan to raise the rent of at least one of their properties within the next 12 months. Especially when inflation is up, having a stable housing payment can be helpful. Connect with a local real estate agent so you can learn more and start your journey to owning a home today.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What Homebuyers Need To Know About Credit Scores

Written by Marathon Florida Keys Mortgage on June 22, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from Bankrate explains: “Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Saving for a Down Payment? Here’s What You Need To Know.

Written by Marathon Florida Keys Mortgage on June 19, 2023. Posted in Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re planning to buy your first home, then you’re probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As the National Association of Realtors (NAR) notes: “One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.” And a recent Freddie...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How Owning a Home Grows Your Wealth with Time [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on June 16, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Some Highlights If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership. Over time, homeownership allows you to build equity. On average, nationwide home prices appreciated by 290.2% over the last 32 years. That means your net worth can grow significantly in the long term when you own a home. Reach out to a real estate professional so you can start your homebuying journey today.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Are Home Prices Going Up or Down? That Depends…

Written by Marathon Florida Keys Mortgage on June 13, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Media coverage about what’s happening with home prices can be confusing. A large part of that is due to the type of data being used and what they’re choosing to draw attention to. For home prices, there are two different methods used to compare home prices over different time periods: year-over-year (Y-O-Y) and month-over-month (M-O-M). Here’s an explanation of each. Year-over-Year (Y-O-Y): This comparison measures the change in home prices from the same month or quarter in the previous year. For example, if you’re comparing Y-O-Y home prices for April 2023, you would compare...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Real Estate Is Still Considered the Best Long-Term Investment

Written by Marathon Florida Keys Mortgage on June 6, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below): If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision. Why Do Americans Still Feel...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Reasons To Own Your Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on June 2, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights June is National Homeownership Month, and it’s a perfect time to think about all the benefits that come with owning your home. Owning a home not only makes you feel proud and accomplished, but it’s also a big step toward having a secure and stable financial future. Are you ready to enjoy all the amazing advantages that come with owning a home? Get in touch with a local real estate agent to start the process today.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The True Value of Homeownership

Written by Marathon Florida Keys Mortgage on June 1, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides. Of course, there are financial reasons to buy a house, but it’s important to consider the non-financial benefits that make a home more than just where you live. Here are three ways owning your home can give you a sense of accomplishment, happiness, and pride. You May Feel Happier and More Fulfilled Owning a home is associated with better mental health...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Keys to Success for First-Time Homebuyers

Written by Marathon Florida Keys Mortgage on May 31, 2023. Posted in Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years: “Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight inventory, rising home prices, rising rents and high student debt loads.” That said, if you’re looking to purchase your first home, here are two things...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Owning a Home Helps Protect Against Inflation

Written by Marathon Florida Keys Mortgage on May 24, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

You’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you’re a renter, you’re likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be wondering if it still makes sense to buy a home today. The short answer is – it does. Here’s why. Homeownership actually shields you from the rising costs inflation brings. Freddie Mac explains how: “Not only will buying today help you begin to build equity, a fixed-rate mortgage can stabilize your...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Buyers Need an Expert Agent by Their Side

Written by Marathon Florida Keys Mortgage on May 22, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

The process of buying a home can feel a bit intimidating, even under normal circumstances. But today’s market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the available homes. Navigating all of this can be daunting if you’re trying to do it alone. That’s why having a skilled expert to guide you through the homebuying process is essential, especially today. Bankrate shares this perspective: “Advice and guidance from a professional real estate agent...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Buying a Home Makes More Sense Than Renting Today

Written by Marathon Florida Keys Mortgage on May 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Wondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988. And, data from the latest rental report from Realtor.com shows rents continue to grow today, even though it’s at a slower pace than we saw at the height of the pandemic: “In March 2023, the U.S. rental market experienced single-digit growth for the eighth month in a row . . . The median asking...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Category: First Time Home Buyers